Analyse and Apply Financial Information - Accounting and Finance Assignment Help

Assignment Task

ElectroChip Limited is a producer and supplier of machine parts to local and Australian customers. Five years ago, it appeared that the company was in danger of closing down. Profits were down, and shareholder confidence was very low. In an effort to reduce costs and increase profits, the Chief Financial Officer and the Chief Operating Officer put in a number of efficiency and cost-saving measures. These measures include:
 

•  Ensuring wasteful processes in the company are overhauled and efficient methods of working are introduced.
   
•  Borrowing from the Green Bank to invest in new machinery. The Green Bank was selected because the Managing Director of ElectroChip is a member of the bank’s Board.
   
•  Not upgrading their pollution control systems to match the requirements of the new machinery. This has resulted in an increase in emissions.
   
•  Not upgrading their safety systems and providing safety training to workers to match the requirements of the new machinery.
   
•  Not paying cash dividends to shareholders for the past six years.
   
•  Stopping the company’s support to the local charity.
   
•  Laying off older workers who were on a higher pay scale in favour of recruits straight out of college for lower pay.
   
•  Implementing a profit-sharing plan where managers are given a percentage of the company’s profits.

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