MANAGING FINANCIAL RESOURCES TABLE OF CONTENTS TABLE OF CONTENTS EXECUTIVE SUMMARY

MANAGING FINANCIAL
RESOURCES

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................1
INTRODUCTION...........................................................................................................................2
Question One...................................................................................................................................2
Explaining three business structures, differences and legal needs.........................................2
Suggesting Victoria Babies about the best structure..............................................................4
Question Two...................................................................................................................................4
Explaining management as well as financial accounting along with their differences..........4
Question Three.................................................................................................................................6
Explaining financial statements illustrations of them............................................................6
Question Four...................................................................................................................................8
Identifying five potential stakeholders and financial information used by them...................8
ANALYSIS ...................................................................................................................................10
RECOMMENDATIONS...............................................................................................................10
REFERENCES..............................................................................................................................11

EXECUTIVE SUMMARY
Financials are key asset for every enterprise which work as a blood for it while
establishing and operating in particular market. The current assignment is based on Victoria
Babies company which is going to do partnership in order to expand the business. Further, it
shows about three business structures which are like general, limited liability and private limited
liability partnership. Apart from this, financial and management accounting, different financial
statements as well as potential stakeholders of cited company are analysed. It can be said from
the analysis that, Victoria Babies firm should go for limited liability partnership in order to
expand business at another place.
1

INTRODUCTION
Financial resources are one kind of backbone of each enterprise because it helps to exist
as well as operate in the particular industry. Along with this, management of such resources is
also highly needed in proper way due to supporting to utilise financial resources and raise
business performance. The present case is on the basis of Victoria Babies which is going to do
partnership in order to expand the business. Under this, it has three structures among them one is
suggested to this firm in the present study. In second part of the current project, financial as well
as management accounting these two terms are explained along with making differences. Third
part of the assignment consists with financial statements which are described with the
illustrations. Further, explanation about the potential stakeholders of Victoria Babies is given in
the last part. At the end, findings are presented and suggestions are given to the selected firm for
choosing a particular business structure.
Question One
Explaining three business structures, differences and legal needs
Base of explanation General or ordinary
partnership
Limited liability
partnership
Private limited
liability partnership
Business structures The business in which
two or more partners
clubbed and started
company in the industry.
Apart from this, if the
firm suffered from loss
or gains then shared
among all the partners. It
can be included under
the individuals or trusts
or corporations (General
Partnership, 2017).
A business type in
which all the partners
of an entity are
depended on the
jurisdictions where it
is mandatory to follow
all the legal laws and
regulations is known
as limited liability
partnership. Further, it
any kind of problem
incurs due to one
partner then another is
not liable for this
According to this, it is
necessary to use
personal liability of
each and every partner
whether he or she
associated with the
firm directly or
indirectly. Apart from
this, it is not
mandatory that profits
and losses are shared
with all the partners.
Therefore, sometimes
one can be in the
2