...PROJECT REPORT (Submitted for the degree of B.com Honours in Accounting & Finance under CalcuttaUniversity) ON WORKING CAPITAL MANAGEMENT SUBMITTED BY Name of the Candidate: Registration No. : Roll No. : 0498 Name of the College: Bhawanipur Education Society College Name of University: Calcutta University Submitted on: February 2013 SUPERVISED BY Name of the Supervisor: Name of the College: Annexure- I Supervisor's Certificate This is to certify that Ms. a student of B.Com. Honours in Accounting & Finance ofBHAWANIPUR EDUCATION SOCIETY COLLEGE under the University of Calcutta has worked under mysupervision and guidance for her Project Work and prepared a Project Report with the title “WORKING CAPITAL MANAGEMENT ” which she is submitting, is her genuine and original work to the best of my knowledge. Place: Kolkata Prof. Date: February, 2013 . Annexure- II Student's Declaration I hereby declare that the Project Work with the title “WORKING CAPITAL MANAGEMENT”submitted by me for the partial fulfilment of the degree of B.Com. Honours in Accounting & Finance under the University of Calcutta is my original work and has not been submitted earlier to any other University /Institution for the fulfilment of the requirement for any course of study. I also declare that no chapter of this...
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...------------------------------------------------- ITC LIMITED: FINANCIAL ANALYSIS Financial Accounting A MANAGERIAL PRESPECTIVE Submitted To: Ram Kesh Gupta Christ University Institute of Management, Bangalore By: Lavanya Gurram (1120754) Anil Kumar Rauniyar (1120743) Lester Mascarenhas (1120702) Annette Stanley (1120744) Anirudddha K.N. (1120737) Ravi Kwatra (1120728) Table of Contents 1. INTRODUCTION 2. KEY FINANCIAL TRENDS 3. PERFORMANCE EVALUATION USING RATIOS 4. PERFORMANCE EVALUATION USING COMMON-SIZE STATEMENTS 5. ANALYSIS OF THE CASH FLOW STATEMENT 6. QUALITY OF EARNINGS 7. ANALYSIS OF THE DIRECTOR’S REPORT 8. STOCK MARKET ASSESSMENT 9. OVERALL EVALUATION 10. REFERENCES Introduction Meaning of financial Analysis The process of evaluating businesses, projects, budgets and other finance related entities to determine their suitability for investment is known as financial analysis. Typically, financial analysis is used to analyze whether an entity is stable, solvent, liquid, or profitable enough to be invested in. When looking at a specific company, the financial analyst will often focus on the income statement, balance sheet, and cash flow statement. In addition, one key area of financial analysis involves extrapolating the company's past performance into an estimate of the company's future performance. Uses of financial Analysis These statements are used by management, labor, investors, creditors and government regulatory...
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...1. INTRODUCTION TO THE STUDY 1.1 Financial statement: A financial statement is an organized collection of data according to logical and consistent accounting procedures. Its purpose is to convey an understanding of some financial aspects of a business firm. It may show a position at a moment of time as in the case of a balance sheet, or may reveal a series of activities over a given period of time, as in the case of an income statement. Thus, the term financial statement generally refers to the basis statements; i) The income statement ii) The balance sheet iii) A statement of retained earnings iv) A statement of charge in financial position in addition to the above two statement. 1.2 Financial statement analysis: It is the process of identifying the financial strength and weakness of a firm from the available accounting data and financial statement. The analysis is done by properly establishing the relationship between the items of balance sheet and profit and loss account the first task of financial analyst is to determine the information relevant to the decision under consideration from the total information contained in the financial statement. The second step is to arrange information in a way to highlight significant relationship. The final step is interpretation and drawing of inferences and conclusion. Thus financial analysis is the process of selection relating and evaluation of the accounting data/information. 1.3 OBJECTIVE...
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...Fast-moving consumer goods (FMCG) or consumer packaged goods (CPG) are products that are sold quickly and at relatively low cost. The term FMCGs refers to those retail goods that are generally replaced or fully used up over a short period of days, weeks, or months, and within one year. This contrasts with durable goods or major appliances such as kitchen appliances, which are generally replaced over a period of several years. FMCG have a short shelf life, either as a result of high consumer demand or because the product deteriorates rapidly. Some FMCGs – such as meat, fruits and vegetables, dairy products and baked goods – are highly perishable. Other goods such as alcohol, toiletries, pre-packaged foods, soft drinks and cleaning products have high turnover rates. An excellent example is a newspaper- every day's newspaper carries different content, making one useless just one day later, necessitating a new purchase every day. The following are the main characteristics of FMCGs:[1] • From the consumers' perspective: • Frequent purchase • Low involvement (little or no effort to choose the item – products with strong Brand loyalty are exceptions to this rule) • Low price • From the marketers' angle: • High volumes • Low contribution margins • Extensive distribution networks • High stock turnover Examples include non-durable goods such as soft drinks, toilees, and grocery items.[1][2] Though the absolute profit made on FMCG products is relatively small, they generally...
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...existing firms - High • 3 main players- Britannia, Parle, and ITC Ltd. (PriyaGold and Bakeman – regional) • Britannia & Parle hold almost equal market share, ITC ltd holds a lower market share • Hence, they keep a close watch on the changing strategies of each other Bargaining power of suppliers - High Wheat is the main ingredient required for baking biscuits. During inflation they purchase wheat at the price quoted by the farmers as wheat does not have a close substitute. Threat of Substitute Products – Medium • The substitutes of biscuits are namkeens, chips, potato wafers etc. but biscuits have become a part of people’s everyday life. • Biscuits are a low priced commodity, hence a small increase in price would be acceptable in urban areas but may cause a shift to substitutes in rural areas Bargaining power of buyers - High Consumers have option of shifting brands according to their liking of price, quality and taste. Hence not much flexibility to biscuit manufacturers to increase price or compromise of quality. Also, consumers are going for bulk purchases at cheaper rates from bakery stores. 2. Company Analysis • Company’s sales rises from Rs. 31.1 Million to Rs. 34 Million • Profit Before Tax reduces from Rs. 2.3 Million to Rs. 1.2 Million • Profit available for appropriation reduced from Rs. 2.4 Million to Rs. 2.2 Million • Sources of fund included shareholder’s fund, loan fund and deferred tax liability reduces from Rs. 8,596...
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... reference materials, practice exams, textbook help and tutor support. Why (a) do you suppose Union Planters purchases investments, rather than simply making loans? Why does it purchase investments that vary in nature both in terms of their maturities and in type (debt versus stock)? 1. They may have excess funds that they havent loaned out yet and instead of having the money just sit there the bank manager may decide that it could earn more revenue by choosing to invest. 2. Depending on the situation the bank manager may also feel that they can make more money by investing the excess funds rather than lending the money out. For example right now interest rates are at an all-time low and they may feel like the return on the interest is not enough compared to investing. 3. The bank manager may feel that these investments will mature and be worth more in the future so they may choose to hold long term to create more revenue. (b) How must Union Planters account for its investments in each of the two categories? 1. Trading securities Balance sheet at fair market value a. Gain/Loss reported as part of income 2. Available-for-Sale Balance sheet at fair market value a. Gain/Loss Comprehensive income/ separate from Stockholders equity until realized 3. Held to-Maturity reported at amortized cost Planters had none (c) In what ways does classifying into investments two different categories assist investors in evaluating the profitability of a company like Union Planters? The categories...
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...In September 2007, the Foreign Investment Promotion Board of India rejected DANONE’s claims that it did not need a non-compete waiver from the Wadias to enter into business in India alone.In June 2006, Wadia claimed DANONE had used the Tiger brand to launch biscuits in Bangalore. After a prolonged legal battle, DANONE agreed to sell its 25.48% stake in Britannia to Leila Lands, which is a Wadia group entity based in Mauritius, and quit this line of business. The deal was valued at $175–200 million. With this buy-out, Wadia holds a majority stake of 50.96%. BUSINESS OF BRITANNIA - Dairy products - Dairy products contribute close to 10 per cent to Britannia's revenue.[18] Britannia trades and markets dairy products, and its dairy portfolio grew to 47% in 2000-01 and by 30% in 2001-02. Britannia holds an equity stake in Dynamix Dairy and outsources the bulk of its dairy products from its associate. Its main competitors are Nestle India, the National Dairy Development Board (NDDB), and Amul (GCMMF). Joint venture with New Zealand Dairy On 27 October 2001, Britannia announced a joint venture with Fonterra Co-operative Group of New Zealand, an integrated dairy company from procurement of milk to making value-added products such as cheese and buttermilk. Britannia planned to source most of the products from New Zealand, which they would market in India.The joint venture will allow technology transfer to Britannia and work more efficiently. Britannia and New Zealand Dairy...
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...FINANCIAL ANALYSIS OF FMCG INDUSTRY IN INDIA IIM – LUCKNOW, IPMX (2015-16) MANAC PROJECT (TERM I) – GROUP 11 FOR SUBMISSION TO PROF. PRAKASH SINGH Compiled By: 1. Prateek Dashora (IPMX08035) 2. Shreyas Bakshi (IPMX08047) 3. Siddhartha Chatterjee (IPMX08049) 4. Supriyo Chakraborty (IPMX08051) 5. Susmit Majumdar (IPMX08054) TABLE OF CONTENTS Table of Contents Choice of Industry: FMCG............................................................................................................................................................................................ 2 Macro Factors Affecting the Industry ................................................................................................................................................................. 4 Industry Characteristics.............................................................................................................................................................................................. 6 Major Accounting Policies of the Industry ................................................................................................................................................... 10 Impact of IFRS ................................................................................................................................................................................................................. 14 Major Deviations in Acccounting Policy of Major Players of the Industry...
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...Indian Institute of Management, Lucknow ITC Ltd: A Strategic Analysis Submitted to: Prof. Arun K Jain In partial fulfillment of the requirements of the course Strategic Management I Submitted by Saurav Goswami (ABM08012) Anuj Saraf (PGP27204) Kaushal Mathur (PGP27219) Sudhanshu Chawla (PGP27255) Section “D” Group 1 Letter of Transmission TO: Prof. Arun K. Jain, Strategy Group Indian Institute of Management, Lucknow FROM: Group 1, Section D Strategic Management Class DATE: March 23, 2012 SUBJECT: Strategic Analysis of ITC Ltd. Dear Sir, You had entrusted us with a project to analyze the strategy of any company of our choice using the frameworks given in the prescribed textbook. We chose ITC Ltd. for this project as it is one of India’s oldest and most diversified companies. This report begins with analyzing the strategic direction of the company which emanates from its vision & mission statements. It then looks at the decisions that the company has taken to achieve its vision by analyzing the environment it operates, the value chain and the core competencies that it has developed over the years and the key factors instrumental in its success. We end by commenting on its future prospects based on our analysis. We are grateful to you for providing us this opportunity to learn the strategic issues in contemporary businesses and giving us the necessary guidance in completing the project. We would also like to thank the entire...
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...GENERAL OVERVIEW - BULGARIA Current Status of Biomass Energy There exists a large potential to utilize biomass as an energy source in Bulgaria. Bulgaria has a total land area of approximately 110,000 km2, of which some 6,200,000 ha, or approximately 60 percent of the overall land area, consists of arable and agriculture lands, and 3,903,000 ha, or approximately 30 percent, is forest cover. While information regarding the use and potential of biomass has been limited, there have been recent developments through pilot projects and preliminary evaluations that do begin to highlight Bulgaria’s full potential. Next to the country’s hydro resources, biomass accounts for a sizable share of Bulgaria’s final energy consumption, approximately 3.7 percent or 409,000 toe of the calculated 10,918,000 toe total consumption (Sofia Energy Center data report). Due to the lack of reliable nationwide assessments and data, it is estimated that in practice this number is much larger. The majority of the biomass energy consumption exists mainly in the rural areas, where fuelwood, followed by the residential consumption of wood briquettes produced from forestry wastes and sawmill byproducts amount to approximately 2 million m3 per year. In addition, wastes generated from agricultural and farming activities are produced in large quantities and exploitation of these wastes can prove to be significant source for energy generation. As the land of Bulgaria is rich and fertile, farming activities...
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...ICICI Bank | | Type | Public | Traded as | BSE: 532174 NSE: ICICIBANK NYSE: IBN BSE SENSEX Constituent | Industry | Banking, Financial services | Founded | 1954 | Headquarters | Mumbai, Maharashtra, India | Area served | Worldwide | Key people | Ms.Chanda Kochhar (MD & CEO) | Products | Credit cards, Consumer banking, corporate banking,finance and insurance,investment banking, mortgage loans, private banking, wealth management | Revenue | US$ 13.52 billion (2012)[1] | Operating income | US$ 2.117 billion (2012)[1] | Profit | US$ 1.597 billion (2012)[1] | Total assets | US$ 98.99 billion (2012)[1] | Total equity | US$ 12.62 billion (2012)[1] | Employees | 81,254 (2012)[1] | Website | www.icicibank.com | ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- Corporate Social Responsibility programmes for Elementary Education[edit] Read to Lead Phase I[edit] Read to Lead is an initiative of ICICI Bank to facilitate access to elementary education for underprivileged children in the age group of 3–14 years including girls and tribal children from the remote rural areas. The Read to Lead initiative supports partner NGOs to design and implement programmes that mobilise parent and community involvement in education, strengthen schools and enable children to enter and complete formal elementary...
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...Role & Functions of Exim Bank Trivandrum, July 17, 2009 Roshanara Sardar Manager Exim Bank, Chennai 2 Exim Bank of India SET UP BY AN ACT OF PARLIAMENT IN SEPTEMBER 1981 WHOLLY OWNED BY GOVERNMENT OF INDIA COMMENCED OPERATIONS IN MARCH 1982 APEX FINANCIAL INSTITUTION OBJECTIVES: “… for providing financial assistance to exporters and importers, and for functioning as the principal financial institution for coordinating the working of institutions engaged in financing export and import of goods and services with a view to promoting the country’s international trade…” “… shall act on business principles with due regard to public interest” (Export-Import Bank of India Act, 1981) 3 Evolving Vision Product Centric Approach Export Credits 1982-85 Export Capability Creation 1986-94 “To develop commercially viable relationships with a target set of externally oriented companies by offering them a comprehensive range of products and services, aimed at enhancing their internationalisation efforts” Comprehensive Range of Customer Centric Products And Services Approach – All Stages of the Export Business Cycle – Exim Bank TODAY Leadership and Expertise in India’s Export Finance 4 Organisation BOARD OF DIRECTORS (16)* Chairman and Managing Director 5 Directors: Government of India 3 Directors: Scheduled Banks 4 Directors : Professionals/Experts 1 Director nominated by RBI 1 Director nominated by IDBI 1 Director nominated by...
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...upward direction and sell decision if trend movement shows downward direction. In other words, the technical analysis does not involve in determination of any intrinsic value of the stocks instead it studies the past price movements, volume and other chart patterns to happen in the future performance of the shares. Historical share prices, volume of trade in the market, Charts, graphs, are the important inputs, which is required to perform technical analysis. Charting is a key activity in technical analysis and in fact there is no technical analysis without charts. Thus technical analysis mainly concentrates on the study of historical price movements and on its volume to identity future trend movements and based on this trend movements investment...
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...EMERGING BUSINESS MODELS FROM EMERGING ECONOMIES 8/11/2013 Dr. S.Balasubrahmanyam, IIM Kozhikode 1 Dr. S.Balasubrahmanyam Indian Institute of Management Kozhikode Strategic Management of Innovation (27th July, 2013) PROMISING BUSINESS MODELS AT BOP 8/11/2013 Profitable or at least self-sustaining without requiring continuous subsidy Scalable and thus able to reach and improve the lives of significant numbers of poor people Dr. S.Balasubrahmanyam, IIM Kozhikode 2 BUSINESS MODELS IN LOW-END MARKETS 8/11/2013 No-frills products Small-size products (e.g., micro-loans) Group products (joint liability group-JLG) Pre-assured demand (JLGs guarantee demand) Dr. S.Balasubrahmanyam, IIM Kozhikode Paraskilling 3 8/11/2013 Dr. S.Balasubrahmanyam, IIM Kozhikode CORE MODEL ELEMENTS PAY-PER-USE MODEL-1: 4 COMMUNITY WATER FILTRATION MODEL: PERCEPTIONS OF USERS & NON-USERS 8/11/2013 Dr. S.Balasubrahmanyam, IIM Kozhikode 5 TWO-THIRDS OF BYRRAJU PLANTS ARE PROFITABLE WITHOUT SIGNIFICANT MARKETING EFFORT 8/11/2013 Dr. S.Balasubrahmanyam, IIM Kozhikode 6 OTHER INDIAN EXAMPLES OF MODEL-1 8/11/2013 Water: Naandi Foundation Water Health International Poorvi Enterprises Piramal Foundation Dr. S.Balasubrahmanyam, IIM Kozhikode Energy: Biogas Bank S3IDF Lighting: ICT: Drishtee N-Logue Comat 7 NO FRILLS SERVICE MODEL-2: CORE MODEL ELEMENTS ...
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...1949 can be broadly classified into two major categories, non-scheduled banks and scheduled banks. Scheduled banks comprise commercial banks and the co-operative banks. In terms of ownership, commercial banks can be further grouped into nationalized banks, the State Bank of India and its group banks, regional rural banks and private sector banks (the old/ new domestic and foreign). These banks have over 67,000 branches spread across the country. The first phase of financial reforms resulted in the nationalization of 14 major banks in 1969 and resulted in a shift from Class banking to Mass banking. This in turn resulted in a significant growth in the geographical coverage of banks. Every bank had to earmark a minimum percentage of their loan portfolio to sectors identified as “priority sectors”. The manufacturing sector also grew during the 1970s in protected environs and the banking sector was a critical source. The next wave of reforms saw the nationalization of 6 more commercial banks in 1980. Since then the number of scheduled commercial banks increased four-fold and the number of bank branches increased eight-fold. After the second phase of financial sector reforms and liberalization of the sector in the early nineties, the Public Sector Banks (PSB) s found it extremely difficult to compete with the new private sector banks and the foreign banks. The new private sector banks first made their appearance after the guidelines permitting them were issued in January 1993....
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