Tag Archives: Financial Analysis

Post-Ebola Financial Analysis of the Economic Fortunes of the Tourism/Hospitality Sub-Sector in Cross River State, Nigeria (Published)

This study was a post-Ebola analysis of the impact of the dreaded disease (Ebola) on the tourism and hospitality industry, with particular reference to Eateries, Hotels, Guest Houses and allied businesses in Cross River State, Nigeria. The objective of the study was to determine the extent of the scare on consumption of the tourism/hospitality industry’s goods and services resulting from the outbreak of the Ebola virus crisis. The goods and services in focus include forest products which were vulnerable to contamination by primary carriers of Ebola disease, while the services include bed spaces, which constitute essential demands of tourists. The trades most affected were hunting, eateries, forest products (including bush meat), etc. Survey design was adopted in the study. The data gathered were statistically analysed using the Pearson Product Moment Correlation. Results indicate that: the financial viability of forest products (including local bush meat) and other allied businesses are still significant; and the profitability of tourism/hospitality businesses in Cross River State, Nigeria, still significant, especially after the World Health Organization (WHO) had issued a “No-Ebola” certification on Nigeria. The study is concluded by recommending proper education for operators in the tourism/hospitality sub-sector whose products and services were the most vulnerable during the Ebola crisis, on the need to switch to alternative businesses that will preserve the eco-system in compliance with the pursuit of the global Green-House Gas emission minimization.

Keywords: Businesses., Financial Analysis, Hospitality, Post-Ebola, Tourism

A STUDY ON FINANCIAL PERFORMANCE OF MULTIPURPOSE COOPERATIVEUNIONS OF TIGRAI REGION, ETHIOPIA (Published)

Performance measurement is defined as the process of quantifying efficiency and effectiveness. Effectiveness is compliance with customer requirements, and efficiency is how the organisation’s resources are used to achieve customers’ satisfaction levels. Financial performance deals with measuring the results of the firm’s policies and operations in monetary terms. These results are reflected in the firm’s return on investment, return on assets, value added, etc. The main purpose of this research is to study the financial performance of Multi-Purpose cooperative unions in Tigray Region. Eight unions are selected based on continuousauditing of the targeted unions’. The study considered three years’ auditing report with regard to quantitative data analysis using financial analysis tools, such as liquidity ratios ,leverage, profitability ratio Trend analysis of balance sheet and income statement, and Ratio analysis for the period of 2000 to 2003(E.C). The result of financial performance analysis illustrated that the financial position of the unions has not maintained satisfactory level of financial assessment; since the Liquidity ratio of the union is not sound enough under the study period. The study results indicated that the borrowing power of the unions and the profitability of the unions are lower than the average. The Asset utilization of the unions is not satisfactory and the unions have to sale additional share capital and unproductive fixed asset to increase own fund. To improve their efficiency in order to gain enough profit, and to save accumulated profit the unions must decrease administrative and operating expense which eventually lead to maximizing profits. Especially the finding of Profitability, Liquidity, Leverage and return on assets are below the average.

Keywords: Financial Analysis, Performance, Ratio Analysis and cooperative unions

A STUDY ON FINANCIAL PERFORMANCE OF MULTIPURPOSE COOPERATIVE UNIONS OF TIGRAI REGION, ETHIOPIA (Published)

Performance measurement is defined as the process of quantifying efficiency and effectiveness. Effectiveness is compliance with customer requirements, and efficiency is how the organisation’s resources are used to achieve customers’ satisfaction levels. Financial performance deals with measuring the results of the firm’s policies and operations in monetary terms. These results are reflected in the firm’s return on investment, return on assets, value added, etc. The main purpose of this research is to study the financial performance of Multi-Purpose cooperative unions in Tigray Region. Eight unions are selected based on continuous auditing of the targeted unions’. The study considered three years’ auditing report with regard to quantitative data analysis using financial analysis tools, such as liquidity ratios ,leverage, profitability ratio Trend analysis of balance sheet and income statement, and Ratio analysis for the period of 2000 to 2003(E.C). The result of financial performance analysis illustrated that the financial position of the unions has not maintained satisfactory level of financial assessment; since the Liquidity ratio of the union is not sound enough under the study period. The study results indicated that the borrowing power of the unions and the profitability of the unions are lower than the average. The Asset utilization of the unions is not satisfactory and the unions have to sale additional share capital and unproductive fixed asset to increase own fund. To improve their efficiency in order to gain enough profit,and to save accumulated profit the unions must decrease administrative and operating expense which eventually lead to maximizing profits. Especially the finding ofProfitability, Liquidity, Leverage and return on assetsare below the average

Keywords: Cooperative unions, Financial Analysis, Performance, Ratio Analysis