sample quiz for finance 1
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Academic PurposesTRANSCRIPT
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I. Introduction
Our group chose Jollibee Food Corporation as the subject of our term paper. Jollibee, being a major market leader in the
fast food industry in the Philippines, seems to be a qualified subject for this kind of study considering how complex and large their
financial audit is and the shares they hold in the market is a considerable one to work on.
This term paper analyzes the financial audit of the company and seeing what is there to improve on based on its
weaknesses and shortcomings as a company and the current situation of the company in terms of its finances, operations,
management, decision making and other factors to observe on that. As a paper for analysis, our topic here is to discern what the
company does in the handling of its finances based on the available data which is the financial audit of the company as of a given
year.
By the end of this paper, we will be able to make a decision about what problems the company are facing, what can be done
in order to give solutions to those problems that are going to be mentioned and how the company is currently doing based on its
finances. We will also be able to show the operating and strategic management of the company and its style of handling its resources
in different aspects of the company.
II. Statement of the Objectives of the Research
The group also has several goals and objectives as to the success of the research work. It will closely examine the financial audit
available to us and from there, we will derive the different answers we are looking for based from our objectives and problems
mentioned.
1.) To find out the company’s performance by looking at it’s financial audit.
2.) To find out how Jollibee makes decisions with its finances and how it allocates its resources for the further improvement
and development of the company.
3.) To see if there are any “holes” in Jollibee’s finances such as losses unaccounted for or any major setbacks that the company
has gone through monetarily.
4.) To be able to tell the accounting policies of the company so as to see how prepared the financial audit was.
To delve into the specifics of the research, the group has raised several problem statements to be resolved in the research.
Problem Statement 1:
Jollibee has long been a powerhouse in the fast food industry here in the Philippines enjoyed by many Filipinos for its taste, quality
and affordability. With that said, we aren’t entirely sure where Jollibee is at right now. Sure, we see them seemingly make a lot of
money everyday because of the inflow and outflow of customers at the establishment but are we really seeing the same in their
audit?
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Problem Statement 2:
With the available data on hand, we are able to see the different policies Jollibee has with regards to their management and
operating policies. Through this, we see the pattern of the company’s decision-making
strategies and the different ways on how it decides to work with its workers and the people to which the company serves. Does it
suffice to say that Jollibee is effective in decision making?
Problem Statement 3:
As mentioned in the first problem statement, we assume that Jollibee is not a perfect company as any company is. Needless to say, it
faces daily problems with regards to operations, managerial decision-making and financial management. The group deems that
these problems are hard to avoid but with proper managerial action and reaction, it can be prevented. So with all of that mentioned,
what problems is the company facing with regards to the different factors such as finance, operations and management?
Problem Statement 4:
It is important for a financial audit to be prepared with all fairness and accuracy. It is also favorable if the audit of a company is
prepared and consolidated by an independent financial auditor as to see what problems could be corrected with the initial
preparation of the financial audit. Jollibee, as mentioned, is not a perfect company since there is none. It cannot escape the errors of
preparation and as well as its management policies. So the question to be raised here is, are there any things that erred the
preparation of the financial audit? If none, then how was it reassured in order for its preparation to be “clean” and accurate?