Both companies are among the top companies in their area in Europe in terms of footprint, turnover, profits, technological advance and innovative products and services. Both of them are always ‘on the way’ and constantly see possibilities to improve for the future through a healthy competitive environment. However, they also face with “the upheaval and global challenges of their relevant industry” which has impacted on their financial performance. In their effort to steadily apply the strategy “value for money” to their customers and satisfy them with innovative applications in their sectors, both have launched extensive programmers for developing innovative products with a lower cost structure which is aimed to lead to sustainable profitability targets.
Requirements: Start up by consulting a number of related books and articles on financial reporting and managerial accounting/costing in your library and the electronic folder of your pack. This is to develop your knowledge of financial statement analysis skills. List the desirable characteristics of financial reports as outlined in such books and articles. Examine the (consolidated) annual reports of Adidas and Puma with all the financial statements included (at least 3 latest financial years per company) towards the following points:
1. Examine these reports and then make the appropriate financial assessment on it to see how far in your view it appears to contain the desirable characteristics of financial reports as outlined in the textbooks. (You must show all workings, that is to analyze the financial performance and risk position of these companies as disclosed by its financial statements (and other resources) and explain ratios calculated for at least 3 last and recent financial years per company and make a comparison between the recent years’ performance with the respective detailed analysis).
2. Given the focus of Adidas and Puma Corporations on the customer, the drive to reduce costs and “value for money” concept and technological innovations with huge investments regarding future and always “looking forward” and the emphasis on “customers and suppliers” working together to overcome the financial challenges that they face, You are required to: Discuss, using relevant academic / industry literature to support your arguments, which
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