Financial Statement Analysis and Fraud Detection

This assignment focuses on financial statement analysis, specifically examining techniques used to detect fraud. It delves into the importance of understanding financial statements, common red flags indicating potential fraud, and investigative methods employed to uncover fraudulent activities. The assignment likely includes case studies or examples to illustrate these concepts.

Managing Financial
Resources and
Development
1

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Different sources of finance...................................................................................................3
1.2 Implications for financial sources..........................................................................................4
1.3 Appropriate source of finance for decision making...............................................................4
TASK 2............................................................................................................................................5
2.1 Analyzing cost of financial sources.......................................................................................5
2.2 Significance of financial planning for Clariton Antiques Ltd...............................................5
2.3 Decision making for financing..............................................................................................6
2.4 Critical evaluation on financial position of Clariton for taking decisions ............................6
TASK 3............................................................................................................................................6
3.1 Cash budget for Clariton Antiques Ltd on decision to improve financial position...............6
3.2 Pricing decisions....................................................................................................................6
3.3 Investment decision...............................................................................................................6
TASK 4............................................................................................................................................6
4.1 Financial statement analysis..................................................................................................6
4.2 Format used by Clariton Ltd to present financial statement with sole trader........................6
4.3 Ratio analysis.........................................................................................................................6
CONCLUSION................................................................................................................................6
REFERENCE...................................................................................................................................7
2

INTRODUCTION
Finance is a provision of money that includes money, liquid, securities and different
resources that is interrelated with management of business organization. However, through this
process, systematic fund allocation can be obtained that is useful for effective profitability of
firm. The present report is based on understanding financial sources and investments for Clariton
Antique Ltd. It is one the well known antique provider entity of UK which is looking for gaining
adequate required fund to establish its new branch. Different financial sources including their
implications are to be described. Including this, budget as a decision making is to expressed
through this assignment on the basis of which forecasting for further business operations can be
presented. Moreover, various financial statements analysis including ratio is to explained.
However, learners are able to understand significance of financial management to expand
business organization and carrying on entity efficiently through this report.
TASK 1
1.1 Different sources of finance
There are several kinds of businesses which operates activities in different forms. In this
regard, incorporated and unincorporated businesses can be understood as below:-
Incorporated business:- These business entities are considered as corporations in which
decisions are taken by private individual for operating business activities. Moreover, there is
high level of government interfere presents that is interrelated with business operations.
Therefore, decisions related to business activities are made by owner of the entity by following
on government rules and regulations (Ayob, Ramlee and Rahman, 2015). Including this, there
is legal obligations present to carrying on entity so efficiently. Along with this, there is need to
register businesses and boundation for transaction of goods and increasing efficiency.
Unincorporated business:- It includes sole proprietorship and partnership firms under
which owner and private individual take decisions regarding business operations. In this regard,
there is no need to register company in company houses. However, there is less government
interfere for operating business activities. In accordance to this, decisions related to production
and distribution of goods as well business operations are taken by private individual. Moreover,
these entities set target to increasing efficiency and profitability of organization at high level.
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Hence, unincorporated business organizations are less bounded by government rules and
regulations therefore decisions regarding business operations are made by individuals that affects
various business operations effectively (Banerjee and et.al., 2016).
1.2 Implications for financial sources
As per the given case scenario, it is analyzed that partners of Clariton Antiques Ltd want
to start up a new branch of organization. Therefore, it sets target to allocate fund of 5 million
that is quite high (Bell and et.al., 2014). In this regard, manager of entity focuses on financial
resources critically as per which adequate decision can be made. Further, implications for
different financial sources can be understood as below:-
Sources Financial
implicatioBanerj
ee, G. and et.al.,
2016. ns
Legal
implication
Dilution of
control
Bankruptcy or
liquidation
implication
Shared issue High cost for
issuing shares
from shareholders
Less legal
formalities for
increasing
issuance of shares
Diluted If bankruptcy is
happened, then
payment will be
funded to
creditors first then
to debtors
Long term bank
loan
Low cost for
issuing shares
Lots of legal
formalities
required for
taking loan form
bank
Not diluted Same as in shared
issue
Grants from
government
Same as in taking
loan from
baBanerjee, G.
and et.al., 2016.
nk
Same as in long
term bank loan
Not dilution of
control
Same as in shared
issue
Venture Capital Highest cost for
taking help from
venture capitalist
Less legal
formalities
Control is diluted Same as in shared
issue
1.3 Appropriate source of finance for decision making
As partners of Clariton Ltd desires to allocate high level of fund then it is required for
them to concentrating on all financial sources critically. On the basis of which appropriate
4

decision can be made. In accordance to this, it is recognized that taking loan from long bank for
long time period and issuing shares is effective to arrange high level of fund. Therefore, reasons
behind choosing these sources can be understood as:- Long term bank loan:- High level of fund can be arrange through taking loan from
financial institution as bank. For allocating fund from this source, it is required for
manager of organization to concentrate on this source including interest rate and time
period for paying installments (Berman, 2015). It will be suitable for Clariton to select
bank that has less interest rate on loan financing as well time to paying installments. In
this regard, it is required to follow legal obligations for granting loan from bank therefore
obliged on all planning procedure for bank loan is needed. Hence, taking loan from bank
institution is appropriate to arrange high level of fund.
 Issues shares:- Through this financial resource, Clariton can encourage its shareholders
for issuing shares at large scale. With the help of this tool, organization can allocate
adequate fund for enlargement of entity by establishing its new branch. Thus, effective
amount for further business operation can be obtained efficiently (Consigli, Brandimarte
and Kuhn, 2015). As per market position of entity, it is recognized that organization is
well popular and has effective efficiency therefore sufficient amount can be gained
through this source.
Thus, it is identified that above mentioned two sources as taking loan from bank and
issuing shares are best tools to allocating fund. Including this, it is useful for enlargement of
Clariton as well able to increasing efficiency of firm for business operations. These sources are
considered as appropriate for financial management and operating business activities effectively.
TASK 2
2.1 Analyzing cost of financial sources
a) Dividend:- It is part of gained profit which is divided to shareholders of the company.
Therefore, in this process, for recognizing financial position of organization, paying dividend is
analyzed that impacts on monetary performance of organization (Fischer and Himme, 2016). As
per given data, it is evaluated that dividend given in last two years are equal such as 8000. Thus,
it can be foretasted that organization can get financial source through issuing shares at high level.
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Hence, dividend presents economic position of Clariton Ltd that generates different ideas for
fund allocation effectively.
b) Interest:- Interest charged on bank loan presents financial performance of
organization. In accordance to this, fluctuation in interest rates affects economic structure to
improve monetary condition of organization (Gibbert, Hoegl and Valikangas, 2014). Therefore,
increasing in interest rate affects performance negatively while decreasing in this rate increases
financial performance of entity. Thus, changing according to flexible interest rate is required to
maintain profitability.
c) Tax:- Increasing or decreasing in tax rate impacts on economic position of
organization. Thus, it is necessary to analyze financial performance through tax paid.
2.2 Significance of financial planning for Clariton Antiques Ltd
Financial planning including forecasting and decision making for for further business
operations is beneficial to following on determined planning procedure. It presents idea for
implementing strategy that affects on financial position of company. In this regard, financial
planning is relevant for adequate sources and investment that impacts on organization's monetary
performance (Kryukova and et.al., 2013). Therefore, different financial planning tools can be
understood as below:-
a) Budgeting:- It is a technique for decision making related to operating further business
activities. However, under this system, financial manager of organization analyzes business
performance that creates several ideas for effectiveness of firm and increasing its efficiency. In
this process, on behalf of current position of business organization, manager needed to prepare
planning and making decisions for expansion of entity (Lisowsky, Minnis and Sutherland,
2016). As per the given case, for enlargement of Clariton Ltd, it is needed to focusing on all
business determinants as well analyzing business performance of We Finance Ltd to take
advantage of venture capitalists. Hence, budgeting is one of the significant technique for
forecasting and decision making regarding operating business activities in future time.
b) Implications of failure to finance adequately:- It is required to recognize reasons
behind failure of financial adequacy. Analyzing gap between expected and actual fund is needed
to identified. However, failure of financing can be protected. In accordance to this, applying
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different techniques to rescue from risk is obtained (Mengel and Wouters, 2015). Therefore,
implications can be reduced effectively that affects on financial position of Clariton Ltd.
c) Over-trading:- It is considered as trading at high level. Including this, evaluation on
production and distribution of goods recognized as per which further ideas are created to
balance. Therefore, production and supplement as well different factors are obtained for trading
and transacting products. In this regard, over-trading get balanced through financial planning
including forecasting and decision making for further operations (Orfanos, Wright and Munk,
2016). Thus, financial planning is interrelated with creating balance of production and
supplement of goods.
2.3 Decision making for financing
For effective financing, Clariton Ltd makes decision to allocating required fund.
Therefore, gaining financial sources from different tools can evaluate as:-
a) Partners:- For taking financial help from other business entity as partner, Clariton
requires to analyze business and financial performance. On the basis of which decision can be
made to take support from partners (Peylin and et.al., 2013). In accordance to this, partners'
business efficiency and market value needed to be focused as per which further implementation
can achieved. Partners financial statement including profit and loss account, balance sheet,
income statement, cash and fund flow are to be recognized. Thus, for adequate financial decision
making, it is necessary to looking for partners' position and capability to supporting
economically.
b) Venture Capitalist:- As per given case scenario, it is identified that We Finance
Limited has approached to help for Clariton's expansion financial. In this process, organization
can help as 20% stake to achieve high level of fund. Thus, it is needed to recognizing business
performance of We Finance Limited (Uechi and et.al., 2015). On the basis of this, further
business operations can be created. However, proper decision can be made for sufficient help
from venture capitalist as well arranging financial sources efficiently.
c) Finance broker:- According to given case study, it is recognized that broker charges
1% on security for granting loan from bank. In accordance to this, for making decisions related
to taking help from bank and analyzing broker's role, it is required to focus on broker's
authenticity as well his business and economic performance that affects on sources of finance to
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Clariton Antiques Ltd. 2016.allocate adequate fund. Thus, financial sources can be obtained
through recognizing brokers' performance and his quality role in effectiveness of Clariton
Antiques Ltd. Hence, financial statement analysis is needed for sufficient financial sources and
allocating fund for expansion of organization by establishing new branch (Vinci and et.al.,
2013).
2.4 Critical evaluation on financial position of Clariton for taking decisions
a) Venture Capital:- For allocating fund to operate new branch of Clariton, manager of
organization requires to analyze all financial sources critically (Clariton Antiques Ltd. 2016).
Therefore, venture capitalist as We Finance Limited approaches organization to help with 20%
stake. It is required for entity to present positive and negative aspects (We Finance Limted,
2014). For example; of company takes help from venture capitalist then adequate fund can be
allocated that is useful for expansion of firm. On the other side, by refunding fund and paying
high level of interest on charges for venture capital inefficient fund can be obtained. Thus, it is
necessary for Clariton Antiques Ltd to decide sourcing for finance to enlarge company
effectively (Clariton Antiques Ltd, 2016). Including this, it is necessary for organization to
analyzing finClariton Antiques Ltd. 2016.ancial position of We Finance Ltd that company is able
to support or not. Thus, according top given case study, organization can take help from
approached entity that affects fund allocation appropriately.
b) Finance broker:- Clariton Antiques Ltd can also take help from finance broker by
loaning from financial institution as bank. In this regard, it is needed to analyzing finance
broker's performance and financial position to help organization. Thus, according to given case,
it is presented that broker will charge 1% on helping for fund allocation to organization.
Moreover, it is needed to identify monetary position and capability of broker to help firm. In this
regard, it is necessary to building up trust and different aspects for granting loan from bank with
the help of broker as soon as possible (Zack, 2013). Hence, making decisions related to
allocating financial sources for expansion of Clariton Antiques Ltd by establishing new branch.
It will impact on economic position of organization. Therefore, it is necessary for entity to
focusing on all positive and negative aspects of finance broker for fund allocation.
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TASK 3
3.1 Cash budget for Clariton Antiques Ltd on decision to improve financial position
Budget is an effective an activity to improve financial position of organization. It is
planning procedure and decision making tool for further business operations. Therefore, financial
manager of entity analyzes economic performance as incurred cost on expenses and gained
income for production and distribution of goods (Banerjee and et.al., 2016). In this regard,
monetary performance of company get improved through this process and best utilization of
resources and fund can be obtained at high level. In this process, manager of Calriton Ltd
recognizes financial position of organization for last 6 months as January to June can be
presented as below:-
Interpretation:- By analyzing financial position from January to June, it is analyzed that
profit earning ratio of Clariton Ltd is enhanced effectively. As per data interpretation, it is
evaluated that in reigning months, organization had not effective economic position as
company's graph was in downwards direction. As it faces loss, further by preparing strategies
and implementing action plans, financial position of organization get improved. In this process,
in April company gained 48500 which increases in May as 166250. Furthermore, in June
economic performance of entity get developed as 235250 that presents effective business
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performance. Therefore, it can be foretasted that as per current position of Clariton, further
implementation and expansion of organization can be achieved efficiently. However, it impacts
on profitability and market position of entity. Hence, in future time, Clariton can enhance its
efficiency through applying different strategies and sourcing financial resources for effectiveness
of organization. In this regard, it is identified that cash budget is significant to present actual
business performance and creating various ideas for further business operations. Including this,
through this method, it is evaluated that company can invest reserved fund and taking help from
other sources for its enlargement and increasing efficiency at high level (Berman, 2015). Thus,
preparing budget is best tool for decision making process and implementing action plans in
further time to establish its new branch as well carrying on entity for long time period efficiently.
3.2 Pricing decisions
Costing is an approach to determine price of products on which decisions are made for
production and distribution of goods. In this process, cost incurred on production is obtained as
per which further balance between production and supplement of goods can be created.
However, price of any product is set based on market value, quality of material used in
processing. Including this, different techniques are used for costing such as marginal and
absorption costing (Consigli, Brandimarte and Kuhn, 2015). Under which, prices are determined
for decision making process. Further, on behalf of this costing and market position income
statement is prepares that represents financial position of organization. In this way, it has been
identified that pricing decision is quite effective to gain economic portfolio of organization and
preparing action plans to improve monetary performance of entity. Therefore, financial manager
of Clariton Antiques Ltd presents following pricing decision by which further implementation
can be gain such as:-
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Interpretation:- As per data interpretation, it is analyzed that purchasing material cost
per unit is 200 and expenses on freight is incurred as 10. Therefore, total expenditure cost is
obtained as 210. Further, profit earned by organization is 30% that is 63. Thus, net selling price
is measured as 273. Hence, according to this interpretation, it is recognized that income earning
position of Clariton is quite good that presents financial position of organization. Thereby, it can
be foretasted that in future time, entity can increase its profitability and as per its financial
position, it can expand business organization effectively.
3.3 Investment decision
Financial manager of Clariton Antiques Ltd uses different techniques to invest fund for
fund allocation and effective financial management of organization. Under this system, various
investment techniques are applied for investment in which appropriate decision is taken for
investing fund regarding expansion of Clariton Ltd. It includes pay back period, average rate of
return and net present value. Thus, these tools are able to compare two projects and choosing
best alternate regarding projecting (Kryukova and et.al., 2013). It is best tool for forecasting and
decision making for preparing planning procedure and implementing action plans to following
on determined steps. Thus, investment technique as pay back period is estimation of time period
to accomplishing task. Similarly, average rate of return is interrelated with presenting average of
rate and profit margin in comparison. On the basis of this factor, further implementation is
generated that affects investment and financial management for completion of project. Moreover,
net present value is terms as to select appropriate project plan for effective investment. Hence,
these investment techniques are able to selecting best project to accomplish any task with proper
planning and decision making process.
However, following investment techniques are used can described as below:-
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Pay back period
Average rate of return
Net present value (NPV)
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TASK 4
4.1 Financial statement analysis
Financial position of Clariton Antiques Ltd can be presented by analyzing its financial
statements including profit and loss account, balance sheet, income statement, cash flow and
fund flow of organization. On the basis of which further business operations can be
implemented. Therefore, financial statement analysis and their significance can be understood as
below:-
a) Income statement:- This financial statement analysis is helpful to gain balance of
incurred expenses and gained income. In this process, expenses is compared with revenue that
presents financial position of Clariton Antiques Ltd. Under this system, financial manager of
organization prepares and maintain income statement, balance sheet and profit and loss account
that is valuable to present economic structure of entity (Peylin and et.al., 2013). In this regard, on
the basis of evaluating this income statement, financial position of firm is obtained as per which
profit earning capacity of organization is presented. Therefore, on the basis of this income
statement analysis, increasing in profitability can be achieved at high level.
b) Statement of cashflow:- Cash flow statement includes flowing of cash and liquidity.
Therefore, liquidity position of Clariton is presented through this financial tool. In this process,
cash inflow and cash outflow is presented as per which different ideas are generated for creating
13

balance of expenses and revenue. Thus, by using this component, difference between cost
incurred on expenses and earned income is presented on behalf of which further implementation
is created. Therefore, cash flow statement analysis is helpful for adequate funding and enhancing
productivity and profitability of firm at large scale.
c) Statement of changes in equity and gains:- There are changes in equity and gains
obtained that impacts on financial position of organization. Thus, this statement is recognized by
manager of Clariton thereby further business operations are implemented (Uechi and et.al.,
2015). In accordance to this, financial statement is presented as well equity and gaining position
is obtained by which profitability of firm can be achieved efficiently. However, it is considered
as one of the effective tool for adequate equities and gaining profit efficiently.
d) Statement of financial position:- It includes financial statement components such as
profit and loss account, balance sheet, income statement that presents economic performance of
entity. Therefore, according to identifying this financial position, different ideas are created for
enhancing profitability at large scale (Banerjee and et.al., 2016). However, statement that
presents monetary position impacts on business performance as well productivity of
organization. Therefore, on the basis of financial position analysis various tools are obtained for
expansion of entity in further years.
e) Notes to financial statement:- Clariton Antiques Ltd prepares and maintain financial
notes such as journal and ledger that presents economic position of organization. However, it is
interrelated with presenting monetary profile and maintaining records related to all business
operations (Vinci and et.al., 2013). For example; preparing purchase and sales account, revenue
and expenditure particularly. However, specific business operations' performance is obtained
through this process as per which varieties of ideas are generated that impacts on profit earning
capability of organization.
4.2 Format used by Clariton Ltd to present financial statement with sole trader
It is required to prepare and maintain different kinds of records to present financial and
business performance. In this process, various statements and reports are recorded by Clariton,
its partners and sole traders. Therefore, for company, profit and loss account, income statement,
balance sheet and capital account is required to be prepared. However, for partners of the
organization, it is necessary to prepare partners' capital account and profit and loss account.
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Similarly, for sole traders, there is no need to prepare all financial statement as well it is needed
to prepare only income statement that presents financial position of organization (Orfanos,
Wright and Munk, 2016). In this regard, different business organizations and required accounts
to be maintained can be express in tabular form as:-
Business entity/ partners Required account to be maintained
Company All financial accounts (income statement,
balance sheet, profit and loss account, cash
flow and fund flow)
Partners Profit and loss account, partners' capital
account
Sole trader Only income statement
4.3 Ratio analysis
It is one of the great financial component that presents monetary position of entity.
Therefore, financial manager of Clariton Antiques Ltd analyses these ratios by comparing
profitability and liquidity of last years' performance (Peylin and et.al., 2013). In this regard, ratio
analysis for organization can be understood through following ratios to obtain financial and
liquidity position of firm as:-
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Interpretation:- Above mentioned all ratios can understand as:-
Profitability ratio:- This ratio is to present profitability as profit earning capability of
Clariton Ltd. Therefore, as per data interpretation, it is evaluated that in 2015, gross profit
margin of organization was 14.38% while in 2016 it is 14.18%. it is because of improper balance
of production and distribution of antique items. Including this, in last year, there were uncertain
changes occurred at workplace that is required to be improved. Therefore, financial manager of
organization needed to prepare strategies for increasing profitability and it is necessary to
allocate fund for further business operations. Moreover, by recognizing net profit, it is measured
that net profit is increased in 2016 in comparison to 2015. Thus, financial stability and incaresing
profitability can be achieved effectively.
Liquidity ratio:- It is related to present liquidity of organization. Under this ratio
analysis, current ratio is determined by dividing current assets to current liabilities. In this
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process, in 2015, current ratio is obtained as 2.41 while for 2016, the ratio is presented as 2.48.
Therefore, the different between two years' liquidity position is 0.08 which is effective for
inventory management and enhancing productivity of firm. Therefore, it is necessary for Calriton
to maintain liquidity ratio and producing more effective goods to increase in demand for
company's goods systematically.
Solvency ratio:- It is evaluated through comparing debt or loan to equity. Thus, equity
position and impact on financial position of firm by changes in equities is obtained. Thereby,
through this data interpretation, in 2015 this performance is 0.16 while in 2016, it increases to
0.03 ratio in 2016. Thus, Clariton requires to increasing equities to enhance efficiency of
organization at high level.
Efficiency ratio:- It is also considered as asset utilization ratio by which asset position is
presented to increase in financial position of Clariton Ltd. Through this process, by comparing
last years' performance, it is evaluated that efficiency ratio is increased in 2016. Hence, in future
time, efficiency of company can be increased effectively that affects on financial position and
profitability to establish new branch efficiently.
CONCLUSION
The report is concluded that financial management company's resources can be managed
effectively through analyzing current economic position and making decisions for further
business operations. In this regard, different monetary sources are determined for fund allocation
to expand Clariton Antiques Ltd. However, critical evaluation on decision making tools for
funding is considered. Including this, various financial components such as ratio analysis,
budget, income statement and financial statement analysis is presented through this assignment.
Moreover, various financial planning tools and decision making for sources and investment of
fund is described. Hence, deep knowledge regarding financial resources and decision making is
considered for establishing new branch of entity through this report.
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REFERENCE
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Online
Clariton Antiques Ltd. 2016. [Online]. Available through: <http://clarionevents.com/>.
[Accessed on 6th April 2017].
We Finance Limted. 2014. [Online]. Available through: < [Online]. <http://www.wefinance.ie/>.
[Accessed on 6th April 2017].
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