Premium Essay

Finance Fo Managers

In:

Submitted By mahmudmunna
Words 3315
Pages 14
An Assignment
On
Finance for Managers

Introduction:
Unique horizon Ltd. is a recently formed in 2002 situated at London, a limited company which is facing increasing growth. They began their business as a family business so their level of financial accountability is low. But now the management needs a financial accountant in order to ensure the accountability and proper management of the firm. However, before that the management needs to know specifically the roles and responsibility of proper financial information. They also need to know about budgeted plans and methods for appraisal of a business opportunity.
We have prepared this report basing on the information provided in the case of Unique horizon Ltd. which complies with the rules and regulations of this UK. Firstly, we have tried to give a theoretical review to the board of directors that will help them to realize the necessity and the total process of keeping financial records and the procedures to maintain these statements. Besides we discussed about the accounting and pricing processes to understand them to operate budgetary activities properly. Then we solve mathematical problems related to the variance over the costing method and a problem related to capital investment decision. Finally we recommend some step which should be taken to the development of the firm in long run.

Task 1: 1.1 Purposes for keeping financial record:
To maintain a venture systematically and smoothly, financial records play a vital role. Financial records represent day to day cash inflows and out flows from a business operation. As an owner of a business, it is a legal requirement to keep records of all business transactions for a period of at least last few years. The purposes for keeping financial records are discussed below * To monitor health condition of the business and making sound business decisions

Similar Documents

Premium Essay

Decision Making

...ese |Banking arrangement |Sole | Business Segment |Business Banking | |Constitution |Sole Proprietorship |Banking with IVBL since |Since Nov 2010 | |Line of activity |Trading of Computer Peripherals |Industry/ Sector |IT | | |Items and Stationery items | | | |Classification | Real Estate NBFC Capital Market Others | |Special Category |Proprietorship |Priority Sector | Yes No | |Sub-section for PSA | Manufacturing Service Enterprise Micro Small | |Proposal Type | Renewal Review Enhancement Fresh Ad hoc Modification Extension | |Last Approval Authority |Regional Office |Last approval on |02.12.2011 | |Limits valid till |30.09.2013 |Mid review date (if any) |- ...

Words: 1230 - Pages: 5

Premium Essay

Case of Northern Forest Products

...US E RE VI PR EW O P ON E R LY T Y ± N OF OT C E NG FO A R GE SA LE LEA OR R N CL ING AS SR O Northern Forest Products OM Case 90 Cost of Capital Directed FO R Northern Forest Products (NFP) was established in the 1800s to log timber in the Great North Woods. In response to changing conditions, the company underwent radical changes in the way it operates and currently it is a large multidivisional corporation. The major focus of the company remains managing over one million acres of timber production and overseeing the manufacture of consumer paper products from pulp derived from its land holdings. Over the years the company has diversified into several other related businesses, such as a moderately sized mill that produces paneling and wood flooring. This operation has developed a consistent outlet for all of its output and therefore is stable. The company is also involved in real estate as a result of developing some of the prime lake front properties from its forestlands for residential and private recreational use. Successful property development during the 1970s resulted in expanded real estate holdings. However, residential development was particularly hard hit during a recent economic downturn, and the company struggles in this area. NFP is aware of the increasing international demand for wood products and is concerned about recent environmental pressures concerning logging. The company believes that diversification strengthens...

Words: 3896 - Pages: 16

Premium Essay

Cost of Capital

...US E RE VI PR EW O P ON E R LY T Y ± N OF OT C E NG FO A R GE SA LE LEA OR R N CL ING AS SR O Northern Forest Products OM Case 90 Cost of Capital Directed FO R Northern Forest Products (NFP) was established in the 1800s to log timber in the Great North Woods. In response to changing conditions, the company underwent radical changes in the way it operates and currently it is a large multidivisional corporation. The major focus of the company remains managing over one million acres of timber production and overseeing the manufacture of consumer paper products from pulp derived from its land holdings. Over the years the company has diversified into several other related businesses, such as a moderately sized mill that produces paneling and wood flooring. This operation has developed a consistent outlet for all of its output and therefore is stable. The company is also involved in real estate as a result of developing some of the prime lake front properties from its forestlands for residential and private recreational use. Successful property development during the 1970s resulted in expanded real estate holdings. However, residential development was particularly hard hit during a recent economic downturn, and the company struggles in this area. NFP is aware of the increasing international demand for wood products and is concerned about recent environmental pressures concerning logging. The company believes that diversification strengthens...

Words: 3896 - Pages: 16

Premium Essay

Business and Finance

...Principles of Management Control Systems 20 Fo rI B ICFAI UNIVERSITY S U se O nl y C la s s of 09 Principles of Management Control Systems 20 Fo rI B ICFAI Center for Management Research Road # 3, Banjara Hills, Hyderabad – 500 034 S U se O nl y C la s s of 09  The Institute of Chartered Financial Analysts of India, January 2006. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic, mechanical, photocopying or otherwise – without prior permission in writing from Institute of Chartered Financial Analysts of India. Fo ISBN 81-7881-995-3 Ref. No. PMCS/A 01 2K6 31 For any clarification regarding this book, the students may please write to ICFAI giving the above reference number, and page number. While every possible care has been taken in preparing this book, ICFAI welcomes suggestions from students for improvement in future editions. rI B S U se O nl y C la s s of 20 09 Contents PART I: AN OVERVIEW OF MANAGEMENT CONTROL SYSTEMS Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Introduction to Management Control Systems Approaches to Management Control Systems Designing Management Control Systems Key Success Variables as Control Indicators Organizing for Adaptive Control Autonomy and Responsibility Transfer Pricing 3 15 28 42 57...

Words: 114680 - Pages: 459

Premium Essay

Management Control

...Principles of Management Control Systems 20 Fo rI B ICFAI UNIVERSITY S U se O nl y C la s s of 09 Principles of Management Control Systems 20 Fo rI B ICFAI Center for Management Research Road # 3, Banjara Hills, Hyderabad – 500 034 S U se O nl y C la s s of 09  The Institute of Chartered Financial Analysts of India, January 2006. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic, mechanical, photocopying or otherwise – without prior permission in writing from Institute of Chartered Financial Analysts of India. Fo ISBN 81-7881-995-3 Ref. No. PMCS/A 01 2K6 31 For any clarification regarding this book, the students may please write to ICFAI giving the above reference number, and page number. While every possible care has been taken in preparing this book, ICFAI welcomes suggestions from students for improvement in future editions. rI B S U se O nl y C la s s of 20 09 Contents PART I: AN OVERVIEW OF MANAGEMENT CONTROL SYSTEMS Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Introduction to Management Control Systems Approaches to Management Control Systems Designing Management Control Systems Key Success Variables as Control Indicators Organizing for Adaptive Control Autonomy and Responsibility Transfer Pricing 3 15 28 42 57...

Words: 114680 - Pages: 459

Premium Essay

Bare Bones

...Bare Bones    Revision Guide AQA A2 Business Studies Unit 4 The Business Environment & Managing Change y y lic po ar e h th ow gr ar et on m y ion lic o yp t ec ot tive pr pec t s st n o em ti un xa idy ta ubs s c e l se w s po ket ies ar eg e m at g str ad y c s tr gin te er ra oli ver ersment n of emorpo m l p o rg ploy xatio ts ke e cl er ers n m lder p yme u ns keho plo a co n io t fla in g lin r e ng hao a ke c eed c a m fis t objectives t fr d men aims an ic environnment m econo enviro ment social nviron ange h legal e e em un ta of c causes ship leader g and proc hange g for c ess entin implem ing change s manag decision plannin rship exch st rates intere tives objecg markets in g emerg tion inflaange rates cto phic fa nemp subsid taxa hea u n envirot l M e ade s on na a n gi ra demog al dec politic ow ons er su n c C change i nfl subunemployateion men si m nt t re gula dy tio p an h envir social u lea ence ns d s fisc ersh al p i olic p y ge leade e cultur nt onme leg al inte stra rnal c teg au infl ic decisio ses enviro n missio tec al envir ecisio nt ra hno onm ns logi ent po cal or c strategi es influenc ent nm han...

Words: 27143 - Pages: 109

Premium Essay

Bsa/375 - Riordan - Part 1

...Yvonne has the ability to direct the analysis team to the key users of the current system, plus provide permission for the team to conduct the necessary information gathering. Other key stakeholders include, but are not limited to * Andrea Gamby - Employee Relations Manager * Carl Green - Employee Relations Specialist (HQ) * Employee Relations Specialist from each Plant Site * Terri Carranza - Compensation & Benefits Manager * Anne Pham - Compensation Analyst * Silvija Peterson - Payroll Manager * Ana Richlich - Payroll/Tax Clerk * Eric Myers - Recruiter-Professional Staff * Marl Carillo - Training & Development Specialist * Chad Sterken - Safety Manager * Safety Technicians from each Plant Site (Riordan 2, 2013). This list should include the people directly affected by the proposed system changes. No matter what method of information gathering is used during the analysis phase, all cautions need to be taken to ensure that all areas concerned have equal input into the uses of the current system and the necessary requirements for the new system. Project Scope and Feasibility The Human Resources Department uses software originally designed for the Finance & Accounting (F & A)...

Words: 932 - Pages: 4

Premium Essay

Gap the Up and Coming

...social initiaves - enhanced forms of corporate philanthropy directly related to the company's competencies. Insider trading- uses private company infomation to further insers own fortuenes or those of their family and friends. Unified system- this happes after managers have decided a course of action now they need to organize the fimr to accomplish their goals. Middle management- this includes gernal managers, division managers, and branch and plant managers. B. Discuss the organizationl structure of the business relative to these five functinal areas: Marketing - The different forms of marketig, sales, and adverting for Gap are television, radio, credit card discounts, mail, and email. Gap spends a certain amount of money on advertising everymonth, and if they do not feel as though they are getting the response they hoped for they will pull the plug on that idea and go the next. Gap has commercials on television and radio, they are actully pretty catchy. Males and females from birth to 65 is their target market(gapincccom). I think they do a good job. Human resources - Gaps human resources department is functional it is head up by Eva Sage-Gavin her and her team personally hire all the regional managers and supply all the information for...

Words: 1651 - Pages: 7

Premium Essay

Marketing Research

...research to identify alternative choices and to support the process hy which the hest alternative is ehosen. In this series of foldout tables, I present a guide for managers who want to use market research to develop and support market-based decisions. The tables form a decision-support framework that uses research tools to help companies develop a balanced approach to the "technology push/demand pull" product development process. The structural components of the framework are accountable management, the company's decision process, marketplace reality, and the market research function. The five sections of the gateiold identify the steps researchers must take: (1) Assess market information needs; (2) Measure the marketplace; (3) Store, retrieve, and display the data; (4) Descrihe and analyze HARVARD BUSINESS REVTEW laiuuirv-Febiiiatv 1 ^ market information; (5) Evaluate the research and assess its usefulness. The reference material here is encyclopedic-the product of a great deal of thought by colleagues in business, market research and advertising agencies, academia, and elsewhere. As such, the tables are invaluable for all stakeholders witliin the company who need to develop a sensitivity to the voiee of the market. These stakeholders include people in product development, engineering, manufacturing, finance, human...

Words: 4013 - Pages: 17

Premium Essay

Four Seasons Goes to Paris

...' Academy ol Management Executive, 2002, Vol. 16, No. 4 Four Seasons goes to Paris floger HalloweU, David Bowen, and Carin-Isabel Knoop Europe is different from North America, and Paris is very different. I did not say difficult. I said diffeient. —A senior Four Seasons manager Executive Summary Four Seasons Hotels and Resorts opened its first French property in 1999. This article presents that opening as a case study to illustrate a perspective on how a company with a strong and highly successful organizational culture might approach a new national culture when that cuhure is both distinct and intense, as is the case in France. Managers can henefit from the case by understanding this approach to organizational and national culture, which the authors believe represents a useful framework for global management. The article begins with a discussion of the linkage between corporate cuifure and competitive advantage for service organizafions. It then describes the corporate support structure and the philosophy that Four Seasons developed over two decades to support its international expansion and to manage the type of challenges its French property posed. Finally, it describes how the firm went about transforming that property into one of its crown jewels. The Linkage Between Service Culture and Competitive Advantage The enduring success of service organizations such as Southwest Airlines, The Walt Disney Company, Wal-Mart, and USAA (among others) is frequently ...

Words: 13427 - Pages: 54

Premium Essay

All Works

...CHAPTER ONE INTRODUCTION 1.0 PREAMBLE One constant variable that permeates through man’s entire life is uncertainty. Uncertainty and man are inseparable. As man builds organizations and institutions that he utilizes to make his existence easier, uncertainties also creep into these organizations and institutions. All human transactions carry these uncertainty traits. These transactions are many and varied but arise essentially, as stated above, as inherently of man and the institution created by him. One of the ways man has tried to manage and control the damaging effects of uncertainty in his institution especially as it relates to his financial transaction in use of budget. These are many varied definitions of budget, according to Obazele (2000:127)in his book titled Accounting for public sector Activities in Nigeria. Budget is defined as a “statement whish express future plans in financial terms.” It is also defined by Okoye (1979: 301). In his book titled Cost Accounting Management Operational Application, as “plans prepared and approved before The of use. A budget is defined in the institution of cost and management Accounting, 1966 edited of Terminology as a financial and/or quantitative statement prepared and approved prior to a defined period of the policy to be pursued during that period for the purpose of attaining a given objective”. Going by the above definitions of budget by previous authors, it could be deduced that a budget as an element of control in it...

Words: 16998 - Pages: 68

Free Essay

Impact of Value for Money Audit and Publice Section

...CHAPTER ONE INTRODUCTION 1.0 Background OF THE STUDY Financial accountability is not complete without audit, which remains one of the most neglected and mis-understood areas of financial management. This could be traced to the crudeness of accounting methods used in the early stages of civilization where individuals check account by themselves. It is for this reason that the practice of audit has been accorded its rightful place with a view to imposing some system of check upon person whose business involves to record the receipt and disbursement of money on behalf of others. However, the need for audit mostly government account is precipitated by a number of issues. One of such issue is the size of the public sector, the financing of which have become very burdensome, especially with the fall in public revenue resulting from the change of circumstances of the international oil market. According to Asechemic (1999), the pervasive presence of public sector is due, in part, to the historical national condition of a weak private modern sector in the past colonial Nigerian economy. The economy activity of government arising from this historic condition has made the Nigerian public sector very large. A need to reduce the size of the public expenditure has become clear to many observers. The privatization and commercialization project in the structural adjustment programmers (SAP) is an office response to the call for a reduction of public sector spending. ...

Words: 14175 - Pages: 57

Free Essay

Master of Business Administration

...been contributing the existence and success of the program. The first ones I have to give my special respect and thanks are Professor DawKyiKyiSwe, the program director and my teachers from Economic Universities who come and teach us even in their weekends. After that, I would like to thank Mr. Richard Mayhaw, General Manager of Mandalay Hill Resort, for allowing me to complete my MBA internship program. Also, I have to pay my special thanks to U Bo, Human Resource Manager, for reporting my application for internship to GM and scheduling for my internship. Finally, I have to thank managers form Front Office, Food and Beverage, House Keeping and Sale departments, as they allowed me to learn and observe how they are performing hospitality management and how to run an international hotel in a perfect situation. Company History Mandalay Hill Resort Hotel forms part of the operations of LP Holding Co.,Ltd in Myanmar. The hotel was opened on 26th November 1995. During early years of the hotel, the operation was under the control of Accor Hotel Management. After 2000, the owner, himself has managed the hotel with the assistance of Australian general manager. The hotel lies at the foot of Mandalay Hill and facing the Royal Palace and beautiful moat. It is a 10 storied RC building constructed in a spacious compound. As it is surrounded by many Buddhist monasteries, the environment is peaceful that makes the hotel as an ideal place to stay. As guests wander through the grounds...

Words: 2127 - Pages: 9

Free Essay

Oscar Mayer

...SMM ­­ Group 2 – Alex, Jaya, Rachel, Richard  Oscar Myer Case  Background  Oscar Mayer is a leading manufacturer of processed meats in the American market because of its brand  equity, successful history and effective product diversification within the meat market.  It is focused on  placing quality first and price second and its major goal is to boost convenience products in the  processed meat market. Currently, the OM sales are declining, but the losses have been offset by a  recent acquisition of Louis Rich (LR) a #1 turkey based line (#1), which is a cheaper and less fat meat   more in tune with customer demand.  The SWOT analysis given below presents a snapshot of the company’s internal and external background.  Weaknesses  Strengths   High prices of OM products compared to   Powerful brand reputation with retailers  competitors  and consumers   Focused on product and competition, and   Technology skills in R&D  not on “customer satisfaction”   Unmatched sales force   No products on chicken market   History as “get it done” organization   Batting average for new products: 1 in 10   Strong business and distribution system     Strong acquisition of a #1 turkey based line  – cheaper and less fat    “total division scorecard” – favorable    Threats  Opportunities   The processed meat undergoing   The need for products offering greater  fundamental changes that will affect  convenience  growth in 3‐5 years.   The growing emphasis on nutrition   Red meat products (bologna...

Words: 945 - Pages: 4

Premium Essay

Primary Dealer

...INTERNATIONAL MONETARY FUND AND THE WORLD BANK Managing Public Debt: Formulating Strategies and Strengthening Institutional Capacity Prepared by the Staff of the IMF and World Bank Approved by Christopher Towe, Danny Leipziger, and Kenneth Lay March 3, 2009 Contents Page Acronyms...................................................................................................................................3 I. Introduction ............................................................................................................................5 II. The Financial Crisis: Implications for Debt Managers .........................................................6 III. Work Program Linkages ......................................................................................................7 IV. Medium-Term Debt Management Strategy.........................................................................8 A. Developing the Framework.......................................................................................8 B. The Guidance Note..................................................................................................10 C. The Cost-Risk Analytic Tool ..................................................................................11 D. Preliminary Results from Early Application of the Framework .............................13 V. Debt Management Performance Assessment (DeMPA).....................................................15 A. The DeMPA Framework........

Words: 15042 - Pages: 61