Infosys Technologies Ltd Essay

2338 words - 10 pages

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ANALYSIS OF
FINANCIAL STATEMENTS
ASSIGNMENT





INFOSYS TECHNOLOGIES LTD
BY
RAKSHA RAO
2927
AFS 2

INFOSYS TECHNOLOGIES LTD

BALANCE SHEET ANALYSIS
1. What current assets are included on the balance sheet?
- Current assets included in the balance sheet are:
Current Assets | 31st March 2009 | 31st March 2008 |
Sundry Debtors | 3390 | 3093 |
Cash and Bank Balances | 9039 | 6429 |
Loans and Advances | 3164 | 2705 |
Total | 15593 | 12227 |

2. Analyze the accounts receivable and allowance account.
- Accounts Receivables include Sundry Debtors which has increased from Rs 3093 to Rs 3390 cr. Debtors include debts which are outstanding ...view middle of the document...

Depreciation for assets purchased/sold during a period is proportionately charged. The useful lives of the assets are estimated as follows:
Buildings 15 years
Plant & Machinery 5 years
Computer Equipment 2-5 years
Furniture & Fixtures 5 years
Vehicles 5 years
Intangible assets are amortized over their respective individual estimated useful lives on a straight line basis, commencing from the date the asset is available for the company to use.

5. What forms the part of other assets (excluding PPE and current assets)?
-Assets other than PPE which are a part of Other Assets are Buildings, Furniture and Fixtures, Vehicles, Computer Equipment, Land- Leasehold and Free-hold and Intangible assets.

6. What current liabilities are included on the balance sheet?
-Current liabilities include sundry creditors for goods and services, accrued salaries and benefits which include salaries and bonus and incentives, other liabilities which include provision for expenses, retention monies, withholding and other taxes payable, mark to market loss on forward and option contracts, payable for acquisition of subsidiary, gratuity obligation-unamortized amount relating to plan amendment, advances received from clients, unpaid dividend, unearned revenue.

7. Explain ‘Provisions’, if any indicated
-The company has provided for the following provisions in the balance sheet. Provisions include provisions for proposed dividend, tax on dividend, income taxes, unavailed leave, post-sales client support and warranties. Proposed dividend is the major constituent of Provisions followed by Provision for Income Taxes.

8. Does the company have long term debt? How much?
-No, the company does not have any long term debt.

9. Does the company have any ‘commitment’ and ‘contingencies’? Explain.
-Yes, it includes estimated amount of unexecuted capital contracts, outstanding guarantees and counter guarantees to various banks, in respect of guarantees given by those banks in favour of various government authorities and others, claims against the company not recognised as debts, forward contracts outstanding and options contracts outstanding.

10. What stockholder’s equity accounts are included on the balance sheet?
-The stockholder’s equity accounts include
Equity Shares of Rs 5 each.
There has been a change in the total number of shares outstanding as employees have exercised their stock option plan provided by the company.
Apart from this, there are Reserves and Surplus to be included to the shareholder’s accounts.

Questions
1. What are the changes taking place in WC position and is that position growing stronger or weaker?
  | 31-03-2009 | 31-03-2008 |
Current Assets | 15593 | 12227 |
Current Liabilities | 3305 | 3731 |
Working Capital | 12288 | 8496 |

The Working Capital has increased from 2008 to 2009 by 44.7%. This is mainly because the cash balance with the company has increased by around Rs 2610 cr...

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