Financial Management of Osborne Restaurant

This solved assignment delves into the financial management of Osborne restaurant. It examines budgetary planning, analyzes unit costs and pricing decisions, evaluates payback periods for potential investments, and utilizes techniques like ARR and NPV to assess project viability. Additionally, it includes a ratio analysis of Sainsbury PLC for comparative purposes.

Managing financial
resources and
decisions
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Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Different financial sources.....................................................................................................3
1.2 Implications of financial sources...........................................................................................4
1.3 Selection of best suitable financial sources...........................................................................5
2.1 Cost analysis for each financial source..................................................................................5
2.2 Significance of financial planning.........................................................................................6
2.3 Information needs for internal and external decision makers................................................7
2.4 Impact of finance on financial statements and importance of financial sources to influence
statements.....................................................................................................................................8
3.1 Budgeting and forecasting for next six months' business operations...................................8
3.2 Unit cost calculation for establishing Osborne restaurant and pricing decisions................10
3.3 Investment appraisal techniques for choosing best project..................................................10
TASK 2..........................................................................................................................................12
4.1 Different financial statements and their objectives..............................................................12
4.2 Comparing financial statement to be prepared for different types of businesses................13
4.3 Ratio analysis.......................................................................................................................13
CONCLUSION..............................................................................................................................15
REFERENCE.................................................................................................................................16
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Illustration Index
Illustration 1: Budget for Osborne restaurant................................................................................12
Illustration 2: Unit cost and pricing decisions...............................................................................13
Illustration 3: Pay back period for further investment...................................................................14
Illustration 4: ARR as investment appraisal technique..................................................................14
Illustration 5: NPV for selecting best project................................................................................15
Illustration 6: Ratio analysis of Sainsbury.....................................................................................17
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INTRODUCTION
Managing financial resources and decision is key component for operating further
business activities. It is effective for analyzing actual financial position on the basis of which
plans are prepared for organization's effectiveness of organization and improving efficiencies at
high level. The present report is to understand different aspects of financial resources and
decisions for establishing Osborne Terrace Restaurant. It is contract finder opportunity for
accomplishing task related to operating small business entity at large scale by 2020. In this
regard, different financial sources including critical evaluation on them can be described.
However, importance of financial planning for decision makers and finance significance to
prepare statement is to be expressed through this assignment. Including this, budgeting and
forecasting plan entity's commencement can be understood for decision making to expand
business firm. Along with this, investment appraisal techniques to select appropriate project is to
be introduced that leads to following on decided plans. Thus, students are able to understand
importance of managing financial resources and decision for commencement of organization and
different tools for business operations through this report.
TASK 1
1.1 Different financial sources
There are different kinds of financial sources to grab opportunity to establish Osborne
restaurant. Therefore, entrepreneur can use various sources to establish Osborne. Some of them
are expressed as under
 Internal sources
 External sources
Internal sources
Fund can be allocate from following sources internally:
 Personal sources: The owner put its own capital into the business. This is the cheapest
source of finance which is readily available. It includes savings, personal cash balance,
borrowing from friends and family (Bakand, Hayes and Dechsakulthorn, 2012). It
includes getting financed from family and friends and involving them in day to day
activities of the business with a percentage of profit sharing that the business earns.
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However, for affirmative results, it requires their agreement on the decision. Some may
not be ready to put their money and get involved in extra business.
External financial sources:
At external level, finance for organization's establishment can be gained through
following sources:
 Bank loan: Loans are provided by bank at a specific rate of interest and fir the specific
time frame. Bank requires a guarantor who guarantees that you will return the principal
amount with the specified interest in specified time period. However, much flexibility is
not provided to borrower in terms of interest and time duration (Cheng, Ioannou and
Serafeim, 2014).
 Share capital: Share capital consist of all funds raised by companies in exchange of
either common or shared preferred stock. The amount of share capital or equity finance
that company can change over a period of time as per market requirement and company
objectives.
 Venture capital: Professional investors manage this kind of fund. A specific kind of
investment is made by them and it is managed by professional investors (Pasquariello,
2014). If the investor like your business idea he will invest in your business with the fact
that they may demand a certain percentage of profit or decision making is some areas of
business depending up on the contract.
 Lease: It is a contractual agreement between the two parties where one party gives right
to the other party to use the asset in return to some rental payment. Osborne can take its
fixed assets on lease (Midrigan and Xu, 2014). Since, fixed asset demands heavy
investment, it will reduce the burden from the company
 Bank Overdrafts: It is a short term source of finance. It allows the business to make
payments from their current bank accounts even if the necessary balance is not available
in the bank account. There is a certain limit specified by every bank to while availing this
facility. Bank charge interest on the overdrawn amount (Battiston and et.al., 2016).
1.2 Implications of financial sources
As per critical evaluation on financial sources, some implications are obtained for getting
sources that can be expressed as follows:-
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Sources Financial
implications
Legal
implications
Bankruptcy Dilution of
control
Bank Loan Huge financial
implication as
bank possess the
property against
loan.
Subject to assets
seize in case of
defaults.
Total risk of
bankruptcy if
payment of loan
is failed for
business projects
as seized assets
will be auctioned
to recover bank
loan amount
No dilution of
control
share capital Percentage of
profit would be
dedicated to
investor in share
capital according
to investment in
share which will
be return in
contract and they
will start
receiving it as
they achieve
break even
In case of share
capital legal
agreement is
required and
signed by both
the parties and.
Each stack holder
has a right to cast
the vote in boar
election to
manage the
meeting.
In case of
bankruptcy
payment to
outsiders first will
be made and
suppliers and then
internal
settlement is
made.
There will be
case of dilution of
control in share
capital
Lease In assets lease
GST is charged
on monthly lease
rental and on the
residual value at
Lease agreement
documents is
required.
In this bankruptcy
suppliers must
file case for first
payment.
Dilution of
control over
company is not
diluted but pull
out of assets in
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the end of the
lease . The
company can
claim the lease
rent as tax
deduction.
case of default
that may hamper
operation.
Bank overdraft Company is
obliged to pay all
charges, penalties
and
miscellaneous
charges in
overdraft if not
paid on time.
Need to fill up a
form in which
promise to pay
repayment with
charges
In case of
bankruptcy first
need to be paid
from the residual
assets of the
company.
No dilution of
control over
company.
1.3 Selection of best suitable financial sources
Bank loan and share capital are best source of financial source. So in selecting the best
source following points need to be considered Repayment terms, Interest and Fee Structure,
Additional requirement. So in repayment term company need to consider payment term should
not be too large and not too small (Segal, Shaliastovich and Yaron, 2015). Company also need
to consider whether interest rates are high or low so that extra cost can be prevented in running
business because excess interest rate can down the company profit. If company need additional
requirement then they should sell their assets.
2.1 Cost analysis for each financial source
Entrepreneur analyses cost to be incurred for getting sources of fund from each source
critically. Therefore, positive and negative both aspects can be identified to select best option. In
this regard, interest incurred on loaning and different factors are to recognized that affects on
further business operation also helpful for forecasting regarding establishment of Osborne
restaurant according to government contract that is interrelated with productivity and
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profitability of entity (Bartram, Brown and Waller, 2016). He sets target to arrange 20,000 AUD
for establishment. However, following tools are recognized for financial sources can be
understood briefly as:- Personal saving:- Entrepreneur can use his own savings for establishment of restaurant
as well there will be no interest or additional charge to be refunded for financial source.
Therefore, it will be easier to getting source through using personal saving or taking
financial aid from his family and friends (Segal, Shaliastovich and Yaron, 2015). Thus, it
will be reliable to establish new entity for effective food services. Taking loan from bank:- As set financial target is quite high so bank can help effectively
to allocate this fund. In this regard, high level of finance can be allocated from bank for
which institution charges interest on loan. Hence, it is needed to analyzing interest rates
and forecasting its impact on financial position of restaurant. Thereby, adequate fund can
be allocated from this source to grab opportunity of contract to establish new entity
(Pasquariello, 2014).
 Share capital:- For commencement of restaurant, different techniques are used to attract
people to increase share capital. However, calling up shareholders for effective shares can
be a great source for finance to establishment. It is considers as external source by which
adequate fund can be allocated for restaurant establishment (Subrahmanyam and Titman,
2013). In this regard, it is needed to be focused on agreement for providing dividend as
well all terms and conditions regarding equity shares and different sources.
2.2 Significance of financial planning
Financial planning means planning your finances. Finances are planned in order to get
maximum benefit from the available resources. A proper plan of action is prepared. Based in the
current financial condition a future statement is prepared discussing about the incomes and
expenses about the business. An estimation of future cash requirement is prepared to find the
ways of how the cash can be generated in future.
It is important for Osborne to do financial planning. Following are the reasons below:
 To ensure that adequate funds are available with firm. It leads to expansion and growth of
a business.
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 To stabilize the inflow and outflow of funds. It ensures optimum utilization of available
funds and restricts over spending.
 It’s one of the objective is to frame financial policies for lending and borrowing of funds.
Osborne can keep a check on its borrowing and lending activities.
 It will help Osborne to reduce uncertainties and also, ensures its the stability and
profitability.
Financial planning can be undertaken with the help of the following elements in Osborne:
 By determining the financial objective, which is based in the company’s overall objective
of Osborne.
 By estimating the long term and short term capital requirements of organization.
 By determining the kind of securities that will be issued by Osborne.
 By determining the lending and borrowing process of entity.
It is significant to do proper financial planning for Osborne. Since, it is the factor that
decides the future of the entity (Murphy, 2016). It is important to have a good grip over the
financial planning of the restaurant.
2.3 Information needs for internal and external decision makers
Accounting entails recording, categorize and summaries of all business transaction. It is a
procedure of identification, measuring and communicating of economical collection involving
four connection form (Vejzagic and Zarafat, 2014).
Phase of preparing financial statement:-
 ledger posting
 Trail balance
Internal users or primary users of accounting information include:-
 Management:- Accounting message is of important assistance to administration for
preparation, controlling decision making cognitive process. Also accounting information
is helpful to managers to do their jobs better (Tatom, 2014). Accounting information
beneficial for every organization because employee have knowledge about the financial
condition of organization.
 Employee:-Employee use the account information to find out the financial health,
amount of sales and profit of the organization for there job security and safety.
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 Owners:- Owners use the accounting information for forecasting and analysis the
property and profitability of their organization and investment. It also vantage them to
determinant any future coursework of action of the organization.
External users or Secondary users of accounting information include :-
 Creditors:- Creditors are involved in accounting information because it modifies them to
determine the credit worthiness of the business and help the organization at critical
situation.
 Investors:- They requirement the information, become they are preoccupied with the
risk intrinsic in investing and the returns of the investment.
 Customers:- customer's have interest in the accounting message for evaluate the
financial position of a business ,especially in this accounting systems.
 Regulatory authorities:- The accounting message is required to secure that it is in
accordance with the rules and regulations and that it provides and covers all organization
aspects.
2.4 Impact of finance on financial statements and importance of financial sources to influence
statements
Business regularly put out financial subject matter such as the income statement, balance
sheet and cash flow statement. when this financial evidence released,they associate have larger
contact on the enterprise and on the investors of the company and the business ensure that
financial statement is important for running in this competitive market scenario.
 Impact on company's stock price:-financial statement affect the stock price because the
stock price depends on the organization financial statement because te company's top
management change in financial plan than share market price is up down (Nixon, 2015).
 Financing Decisions :-financial statement can also impact on how simple it is for a
business concern to get financing. Financial statement is affection on financing decision
because many organizations are work on different strategic.
 Attract new investors for organization:- company adopts low earning strategic
numbers can not destructive effect the number of capitalist willing to invest in this
organization (Andréadès, 2013).
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Finance is considered as provision of money includes investment and getting sources for
business operations. In this regard, decisions are made for investing and getting sources of fund.
It involves gained revenue and spending on expenditures to operate business activities. However,
actual financial information of organization is gained through this process. Including this, it is
helpful to attract new investors to share their fund in company's share capital for business
operations. Therefore, stock price get impacted also identifies organization's potential to refund
on shares. Finance involves different items as sales, collection of money, owners' capital,
expenses, payment of principal and so on that affects economic position of entity. In accordance
to this, gained revenue on selling items impacts income statement and monetary performance of
firm. Along with this, when company issues new shares, it is interrelated with dividend or refund
on shares affects profit and loss account of entity.
Moreover, bills, receipts and data remains interlinked with organization's financial
position to operate business activities. Besides this, leasing approach also impact on economic
position of entity that generates different ideas for further investment and getting sources of fund
in future time. Hence, finance impact on financial position of organization in different ways. It
provides ideas for further operations as well income and expenditures on production and
distribution of goods are gained through financing. It is also suitable for proper financial
management and fund allocation effectively.
3.1 Budgeting and forecasting for next six months' business operations
Budgeting is an approach for forecasting and decision making related to further business
operations. In this process system, actual performance of organization is analyzed as per which
further business operations are created (Nixon, 2015). Therefore, for commencement of Osborne
Terrace restaurant, decision maker forecasts return on investment for next 6 months. For this
purpose, he prepares budget plan as follows:-
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Interpretation:- Organization is to be established on 1st January therefore, forecasting
and decisions making is proceed for further months to get return on investment. For
establishment of Osborne Terrace restaurant, decision maker forecasts for getting return for next
6 months from January to June. It is forecast that in January, organization will provide service of
15000 as well different estimations are created for further months. Further, by analyzing return
on this, different outcomes may achieve as like in continuous starting of three months, entity
may face loss because of bad economic condition. However, market structure is not quite well so
succession of establishment is just challenging and risky. As per market analysis, it is analyzed
that from April, entity can stable its economic condition as well balance can be gained in future
time. Including this, it is forecast that for month May and June, restaurant will be achieved
proper succession that affects productivity and profitability.
3.2 Unit cost calculation for establishing Osborne restaurant and pricing decisions
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Illustration 1: Budget for Osborne restaurant

Interpretation:- Costing including fixed and variable are determined for price
determination and preparing income statement. For this data interpretation, it is forecast that
purchase price of raw material would be incurred as 200 as well administrative expenses on
freight will be spent as 10 Therefore, total cost incurred on operating and non-operating
expenditures would be measured as 210. However, it is estimated that organization will achieve
30% on production and distribution of food services that is deducted with total expenses incurred
on product services. It is measured as 63 that is quite effective to present entity's performance
and sustaining its product services. Further, net selling price for supplementing food services
may be gained as 273 that indicates effectiveness of organization. Thus, decision maker analyzes
according to net selling price estimation that in future time entity proper productivity and
profitability of entity can be gained effectively.
3.3 Investment appraisal techniques for choosing best project
Investment appraisal techniques are useful for selecting appropriate method to operate
further business activities. In this regard, different tools and techniques are applied such as
accounting rate of return (ARR), pay back period method, internal rate on return (IRR), net
present value (NPV) and so on (Footman, 2014). However, these tools are estimations for
projection as return on investment including returned profit/ accomplishing task in estimated
time period. Thus, some of the investment appraisal methods can be understood as follows:-
Pay back period method:- It is investment appraisal technique in which return on
investment time is estimated. It is forecasting process to accomplish task in estimated timing.
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Illustration 2: Unit cost and pricing decisions

Interpretation:- There are two projects estimated for investing funds in different years
however, the project which is to earn higher amount would be selected to be followed on. As per
interpretation, it is identified that for 1st investment, return on amount would be 3.22 as well for
2nd investment, refund will be 3.08 which is quite lower than 1st. Therefore, it will be appropriate
to choose 1st project to establish Osborne restaurant.
Accounting rate of return:
Interpretation:- The higher percentage return estimated amount will be selected for
choosing projection. It is analyzed that average return on investment is 35.81% for 1st project
while, for 2nd project, entity may earn 43.56% which is quite effective in comparison to 1st.
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Illustration 3: Pay back period for further investment
Illustration 4: ARR as investment appraisal technique

Thus, project first. There is higher return for investment through 2nd project so investment
appraisal technique is suitable for making decisions regarding project acceptance.
Net present value (NPV):
Interpretation:- In this process, cash inflow and outflow are analyzed through net present
value evaluation. The project which has higher net present value selection is ideal for
establishment of Osborne restaurant. Thus, through this data interpretation, return on 1st
investment is 3.38 while for 2nd project, return will be 2.53 which is lower than first. Therefore,
through this investment appraisal technique, it is analyzed that choosing 1st project will be
appropriate for investment to commence new entity.
TASK 2
4.1 Different financial statements and their objectives
Financial statements record the financial activities being performed by the entity. It helps
to find out the present financial condition of the entity (Vejzagic and Zarafat, 2014). While
drawing the financial statements Osborne will be able to conclude on its financial standing
during the previous year.
There are four types of financial statements:
 Income Statement: It is also referred as Profit and loss statement. This statement will
help to infer the net profit of Osborne. It shows the revenues and expenses being made by
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Illustration 5: NPV for selecting best project

Osborne in a particular year (Claessens and et.al., 2013). In order to know the financial
position of the entity, income statement is prepared.
 Balance Sheet: balance sheet is an overview of the entity’s financial performance for the
whole year. It becomes easy to compare the financial of two different years in order to
ascertain the overall performance (Gizaw, Kebede and Selvaraj, 2015). It ascertains that
what all assets and liabilities Osborne carries. It is only prepared at the end of financial or
calendar year.
 Statement of Cash flows: Cash statement majorly measures the liquidity of the entity. It
captures the screenshot of the cash inflows and outflows of the business. It will help
Osborne to ascertain its liquidity. Basically it is a helpful tool to determine to short term
viability of Osborne.
 Statement of changes in equity: This statement explains the changes taking place in
share capital, reserves and retained earnings of the entity. It will help Osborne to bring
out the change in equity holdings in a reporting period (Adrian, Etula and Muir, 2014).
Its features allow it to be created by sole proprietors, partnership firms and corporations.
4.2 Comparing financial statement to be prepared for different types of businesses
Sole Traders: Sole traders are the people who run their business single highhandedly,
that is there is only one owner of the entity. The business is generally small due to the capital
restrictions. The sole trader can prepare all the financial statement if he wants (Delis, Hasan and
Tsionas, 2014). There is no imposed law over them. There is no specific format which is
followed by the sole traders. It is prepared just to find out the financial conditions of the
business.
Partnership: Partnership is an entity having two or more owners and the profit is shared
among them in a ratio which is specified in their partnership agreement. As a partnership firm is
not incorporated therefore it doesn’t require reporting its financial statements. A partnership
firms prepares income statement and balance sheet just to measure its business performance and
also to find out the share of profit among its partners (Embrechts, Klüppelberg and Mikosch,
2013). The statement of partner’s capital is prepared to find out the withdrawals and investments
made by the partners.
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Osborne Terrace Restaurant: Osborne is a private organization which is made with the
association of people serving a common purpose. Proper books of accounts need to be prepared
by the company. It is necessary for the organization to prepare its financial statements and report
at the end of the year (Brealey and et.al., 2012). The financial in the end reflects the financial
history of the organization for the previous year. Osborne needs to maintain income statement,
balance sheet and cash flow statement in order to measure its financial condition at the end of the
year and take its further decision based in it.
4.3 Ratio analysis
It is financial component that presents economic position of organization (Andréadès,
2013). Decision maker analyses Sainbury organization's financial performance that leads to
create ideas for further business operations. However, following ratio analysis is to be interpreted
as:-
Interpretation:-
 Profitability ratio:- It presnts profit earning capacity of organization by which, it is
analyzed that in 2015, profit ratio is 14.34% while in 2016, this ratio is 14.18% due to
inefficient fund and unsystematic market structure. As per this analysis, it is recognized
that for taking decision regarding establishment of Osborne should be focused as current
market position of different companies.
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Illustration 6: Ratio analysis of Sainsbury

 Liquidity ratio:- It includes current and solvency ratios by which organization's
economic position is determined (Sainsbury Plc, 2016). An ideal current ratio is
considered as 2:1. Therefore, in 2015, this ratio is 2.41 and for 2016, this ratio is 2.48.
Thus, it is required for decision maker to focus on liquidity position by which further
business activities can be operated.
External ratio analysis:-
Comparison between Sainbury and Dixon ltd
Both Sainsbury and Dixon Ltd belong to retail sector of UK that provide groceries and
food items to across country. In this regard, financial position of both entities are get compared
by which ratio analysis for Dixon Ltd can be expressed as:-
2015 2016
Profitability ratio
Revenue 789 799
Gross profit 459 454
Gross profit margin 58.174904943 56.8210262829
Liquidity ratio
Current assets 249 304
Current liabilities 304 395
Current ratio 0.8190789474 0.7696202532
Profitability ratio:- Profit earning capacity of Dixon Ltd is quite better than of
Sainsbury because of systematic production and distribution of goods. However, in 2015,
Sainsbury has earned 14.34% of gross profit margin while in comparison to Dixon, its'
profitability is 58.17% which quite higher. In this way, in 2016, profitability of Sainsbury is
14.18% while it is of Dixon is 56.82% . It is recognized that in 2016 market efficiencies of retail
sector entities has slowdown that affects groceries and food products' market value. Therefore, in
recent time, it is required for analyzing financial position so that further implementation can be
gained in business operations effectively.
Liquidity ratio:- It shows liquidity and resources position of organization regarding
business operations. However, 2015, current ratio of Dixon Ltd is 0.18 while in 2016, it is 0.76
that is effective. In comparison to its liquidity position with Sainsbury, it has less position of
liquidity. An ideal liquidity ratio for any organization is considered as 2:1. Liquidity ratio of
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Sainsbury in 2015 and 2016 are 2.41 and 2.48 which better than Dixon Ltd. Therefore, as per
these positions, it can be forecast that in future time, decision maker requires to focus on all
elements of business operations and its effectiveness.
CONCLUSION
The report is concluded that managing financial resources and using tools for decision
making is essential to prepare plans regarding establishment of new entity as Osborne Terrace.
However, for taking advantage of government contract/ project to commence small scale
organization usefulness is described. Including this, different financial sources and investment
appraisal techniques are understood for projecting. In this regard, financial planning importance
and budgeting is presented for further business operations. Moreover, ratio analysis and various
tools for fund allocation are expressed for task accomplishment through this assignment.
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Online
Sainsbury Plc. 2016. [Online]. Available through: <www.sainsburyplc.co.uk.in>. [Accessed on
19th May 2017].
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