芝加哥论文代写-Myer ltd商业组织的资本结构。Myer是一家从事时尚业务的澳大利亚集团，一直被认为是澳大利亚最顶级的零售或百货商店之一。在2013年，Myer实现了31亿澳元的销售额，成为澳大利亚时尚界的标杆。Myer在澳大利亚和不同行业拥有67家门店。本报告选择Myer ltd作为讨论资本结构和投资资金来源的对象。商业组织的资本结构包括用于购买资产(流动资产和非流动资产)的债务和股本。本报告对Myer ltd近5年的资本结构进行了分析，并进行了同行评审。发行股票、发行债券、留存收益和长期债券是Myer有限公司业务扩展的一些资金来源。
This report is based on financial decisions that business organisation has to make during business operations and this decision can be of business expansion, divestment or other management decisions. For this report Myer Ltd has been selected for the analysis. Myer is in Australian market since 100 years or more and therefore operating in fashion industry. Myer ltd operates in retail industry of Australia. This report discusses about capital structure and financial leverage that capital structure measures from its two major components debt and equity. In this report, peer review has been undertaken between Myer, Woolworth and Wesfarmers operating under same industry. Optimum sources of finance has been analysed and selected for the business expansion of Myer.
Each and every organisation shall maintain optimum capital structure so that they are able to manage fund. Financial leverage of every organisation plays an important role in analysing optimum capital structure of the business organisation. Optimum level of debt and equity shall be maintained in business organisation so that better management of funds is possible. Retained earnings and debentures are two most effective sources of finance that can be used to back business expansion.
Trend analysis enables investor or reader to analyse what trend a company has in terms of performance of some specific points. From the above table, it can be analysed that Myer has stable capital structure in terms of outside liabilities and its equity funds. Although there are fluctuation in its financial leverage, it is because of change in level of equity. Myer has safe capital structure as they are using more equity funds (inside funds) to back or purchase assets from last five years. Low financial leverage shows that company has utilised less funds from outside market as compared to its capacity and the same is the case with Myer (Annual Report, 2015). Myer ltd has retained profits that show they can use these funds in expanding business operations.
Peer review is the activity under which one company is reviewed with its competitors of the same industry and review is on some basis. In the present case of Myer, Woolworth ltd and Wesfarmers ltd has been selected for conduced peer review. Both companies have established market and share common resources. The above table shows the comparison of three companies on the basis of their financial leverage during last five years of period. It can be analysed that Woolworth has most aggressive capital structure as compared to other two because they had fully utilised outside debt and exposed to more financial risk. On the other hand, Myer has low financial risk as they rely more on internal funds. Wesfarmers ltd has optimum level of capital structure as their financial leverage shows optimum level of debt and equity in its capital structure.
Decision- For the purpose of business expansion, combination of retained earnings and debentures shall be used by the Myer. As Myer is financially leveraged company that means having less debt, therefore, issuing debentures maintain optimum level of debt to equity ratio. On the other hand, to curb financial cost burden 35 % or AUD 35 million shall be used from retained earnings.
From the above report, it can be concluded that financial matters of the business organisation shall be maintained effectively. Financial management of business organisation includes maintaining optimum level of capital structure and management of sources of finance. In this case of Myer ltd, they have lower utilisation of debt as their financial leverage is at lower side. As compared to its peers, Myer ltd is relatively less levered organisation in which internal or equity funds are more utilised. On the other hand, for the purpose of investing for business expansion, hybrid option of retained earnings and issue of debentures can be more effective.
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