British Airways Plc Annual Report and Accounts
Year ended 31 December 2012
Company registration number: 1777777
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Contents
Officers and professional advisers 1
Business review and Directors’ report Business review Management review Financial review Internal controls and risk management Directors’ report
2 5 8 12
Directors’ responsibilities statement in relation to the financial statements
14
Independent auditors’ report
15
Group financial statements Group consolidated income statement Group statement of other comprehensive income Balance sheets Cash flow statements Statements of changes in equity Notes to the accounts Operating and financial statistics Fleet table
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We monitor our operational performance through a broad range of measures at many levels. Departure punctuality is our primary measure, as high performance here requires other operational processes to run smoothly, and also because it is a key driver of customer satisfaction. Our headline measure of punctuality is ‘Ready to Go’, which focuses on the aspects of the departure process within our control. In 2012 55 per cent of flights were ‘Ready to Go’, being prepared for departure at three minutes before the scheduled departure time, and 79 per cent of flights departed within 15 minutes of schedule. The use of technology to improve the customer service experience is paying dividends in goodwill. For example, iPads have now been issued to more than 2,000 senior cabin crew, which enables them to provide insight into our customers’ preferences across a whole range of areas, from special meal requests to onward travel plans. Cabin crew can deliver a truly bespoke service with this information at their fingertips. Furthermore, if any customer service issues arise in the air, cabin crew can inform ground-based colleagues in a timely fashion and action can be taken quickly to resolve any problems. Towards the end of 2012 BA also conducted a series of real-time customer survey trials. The trials were part of the airline’s commitment to customer service.
Investing selectively in the product
BA is investing
Item 7.| |MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS| | |25| |
Socioeconomic Status is where a particular person or group of people stand in regards to social class. The main measurement that determines one's socioeconomic status is level of education, occupation and income. Although it may not be considered a factor in child development, socioeconomic status can actually play a huge role in determining what kind of adolescent a child develops into. It can influence a child’s morals, self-esteem, grades and many more aspects of a child's life. Socioeconomic status can play a role in determining where a person resides, the occupation they end up getting, their education and their income as well. So, although one’s socioeconomic status is technically made up of these aspects, one can be born into a low socioeconomic status which could result in them continuing to have one throughout their life. It is a cycle that one must break in order to change the outcome. Low socioeconomic status can result in child poverty. Child poverty over the years has risen and fallen but has remained consistently apparent in America. Child poverty can have detrimental effects on developing children and adolescents. It may influence the way they are raised, taught, cared for and many more aspects of the child's life which are important for successful development. Low socioeconomic status can determine how well children and adolescents develop and the type of person they develop into, including
Socioeconomic status influences health care quality and outcomes. Patients of lower socioeconomic status are more likely to have worse self-reported health, lower life expectancy, and suffer from more chronic conditions when compared with those of higher socioeconomic status. As a result, patients of lower socioeconomic status, in which we will encounter throughout our career’s, require more care and attention during their visits due to this lack of access. These individuals typically need the most care and unfortunately, we will not see them as often compared to other socioeconomic groups. An additional additive for this population may include providing them with take home exercises in which they are able to perform on their own. That is if they are invested enough to complete them without further supervision. While some hospitals are willing to revise their current policies, to basically “write off” the lower class, we as athletic trainers have to be advocates for these individuals who make up the majority of the population. The first step that we can take involves going a step above to the school board and asking for better nutritional options regarding school lunches. Most school lunch options fail to include fresh alternatives consisting of mostly processed food that can be easily distributed to a large number of students. Another way in which we can promote healthy eating habits is by utilizing social media to share coupons and local grocery store ads to the parents of
| |financial statements related to cash and cash equivalents, receivables, and inventories. | | |
Socioeconomic status (SES) is the strongest determinant of health outcomes (Marmot & Bell, 2011). Parents and children of lower socioeconomic status are at higher risk of negative oral health outcomes and poor oral health-related quality of life (Jones, Shi, Hayashi, Sharma, Daly, & Ngo-Metzger, 2013 and Wells, Caplan, Strauss, Bell & George, 2010). Women with lower socioeconomic status are 30% less likely to utilize dental services. Likewise, they are 30% more likely to report unmet dental needs than women in higher socioeconomic gradients (Kaylor, Polivka, Chaudry, Salsberry, & Wee, 2010).
Humans are a very unique species, as Ed Glaser says, “humans are a social species who gets more intelligent by being around other people” (Glaser 2014). However, when a group of very different people are put into a room and asked to solve a problem, there will be conflicts as every individual has their own opinion. So, do cities bring out the best and worst in human condition? Yes, because there are pros and cons with cities and how they affect our communities.
Socioeconomic status (SES) is often conceptualized in literature to include income, education, and occupation. There are a number of different pathways through which SES effects child development; environmental and parental influence will be emphasized. Low SES children are disproportionately exposed to damaging physical and social environments (Evans, 2006). The social environment for children of low SES is often deprived of parental interaction. Parents of higher SES often engage in more rich conversation, provide more scaffolding, and are more responsive, often enforcing less punitive discipline in comparison to parents of a low SES (Hart & Risley, 1995). Duncan and Brooks-Gunn (2000) explain that low SES has the most significant influence
Current and historical Financial Statements (Income Statement (I/S), Balance Sheet (B/S) and Statement of Cash Flows) from the three most current years for the firm
In a sense, a person’s social statuses define who they are and where they stand in the complex structure of social standings with our fellow humans. Some of these statuses we strive to obtain, such as the development of friendships or climbing up the hierarchy of a profession; others are thrust upon us at birth or by happenstance. The former are achieved statuses, a fitting name as such status must be obtained by the achievement of goals set by either individuals or society itself. The latter, those statuses thrust upon individuals, are called ascribed statuses. These include a person’s sex at birth, their race, physical and mental handicaps, etc. Social statuses greatly affect a person’s life, as different statuses beget different reactions from society. This paper will touch on such differences in three areas: sex/gender, race/ethnicity, and socioeconomic status. Sex/gender concerns what sex a person was born into, and what kinds of expectations were placed upon them as they grow into women and men. Race/ethnicity concerns the physical differences of individuals based upon their families’ geographical origins- which can have an impact on traditions passed down within their family as well as determine how they are viewed within our culture. Socioeconomic status is a person’s social class, which is determined by wealth, quality of life, and profession. These classes include the upper class, upper middle class, lower middle class, working class, and the lower class.
Consolidated Statements of Income (in thousands) 2003 2004 2005 Revenue Net sales Cost of goods sold Gross profit/(loss) Gross margin Operating expenses Sales and marketing Engineering and product development General and administrative Total operating expenses Operating income/loss Other income/expense Interest income/expense Other income/(expense) Income before provision for income taxes Income taxes Net income/(loss) Net margin 61,529 41,072 20,457 33.2% 64,063 43,155 20,908 32.6% 60,144 45,835 14,309 23.8%
During the 20th century, Latin America was experiencing a rise in the left due to social inequality. The political left was committed to socialism. Social protests paved the way for the rise to power left. Chileans found themselves without work and ideal living standards due to boom and bust cycles and military dictatorship.
Studies have routinely found that socioeconomic status is one of the most important factors in determining whether or someone is going to vote in elections. Traditionally, the higher someone’s socioeconomic status the more likely they are to vote in elections. It is often thought that this it is due to the fact that the higher one’s socioeconomic status the more they have at state in elections. However, it would seem that during elections with higher than normal levels of participation this tends to be less true. Therefore, the question that is trying to be answered here is if higher levels of voter participation cause the socioeconomic bias to decrease, when compared to years where the voter turnout is less?
Account groups : assets, liabilities, owners equity, revenue and expenses makes up all of the statement of financial position and statement of financial performance. They show us the budgets and also the profit/ loss.
A huge percentage of people in Brazil live below or hover above the poverty line while its wealth is concentrated within the top strata of citizens. A big shortcoming of the ‘Real Plan’ economy is that Brazil hasn’t been able to tackle the social problems that haunt the nation. Due to a lack of effective frameworks, many policies implemented to tackle social disparity were ineffectual and slow-coming.
Table of ContentExecutive Summary1I. Introduction2II. Main Body1. History of British Airways22. Current strategic situation….42.1 Internal analysis42.2 External Analysis52.3 SWOT82.4. Current strategy93. Potential Strategic options124. Recommended strategic direction with rationale164.2 Strategy Evaluation175. Identification of critical success factors186. Performance measurement criteria197. Conclusion218. Bilbliography249. References24Executive SummaryThe main aim of this report is to undertake a review and analysis of British Airways. It is UK's leading airlines both at international and domestic level, with its operations spread over 300 destinations across the world. The report starts with a brief description of the company. Then the