[STUDENT] [COURSE] [STUDENT NUMBER] 1

Student Name:

Student Number:

Report Title: INVESTMENT PROJECT ANALYSIS (GAMMA Plc &ALPHA Plc)

Module Name: Accounting and Finance

Module Code:

Staff:

Date: December 15, 2022

Word Count: 4205

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Table of Contents

PART 1

Executive summary……………………………………………………………………………..3

Introduction……………………………………………………………………………………..4

Comparative performance analysis……………………………………………………..…5-11

Financial statement analysis………………………………………………………………….…5

Stock analysis……………………………………………………………………………..….…7

Ratio analysis……………………………………………………………………………..….8-11

PART 2

Corporate governance and CSR…………………………………………………………12-16

Corporate governance………………………………………………………………………….12

Risk analysis & information availability…………………………………………………..…..14

Corporate social responsibility……………………………………………………..………….16

Conclusion & Recommendation…………………………………………………………..16-18

References……………………………………………………………………………………..19

PART 1

Executive Summary
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Organizations exist for the sole purpose of making a profit. Precision and coordination of

the highest order are essential for the effective operation of any firm. Given the interdependence

of several projects, firms must achieve a reasonable equilibrium among them. Keep in mind that

money is the driving force behind most enterprises. Today's report focuses on the digital phone

industry (Robinson, 2020). There are two parts to this report. Two companies, Gamma and alpha

Plc, have their potential compared. The starting point of this study is a comparison of the two

companies' financial documents. Secondly, the ratios of liquidity, profitability, and solvency are

analyzed. The second half of this research focuses on corporate social responsibility and

governance (Naciti et al., 2022). The report concludes with a summary and suggestions for the

most promising investment option for the business.

Alpha Plc is the most profitable endeavor for the firm. Alpha Plc has both short- and

long-term sustainability. The corporation can pay its short-term obligations in full despite having

reduced liquidity ratios (Breuer et al. 2012). The share price and the price-to-earnings Ratio

indicate that the company is doing well. Based on the data presented, Alpha Plc appears to have

higher revenues and net income than Gamma Plc. We believe Alpha Plc to be an appropriate

investment project because of its high inventory turnover rate.

Introduction
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The smooth running of a business relies on the utmost precision and coordination.

Because businesses rely on different projects, they must strike a healthy balance between them. It

is important to note that the primary motivation of businesses is financial gain. Ultimately, it is

up to the company's management to select the most optimal project. The investment proposals

are examined against several essential criteria. Frequently, companies' investments may not

produce the promised return (Robinson, 2020). Only the company's management or financial

analyst proxies should investigate, evaluate, and submit a report on a project's potential success.

The other projects are shelved, disregarded, or given priority over the one with the highest

expected return.

In today's report, we will be looking at the digital phone market. In order to facilitate

analysis and component coverage, I split the report into two parts. The potential of two

companies, Gamma, and alpha Plc, is examined. In recent years, businesses' first choice for

expansion has been the digital sector. Though seemingly promising, a single misstep in this field

can spell disaster for an organization. In the first section, we compare and contrast the two

companies' financial accounts to get a clear picture of where they stand. An analysis of the two

firms' stock prices comes coming next. Is the current market price for the two stocks a good one?

Precisely what does this entail for the firm's future? We look at ratio analysis and market trends

in the digital space (Welc, 2022). When put head-to-head, will the two businesses be able to

compete? The ratios of liquidity, profitability, and solvency are the primary areas of study under

ratio analysis (Breuer et al. 2012). This study's second section comprises corporate social

responsibility and corporate governance. Within these two broad headings, we assess the risks of

each project and propose the most effective method for reducing them. Finally, this study
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concludes with recommendations and a summary of which investment idea is most attractive and

feasible for the company (Naciti et al., 2022).

Comparative Performance Analysis

Financial Statement Analysis

A business's health can be primarily gauged by its financial accounts. In order to facilitate

comparison, financial statements present the current state of operations by clearly separating the

components into several categories. First, we compare the two companies financial statements.

Here, we compare the two firms' asset lists, which can be seen on their respective balance sheets.

A corporation with a high asset value is profitable since assets measure financial well-being

(Robinson, 2020). These assets must also be 100% owned by the corporation and not financed

through debt. Compared to Alpha Plc's 323,000, Gamma Plc's total assets are only $266,000.

Since Alpha Plc has more assets than Gamma Plc, it is a considerably wealthier business.

Gamma has a more significant cash balance of $24,000 than Alpha of $17,000. Both businesses

are in the cash-intensive digital phone industry. As a result, the gamma sector is better prepared

for contingencies such as network outages and urgent maintenance.

Receipts from customers are another crucial factor to consider. Money owing to a

business by its clients is represented by its accounts receivable, often known as its debtors.

Companies should generally pay much attention to their debtors' levels. Alpha Plc's debt is

higher than Gamma's, which is unfavorable. Higher debtors are an asset, but they also have the

chance of not being repaid, making them bad debts that the company may have to write off.

Comparing the two firms also involves considering their inventory levels (Welc, 2022). Sales for

both businesses are determined by available stock. A high inventory turnover rate in business

indicates a successful product line. In the case of the digital phone industry, rapid inventory
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turnover indicates that the phones are selling well to consumers. The opening stock price for

Gamma Plc was $81,000, but the closing price was $66,000. That is 15 thousand dollars in

digital phone sales for the year, which is a significant amount for any business. However, Alpha

Plc's stock increased from a beginning value of $87,000 to a closing value of $97,000. Indicating

a rise in stock on hand raises the question of whether or not Alpha Plc has made a purchase or

whether or not stock prices are just higher at the end of the year (Welc, 2022). Because of this,

we can infer that Gamma Plc is managing its inventory level cooperatively, as evidenced by its

reduced stock levels at the end of the year. The likelihood of merchandise expiring before it sells

decreases thanks to the company's inventory management. Alpha Plc's substantial stockpiles may

soon become obsolete due to technological developments in the digital phone industry (Welc,

2022).

Any business would be foolish to ignore the importance of short-term investments.

Companies require short-term liquidity as they work to increase their long-term profitability.

Unpredictability is a hallmark of the digital economy. To keep up with the ever-changing

demands of consumers and the marketplace, businesses may need to acquire or produce new

inventory due to emerging technologies rapidly. Short-term assets guaranteeing the firm's

liquidity are crucial (Higgins et al. 2021). Utilizing these short-term securities can help you

capitalize on the competition by funding production upgrades or introducing a brand-new

product. Compared to Alpha's 14,000 dollars, Gamma Plc's securities are at $40,000. When

compared to Alpha, Gamma Plc has greater liquidity.

Liabilities, sales, and equity comprise the second main area of investigation. How much

debt do these businesses have, if any? Do they have a chance of paying off their debts? Total

liabilities for Gamma Plc are $105,000, compared to $128,000 for Alpha. Keep in mind that
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when sales increase, so do associated costs. The difference between Gamma Plc and Alpha Plc's

revenue is $423,035. Sales are higher at Alpha Plc than at Gamma, indicating a more significant

profit margin for Alpha. Comparing the two companies' net incomes, we see that Alpha Plc is

more successful, with a 72,000-dollar profit, whereas Gamma Plc only generates a 51,000 profit.

The two companies' equity levels show that alpha Plc is the most prosperous. Alpha Plc is more

profitable than Gamma Plc. Alpha Plc has a higher inventory turnover than its rival, Gamma Plc,

because of its ability to sell and replenish its goods (Welc, 2022).

Stock Analysis

The Price Earnings Ratio (P/E Ratio) compares a stock's current selling price to its per-share

profits (EPS). The price-earnings Ratio (PE ratio) is a widely used stock valuation tool. It shows

if a stock is overpriced or underpriced at its current market price. Stocks of companies having a

high Price Earnings Ratio are frequently viewed as promising growth opportunities. This,

however, is not always the case, given the erratic nature of stock prices. In order to determine if

shares of stock are overpriced or underpriced, investors use the price-earnings Ratio (P/E). The

price-to-earnings ratios of Gamma Plc and Alpha Plc are 18 and 27, respectively. Since the Ratio

is less than the market price of equities, they are undervalued. Because of this, both businesses

can thrive and attract customers and capital. It would be preferable to invest in Alpha Plc, which

has a more excellent PE ratio (Babalola and Abiola, 2013).

Conversely, Gamma Plc stock sells at 76.5 compared to Alpha Plc at 114.5 dollars. Gamma Plc

has 12000 shares as compared to 17000 shares of Alpha Plc. Alpha Plc is more lucrative due to

the PE ratio and dividend payments. Despite paying 0.1 dollars less than Gamma Plc, investors

should pick Alpha Plc primarily due to the stock price.

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Ratio analysis

Ratios are a critical financial metric in analyzing the profitability of a company. Under ratio

analysis, we assess a company's liquidity levels, solvency, and profitability levels. These three

significant clusters of ratios help assess and analyze every aspect of company operations

comprehensively(Babalola and Abiola, 2013). Similarly, it is essential to look at the prospects of

an investment project. Is the project viable in the future?

 Liquidity ratios
Liquidity ratios are financial metrics used to assess a company's or project's liquidity. By

liquidity, we mean the ability to meet its current liabilities quickly. Can the company repay its

short-term debt easily without having to borrow? Similarly, liquidity ratios are used to assess if a

company can meet any unexpected expenses in the short term and if it has any assets that it can

convert into cash quickly and meet these short-term debts (Breuer et al. 2012).

Gamma alpha
current ratio= current assets/current liabilities
current assets 193000 188000
current liabilities 105000 96000
CURRENT RATIO 1.84 1.96

CASH RATIO=(cash +marketable securities)/current liabilities

cash 24000 17000
marketable securities 40000 14000
current liabilities 105000 96000
CASH RATIO 61% 32%

QUICK RATIO= current assets-inventory)/current liabilities

current assets 193000 188000
inventory 66000 97000
current liabilities 105000 96000
QUICK RATIO 1.21 0.95
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The current Ratio is the starting point for evaluating liquidity. Use this Ratio to see how quickly

and easily a corporation can pay off its short-term loans. The current Ratio for Gamma Plc is

1.84, while for Alpha Plc, it is 1.96. Both businesses have more than enough cash to pay down

their debts, dollar for dollar. However, at 1.96, Alpha Plc appears to be more liquid. Alpha Plc

was chosen because of its favorable current Ratio. Aside from the quick Ratio, the cash ratio is

also essential. The cash ratio is a measure of a company's liquidity that indicates how easily it

can meet its short-term obligations from its cash on hand and short-term investments. The cash

ratio for Gamma Plc is 0.61, whereas, for Alpha Plc, it is only 0.32. That means Gamma Plc has

a more remarkable ability to meet its short-term obligations with its current cash on hand than

Alpha Plc has. However, neither company has sufficient cash (measured by the cash ratio) to

cover its short-term debts (Breuer et al. 2012).

Finally, the quick Ratio expresses the extent to which a corporation can meet its short-term

debt obligations by solely using its most liquid assets. The Ratio helps indicate to both internal

management and external investors whether or not there is a risk of the company running out of

cash. More so than other liquidity ratios like the current Ratio, the quick Ratio matters because it

takes the most cautious approach to represent how a corporation might raise cash. Compared to

Alpha Plc, Gamma Plc has a quicker ratio of 1.21. Gamma Plc has superior liquidity ratios to

Alpha since this Ratio indicates how a company generates revenue. Simply put, Gamma Plc has

greater short-term liquidity than Alpha Plc (Madushanka and Jathurika, 2018).

 Solvency Ratios

Solvency ratios are used to assess a company's ability to remain profitable in the long run by

covering long-term debts. Companies make decisions on a two-aspect modal—the short-term

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and long-term goals. Under solvency ratios, we considered the financial leverage and

proprietorship ratios.

GAMMA ALPHA
Financial Leverage= Total Assets/ Total Equity
total assets 266,000 323,000
total equity 161000 195,000
FINANCIAL LEVERAGE 1.65 1.66

Proprietary Ratio= Total Equity/ Total Assets

total equity 161000 195,000
total assets 266,000 323,000
Proprietary Ratio 61% 60%

The effect of interest-bearing and non-interest-bearing debt is combined in the Financial

Leverage ratio. The purpose of this Ratio is to identify how much equity is held by Shareholders

as opposed to Debt holders/Creditors of a company. A company's indebtedness is lower if its

assets are supported mainly by equity shareholders rather than debt. For a company to take on

more debt in order to finance its assets, the Ratio must increase. A mere 0.1 point separates the

leverage ratios of Gamma Plc and Alpha Plc. The two corporations' use of debt to fund their

assets is a red flag for financiers. The same holds for a business: lower ratios are preferable

(Madushanka and Jathurika, 2018).

The Proprietary ratio is the second important metric. This Ratio determines the proportion

of a company's total assets that come from shareholders' money. This figure represents the total

amount of money shareholders spend on the company's assets. In general, the lower the Ratio,
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the less leverage a company has and the lower its financial risk. Compared to Alpha Plc's 60%,

Gamma Plc possesses 61%. More than half of shareholders' funds are used to finance assets

based on these ratios. Using shareholder stock as collateral for debt acquisition is a positive

development in and of itself (Breuer et al. 2012). Both corporations rely heavily on debt finance

to sustain their operations over the long haul. Alpha Plc has high funding relative to its liquidity

ratios since it is focused on long-term rather than short-term gains.

 Profitability ratios

Profitability ratios are financial metrics used to assess a company's ability to use its assets and

equity to generate revenue. Under these ratios, we consider the PE ratio, ROA, and ROE.

gamma alpha
PRICE/EARNINGS RATIO=share price/EPS
Share price 76.5 114.48
EPS 4.25 4.235294118
P/E 18 27.03

RETURN ON ASSETS= net income/total assets

net income 51000 72000
total assets 266000 323000
ROA 19% 22%

RETURN ON EQUITY= net income/shareholders’ equity

net income 51000 72000
shareholders’ equity 161000 195000
ROE 32% 37%

Alpha Plc has a ROA ratio of 22% compared to 19% of Gamma Plc. Return on assets assesses

the ability to use assets to generate revenue. Alpha Plc is using its assets more to generate
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revenue for the company. Coincidently, Alpha Plc has a higher ROE ratio at 37% compared to

32% of Gamma plc. The higher the ROA and ROE, the better for a company (Breuer et al. 2012).

PART 2

Corporate Governance and CSR

Corporate Governance

A company's shareholders, management, and Board of Directors, as well as any other

necessary parties, interact within the context of corporate governance. Corporate governance is

crucial, and so is the creation of policies in this area that are binding and uniformly followed.

Good corporate governance is essential for businesses but has societal benefits. Boards of

directors and CEOs rely on corporate governance as a framework for conducting business with

integrity and transparency. Responsibility, openness, and equity are at the heart of corporate

governance's guiding principles. All four of these tenets are intertwined with the CSR initiatives

of the organization (Bhagat and Bolton, 2019).

Back to the original research issue, corporate governance is essential. In order to satisfy

all stakeholders, the corporation needs to have excellent corporate governance. Nobody wants to

put money into a losing business. The same holds for the company's ability to steer its

operations. The corporation has a firm commitment to operational efficiency. The connection

between corporate governance and social responsibility is becoming increasingly acknowledged.

Good corporate governance and social responsibility go hand in hand, and this helps businesses

maintain stability (Zaman et al., 2022). Corporate social responsibility (CSR) and corporate

governance (CG) are interwoven in many ways. Supporting efforts to develop control

mechanisms, boost shareholder value, and boost stakeholder and customer satisfaction is
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possible through the integration of CSR and good corporate governance. There is no creepiness

in business when all stakeholders know how the company operates thanks to good corporate

governance. A corporation cannot function without a steady stream of information and open lines

of communication. Every stakeholder involved should constantly have access to the latest details.

Investors prefer to put their money into safe companies, which is a crucial approach to make

them feel at ease (Zaman et al., 2022).

Positive performance and long-term viability result from a corporation with a culture of integrity

fostered by strong and effective corporate governance. Its primary goal is to reduce the

occurrence of errors by increasing everyone's responsibility for preventing them. Good corporate

governance sends a message to investors and other stakeholders that an organization is well-run

and that management's priorities align with those of the broader business community. In this way,

it can give a business a significant edge in the market (Naciti et al. 2022). The public's trust in

corporations is bolstered when excellent corporate governance practices are in place. Legal

systems were developed to safeguard communities from potential dangers and to prevent

recurring issues. Recent corporate crises have highlighted the importance of the relationship

between businesses and Society.

Risk Analysis & Information Availability

The reality is that no business is completely safe. There is a full spectrum of possible

outcomes, from the least likely to the worst. Because they can never be eliminated, firms must

always be prepared for the possibility of loss. As a result, the dangers faced by various sectors of

the economy vary (Araz et al., 2020). The digital telephone industry is not vulnerable to dangers

or threats. Technological progress is a significant threat in this sector. There is always some new

technological development by the time the sun rises. This means that one party has benefited
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from the business world while another has lost and will have to move up the corporate ladder or

get out of the industry altogether. Because of technological progress, the corporation needs a

promising strategy and policy to deal with this inevitability. In particular, information and

communications technology (ICT) companies have a pressing need for up-to-the-minute data to

maintain product viability in a rapidly evolving market. Just as we formerly had analog phones,

we now have digital phones, and the future may contain still more innovations. Maintaining a

profitable business requires constant vigilance and creative problem-solving (Ivanov and Dolgui,

2021).

Network strength and coverage are the second threat to the digital phone market. This

threat is intrinsic to technological advancements, so it is crucial to maintain enough reliable

network connectivity at all times. Unprecedented daily call volume should never strain the

bandwidth's capabilities. A day of spotty network reception is money down the drain for digital

phone companies. Businesses could make some expensive blunders if this risk is not accounted

for.

Cloud storage presents an additional threat to the digital economy. Many businesses rely

on multi-cloud and hybrid cloud infrastructures to give them the nimbleness and adaptability

they need to compete in the digital age. However, there are potential downsides to this change,

most notably concerning the management of cloud systems. Misconfigured security settings and

insufficient detection are the two most common threats. The hazards are not limited to potential

attacks on individual virtual machines or cloud services but also include a lack of response

capabilities and oversight of all operations. Organizations require all-encompassing governance

frameworks for their cloud deployments to combat these dangers. If they do not, they can find it

hard to adapt to the rapid speed of change (Araz et al., 2020).

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The third threat to the digital phone market is the enormous amounts of data created that

provides cybercriminals an attractive target. Companies should be aware of these dangers and

take precautions before using IoT technologies. With careful preparation and implementation, the

Internet of Things may be a reliable and secure component of any digital transformation plan.

Over the years, cybercrime has become a significant threat to the mobile industry. There is no

way to overstate the importance of taking precautions to protect the confidentiality of sensitive

information (Ivanov et al., 2019). Protecting people's privacy and preventing scammers from

listening in on their conversations is vital. Although mobile providers have firewalls and other

procedures to protect their customers' information, these systems still require frequent

monitoring. Any form of cybercrime threatens business operations and could result in financial

losses.

Corporate Social Responsibility

The concept of corporate social responsibility has become increasingly important in

recent years. It is crucial to make sure businesses are doing well in the world. Any change in the

business sector will inevitably be driven by digital innovation. There is a shift occurring in

several sectors toward an entirely digital strategy for promotion, sales, and internal

administration (Ali et al., 2020). Businesses that value their reputations as trustworthy and

reliable must prioritize CSR. As a result of the interplay between these two revolutionary

changes, companies may find it simple and enjoyable to include their staff in worthwhile

charitable initiatives. The best approach to create observable change in the world while

understanding the company's and each employee's true impact is through a digitalized Corporate

Social Responsibility (CSR) platform (Zaman et al. 2022).

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Corporations now have a greater sense of responsibility and accountability to their

stakeholders due to the rising attention paid to environmental, social, and governance issues

(ESG) and corporate social responsibility (CSR). Thus, companies are putting more pressure on

themselves to adopt and implement sound corporate governance procedures to strengthen their

bonds with the communities in which they operate. The most significant incentive for businesses

to prioritize sustainability is its positive impact on their bottom line (Latapí Agudelo et al., 2019).

To be successful, businesses must take the initiative in ESG and CSR. The connection between

organizational governance and social accountability, sustainable development, and broader

societal issues has been thrust to the forefront due to shareholder activism, a movement

demanding public accountability on all things sustainability.

There is a clarion cry to ensure locals benefit from a business's presence. , it is essential

for both organizations to incorporate CSR into their long-term plans and objectives. As a digital

phone tycoon, it is your responsibility to ensure that your company is profitable and that the

network boosters your company produces help strengthen Society's networks. These boosters

should not interfere with other networks in the vicinity but should improve coverage (Lindgreen

and Swaen, 2010).

Conclusion & Recommendation

Companies are always going to be profit oriented. With this in mind, we can conclusively say

that Alpha Plc is the best suitable project for the company. Alpha Plc is viable in both the long

run and the short term. Despite having lower liquidity ratios, the company cannot fully meet its

short-term debts (Breuer et al. 2012). The company also looks profitable regarding share price

and the PE ratio. Looking at the financial statements, we can conclude that Alpha Plc has more
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sales and is generating more net income than Gamma Plc. Similarly, a look at inventory sees the

company making more than one turnover denoting the sale of merchandise.

Information is also an essential aspect of success in the digital phone industry. As tech advances

take the stage, there is a need to ensure information is always relayed and on time or easier

management and course of action. The company management needs to stay upbeat and on their

toes to ensure success (Lindgreen and Swaen, 2010).

A couple of recommendations can be made concerning this research report. One

recommendation to make is on inventory management. The company is trading in the digital

phone industry. The company needs to ensure that they manage its inventory levels adequately.

With the industry being tech-driven, inventory levels should be a cause of concern. A single

addition to the digital phone might immediately reduce the worth of the phone. The company

must ensure they move inventory quickly to avoid having stock that is behind in quality terms.

The second recommendation is on liquidity management. It is noted that both investment options

have a problem with liquidity. Especially the chosen company (Alpha Plc) is poorly managing its

liquidity levels. As previously stated, the company is in a tech world where anything changes

daily. The need to have liquidity is to ensure that should such occur, the company acquires the

latest digital phones and remain competitive (Babalola and Abiola, 2013).

The other recommendation is on debt management. As much as Alpha Plc is profitable and the

best-suited project, there is a need to worry about debt levels. The company is financing its assets

largely through debt which is not wise. An unprecedented occurrence, such as the 2020 COVID-

19 pandemic, might lead to company losses (Ting et al., 2020). The company assets, primarily

inventory, must be equity financed and wholly owned to ensure returns. The company is using
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much of its money to repay interest on debt instead of paying dividends and improving its

business operations.

The last recommendation is on risk management. In the digital phone industry, we can expect an

array of risks waiting to pounce on the company. There is a need to ensure a robust risk strategy

to maneuver any risk. Similarly, there is a need to ensure the company has a societal benefit and

not only make profits. Let Society feel the impact of this company (Sánchez‐Torné et al. 2020).

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