Accounting and Finance – Bovis Plc and Carillion Plc Case Study Assessment Answer

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Accounting and Finance Assessment Answer

Assignment Task:

Bovis Plc and Carillion Plc Case Study

Bovis plc and Carillion plc are two of the UK’s largest construction firms.

Assume that you are one of the main investors of a portfolio of shares based on the companies quoted on the UK stock exchange. Other people trust you with their investments and you have regular meetings to discuss the direction that the portfolio should take. The ethical stance is very important to all of the members of the group.

In the past, you have bought shares in BOTH of these companies and you regularly advise investment in (and divestment of) shares as you try to balance the portfolio.

You have been informed that the group feels that the time is right for partial divestment from the construction sector. (You are not required to question this decision. Simply accept that this will happen.)

You are required to choose to divest your holdings in either Bovis plc or Carillion plc – but not both.

You may not split your decision, i.e. you may not average the divestment over both companies.

Your analysis must take into account the financial data you can research that is applicable to this period of time, not afterward.

Task 1

You must advise the group to divest itself of its holdings in one of two companies:

Bovis Homes plc (2016) ‘Annual Report and accounts 2016’ [online].

OR

Carillion plc (2016) ‘Annual Report and accounts’ [online].

In your portfolio both investments have approximately the same value as at February 2017. An important consideration for your portfolio is the ethical stance of these two companies.

Write a report that:

advises and explains* to the members of the portfolio group which company’s shares to sell.

This part of the report should be a full financial analysis of the accounts of the companies concerned. Remember that many of the members are amateur investors

so your report needs to explain technical terms and ratios succinctly and persuasively.

*All calculations are to be shown in an appendix to this report i.e. KPIs cannot be cut and pasted, they must be calculated and the workings are shown.

justifies the decision in part an above on ethical grounds.

In this section, you must fully justify your decision by citing the evidence that was applicable at the time of the 2016 annual report.

Task 2

It is now the present day (2019).

As most people will be aware Carillion plc was liquidated in 2018 in the largest ever liquidation in UK trading history.

Whether you have chosen to sell Carillion shares or not.

Write an update to the report that was written in Task 1 to explain what was wrong with the accounts as presented in 2017 and what if anything could have been done to protect the shareholders.

Reference list and bibliography

You should include a reference list with relevant and appropriate sources that you have written about and cited within your work.

You should also include a bibliography list with separate relevant and appropriate sources that have influenced your thinking but are not cited in your work.

Marking criteria

Marking guidance for students

This guidance is designed to help you to do as well as possible in your assessments by explaining how the person marking your work will be judging it. This should ensure you are aware of what they are looking for when you prepare your assessment. When you receive feedback on your assessment, the guide should also help you to see where you gained marks and how you could have improved your mark.

Every assessment will have a brief. In the brief you will be told what you have to produce. The assessment criteria marking criteria guide should be read alongside the assessment brief. The assessment criteria marking guide will enable you to make judgments about how you should approach this assessment at this academic level.

It is recommended that you read the assessment criteria marking guide before attempting each assessment and keep in mind what will help you to achieve the highest marks as you work on the assessment. Once you have finished you should review the assessment before submitting it, to check you have done what is required to achieve the highest marks to the best of your ability. When you receive your feedback from your tutor you should clearly be able to see which categories you lost/gained marks in. The feedback should provide you with more detail on the extent to which you have achieved each of the criteria, as well as with recommendations about how to improve your performance going forward (where relevant).

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