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财务管理课程论文Anhui Management Development Centre/Anhui Economic Management Cadres Institute BTEC Center
Program: HNC in Business
Unit Title: Managing Financial Resources and Decision
Unit No: 2
Assignment Title: Examine and Manage Financial Resources
Assignment No.: 201,202,
Issue Date: 28,April 2009/28,May/ 2009/11,Jun 2009
Submission Deadline: 12,Oct 2009/16,Nov 2009/27,Nov 2009
Assessor/Tutor: Zhang Jijun
Internal Verifier: Qiao Hui
Student:
Student’s Reg. No:
NOTES TO STUDENTS
Check carefully the submission date and the instructions given with the assignment. Late assignments will not be accepted.
Ensure that you give yourself enough time to complete the assignment by the due date.
Do not leave things such as printing to the last minute – excuses of this nature will not be accepted for failure to hand-in the work on time.
You must take responsibility for managing your own time effectively.
If you are unable to hand in your assignment on time and have valid reasons such as illness, you may apply (in writing) for an extension.
Failure to achieve a PASS grade will results in a REFERRAL grade being given.
Take great care that if you use other people’s work or ideas in your assignment, you properly reference them in your text and any bibliography.
When you refer to the work of other authors in your assignment, you must practice citation by following Harvard System for Referencing.
If you are caught plagiarizing, you could have your grade reduced to zero, or at worst, you could be excluded from the course.
STUDENT’S DECLARATION:
I confirm that this is all my own work.
Student Signature:
ASSESSMENT
ASSESSMENT FOR PASS
Outcome/
Skill Criteria Evidence Feedback Assessor IV
1. Explore the sources of finance available to a business 1.1 Identify the sources of finance available to a business Section in the report identifying the major sources of finance for a business
1.2 Assess the implications of the different sources Section in the repot assessing the implications of different sources of finance.
1.3 Select appropriate sources of finance for a business project Section in the report selecting appropriate sources of finance for the established business.
2. Analyze the implications of finance as a resource within a business 2.1 Assess and compare the costs of different sources of finance Section in the report assessing the cost of different types of fiancé for the business
2.2 Explain the importance of financial planning Section in the report explaining the importance of the flow of financial resources.
2.3 Describe the information needs of different decision makers Section in the report explaining the importance and use of financial information for decision-making purpose.
2.4 Describe the impact of finance on the financial statements Section in the report defining the different types of assets and liabilities owned by the business
3. Make financial decisions based on financial information 3.1 Analyze budgets and make appropriate decisions Section in the report making decisions related to costs and budgeting based on management
3.2 Calculate unit costs and make pricing decisions using relevant information Section in the report making appropriate pricing decisions for the goods or services provided by your business
3.3 Assess the viability of a project using investment appraisal techniques Section in the report using investment and project appraisal techniques to assess the viability of a project.
4. Analyze and evaluate the financial performance of a business 4.1 Explain the purpose of the main financial statements Section in the report explaining the main financial statements, their purpose and use.
4.2 Describe the differences between the formats of financial statements for different types of business Section in the report comparing between two different businesses and comparing their results to industry.
4.3 Analyze financial statements using appropriate ratios and comparisons, both internal and external. Section in the report analyzing financial performance using relevant accounting ratios.
Grading Assessment
M1 identify and apply strategies to find appropriate solutions Apply and analyze detailed knowledge and skills, using relevant theories and techniques .
M2 select/design and apply appropriate methods/techniques Use a range of methods and techniques to collect, analyze and produce information/data.
M3 Present and communicate appropriate findings Coherently present and communicate work using technical language accurately.
D1 use critical reflection to evaluate own work and justify valid conclusions Check validity when collecting, analyzing and processing complex information
D2 take responsibility for managing and organizing activities Evaluate and synthesize relevant theories and techniques to generate and justify valid conclusions.
D3 demonstrate convergent, lateral and creative thinking Show an individual approach in presenting and communicating work coherently, using technical language fluently.
Assessor’s additional comments
Assessor’s signature:
IV agreement: Yes No IV signature:
Student’s Feedback
Student’s signature:
Notes:
Unit 2 Managing Financial Resources
Assignment 1
Scenario
After graduation, you plan to start up your own business instead of being employed. You already have had a good picture about your business, including what you will manage, where to manage your business, what you should buy for its operations, who are your customers and so on. But as we all know, every new business needs money when starting up. Equipment will need to be bought, the workplace established and marketing costs met - all before the first sale is made. Then once you're trading, you'll need cash to pay the bills and keep the business going. As the result, the first step to start up your business is to find and manage the money. That is, you should identify the sources of finance (2.1) available to your business. Then, you should know the use of finance as a resource (2.2) within your business. Besides, you should make financial decisions (2.3) based on financial information available according to your firm.
In the report, you are assigned to finish the following three tasks after giving a clear and concise description about your business, including the business scope, the target market and so on. Now please describe the basic information about the business you plan to start up by filling the following table.
Basic Information about the Business
Name of the business:
Address:
Note: You should write out the definite address so that you can forecast the rent and the market clearly.
Investors and the Amount of Investment:
Name of Investor Amount of Investment The Expected ROI
Note: In the assignment, the number of investors is limited to no more than two. Besides, the amount of investment should be practical and within your capacity.
Type of Business:
□ sole proprietorship □ partnership
□ private limited company □ public limited company
Note: According to the latest Chinese Company Law, one person is also permitted to set up a private limited company.
Main Business
Note: Main business means where you can make money when operating your business.
Target Market:
Note: You are expected to describe the target market in detail.
Organization Structure:
Department/Position Personnel (number) Expected Salary
Note: Generally speaking, a big firm will establish its departments under the direction of CEO as follows: Purchasing Department采购部, Production Department生产部, Sales Department销售部, HRM Department人力资源部, Accounting and Finance Department财会部门, Research and Development Department研发部门and so on. But for a small firm, an employee may be asked to take on a lot of work. So, it’s sensible to start up the departments according to the scale of the firm and the amount of work.
The Money Needed to Start up the Business (the amount and the reasons)
Item Amount Not
Total
Note: Generally speaking, when you want to start up a business, you should have enough money at the beginning to meet the following demands. Such as, license fee注册费, rent租金, fitting expenses装修费, furniture expenses家具费, equipment expenditure设备支出, purchasing costs采购成本, utilities expenses(including water, electricity, telephone, etc.)设施使用费, administration fee(including paper for copying and printing, entertainment, education and training, conference, etc.)行政开支 and so on.
The money needed to start up the business at the beginning is RMB .
The money needed to raise is RMB .
After finishing the table above, please finish the following three tasks according to the established firm.
Task 1
As mentioned above, the first step you should do is to identify the sources of finance available to the business, in which you:
1. Identify the major sources of finance for a firm. Imagine where a business might get money from (short of illegal actions.).
(2.1.1)
2. Assess the implications of different sources of finance you have identified. Such as, legal and financial concerns, ownership of assets purchased, advantages and disadvantages of each kind of source of finance, etc. Illustrate with some examples of the implications. #p#分页标题#e#
(2.1.2)
3. Select appropriate sources of finance for your firm. After analysing the advantages and disadvantages of each source of finance and their suitability as well as other considerations, you have to assess which method of finance would be appropriate for the scenario and why. For example, you might borrow short loan from the bank to run your day-to-day operation, and you might lease a machine you need from a lessor. There could be more than one possible solution; there is no right or wrong answer but that the quality of your reasoning will be crucial.
(2.1.3)
Task 1 is expected to be finished before the date of May. 18, 2010.
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Task 2
The essence of management is effective use of resources. Money is also a resource and there is a need to be careful when using it and that it can be managed effectively. After you have selected the appropriate sources of finance for your business, you should know well the use of finance as a resource within your firm. You are required to:
4. Assess the cost of different types of finance for the company. It’s rare for finance to be provided for nothing. To manage the business well, you should know the cost of each kind of source of finance.
(2.2.1)
5. Explain the importance of the flow of financial resources. Describe the flow of financial resources in your business, explain its importance and suppose what would happen if there were interruptions in funding/finance flow.
(2.2.2)
6. Explain the importance and use of financial information for decision-making purposes. As far as this topic is concerned, you should know that financial information plays a key role in decision-making and different kinds of decision-making purpose need different financial information. Here, you are asked to determine the amount of cash reserves, stock and the credit policy according to your firm.
(2.2.3)
7. Define the different types of assets and liabilities owned by the firm. That is, the components of current assets, non-current assets, current liabilities and long-term liabilities owned by your firm.
(2.2.4)
Task 2 is expected to be finished before the date of Jun. 8, 2010.
Task 3
Running a firm often need you to make a series of financial decisions, such as budgeting, pricing, investment appraisal and so on. Here, you are required to make financial decisions based on financial information available according to your firm.
1. Make decisions related to costs and budgeting based on management information available. .
Your task is to prepare for the year to 31 May., 2010 the following budgets for your firm. (2.3.1)
If your firm is producing and selling goods, please finish the following budgets.
a. Sales budget (in units)
b. Production budget (in units)
c. Raw material purchases budget (in units and ￡)
d. Production cost budget
If your firm is selling goods or offering services, please finish the following budgets.
a. Sales budget (in units)
b. Purchasing budgeting(in units and ￡)
c. Costs of goods/services sold budgeting
This task is expected to be finished no later than Jun. 15, 2010.
2. Make appropriate pricing decisions for the goods or services provided by your business (2.3.2)
Make the price for your goods or services provided by your business based on the normal pricing methods and give the reasons for it.
This task is expected to be finished no later than Jun.22, 2010.
3. Use investment and project appraisal techniques to assess the viability of a project. (2.3.3)
Equipment is needed to run a business. To achieve the objective of financial management, we need to use investment and project appraisal techniques to assess the viability of a project. If your firm need to purchase a piece of equipment, please show us how to make the decision.
An example is followed to show you how to finish task 3.3.
Owing to the boost in sales, the owner of a business has decided to accept the recommendation of the sales and production team and invest in a new piece of equipment for the production line that would automate some of the work currently carried out by staff on the line. Those staff could be better utilised elsewhere in the plant and, in addition, it would speed up the production and help meet the expected demand.
The investigations into the supplier of such a piece of equipment had identified four possible sources.
Machine 1:
A German firm producing a high precision piece of equipment with software allowing different production runs to be catered for.
Machine 2:
The same equipment without the software option secured from a firm in Taiwan.
Machine 3:
A different machine manufactured in Armenia - significantly cheaper!
Machine 4:
Another machine with a different specification but which is suitable for the job required, produced by a firm in the United States.
The costs associated with each machine are as follows:
Machine 1 Machine 2 Machine 3 Machine 4
Initial Cost £550,000 £550,000 £290,000 £460,000
Expected Cash Flow (£)
Year 1 20,000 50,000 15,000 30,000
Year 2 75,000 175,000 80,000 95,000
Year 3 125,000 200,000 120,000 150,000
Year 4 250,000 175,000 100,000 210,000
Year 5 200,000 70,000 60,000 300,000
The firm believes that the likely discount rate will vary from between 4.5% and 6%. The discount tables for selected rates are shown below:
Rate percent
Year 4.5 5.0 5.5 6.0
1 0.9569378 0.9523810 0.9478673 0.9433962
2 0.9157300 0.9070295 0.8984524 0.8899964
3 0.8762966 0.8638376 0.8516137 0.8396193
4 0.8385613 0.8227025 0.8072167 0.7920937
5 0.8024510 0.7835262 0.7651344 0.7472582
Under this case, the task is to present an argued case for one of the machines that the firm should invest in.
In task 3.3, you should use at least two appropriate methods of investment appraisal in your presentation and you should highlight the relative costs and benefits of each method.
Besides, list other factors that will need to be considered in taking the decision in addition to the quantitative analysis given above.
指导财务管理课程论文This task is expected to be finished no later than Jun. 30, 2010.
Instructions
Use a written report layout and include an introduction and conclusion as well as the solutions to all the learning outcomes.
It will not be tolerated and will be dealt with severely that students plagiarise and download large amounts of information from external sources to their assignments. Although you should make full use of any source material, which would normally be an occasional sentence and/or paragraph (referenced) followed by your own critical analysis/evaluation, you could receive no marks for the work, or at worst, you could be excluded from the course.
Student could research together, and in many cases, are actively encouraged to do so. Nevertheless, you must analyse, evaluate and critically appraise the requirements of your assignment and produce the work on your own.
The safety of your assessments is your responsibility. You must not permit another student access to your work.
Unit 2 Managing Financial Resources
Assignment 2
Scenario
You are recently employed as a trainee financial staff by a local listed company. At present, the shareholders of the company want an analysis report about the financial performance of the business in 2006. In the report, you are required to compare the financial performance of your company with that of another similar company and the industry standards to see whether your company is better or worse than another similar company and the average. You are told that you can obtain the needed accounting data and accounting information from the annual report of the company in 2006, which has been published in some formal newspaper and websites such as www.cninfo.com.cn.
Tasks
Your mentor would like you to produce a report with three main sections to analyze the financial performance of your company, in which you:
1. Explain the main financial statements, their purpose and use. Generally, the main financial statements are profit and loss account, balance sheet, notes to accounts and cash flow statements. You are required to describe the basic structure of these main financial statements in the business, interpret them and explain their purpose and use.
(2.4.1)
2. Analyse financial performance using relevant accounting ratios. Broadly speaking, accounting ratios are grouped into four categories: profitability ratios, activity ratios, liquidity ratios and financial leverage ratios. You will have to analyse the financial performance of the company using the four types of accounting ratios.
(2.4.3)
3. Make comparisons of the financial performances between your company and another company in the same industry and compare their results to industry standards. The key to obtaining meaningful information from ratio analysis is comparison. Financial ratio analysis is an effective instrument when comparing two or more firms within the same industry. These results can provide good gauge of how a firm performed with relation to another, regarding its financial issues. Besides, the financial ratios of a firm can be compared to the industry average. This information is vital when assessing how the firm stacks up against all the others within the same industry. So, you are required to comparing these ratios with those in another similar company and compare their results to industry standards and make relevant analysis to see whether your company is better or worse than the other company and the average within its specific business sector.
(2.4.2)
Instructions
Use a written report layout and include the solutions to all the tasks. At the same time, you are requested to present a brief presentation about task 2(2.3.2) and 3(2.3.3). #p#分页标题#e#
It will not be tolerated and will be dealt with severely that students plagiarise and download large amounts of information from external sources to their assignments. Although you should make full use of any source material, which would normally be an occasional sentence and/or paragraph (referenced) followed by your own critical analysis/evaluation, you could receive no marks for the work, or at worst, you could be excluded from the course.http://www.ukassignment.org/cwgllw/2012/0207/19261.html
Student could research together, and in many cases, are actively encouraged to do so. Nevertheless, you must analyse, evaluate and critically appraise the requirements of your assignment and produce the work on your own. The safety of your assessments is your responsibility. You must not permit another student access to your work.
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