Finance for Strategic Managers

This study material focuses on finance for strategic managers. It covers topics such as the importance of financial information in business, business risks related to financial decisions, interpretation of financial accounts, and calculation of financial ratios. The material provides valuable insights to improve strategic decision-making skills.

Finance for Strategic
Managers

Contents
INTRODUCTION.......................................................................................................................................3
ACTIVITY 1...............................................................................................................................................3
1. Why financial information is needed in business.................................................................................3
2. Business risks related to financial decisions........................................................................................4
3. Summary of the financial information for business decisions..............................................................5
ACTIVITY 2...............................................................................................................................................6
1. Explanation of the purpose, structure and content of published accounts............................................6
2. Interpretation of the financial accounts in these accounts....................................................................7
3. Calculation of financial ratios and how support strategic decision making........................................12
ACTIVITY 3.............................................................................................................................................13
Distinguishes between long and short-term financial requirements for businesses................................13
Comparing the sources of long and short term finance for businesses...................................................15
Examination of cash flow management techniques and an assessment of why the management of cash
flow is so important...............................................................................................................................16
ACTIVITY 4.............................................................................................................................................17
Different ownership structure and compare and contrast of roles & accountability of owners and
managers in making decision.................................................................................................................17
Evaluation of methods for appraising strategic capital or investment projects......................................19
CONCLUSION.........................................................................................................................................20
REFERENCES..........................................................................................................................................21

INTRODUCTION
Finance is major aspects for business managers in attempt to take effective and corrective
actions. There are number of approaches and strategies such as ratio analysis, financial statement
interpretation and many others in attempt to take reasonable decisions. Essentially, the key
aspect that must be recognized by executives is in each form of organization is finance (Bentley,
Omer and Sharp, 2013). The project study is focused on family company that has been
established by a fresh member and needs to acquire crucial financial skills knowledge such that
resources could be employed most effectively. The study is divided into four major activities; the
first one contains detailed information regarding importance of business's financial data; while
second activity focuses on analyzing of company's financial statements. The third one activity is
concerned with analysis of longer- and shorter-term finance for a corporation or business.
In later part of study, appropriate strategies have been applied towards investment projects.
ACTIVITY 1
1. Why financial information is needed in business.
Using different forms of statements like income statements, cash-flows, financial position
etc., and financial information are received. For managers, these financial information are very
critical to take corrective measures. Following, the significance of fiscal information are stated as
follows:
 In attempt to determine the financial performance of businesses, financial information
is advantageous.
 These types of data could be considered as a foundation for taking longer-term decisions, such as
taking large investment opportunities by using accessible threat and returns corporate financial
data (Collins, Pasewark and Riley, 2012).
 Financial information is important as it offers significant information regarding the sustainability
of business accounting and reporting.
 Financial data helps companies make better financial decisions as they highlight the major ROI
(return on investment) components of the company.

 Financial information important for organizations to comprehend the areas where changes are
deemed necessary.
These are therefore several main significance of business's financial information as well as, in
the sense of family business stated above, they need to comprehend this significance in business.
When they are conscious of the significance of business's financial information, effective use
of financial assets and other resources available would be conceivable for them.
2. Business risks related to financial decisions.
Risk is present in any commercial operation, and successful risk management is integral
part of the operation of a sustainable firm. Business management includes varying levels of risk
mitigation. Any risks could be managed explicitly by careful monitoring. In the scenario of
finance feild, there are distinct types of risks that have a massive effect on the functioning of the
present state of businesses. These types of risks are evolving in businesses due to inaccurate
financial choices. Some typical financial risks in business context are described below:
Market risk-: These risk involves a detrimental change in the conditions of the setting
wherein the organisation works. One example of competitive market risk is increasing trend of
clients to purchase online. This component of market risk posed the most serious hurdles to
traditional retail businesses. Firms which have been prepared to make the necessary adjustments
to encourage the online shopping populace have been functioning and seen a significant rise in
revenues, while businesses which have been late to respond or have made lacklustre choices in
their response to evolving market have declined enormously. In the scenario of respective family
firms, this sort of risk may arise if they spend in project and market conditions vary considerably
owing to any global epidemic or natural catastrophe (Council and Britain, 2015).
Credit risk- By increasing customer credits, organisational credit risk could inflict. It can
also refer to credit risk of enterprise itself on its vendors. A business accepts credit risk by
providing its customers the means to buy financing, due to possibility that the customer can fail
to obtain reimbursement. A company must uphold its own loan obligations by ensuring that it
currently has adequate working capital to repay its overdue debts. Alternatively, the suppliers
could either avoid giving loan payments to business enterprise or even completely resist doing

enterprise with the entity. For example, when the respective family firm sells products on
credits to clients as well as their buyers fails to meet payments, they can experience such risk.
3. Summary of the financial information for business decisions.
Financial data serves a critical function in getting it simpler for companies to monitor
all financial outcomes. It is a system wherein the business records and discloses the parts of
financial data which go through and outs of its organisational processes, enabling both
organisational executives and external stakeholders and investors to evaluate the success of the
organisation and make knowledgeable decisions. Financial information serves to make strategic
decisions in the following way:
 It provides investors with a structure for determining and analyzing the fiscal sustainability of
securities offering firms.
 It helps lenders to assess the financial health, viability and credit risk of firms.
 It helps companies to make decisions about how to allocate scarce resources, together with its
related, financial reporting (Fu, Kraft and Zhang, 2012).
In addition to these features, financial information adds to the decision-making of these kinds as:
 Investing decisions- Different investors as well as potential investors employ fiscal information
to construct presumptions on a company's sustainability and financial creditworthiness. It allows
them to establish trade goals to determine not whether market value is fairly priced. Stockholders
do not even have information regarding the historical, current and future fiscal sustainability of
stocks and bonds, but through financial information this is possible to carry out a number of
analyses (Council, 2014).
 Lending decisions – While making lending sum, the lenders simply wants to determine how
much risk is involved which can be generated by evaluating the fiscal information of company.
When this magnitude of threat is determined through financial information, lenders would also
be allowed to evaluate how much it will be lent and with what cost to leverage.

ACTIVITY 2
1. Explanation of the purpose, structure and content of published accounts
In this portion of the project study, the financial statements and other relevant reports of
company Tesco plc have been considered as an illustration.
1. Purpose, structure and content of published accounts
In corporations, three types of accounts/reports are compiled, which are the income
statement, company's balance sheet and the cash flows statement. All these hasva a basic
purpose as well as structure as outlined below in following manner:
 Purpose of compiling income statement: The predominant intent of
framing income statement is to providing stakeholders with details on the
company's profit results and operating results, as well as to offer detailed insights
into company's internal evaluations between various businesses and sectors. The
purpose of a company is to produce profits. Business income statement indicates
whether or not corporation is making a profit. It pays for half of the company's
sales and deducts all its expenditures. What's taken is profit or losses.
Management must understand how their company works and whether it is
sustainable. Managers employ this to assess the gain and cost results
of businesses.
 Purpose of framing a balance sheet-The aim of framing balance sheet is to report
the financial state of the corporation from a specific point in period. Along with
the amounts invested in the business (common stock), the declaration shows
whatever the entity has (equity) or even how much they owes (capital).
When balance sheets are combined together over a number of previous years, this
information is more essential such that trends could be seen in various items
listed.
 Purpose of preparing Cash Flows Statement- The main intention
of preparing Cash Flows Statement is to include information of all cash in-flows,
cash payouts and net monetary variation resulting from the activities, acquisitions
and funding of a company during the year. The cash flow statement employs

cash-based accounting rather than accrual-based accounting that is being used by
other businesses on balance sheet and income statements. That's also critical
because a corporation may accumulate accounting profits but may not necessarily
collect cash. It might result in gains and taxes owed but would not have the means
to remain solvent. Cash inflows as well as cash outflows stated in cash
flows statement are subdivided into money outflows through operations,
investments and funding. These information offer insights into liquidity with
solvency, and also the capacity of companies to fulfill potential capital and
development requirements.
2. Interpretation of the financial accounts in these accounts
In finance and economics, a financial account is a part of the balance of trade of a
business that covers company charges or liabilities, especially with respect to financial assets.
Capital expenditure, investment spending and productive resources, divided by industry, are
elements of the financial account. As reported in the balance of payments of a corporation, non-
residents' complaints made on the financial resources of citizens are liabilities, while residents'
complaints levied towards non-residents are assets (Kunhibava, Ling and Ruslan, 2018).
The financial account is a reporting tool for company asset change of ownership and is
made up of two sub-accounts. Household ownership of foreign properties, including such
international deposit accounts and shares in foreign firms, is included in the first subaccount. The
following sub-account involves foreign ownership of domestic properties, such as the acquisition
by foreign interests of treasury securities or loans issued by foreign entities to financial
institutions. There are mentioned three types of financial accounts which are prepare every type
of company to analysis the profitability and financial performance of the business such as:
Income statement: One of three main financial statements used only to evaluate the profitability
and financial efficiency of a business is the income statement. The revenue statement
summarizes the revenues and expenditures produced out over life of the agreement by the
business. The income statement is often referred to as a statement of profit and loss (P&L),
statement of profits, statement of operations or statement of sales (Berns, Figueroa-Armijos, da
Motta Veiga and Dunne, 2020). An income statement helps enterprises make the decision either
through creating value, significantly reducing, or even both, they can create income. It also

demonstrates the efficacy of the methods set by the company at the starting of an accounting
statement.
Interpretation: Mostly on grounds of the company's financial statements mentioned, it can be
reported that net profit for 2018 improved to GBP 1206 million and to GBP 1322 million. The
reason behind the whole better productivity is due to higher sales and lower costs.
Balance sheet: At a specific moment in time, a balance sheet includes a statement of the assets ,
liabilities and shareholder equity of a company. In a single day, they give a brief overview of
what the organisation owns and owes, and also the money paid by its shareholders. At a specified
time, a balance sheet informs the value of a corporation, so they can properly recognize its
financial condition (Zhu and et.al, 2019). The balance sheet will also have past generations' data,
so a back-to - back assessment of 2 financial years can be done. This information can help to

monitor results and develop opportunities to design financial situation and then see where
improvements are needed.

Interpretation: Throughout the year 2018-19, the following balance sheet displays the value of
assets. Total assets were 44862 GBP million in 2018, which grew to 49047 GBP million. The
amount of liabilities declined in the year 2019, on the other hand.
Cash flow statement: A cash flow statement is a document of cash-based adjustments in
a firm's financial situation. It displays the net impact on money of all a company's business
activities over a span and describes the causes for adjustments in cash position between two
periods of time. This demonstrates the various streams (i.e. inflows) and activities (i.e. outflows)
of money and their net effect on the cash balance over a given period (Sarfraz and et.al, 2018).
Cash Flow statements are company's financial modify assumptions preparation and presentation
of financial resources characterized as cash equivalents. A cash flow statement is therefore a
document which offers a comprehensive description of the improvements in the cash balance of
a business over a given period by showing the cash inflows and outflows even by business and,
essentially, the net effect on the cash position throughout that time.

Interpretation: Any such statement suggests that, relative to 2018, the company's cash
flow in 2019 is not strong. The cash flow for operating activities was 2782 GBP million and
1966 GBP million for the year. Cash flows under investment activities are GBP 666 million and
GBP -1166 million. There was negative cash flow during the funding operation.

3. Calculation of financial ratios and how support strategic decision making
Profitability ratios:
Gross profit ratio: Gross profit/net sales*100
Data in GBP million except gross
profit ratio
2018 2019
Gross profit 3350 4144
Net sales 57491 63911
Calculation 3350/57491*100 4144/63911*100
Gross profit ratio 5.83% 6.48%
Net profit ratio: Net profit/Net sales*100
Data in GBP million except net
profit ratio
2018 2019
Net profit 1206 1322
Net sales 57491 63911
Calculation 1206/57491*100 1322/63911*100
Net profit ratio 2.09% 2.07%
Liquidity ratio:
Current ratio: Current assets/current liabilities
Data in GBP million except current
ratio
2018 2019
Current assets 13726 12668
Current liabilities 19238 20680
Calculation 13726/19238 12668/20680
Current ratio 0.71 times 0.61 times
Quick ratio: Quick assets/current liabilities

Data in GBP million except quick
ratio
2018 2019
Quick assets 11463 10051
Current liabilities 19238 20680
Calculation 11463/19238 10051/20680
Quick ratio 0.59 times 0.49 times
Ratio analysis helps in strategic decision making
Analysis of ratios helps to make decisions from of the data given in these financial
reports. Therefore, the proper use of accounting ratios helps management to communicate
information that is relevant and meaningful for decision-makers to make sure organizational
performance in the company. Financial accounting applies to decision-making in three primary
areas: it gives stakeholders with a measure of evaluation and interpretation of the economic
condition of equity approaches to engage. It allows creditors to determine enterprises' solvency,
stability, and financial health (Dollar, 2018). The financial ratio helps in understanding a
company's financial position and how quickly its accounts payable can be paid off by that
corporation. A high liquidity ratio is often more desirable than a smaller current ratio since it
illustrates that current debt payments can be made more efficiently by the business. These ratios
help to calculate the productivity levels of firms. Ratios such as, assets turnover, retention of
capital assets and commodity turnover ratio helps in strategic decision making. These ratios can
be compared with some other competitors of the same sector and are better managed than all the
others to help measure growing companies.
ACTIVITY 3
Distinguishes between long and short-term financial requirements for businesses
Basis Long-term financial
requirements
Short-term financial
requirements
Meaning The term Long-term financing
implies private loans or companies
Short-term lending involves a
corporation or second mortgage

with a time period longer than the
normal one to pay off the loan, a
time period of even more over one
year (van Bergen and et.al, 2019).
that has less than the normal time
period to pay back the loan, indeed
a year or even less than that. Short-
term funding is typically aligned
with the operating needs of
companies. This offers lower
skills, making it stronger-suited for
shifts in capital expenditures and
other continuing operating
expenses.
Financing
criteria
With the support of this grant,
organizations will collect funds in
significant quantities
Institutions can only collect funds
to a limited extent with the aid of
this funding.
Flexibility Long-term financing is not as
flexible as some other funding,
because it is not possible to modify
the amount of funds collected from
providers of this method of funding
as per requires. While long-term
debt can be paid sooner with the
assurance of redemption, pre -
payment charges could be levied.
Short-term financing is far more
flexible towards long-term
financing, as it is possible to
modify the amount of capital
collected utilizing sources of
revenue according to requirements.
Key sources The key source of long term
finance are debentures, equity etc.
The key source of short term
finance are bank loan, cash etc.
Fund raise Certain types of resources, such as
existing or fixed assets, may be
used to finance the fund's raising
from long-term sources.
Instead of being used to buy assets
including such construction and
property, buildings, automobiles,
manufacturing equipment, etc., the
funds generated from short-term
funding should be used to increase
the level of current assets and cash

reserves (Grilli, 2019).
Comparing the sources of long and short term finance for businesses
Basis Long-term financial sources Short-term financial sources
Types of sources Examples of long-term sources
of funding include equity, term
loans, and venture capital.
Long-term funding sources
could be either related to the
company's equity (as is the
case for equity or venture
capital) or to a mortgage (term
loans) or to a combination of
both.
Short-term sources of finance are:-
1. Trade Credit 2. Accruals 3.
Deferred Income 4. Commercial
Paper (CPs) 5. Public Deposits 6.
Inter-Corporate Deposits (ICDs) 7.
Commercial Banks 8. Factoring 9.
Installment Credit.
Risk It is not as risky as other forms
of funding, as it is
1. The interest rate on a long-
term loan is secure.
2. This is not affected as much
by the current downturn
(Pellegrino, Costantino and
Tauro, 2019).
This entails more hazards than
other funding approaches, such as,
1. The interest rate for short term
loans is unpredictable.
2. It is possible to exit the
prolonged downturn without loan
repayments and it could lead to
business failure.
Duration Long term of source of finance
is taken for more than one
year.
People take short term sources for
less than one year.
Agreements In the long term, loan
agreements comprise of some
of these limited clauses that
restrict the company's certain
Loan term arrangements are not as
stringent as long-term loans for
short-term loans.

acts.
Examination of cash flow management techniques and an assessment of why the management of
cash flow is so important
There are mentioned various types of cash flow techniques which are using by the
accountant of the company at the time of development such as:
Imposing customer to spend more- A cash-flow management technique is to get
customers to pay more. This can take on many forms. The best solution is to include vendor
benefits, where 2/10, Net 30 terms, if the receipt is issued within 10 days, would provide a 2
percent reduction for customers. Either way, the full amount is due in 30 days. This will be an
attractive proposition for a company's consumers, as it allows them to make the difference in ten
days with a 73 percent APR simply by paying their debts faster.
Trying to cut undesired expenses- Another option is to postpone payouts if customers
do not pay earlier. Depending on the employee, the approach can take a variety of forms.
Knowledge acquisition may begin to use lower-cost goods in order to deliver the same good or
service, because a service company may choose to spend a little time and do the same work.
Businesses may either start consuming existing supply until ordering expensive goods, or hire
part-time or contract employees to replace full-time employees (Tykvová, 2018).
Rising margin- The margins will also be strengthened with a business spin-off with
more money that could be used to fund expenses. The only two different ways a business can
increase its productivity are by increasing what it costs or lowering the cost of delivering the
product or service. All of these will be feasible for those companies. Even so, increased wages is
a realistic prospect for businesses with a strong demand for their products or services, or with a
specific product, offer, or pricing policy that is not open to rivals. Any increase in prices will
have to be carefully structured to completely alienate customers.
Importance of management of cash flow
The most crucial element of an organisation is cash flow management. A stable cash flow
means the organisation can pay correct wages and have resources for the company's growth and

advancement. For having to pay supplier bills and rent on time, funds are also accessible.
Appropriate cash management consideration and procedures may help prevent the excessive use
of credit or startling realizations that cannot be paid upfront by staff, sub consultants, and rent. It
can also lead to major incentives to recognize and promote investment more from the benefit are
receiving. Cash management systems and procedures will free up resources for big businesses,
enabling further resources to be spent on innovative ideas and business creation.
A good cash flow guarantees that the company enjoys secure and successful cash flows.
Bank would like to borrow to those borrowers with loans. Not to mention, the quality of cash
flow also refers to the credit score assigned to a corporation. Companies with an excellent credit
rating will be in a better position to raise funds or obtain international assistance from a free
market. It is extraordinary how mere cash management at the organizational level can be
exploited to achieve such enormous advantages. An effective plan to monitor cash flow ensures
that finances are still at the discretion of the manager. A company would always be in a position
to handle the vendor obligations on time by adequately monitoring the accounts receivables
(Liedong and Rajwani, 2018).
ACTIVITY 4
Different ownership structure and compare and contrast of roles & accountability of owners and
managers in making decision
One of the most significant practical choices of the company is the legal framework when
establishing a corporation. Each functional structure has its own advantages and disadvantages
that are influenced by the requirements of the company, the amount of employers and tenants,
the market, and other factors.
Sole proprietorship: The easiest kind of company is a single proprietorship. The sole
proprietorships are limited corporations with the owner having one employee. It is generally easy
to establish a sole proprietorship. It does, in reality, require special intervention in several
countries. It is probably appropriate to do self employed or self reliant operate through own
address to establish a sole proprietor. Simplification of creation and taxation are two big
advantages of formulating company as a sole proprietorship. Because there are generally no

structured measures needed to form a sole proprietorship, no costs are involved. Also, sole
proprietorship shareholders qualify the earnings of the business on their personal income tax
returns.
Role and responsibilities of owner: It is the obligation of the sole property to formulate
the company's performance and to waypoints the prospect. The investor points out the goals that
can be achieved by the corporation, which are also aligned with the owners' own priorities.
Consequently, the company shall draft up the plan necessary to achieve these purposes (Dörry
and Schulz, 2018).
Partnership: They may find an agreement when two or more individuals open a
company in partnership. So many forms of collaborations exist, namely common partnerships,
limited partnerships, and partnerships with limited liability. Furthermore, there are certain
aspects of alliances in joint ventures. Depending about which intimate relationship is created, the
quantity of funds invested, and control exercised over the company, and legal responsibility
differs. In order to form a relationship, most countries allow partners to enroll the company with
the secretary general. In a partnership agreement, which would be a agreement that discusses the
major operations of the organization, namely how it will be managed, how revenues are divided,
about what to do in the event of breakup, it is also necessary for the participants to formalize
their partnership.
Role and responsibilities of owner: For keeping customer information accurate,
retaining funds in order, and filing personal income taxes, both partners are necessary. In
addition, if the management roles of the limited partners have been set out in advance in a
partnership agreement, the individual people are legally required to fulfill those roles.
Limited company: An agency that its members set action to raise their organization. A
limited business is a legal entity. Of course, in the context that we generally comprehend it, a
business is not an individual. What the term implies is that the law considers a limited
partnership should have the same legal status as an entity.
Role and responsibility of owner: The role of owner is unlimited and liable for each
activity in regard of the business.

Evaluation of methods for appraising strategic capital or investment projects
Payback period- The payback period refers to the time it takes to recover the cost of the
investment. In straightforward word, the required to recover the cost of duration that a break-
even point has been achieved through investing. The investment competitiveness is inversely
proportional to its payback period. More lucrative investment means narrower paybacks.
Merits
2. By way of a payback strategy, risk premium can be calculated.
3. This technique is more efficient.
4. The formula for calculating is better and easier than just about any other technique for
assessment.
5. This is an idea that is very well clarified.
Demerits
 This prevents the rate of cash inflows during the payback process.
 It eliminates the cash flow provided at the end of reporting period and therefore the
project's total profit.
 It contradicts the worth of income in period.
 In short-term ventures, it triggers excessive-investment (Ante, Sandner and Fiedler,
2018).
Net present value- Net present value (NPV) is the lifelong estimation of a company calculated
to the real value of all future (favorable and unfavorable) cash flows. NPV evaluation is an
accepted payment methodology that is widely used in fiscal reporting to measure the value of a
company, investment security, technical consulting, new strategy, cost reduction initiative, and
anything that including cash flow.
Merits
 This method treats the cash flows of all periods.
 It takes into account the time value factor that makes the process more accurate.
Demerits

 As this takes much more time and cost, it is not an effective strategy.
 This is largely based on models.
CONCLUSION
On the premise of the aforementioned project study, it can be inferred that finance
is crucial factor for executives to make correct decisions. This is conceivable due to a variety of
methods, like accounting ratios, evaluation of financial reports. The study concludes
on importance of different financial information to effective decision-making. Along with the
financial results of the organisation called Paddy, it's been analyzed in depth. The other section
of the study of concludes that cash-flows management is significant for organizations to maintain
to make sure the appropriate availability of funds. Extensive data information regarding capital
investment valuation strategies, such as NPV, payback duration, etc., is given at end of the study.
At the ending of the study, corporate governance including ownership configurations are
discussed.

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