Article 5, Volume 4 Issue 1

Financial analysis of the feed sector in Catalonia

Author

Núria Arimany-Serrat – (Universitat de Vic-Universitat Central de Catalunya)

Laura Carbonés-Trulls – (Universitat de Vic-Universitat Central de Catalunya)

Anna Sabata-Aliberch – (Universitat de Vic-Universitat Central de Catalunya)

Carme Viladecans-Riera – (Universitat de Vic-Universitat Central de Catalunya)

Received November 7, 2017; accepted November 26, 2017.

Abstract

The study focused on an economic and financial analysis of the animal feed sector in Catalonia during 2008 to 2014. This sector was chosen because of its impact on the value chain of agri-food companies, and its important role in Catalonia, as the region that is the leading animal feed producer in Spain. The instruments used in the analysis identified good short-term solvency; an acceptable level of debt, although of poor quality; and return on equity that were less stable than return on assets, with added value that increased during the study period, due to the increase in net income and the logical capitalization of these companies. The sector was in good economic and financial shape during this period, but improvements should be made in the management of assets and expenses, to boost the appropriate innovation and internationalization of the sector.

El estudio se centró en un análisis económico y financiero del sector de alimentación animal en Cataluña entre 2008 y 2014. Este sector fue elegido por su impacto en la cadena de valor de las empresas agroalimentarias y su importante papel en Cataluña, como la región que es el principal productor de alimentos para animales en España. Los instrumentos utilizados en el análisis identificaron una buena solvencia a corto plazo; un nivel aceptable de deuda, aunque de baja calidad; y el rendimiento del capital que fue menos estable que el rendimiento de los activos, con un valor agregado que aumentó durante el período de estudio, debido al aumento en el ingreso neto y la capitalización lógica de estas empresas. El sector estuvo en buena forma económica y financiera durante este período, pero se deben hacer mejoras en la gestión de activos y gastos, para impulsar la innovación e internacionalización apropiadas del sector.

Citation

Arimany, N., Carbonés, L., Sabata, A., & Viladecans, C. (2017). Financial analysis of the feed sector in Catalonia. European Accounting and Management Review3(2), 89-107.

Figures

Keywords

  • Animal feed sector
  • Capitalization
  • Debt
  • Financial economic analysis
  • Returns and short- term solvency

Palabras clave

  • Sector de alimentación animal
  • Capitalización
  • Deuda
  • Análisis económico financiero
  • Devoluciones y solvencia a corto plazo

Share this article

Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on email
Email
Share on twitter
Twitter

Related Posts

Article 4, Volume 6 Issue 2

The dehumanization and demoralization of Management Control Systems: Can we possibly re-humanize and re- moralize them? Author Josep M. Rosanas – (IESE Business School – Crèdit Andorrà Chair of Organizations, Markets and Humanism) DOI: 10.26595/eamr.2014.6.2.4 Download PDF View HTML Received April 1, 2020; accepted May 6, 2020. Abstract English In the last few decades, there

Read More »

Article 3, Volume 6 Issue 2

Study of an SB2 Beneficiary’s Pension Plan Author   Enriqueta Mancilla-Redón – (Universidad La Salle México) Carmen Lozano Arizmendi – (Universidad La Salle México) DOI: 10.26595/eamr.2014.6.2.3 Download PDF View HTML Received February 17, 2020; accepted May 22, 2020. Abstract English The individual account pension system established by the Social Security Act 1997 shows that the

Read More »

Article 2, Volume 6 Issue 2

Systematic Literature Review on Service Quality in Business Schools Author Llorenç Bagur-Femenías – (UPF Barcelona School of Management) Marian Buil – (Escola de Ciències Socials i de l’Empresa Tecnocampus – UPF) Josep Llach – (Universitat de Girona) DOI: 10.26595/eamr.2014.6.2.2 Download PDF View HTML Received April 25, 2020; accepted May 6, 2020. Abstract English This paper

Read More »

Article 3, Volume 2 Issue 1:

Analysis of the cash flow statement’s usefulness: an empirical study

Author

Núria Arimany-Serrat – (Universitat de Vic)

Carme Viladecans-Riera – (Universitat de Vic)

Received April 20, 2015; accepted November 13, 2015.

Abstract

The basic purpose of this research is to determine the relevance of the cash flow statement (CFS), also known as statement of cash flows, for analysing a company’s financial statements. This has been done by means of an empirical study, showing that, in order to undertake a comprehensive analysis of the company’s equity, economic and financial situation, it is essential to study and analyse the CFS. An experimental study was carried out with students taking a Business Management and Administration degree at Universitat de Vic as well as students on the Accounting and Finance course at Universitat Autònoma de Barcelona, using data from the retail company Mercadona S.A. The ensuing conclusions allow us to state that the CFS is an indispensable document when it comes to undertaking a comprehensive analysis of the company’s financial statements, given that it provides very useful information concerning the company’s short-term financial situation and its investment and financing activity.

El propósito básico de esta investigación es determinar la relevancia del estado de flujo de efectivo (CFS) para analizar los estados financieros de una empresa. Esto se ha realizado mediante un estudio empírico que muestra que, para llevar a cabo un análisis exhaustivo de la situación patrimonial, económica y financiera de la empresa, es esencial estudiar y analizar el CFS. Se realizó un estudio experimental con estudiantes que obtuvieron un título en Administración y Dirección de Empresas en la Universitat de Vic, así como estudiantes en el curso de Contabilidad y Finanzas en la Universitat Autònoma de Barcelona, ​​utilizando datos de la empresa minorista Mercadona SA Las conclusiones que nos permiten afirmar que el CFS es un documento indispensable cuando se trata de realizar un análisis exhaustivo de los estados financieros de la compañía, dado que proporciona información muy útil sobre la situación financiera a corto plazo de la compañía y su actividad de inversión y financiamiento.

Citation

Arimany, N., & Viladecans, C. (2015). Analysis of the Cash Flow Statement’s Usefulness: An Empirical Study. European Accounting and Management Review2(1).

Figures

Keywords

  • Cash flow statement
  • Usefulness
  • Short-term financial analysis
  • Retail company

Palabras clave

  • Estado de flujo de caja
  • Utilidad
  • Análisis financiero a corto plazo
  • Empresa minorista

Share this article

Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on email
Email
Share on twitter
Twitter

Related Posts

Article 4, Volume 6 Issue 2

The dehumanization and demoralization of Management Control Systems: Can we possibly re-humanize and re- moralize them? Author Josep M. Rosanas – (IESE Business School – Crèdit Andorrà Chair of Organizations, Markets and Humanism) DOI: 10.26595/eamr.2014.6.2.4 Download PDF View HTML Received April 1, 2020; accepted May 6, 2020. Abstract English In the last few decades, there

Read More »

Article 3, Volume 6 Issue 2

Study of an SB2 Beneficiary’s Pension Plan Author   Enriqueta Mancilla-Redón – (Universidad La Salle México) Carmen Lozano Arizmendi – (Universidad La Salle México) DOI: 10.26595/eamr.2014.6.2.3 Download PDF View HTML Received February 17, 2020; accepted May 22, 2020. Abstract English The individual account pension system established by the Social Security Act 1997 shows that the

Read More »

Article 2, Volume 6 Issue 2

Systematic Literature Review on Service Quality in Business Schools Author Llorenç Bagur-Femenías – (UPF Barcelona School of Management) Marian Buil – (Escola de Ciències Socials i de l’Empresa Tecnocampus – UPF) Josep Llach – (Universitat de Girona) DOI: 10.26595/eamr.2014.6.2.2 Download PDF View HTML Received April 25, 2020; accepted May 6, 2020. Abstract English This paper

Read More »

Article 2, Volume 2 Issue 1:

Economic consequence of accounting standards in the hotel industry: lobbying arguments versus expected impact

Author

Núria Arimany-Serrat – (Universitat de Vic)

Àngels Fitó-Bertran – (Universitat Oberta de Catalunya)

Neus Orgaz-Guerrero – (Universitat Oberta de Catalunya

Abstract

Accounting standards generate economic consequences that can be either intended or unintended. European and US accounting regulators have proposed to capitalize operating leases so that future payments derived from lease contracts are accounted for as debt. As operating leases are an important source of funding for the hotel industry, the sector has lobbied against the proposal. This paper analyses the economic impact on the hotel business of operating lease capitalization, using both hotel operators’ perceptions and quantitative analyses of the expected consequences. Results show that the arguments presented in the hotels’ comment letters are confirmed by the impact predicted. While hotels do not believe that the new standard will improve financial information quality (the intended economic consequence), they expect an increase in debt and reduced profitability (the unintended economic consequences), which may affect their strategies. An early response to this new standard is proposed in order to avoid unintended effects.

Las normas contables generan consecuencias económicas que pueden ser intencionadas o no intencionadas. Los reguladores contables europeos y estadounidenses han propuesto capitalizar los arrendamientos operativos para que los pagos futuros derivados de los contratos de arrendamiento se contabilicen como deuda. Como los arrendamientos operativos son una fuente importante de financiación para la industria hotelera, el sector ha presionado en contra de la propuesta. Este documento analiza el impacto económico en el negocio hotelero de la capitalización de arrendamiento operativo, utilizando tanto las percepciones de los operadores hoteleros como los análisis cuantitativos de las consecuencias esperadas. Los resultados muestran que los argumentos presentados en las cartas de comentarios de los hoteles están confirmados por el impacto previsto. Si bien los hoteles no creen que el nuevo estándar mejore la calidad de la información financiera (la consecuencia económica prevista), esperan un aumento de la deuda y una rentabilidad reducida (las consecuencias económicas no deseadas), lo que puede afectar sus estrategias. Se propone una respuesta temprana a este nuevo estándar para evitar efectos no deseados.

Citation

Arimany, N., Fito, M., & Orgaz, N. (2015). Economic consequence of accounting standards in the hotel industry: Lobbying arguments versus expected impact. European Accounting and Management Review, (3).

Figures

Keywords

  • Operating leases
  • Hotels
  • Economic consequences
  • Business strategy
  • Lobby

Palabras clave

  • Arrendamientos operativos
  • Hoteles
  • Consecuencias económicas
  • Estrategia de negocios
  • Lobby

Share this article

Share on linkedin
LinkedIn
Share on whatsapp
WhatsApp
Share on email
Email
Share on twitter
Twitter

Related Posts

Article 4, Volume 6 Issue 2

The dehumanization and demoralization of Management Control Systems: Can we possibly re-humanize and re- moralize them? Author Josep M. Rosanas – (IESE Business School – Crèdit Andorrà Chair of Organizations, Markets and Humanism) DOI: 10.26595/eamr.2014.6.2.4 Download PDF View HTML Received April 1, 2020; accepted May 6, 2020. Abstract English In the last few decades, there

Read More »

Article 3, Volume 6 Issue 2

Study of an SB2 Beneficiary’s Pension Plan Author   Enriqueta Mancilla-Redón – (Universidad La Salle México) Carmen Lozano Arizmendi – (Universidad La Salle México) DOI: 10.26595/eamr.2014.6.2.3 Download PDF View HTML Received February 17, 2020; accepted May 22, 2020. Abstract English The individual account pension system established by the Social Security Act 1997 shows that the

Read More »

Article 2, Volume 6 Issue 2

Systematic Literature Review on Service Quality in Business Schools Author Llorenç Bagur-Femenías – (UPF Barcelona School of Management) Marian Buil – (Escola de Ciències Socials i de l’Empresa Tecnocampus – UPF) Josep Llach – (Universitat de Girona) DOI: 10.26595/eamr.2014.6.2.2 Download PDF View HTML Received April 25, 2020; accepted May 6, 2020. Abstract English This paper

Read More »

Uso de cookies

Este sitio web utiliza cookies para que usted tenga la mejor experiencia de usuario. Si continúa navegando está dando su consentimiento para la aceptación de las mencionadas cookies y la aceptación de nuestra política de cookies, pinche el enlace para mayor información.plugin cookies

ACEPTAR
Aviso de cookies