Managing Cash Shortfalls in Business

This assignment delves into the crucial aspect of managing cash shortfalls in businesses. It examines various options available to address temporary liquidity issues, including internal adjustments, external financing, and strategic decision-making. The focus is on understanding the factors contributing to cash flow problems and implementing effective solutions to ensure financial stability.

Managing Financial
Resources and
Decisions
1

Table of Contents
INTRODUCTION...........................................................................................................................3
TASK 1............................................................................................................................................3
1.1 Financial sources available to different businesses...............................................................3
1.2 Implications for utilizing internal and external sources of finance........................................5
1.3 Most suitable sources of finance for Clarion-antiques-limited..............................................6
Task 2...............................................................................................................................................6
2.1 Cost of financial sources........................................................................................................6
2.2 Significance of financial planning for Clarion-antiques-limited regarding fund allocation..7
2.3 Information that is required for decision making on financing.............................................7
2.4 Impact on financial statements of Clarion-antiques-limited..................................................8
TASK 3............................................................................................................................................9
3.1 Cash budget for Clariton Antiques Limited, its analysis and suggestions in order to
overcome shortfalls......................................................................................................................9
3.2 Ways for assessing cost of each unit and prices as well......................................................10
3.3 Different methods of capital budgeting for taking investment decisions............................12
task 4..............................................................................................................................................14
4.1 Key elements of financial statements..................................................................................14
4.2 Format used by Clarion-antiques-limited to present financial statements with sole trader or
partnership or both.....................................................................................................................15
4.3 Interpretation of current financial statement of Clarion-antiques-limited through ratio
analysis.......................................................................................................................................16
CONCLUSION..............................................................................................................................18
REFERENCES..............................................................................................................................19
2

INTRODUCTION
Financial management organization is important for the entire business organization's
development. It includes different sources and monetary tools for proper fund allocation. The
present report is based on understanding financial resource management and making decisions
for Clariton Antiques Ltd. It is one of the largest antique items provider enterprises of London
which is looking for its expansion by operating new branches. In this regard, various internal and
external financial sources for allocating fund are also determined. However, financial planning
and decision making for the systematic financial management is to be recognized. In addition to
this, cash budget is prepared and pricing decision is made by performing relevant calculation.
Along with this, elements of financial statements are discussed and comparison of business
performance is carried out by using ratio analysis method.
TASK 1
1.1 Financial sources available to different businesses
Unincorporated business: - These organizations are not registered in company house. In
accordance to this, decisions regarding business operations are taken by the company's owner
and manager. Under these entities, partnership, sole trader and private limited companies
prepare strategies set by an individual. For instance; Clariton Antiues Ltd is one of the great
examples of unincorporated business which is handled and operated by its four partners.
However, unincorporated organizations are under monitor of private individual which are not
registered in the company’s house of UK (Morley and et.al., 2016). In this regard, decisions
including financial and non-monetary are made by the company's owner to operate the
organization effectively. Thus, unincorporated business entities are operated by the private
individuals to maintain good reputation and enhancing profitability of the firm.
Incorporated business: - These are those organizations that are registered in company's
house. Therefore, these companies have to follow rules and regulations provided by the
Company house of UK. Under these businesses, there are some criteria and after passing the
same any firm can be registered as company. Under incorporated business, various entities of
UKlike Tesco, Sainsbury etc. In addition to this, there are government intervention presents for
supplementing goods and producing qualitative services of the firm. However, incorporated
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Massingham, P., 2014.business entities set target in increasing profitability in business. Social
welfare is another target of the firms which is fulfilled by performing the CSR activities. Thus, it
can be said that companies have multiple targets in their business (Massingham, 2014).
Internal financial sources
These include reserve fund and earned profit for allocating fund regarding expansion of
Clariton Antiques Ltd. However, various tools and components can understand as below:-
Personal saving: - Partners of Clariton Ltd can use their personal savings for expanding
the entity. In this regard, saved money in bank and other financial institutions can be utilized on
enlargement of organization by establishing new branches (Staddon, 2016). It is considered as an
effective source but it impacts financial position of individual.
Retained Earnings: - It is determined as net income company earned. Therefore,
reserved fund and gained profit can be used for allocating the fund regarding operating new
branches in Birmingham. Including this, it is also considered as risky for further business
operations due to decreasing in the liquidity assets of organization.
Sale of assets: - It is a source from where some times firm arrange finance to fund their
operations. In this regard, old and wastage machinery equipment are sold out and in this way
fund is obtained from this source of finance (Hart and et.al., 2014).
External sources for allocating fund
These are those sources that can be allocated from different financial institutions Ican
express as:-
Long term loan: - Taking loan from financial institutions such as bank and other
institutions that provide loan facilities. In this regard, high level of finance can be obtained
through this source that is usable for enlargement of Clariton Antiques Ltd by establishing new
branches (Monteiro, 2016). However, it impacts the financial position of organization. In this
accordance to this, interest rates over loan services affect economic structure of the firm.
Borrow money from other business entities: - According to set targets, for gaining fund
can be obtained through taking help from other organizations. It remains usable to allocate large
scale fund for operating new branches. However, there is implication determined for presenting
monetary profile of Clarion-antiques-limited. Thus, company must focus on this tool for taking
advantage of loan from other businesses (Laot, 2016).
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1.2 Implications for utilizing internal and external sources of finance
As per the given case scenario, Clarion-antiques-limited is looking for expanding the
organization by operating new branch in Birmingham. Therefore, it needs to allocate £0.5
million. Implications of sources of finance are given below.
Sources Financial
implications
Legal implication Dilution of control
Personal savings Lack of personal
saving is obtained
No legal formalities It is risky to utilize
personal money for
further business
operations.
Retained earning There are no financial
implications because
retained earnings are a
part of profits and
there is no cost of
capital of same.
Less formalities Control of existing
shareholders will
remain unchanged.
Sale of assets Selling of wastage and
old machinery
equipment affects the
monetary structure of
organization.
Less legal implications Same of retained
earnings.
Long term loan Affects finance of
company due to
fluctuations in interest
rates.
Required lots of legal
formalities
Same of retained
earnings.
Borrow money from
other business
Less financial
implications for taking
No legal formalities. Same of retained
earnings.
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organizations advantage of
borrowing money due
to less percentage of
interest charged on
debt by the business
friends.
1.3 Most suitable sources of finance for Clarion-antiques-limited
As per the given case scenario, partners of Clarion-antiques-limited are looking for
allocating £0.5 million which is huge amount. Therefore, determining appropriate source is
essential for expansion of firm. In accordance to this, sources can be critically recognized for
effective fund allocation can obtain as below:-
Above mentioned sources are valuable for fund allocation to expand Clarion-antiques-
limited effectively. For obtaining adequate fund, partners of the company critically analyze all
internal and external sources of the monetary resources. Further, they choose appropriate sources
such as; taking loan from bank and financial institutions which is useful for allocating £0.5
million (Koropp and et.al., 2014). Including this, retained earnings and borrowing money from
other businesses are considered as valuable for fund allocation which is helpful in expanding
Clariton Ltd through operating new branches. Retained earnings is assumed appropriate source
of finance because there is no cost of capital of same. There is less cost of bank loan and due to
this reason it is also considered as an appropriate alternative for the business firm. Thus,
organization can utilize high level of fund from these sources which is useful in expanding the
entity by operating other new branches.
TASK 2
2.1 Cost of financial sources
a) Dividends:- According to case scenario, We Finance Ltd approaches to help for fund
allocation regarding enlargement of Clarion-antiques-limited. Therefore, venture capital is high
that impacts on dividend to paid. Through this analysis, it is determined that dividend rate is
higher than interest that affects cost of financial sources (Fahy, O'Brien and Poti, 2016).
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b) Interest:- As Clarion-antiques-limited is looking for taking advantage of bank loan. In
this regard, it is essential for organization to focus on interest rate. It is considered that
fluctuations in interest rate affects economic performance of firm. Thus, for obtaining fund, firm
needed to checking out interest rate for taking loan services provided by bank.
c) Tax:- It is related to government policy and income tax rate that impacts on financial
position of Clariton Ltd. According to given table, it is analyzed that in 2015, company paid 13
million while in 2016, expense on tax is 14 million. Therfeore, financial position of firm is
reduced. It is considered as basis for requirement of fund due to paying money for government
policy plans (Chhatwal and et.al., 2015).
2.2 Significance of financial planning for Clarion-antiques-limited regarding fund allocation
For establishing new branches of Clariton, financial planning is required that includes
following tools such as:-
a) Budgeting:- It is technique for forecasting and decision making related to further
business activities. In accordance to this, partners of Clariton prepare budget for fund allocation
to start up new branches of company (Garnier and et. al., 2015). Therefore, budget is useful for
implementing business activities and enhancing qualitative services of firm.
b) Implications of failure to finance adequately:- There are several barriers occur for
proper financing. Thus, for recovering obstacles financial planning is made by partners of
Clariton Ltd. In accordance to this, several planning and decision making is implemented to
reduce issue of inadequate fund. However, financial planning is useful for getting sufficient fund
that is crucial for enlargement of business organization.
c) Over-trading:- The term is related to creating balance of trading for adequate fund
allocation. Hence, financial planning is essential for reducing over trading of antique items of
Clariton Ltd (Berman, 2015). However, it is beneficial for getting economic growth of firm. It is
determined that effective financial planning is helpful for proper trading.
2.3 Information that is required for decision making on financing
a) Partners:- Financing for proper fund can be obtained by partners' important role. In
this regard, partners of Clariton Antiques Ltd make decision regarding fund allocation. Including
this, they share profit earned by company as per terms and conditions. However, planning and
decision making regarding production and distribution as well qualitative services provided by
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company are handled by these stakeholders (Sullivan and et.al., 2014). Thus, partners of
company plan and evaluate business performance as well share profit and loss achieved by
organization.
b) Venture Capitalist:- According to given scenario, We Finance Ltd approaches
Clariton Antique Ltd for adequate fund allocation. Thus, venture capitalist is considered as an
approach for getting fund and expand entity. However, taking help form other business
organization remains as great technique for Clarion-antiques-limited regarding funding and
establishing new branches of firm (Megginson, Ullah and Wei, 2014).
c) Finance broker:- These are those individuals who remains helpful for financial
support. As per the given table, there is broker charged 1% interest over taking loan for
allocating fund. Therefore, it is required for partners of Clariton to focus on interest rates that
impacts on economic position of organization. Thus, financial broker plays important role in
economic support and stability of organization.
2.4 Impact on financial statements of Clarion-antiques-limited
Partners and manager of Clariton Ltd identify and forecast financial statement if it take
help from venture capitalist and finance broker can explain as below:-
a) Venture capitalist:- For fund allocation of regarding expansion of business
organization We Finance Ltd proposed help as venture capitalist. Under which, it is essential to
concentrate on capitalist business profile and its activities (Hou and et.al., 2013). As per given
scenario, it is determined that venture capital organization offers 20% stake for helping needed
entity. However, it remains as large amount for expansion and enhancing qualitative services of
firm. Thus, partners can take decision for fund allocation regarding venture capitalist effectively.
It affects economic structure of firm that is useful for expansion of entity.
b) Finance broker:- For taking advantage of loan service from bank, it is determined
that broker charges 1% interests. In addition to this, bank charges 2% interest for loan over 10
years. Thus, overall interest obtained is 3% for taking loan more effectively. However,
organization requires to focus on finance broker to enlarge Clariton Ltd. In this regard, it is
essential to concentrate on broker's role for fund allocation. It impacts on financial statement of
organization for loaning and other services (Petruzzo and et.al., 2015).
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TASK 3
3.1 Cash budget for Clariton Antiques Limited, its analysis and suggestions in order to overcome
shortfalls
The statement which shows various kinds of incomes along with disposals for the
upcoming financial year is identified as a cash budget. It is one of the most important and widely
used method for predict and determine cash balance at the end of specific period of time. Further,
with help of cash budget the management of Clariton easily able to identify surplus and deficit.
Along with this, it can formulate effective strategies for the company and take better business
decisions (Dekker, Ding and Groot, 2016.). There are different kinds of budgets are prepared by
management such as cash, sales, material, production etc. in this case cash budget for Clariton is
stated below:
Table 1: Cash budget
Analysis of cash budget
Aforementioned table of cash budget indicates that, Clariton unable to collect cash or
fund in adequate manner in the same month. It can be visualized that among all the incomes very
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low cash is generated in same month due to increasing bank overdrafts. Apart from this, net cash
balance at the end of January is very low in all the months which is worth of -649750 GBP. In
this month incomes and disposals are worth of 157500 and 807250 GBP respectively which lead
to generate negative income in month ending. Afterwards, management of Clariton uses better
strategies which helps to generate positive balance in every months. From the month of January
to June the highest cash balance generated by firm is in March which is worth of £315250. Due
to having control on cost and expenses as well as enhance revenue cash flow is higher in
respective month. Apart from this at the end of June incomes generate by Clariton are £288750
and outflows are worth of £219750, due to this cash balance is positive i.e. £69000. From the
overall analysis it can be said that performance of the company is not poor but little good.
Further, it needs to improve cash balance to enhance its financial performance in the industry of
Antique items.
Suggestions for overcome shortfalls
 In order to reduce negative cash balance the management of Clariton should check and
review about the cost and expenses which are incurred in operation process. It helps to
identify activities where expenses are higher and company able to take corrective actions
against it (Options to cover cash shortfalls, 2016).
 Further, policymakers of Clariton requires to offer various kinds of discounts as well as
schemes which helps to increase interest of customers towards purchasing its antique
items. With this sales production will increase by which total expenditures are as well.
 Along with this, it needs to formulate and applied highly effective promotional and
marketing activities to increase awareness and purchasing power of consumers towards
consuming antique items offered by Clariton Antiques Limited.
3.2 Ways for assessing cost of each unit and prices as well
In the corporate world, all the companies determine cost and price of every products and
services which are produced in the firm. With help of this management able to derive prices of
selling to sell in the market. Generally, for determine cost all kinds of expenses which are
incurred in the firm such as production and non-production are used. In the present a scenario,
Clariton Antiques Limited is operating in services industry where production expenditures are
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not incurred in business. Furthermore, only non-production expenses are used for determine cost
of each antique item.
Table 2: Unit cost and pricing
Expenses Amount (in £)
Cost of design antique items 500
Maintenance expenses 600
Administration cost 450
Salary or wages to staff 320
Rent on building 260
Interest amount 180
Premium on insurance 90
Total expenses 2400
Total number of antiques items 20 items
Cost of each antique item = 2400 / 20
=£120
Profit margin 25%
Price of each antique unit = 120+25%
= £150
From the above table it can be analysed that for derive cost of each item total cost and
production units are used. Cost in incurred for every antique item is worth of £120 and on the
basis of this price of each unit is to be determined.
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There are various types of pricing methods are used by different companies which are
such as cost plus, value added, skimmed, market based etc. In the present case cost plus pricing
method is used where percentage of profit which the management wants to take is supposed to
add in cost of each item (Stacchezzini, Melloni and Lai, 2016). Here Clariton charges 25% profit
margin from customers which is added in cost of each antique items. Furthermore, price of each
item is worth of £150 (120+25%). Hence, the management wills sell every item at the price of
£150 in the market.
3.3 Different methods of capital budgeting for taking investment decisions
While taking highly effective investment decisions the company uses capital budgeting
techniques and tools. These tools are most beneficial and provide appropriate decisions which
are such as NPV, IRR, Payback period, ARR etc. The methods and decision are stated below:
Table 3: Calculation of NPV
Table 4: Computation of ARR
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Table 5: Calculation of Payback period
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Interpretation
From the above all the tables of capital budgeting techniques it can be assessed that, both
the projects are able to generate enough return worth of £3.4m and meet with the Peter's
benchmark. Here as per net present value investment one is beneficial for Clariton. Both the
investment meet with benchmark of NPV i.e. £2m. In addition to this, as per the another tools
such as average rate of return and payback period investment 2 is better which provides value
such as 43.56% and 3 years respectively. On the basis of Peter's criteria i.e. 35% and 3.5 years
for ARR and payback both are better and provide benefit. Among all the tools NPV uses time
value of money, all cash flows as well as cost of capital due to which it is the most reliable
method (Persaud, Woodhouse-Jackson and Scriven, 2016). Hence, it can be suggested to
Clariton's management that it should invest money in the investment criteria one.
TASK 4
4.1 Key elements of financial statements
Financial statements of organization present economic structure and analyze income as
well expenditures of firm. It includes following financial statements can describe as:-
Income statement:- It includes profit and loss account, balance sheet, expenditure and
revenue of firm. Therefore, actual economic structure and business performance is determined by
analyzing income statement. Including this, cash flow and fund flow of company is obtained for
price determination and cost calculation for business operations. Moreover, earned gross profit
and loss is obtained that represents financial statement. Thus, income statement is considered as
key component of financial statement (Morley and et.al., 2016). However, it is tool for decision
making and preparing planning for further business activities.
Cash flow statement:- This financial statement is useful for determining flow of cash
and liquid assets. It involves operating, investing and financing activities. In accordance to this, it
provides information related to company's liquidity and assets. Along with this, several ideas are
generated for funding and accounting methods regarding flowing cash for entity's effectiveness.
In this regard, actual financial performance and economic structure for costing and liquidity is
obtained by recognizing cash flow statement (Hart and et.al., 2014).
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Statement of changes in equity and gains:- It is one of the financial statement that is
useful to present monetary and business profile of organization. In accordance to this, company's
share capital, profit and loss, interests and accumulated income is determined. However, through
this statement, paying dividend and increasing profit capacity is obtained. Thus, actual
performance of organization related to economic and non-monetary terms are identified.
Statement of financial position:- Financial statement as balance of company is key
component to recognize assets and liabilities of entity. In this regard, overall expenditures and
revenue of firm is determined (Monteiro, 2016). Therefore, variable and fixed assets including
liabilities of firm is obtained through balance sheet. It represents financial position also
determines several ideas for operating business activities in further years.
Notes to the financial statement:- It includes journal, ledger, book keeping and several
records that present financial structure of organization. Through these economic notes, various
business activities and monetary profile of company is obtained. Hence, systematic records of
production-distribution of goods, expenditures and revenues are maintained that is helpful for
increasing efficiency and effectiveness of firm systematically (Koropp and et.al., 2014). In this
regard, proper financial structure and business performance is determined to expand and increase
profitability of entity.
4.2 Format used by Clarion-antiques-limited to present financial statements with sole trader or
partnership or both
Records and financial statements related to company's performance are prepared and
maintained. Different components have to maintain various financial statements. For example;
partners have to prepare profit and loss account as well capital account. In accordance to this,
partners of the organization require to maintain only these accounts that presents their financial
statement and profit earning capacity. Including this, Clarion-antiques-limited requires to prepare
and maintain profit and loss account, income statement, balance sheet and overall financial
statements that represent organization's economic structure (Berman, 2015). Thus, it is required
for entity to maintain all kinds of records by which different innovative ideas can be generated
regarding further business activities. In addition to this, sole trader requires to maintain only
profit and loss account. However, there is no need to maintain any other accounts that present
economic position of firm.
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4.3 Interpretation of current financial statement of Clarion-antiques-limited through ratio
analysis
Profitability ratios Ratios 2015 2016
Revenue 1220 1255
gross margin 175 178
Gross profit ratio Gross margin / revenue 14.34% 14.18%
net margin 23 33
Net profit ratio Net margin / revenue 1.89% 2.63%
Liquidity ratios
Current assets (CA) 746 785
Current liabilities (CL) 309 317
Current ratio
Current assets / current
liabilities 2.41 2.48
Solvency ratios
Debt 45 57
Equity 276 301
Debt equity ratio Debt / equity 0.16 0.19
Efficiency ratios
Cost of goods sold (COGS) 1045 1077
Stock 46 47
Stock turnover ratio COGS / Stock 22.72 22.91
Net revenue 1220 1255
Fixed assets 675 680
Fixed asset turnover ratio Net revenue / fixed assets 1.81 1.85
Profitability ratios Ratios 2015 2016
Revenue 1220 1255
gross margin 175 178
Gross profit ratio Gross margin / revenue 14.34% 14.18%
net margin 23 33
Net profit ratio Net margin / revenue 1.89% 2.63%
Liquidity ratios
Current assets (CA) 746 785
Current liabilities (CL) 309 317
Current ratio
Current assets / current
liabilities 2.41 2.48
Solvency ratios
Debt 45 57
Equity 276 301
Debt equity ratio Debt / equity 0.16 0.19
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Efficiency ratios
Cost of goods sold (COGS) 1045 1077
Stock 46 47
Stock turnover ratio COGS / Stock 22.72 22.91
Net revenue 1220 1255
Fixed assets 675 680
Fixed asset turnover ratio Net revenue / fixed assets 1.81 1.85
Gross profit and net profit ratio:- This ratios represent profit earning capacity of
organization. According to ratio analysis for 2015 and 2016, it is determined that Clarion-
antiques-limited has decresed its gross profit ratio as 14.34% to 14.18%. It is due to imbalanced
production and distribution of antique items. However, it is required for entity's growth to
prepare strategic plans for further years.
Liquidity ratio:- It represents liquid assets and financial position of organization that is
ratio of net margin to revenue. By analyzing ratios for 2015 and 2016, it is obtained that in 2016
company is achieveed 2.63% while in 2015 organization's net profit margin is 1.89%. It is good
for enhancing profitability of firm in further years.
Current ratio:- The ratio of current assets to current liabilities is considered as current
ratio that represents financial statement of Clarion-antiques-limited. As per ratio analysis, it is
obtained that in 2015, company's ratio is 2.41 while in 2016 it is 2.48. Hence, 0.7 is increased
that is effective for organization's effectiveness. However, it can be foretasted that company can
maintain its effective reputation in future.
Solvency ratio:- It is also one of the great tool to present financial statement of Clarion-
antiques-limited. It includes debt and equit that genrates idea for further business activities. In
this regard, through above mentioned ratio analysis table, it is obtained that in 2015 company’s
debt equity ratio is 0.16 which in comparison top 2016, it is 0.19 that presents economic
structure of organization.
Fixed assets turnover ratio:- It is ratio of net revenue to fixed assets which present
financial statement of Clarion-antiques-limited. In 2015, it is 1.81 while in 2016 it is determined
as 1.85. therefore, by analyzing these ratios, further financial and non-economic planning can be
implemented for further business activities.
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CONCLUSION
The report is concluded that financial statements of any organization present economic
structure and performance of business entity. In accordance to this, various financial sources are
determined for allocating to expand Clarion-antiques-limited. However, importance of financial
planning for effectiveness of firm is obtained that impacts on organization's business activities.
Including this, tools and techniques for preparing planning and organizing business is
considered. Moreover, through this study, tools to prepare cash budget and analyzing income
statements are recognized. In addition to this, key components of financial statements and
comparing business performance through ratio analysis is also determined through this report.
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Online
Options to cover cash shortfalls, 2016. [Online]. Available through:
<https://www.westpac.com.au/business-banking/solutions/cash-flow/cover-cash-
shortfalls/> [Accessed on 3rd March 2017].
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