Analyzing the figures of consolidated statement of cash flows of the world's biggest publicly traded oil and gas corporations

2020 ◽  
Vol 19 (6) ◽  
pp. 1101-1120
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Cash Flow ◽  
Oil And Gas ◽  
Cash Flows ◽  
Annual Reports ◽  
Capital Expenditures ◽  
Publicly Traded ◽  
The Public ◽  
Statement Of Cash Flows ◽  
Oil And Gas Companies

Subject. The article investigates key figures disclosed in consolidated cash flow statements of 25 leading publicly traded oil and gas companies from 2006 to 2018. Objectives. The focus is on determining the current level of values of the main components of consolidated statement of cash flows prepared by leading publicly traded oil and gas companies, identifying key trends within the studied period and factors that led to any transformation. Methods. The study draws on methods of comparative and financial-economic analysis, as well as generalization of materials of consolidated cash flow statements. Results. The comprehensive analysis of annual reports of 25 oil and gas companies enabled to determine changes in the key figures and their relation in the structure of consolidated cash flow statements in the public sector of the industry. It also established main factors that contributed to the changes. Conclusions. In the period under study, I revealed an increase in cash from operating activities; established that capital expenditures in the public sector of the industry show an overall upward trend and depend on the level of oil prices. The analysis demonstrated that even integrated companies’ upstream segment prevail in the capital expenditures structure. The study also unveiled an increase in dividend payments, which, most of the time, exceeded free cash flows thus increasing the debt burden.

Analyzing the assets of the world’s leading public oil and gas corporations

2020 ◽  
Vol 19 (2) ◽  
pp. 359-373
Author(s):  
O.V. Shimko
Keyword(s):  
Statistical Analysis ◽  
Public Sector ◽  
Oil And Gas ◽  
Oil And Gas Industry ◽  
Annual Reports ◽  
Economic Activities ◽  
Public Companies ◽  
Gas Industry ◽  
The Public ◽  
Oil And Gas Companies

Subject. The article analyzes assets of the largest public companies operating in the oil and gas industry from 2006 to 2018, like ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, PAO Gazprom, PAO NK Rosneft, PAO LUKOIL, and others. Objectives. The aim is to make a comprehensive statistical analysis of changes in absolute values and the structure of assets in the public sector of the oil and gas industry. Methods. The study employs methods of statistical analysis and generalization of materials of official annual reports based on the results of financial and economic activities of the largest public oil and gas corporations. Results. Using the comprehensive analysis of balance sheets of 25 oil and gas companies, I determine changes in the size and structure of assets in the public sector of the industry, and establish the main factors that contributed to this transformation. Conclusions. The findings revealed an increase in the book value of assets in the majority of leading public oil and gas companies. Large mergers and acquisitions and agreements for new field developments also contributed to the increase. The study established that the protracted industry crisis resulted in reducing the proportion of current assets in order to release funds for revenue increase. That was why oil and gas companies sought to accelerate the collection of receivables, primarily by means of trade component. It was also determined that they channeled a part of funds thus collected to short-term financial investments.

Analyzing the liquidity ratios of the world's leading public oil and gas corporations

2020 ◽  
Vol 26 (7) ◽  
pp. 1571-1589 ◽  
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Oil And Gas ◽  
Comprehensive Analysis ◽  
Annual Reports ◽  
Main Factors ◽  
Economic Analyses ◽  
Oil And Gas Companies

Subject. This article explores the key liquidity figures of the twenty five largest public oil and gas companies between 2006 and 2018. Objectives. The article aims to determine the current values of the key liquidity figures of the largest public oil and gas companies, identify key trends in their changes within the study period, and identify the factors that have caused these changes. Methods. For the study, I used comparative, and financial and economic analyses, and generalization. Results. Based on a comprehensive analysis of the twenty five oil and gas companies' annual reports, the article identifies trends in the changes in the key liquidity indexes in the industry's public sector, and establishes the main factors that affected these changes. Conclusions and Relevance. The largest public oil and gas companies are able to maintain their own liquidity in times of crisis, even. The industry pays the most attention to increasing the instant liquidity ratios. The results of the study can be used to evaluate, forecast, and develop measures to enhance the liquidity of public oil and gas companies.

Analyzing the figures of consolidated income statements of the world's biggest public oil and gas corporations

2020 ◽  
Vol 16 (5) ◽  
pp. 885-904
Author(s):  
O.V. Shimko
Keyword(s):  
Oil And Gas ◽  
Financial Economic ◽  
Significant Rise ◽  
Annual Reports ◽  
Positive Development ◽  
The Public ◽  
Income Statement ◽  
Net Revenue ◽  
Main Components ◽  
Oil And Gas Companies

Subject. The article considers the main figures of consolidated income statements of 25 leading public oil and gas companies, from 2006 to 2018. Objectives. The purpose is to determine the current values of the main components of consolidated income statements of leading public oil and gas companies, unveil key trends during the period under review. Methods. I employ methods of comparative and financial-economic analysis, as well as generalization of materials of consolidated income statements. Results. The comprehensive analysis of annual reports of 25 oil and gas companies enabled to capture changes in the main figures and their interrelation in the structure of consolidated income statements in the public sector of the industry. I also established the key factors that contributed to the changes. Conclusions. The study revealed a decrease in the shareholders' net profit at the industry level, which occurred against the backdrop of a growth in net revenue from core activities. The main factor of such changes in the income statement structure was the increased expenses on core business, which were ahead of revenue, primarily due to depreciation, depletion and amortization of assets. A positive development was a general reduction in the tax burden on income. A return to the previous structure is possible only if there is a significant rise in oil prices, a reduction in expenses on core activities, and a decrease in excise taxes, duties and all other taxes not related to income tax.

scholarly journals The Foreign Practice of Large Merger & Acquisitions in the Public Sector of the Oil and Gas Industry

2020 ◽  
Vol 25 (1) ◽  
pp. 39-52
Author(s):  
O.V. Shimko
Keyword(s):  
Public Sector ◽  
Oil And Gas ◽  
Oil Prices ◽  
Oil And Gas Industry ◽  
Annual Reports ◽  
Gas Industry ◽  
Share Capital ◽  
Market Capitalization ◽  
The Public ◽  
Control Premium

Subject. The article analyzes 12 major M&A deals in the public sector of the oil and gas industry in 2000–2019. Industry indicators are measured on the basis of data from ExxonMobil, Chevron, ConocoPhillips, Occidental Petroleum, Devon Energy, Anadarko Petroleum, EOG Resources, Apache, Marathon Oil, Imperial Oil, Suncor Energy, Husky Energy, Canadian Natural Resources, Royal Dutch Shell, BP, TOTAL, Eni, Equinor (Statoil), PetroChina, Sinopec, CNOOC, Petrobras, Gasprom, Rosneft Oil Company and LUKOIL. Objectives. I study on what terms M&A are concluded in the public sector of the oil industry and analyze the approval and changes in the current premium for control over the ratio of share capital to market capitalization. The article also evaluates how the above deals influenced the market capitalization of companies. Methods. The study employs methods of statistical analysis and summarizing official annual reports on financial and business performance and news releases of major State-owned oil and gas corporations. Results. Having analyzed 12 major M&A in the public sector of the oil and gas industry comprehensively, I traced trends in terms on which such deals are concluded and determined their consequences. Conclusions and Relevance. In the public sector of the oil and gas industry, M&A are found to depend on capitalization, but also sometimes refer to the difference between the market value of assets and liabilities. In the industry, share capital control premium is noted to grow, thus exceeding half of capitalization. Therefore, the least acceptable factors include a combination of high oil prices, commensuration of companies’ capitalization, compensation for share capital and high control premium. On the contrary, market capitalization significantly improved in case of deals implying the compensation with stocks, which took placed during low oil prices.

scholarly journals Accounting and Analysis of Cash Flows of Penal Entities

2021 ◽  
Vol 13 (1) ◽  
pp. 107-124
Author(s):  
Tatyana G. Arbatskaya ◽  
Keyword(s):  
Public Sector ◽  
Cash Flow ◽  
Russian Federation ◽  
Cash Flows ◽  
Entrepreneurial Activity ◽  
Significant Deterioration ◽  
Funding Sources ◽  
The Russian Federation ◽  
Cash Flow Statement ◽  
Statement Of Cash Flows

The global economic crisis, exacerbated by the pandemic of the new coronavirus infection, has led to a significant deterioration in the financial state of most economic entities. This problem has also affected public sector entities receiving budget financing. Even if a given public sector entity is engaged in entrepreneurial activity, with a decrease in sales cash flow decreases, whereas accounts receivable and payable increase. To carry out their statutory activities, state entities of the penitentiary system in the Russian Federation use not only budgetary funds, but also funds received from the sale of products manufactured by convicts. Therefore, the interest of users in the cash flows of penitentiary institutions is steadily increasing. The above strengthens the information and analytical functions of cash flow statements. Unlike other forms of reporting, the cash flow statement should report cash flows during the period classified by operating and investing activities (financing activity is not typical for penitentiary entities). In addition, the statement of cash flows provides useful information not only for controlling the use of budget funds, but also for current and forecast analysis. The article investigates the theoretical principles of accounting of cash flows of public sector entities of the penitentiary system of the Russian Federation. Results of the study include a proposal to improve the form of the cash flow statement by including an analytical feature — the source of financing activities. The study also presents and tests a methodology for analyzing cash flows in the context of funding sources.

scholarly journals PREVENTIVE MEDICINE DEPARTMENT;

2012 ◽  
Vol 19 (02) ◽  
pp. 162-167
Author(s):  
MUHAMMAD AYAZ BHATTI ◽  
MAHMOOD UR RAHMAN
Keyword(s):  
Family Planning ◽  
Public Sector ◽  
Sampling Technique ◽  
Poor Performance ◽  
Cross Sectional Study ◽  
Annual Reports ◽  
Current Status ◽  
Growth Monitoring ◽  
Cross Sectional ◽  
The Public

Objectives: To measure the current status of preventive activities in civil and military hospitals. To compare the quantum ofpreventive and curative activities in the hospitals. To make recommendations for promotion of preventive activities to reduce the curative burdenfrom the hospitals. Study Design: This was a cross-sectional study. Sampling Technique: Universal sampling. All the major military and publicsector hospitals having bed strength more than 400 in Rawalpindi were included in the study. All the preventive and curative work was taken intoaccount. Methodology: A structured questionnaire was developed and data regarding the quantum of work was collected from all the fourmajor Military and civil hospitals having bed strength more than 400 beds through registers and annual reports of the hospital and was analyzedin the form of frequencies, tabulation, cross tabulation, percentages and was displayed in tables and graphs using SPSS (10.5), Microsoft Exceland calculus. Results: Only seven percent work is preventive and ninety three percent is curative. In the preventive activity MH is marginallyhigher than the rest of the hospitals. In all the hospitals among the preventive activities 31% are antenatal visits, 20 % tetanus toxoid injection,19% BCG, Growth monitoring 13%, Measles injection 11% and family planning 6% in all the hospitals. Ante natal activities in the army sectorhospitals are more prominent 39-44% and also in the public sector 17-26%. Next to the antenatal are tetanus toxoids to pregnant ladies whichrange from 16-35% in military and 16-20 % in the public sector hospitals. Growth monitoring is more efficiently carried out in the RawalpindiGeneral Hospital i.e. 17% while in others 7-12%. Family Planning services are delivered very poorly only 9% in RGH and 6% in DHQ, zero % inCMH and 5% in MH. Measles vaccination is carried out efficiently in DHQ 27%, 11% in RGH and 8% in MH and again poorly 3% in CMH. BCG is27% in DHQ, 20% in MH, 17% in RGH and 10% in CMH. Conclusions: The study show that hospitals are showing very poor performance inpreventive aspect and this is the reason that countries like Pakistan are facing economic burden on the national exchequer and this burden willkeep on increasing if no appropriate action is taken.

scholarly journals A One Year Forecasting Project For Publicly Traded Companies

2011 ◽  
Vol 4 (9) ◽  
pp. 73
Author(s):  
Fred Petro
Keyword(s):  
Cash Flow ◽  
Team Member ◽  
Balance Sheet ◽  
Annual Reports ◽  
Publicly Traded ◽  
Accounts Receivable ◽  
Publicly Traded Companies ◽  
Income Statement ◽  
History Of ◽  
One Year

This project is intended to teach students to apply the material covered in their first graduate accounting course. This is accomplished by applying the material to an actual company selected by each team. The project is described as follows: The project includes a computerized spreadsheet preparation of a master budget forecast for an actual publicly traded company for one year into the future. . The dates depend upon when the annual reports are prepared for your company. The forecast begins the day following the last available published annual report. The forecast does not comprise any actual numbers regardless of when the actual annual or quarterly statements are prepared for the company selected. The actual balance sheet, income statement and statement of cash flow from the preceding year are included with the forecasted balance sheet, income statement and statement of cash flow. The company must have a physical inventory, and accounts receivable from sales. The company may not be one in which any team member(s) are employed. The forecast will include the following items:1. Introduction, including the history of the company and a description of the company plan and policies as given in the project2. Sales budget (twelve months).3. Schedule of purchases (twelve months).4. Schedule of collection of credit sales (accounts receivable) and cash sales (twelve months).5. Cash budget (twelve months).6. An Income statement (for the current year and the projected year).7. A Balance sheet (for the current year and the projected year).8. A Statement of cash flow (for the current year and the projected year).9. Cost-profit-volume analysis (twelve months).10. Conclusion and recommendations

scholarly journals The Lexicon of Public Sector Reform in New Zealand 1984 - 1994

2021 ◽  
Author(s):  
◽  
Katherine Jane Quigley
Keyword(s):  
New Zealand ◽  
Public Sector ◽  
Figurative Language ◽  
Annual Reports ◽  
Future Research ◽  
Economic Changes ◽  
Revolutionary Era ◽  
The Public ◽  
Google Search ◽  
Selection Of

<p>This is a study of the lexical effects on New Zealand English of the legal, social and economic changes brought about by the fourth Labour government and its successor during the decade from 1984 - 1994, during which period the New Zealand public sector was radically reformed. In order to carry out this study a corpus of approximately five million written words was compiled, consisting of three parallel sets of documents from four domains of use in the public sector. Chapter One provides the rationale for scoping the study both to this particular ten-year period and to the lexis of four particular government departments, namely The Treasury and the Ministries of Social Welfare, Health and Education. A review of previous related work in the field of lexicography, and the aims and specific research questions which motivated the study, are located at the end of this first chapter. Chapter Two explains the reasons behind the selection of three particular documents for use as data sources: the Annual Reports, the annual Corporate Plans, and the triennial Briefings to the Incoming Government. This chapter also describes the methodology used to determine words for inclusion in the glossary which is located in Appendix I. The advantages and pitfalls of the Google search method are discussed, as are the approaches taken to dealing with multiword units, proper nouns, abbreviations and words of Maori origin. The construction and arrangement of the glossary are explained here, including the basis for selection of citations. In Chapter Three an overview of each ministry's dataset is given in terms of its linguistic characteristics, and the results of the study are described. The penultimate chapter catalogues the discovery of a rich vein of figurative language throughout the documents of the New Zealand Treasury, as evidenced by varied and extended metaphors used to express economic concepts. This chapter gives a brief account of metaphor theory and discusses the methodology used for identification of metaphors in the dataset. The fifth and final chapter of this study sums up the overall findings and points the way towards useful future research in this field. A major part of this study consists of the aforementioned lexicon in Appendix I of New Zealand-specific words from these domains and their illustrative citations. This lexicon is a record of the NZE words used in a particular dataset in the public sector of New Zealand. It amounts to approximately 260 entries supported by 660 citations, which were collected via an exhaustive data search of three types of government document over one decade. These terms are not new in the sense that they first appeared in NZE during the decade of this study, but approximately two-thirds of them are new in the sense that they do not appear in any dictionary of English. This collection of terms constitutes a cultural and historical archive, which records the distinctive identity of New Zealand's public sector as it underwent a revolutionary era of profound political and economic change.</p>

scholarly journals Quality of Disclosure in the Public Sector Enterprises

1978 ◽  
Vol 3 (4) ◽  
pp. 257-264
Author(s):  
D.R. Singh ◽  
S.K. Bhargava
Keyword(s):  
Public Sector ◽  
Annual Reports ◽  
The Public ◽  
Disclosure Of Information ◽  
Organizational Pattern

There is hardly any indepth study on the quality of disclosure in the annual reports of the public sector enterprises. The present study examines this aspect on the basis of the index of disclosure. The findings indicate that there is no uniformity in the disclosure of information. While organizational pattern does not affect the quality of disclosure of information, the influence of nature of industry is evident.

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