Managing Financial Resources Decisions

This report provides a comprehensive analysis of financial resource management and decision-making. It covers various aspects, including sources of finance (internal and external), financial planning and its importance (budgeting, implications of finance inadequacy, and overtrading), assessment of decisions by different stakeholders (partners, venture capitalists, and finance brokers), cash budget analysis, unit cost calculation, investment techniques (Net Present Value, Internal Rate of Return, and Payback Period), and interpretation of financial statements through ratio analysis (acid test ratio and asset turnover ratio). The report uses a case study of Clariton Antiques Limited to illustrate the concepts and techniques discussed. The analysis includes detailed calculations and interpretations of financial data, demonstrating the application of financial management principles in real-world scenarios. The conclusion summarizes the key findings and emphasizes the importance of financial planning for organizational success.

MANAGING FINANCIAL RESOURCES AND DECISIONS
STUDENT NAME:
STUDENT ID:
UNIVERSITY:

Table of Contents
Introduction......................................................................................................................................4
Task 1...............................................................................................................................................4
1.1 Sources of finance......................................................................................................................4
1.2 Assessment................................................................................................................................5
Task 2...............................................................................................................................................6
2.1 Analysis.....................................................................................................................................6
a) Dividends................................................................................................................................7
2.2 Financial Planning and its importance:......................................................................................7
2.3 Assessment report on various decisions on:..............................................................................9
Task 3.............................................................................................................................................12
3.1 Cash budget and its analysis:...................................................................................................12
3.2 Calculation of unit cost calculation:........................................................................................13
3.3 Investment techniques and its review:.....................................................................................14
Task 4.............................................................................................................................................17
4.1 Important Components of financial statements:......................................................................17
4.2 Balance Sheet format Comparison:.........................................................................................18
4.3 Interpretations via ratios calculations:.....................................................................................18
Conclusion:....................................................................................................................................19
Reference List:...............................................................................................................................20

Introduction:
Present as well as future prospects of financial positions of any one person or an entire
organization can ideally be evaluated using a Financial Plan. Several important points are
covered by such a plan. The main areas such as allocation as well as details of the assets,
planning for retirement, main liabilities, and goals of investment, estate, and taxation are covered
in details in the aforementioned plan. Various statements are used for the development of a
proper and well furnished documented record for the same. The main company chosen for study
and review is Clariton Antiques limited. The headquarters of the chosen firm is situated in
London, the capital city of England and a prominent city of the United Kingdom. Herein, this
study is about the creation of a detailed monetary plan as well as a proper analytical evaluation
of the operations that have been used.
Task 1
1.1 Sources of finance
There are several sources that can be used in this context. Availability of said sources is adequate
for single people as well as entire financial entities. They are:
a) Business that is unincorporated
Businesses that are unincorporated are more commonly known as an unincorporated business
for the sake of convenience. The businesses that do not have separate legal identities from those
that own them are called unincorporated businesses.
According to Bishop (2015, p.89), main businesses that are covered in this type are ones that are
smaller in size in comparison to others. Though such businesses are tinier in size, the main
sources of funding that they have include partners or capital of the proprietor. Often enough,
such sources are the only sources of funding. Funding for day to day working capital necessity
and expansion of capital is a major necessity that is served by small loans as well.
b) Business that is incorporated
Businesses that offer several perks, as well as benefits of a single partnership, including
protection of liability and extra deduction of taxes, are termed as incorporated businesses.
Raising capital is through sales of company shares is definitely possible through the formation of

one's own corporation (Cebula and Clark, 2014, p.98). In direct contrast to their unincorporated
counterparts, they do have a legal identity distinct and separate from their owners and leaders.
For the chosen financial entity, funds are made available by raising them from the public using
equities. One main benefit of this method is the fact that major capital can be raised at just one
go. Equity and its financing is ideally the main route for an achievement of the venture capital.
Some of the shares are not made public in any shape or form, with their sole responsibility being
raising required capital for individual investors that can include people with close personal
connections to owners such as family and friends (Gopalan et al. 2014, p.1108). These kinds of
investments are visibly attractive to them, and chances of success in this regard are increased
manifold.
1.2 Assessment
Main sources are generally divided into two broad categories:
a) Internal sources
Internal sources are those that are generated by sources that are present in the financial entity.
The main advantage that these sources accord is the amount of savings generated in terms of
interest rate cost (Henning, 2015, p.25). Effective management of time is also a very creditable
achievement. This directly leads to proper figuring out of availability with regards to
requirement. Major sources such as asset selling that is among the last resorts available to any
company are generally not required to be used except in worst case scenarios.
Malhotra et al. (2014, p.95) state that the Main disadvantages of someone using their own money
in these sorts of ventures include a lack of mentoring that those who fund their own businesses
have to face. Others generally have investors, as well as capitalists; provide effective guidance in
this regard. These benefits are not available to the self-funding individuals and corporate entities.
Many times, using one’s own money leads to a strain in the personal financial state.
b) External sources
Sources that are external are those that organizations manage to obtain from markets, that is,
mainly from out of the company. This type generally meets long-term goals and objectives. The
main purpose and reason behind the usage of these sources are lack of money or capital within
the financial organization (McDonnell, 2014, p.725). Shares, commercial papers, and
commercial loans are great examples of the aforementioned.

1.3 Evaluation
The stated financial entity has been trying to focus on the opening of another branch, which has
the potential of increasing its overall sales of operation. The main requirement according to the
developed plans has been observed to be £0.500 million. Internal sources are not enough to
satisfy all the requirements and necessities.
Since internal sources are not enough, in this case, it is important that the chosen firm uses
external sources for appropriate funding of its overall capital requirement (Prete et al. 2016,
p.91). Using such sources has the potential to provide appropriate funding that will last for a
longer duration. Long term solution to the problem of lack of funding is thus solved using the
aforementioned method.
Task 2
2.1 Analysis
Particulars20142015ChangesObservations
Dividends£8000£8000Negligible
There has been a
lack of dividends
in the observed
one year period
Interest18.76 %18.08%0.68%
A small fall of
0.68% in the
interest rate has
been observed
Tax18.76 %18.08%0.68%
Taxation expense
has decreased
slightly over the
observed one

period as the firm
is able to manage
its funding well
Table 1: Observations
(Source: self developed)
a) Dividends
According to Storey (2016, p.79), a dividend is a term that describes the amount of money that a
financial entity pays to its shareholders out of its reserves of profit. It is observed that the chosen
company has not made any changes in the dividend amount over the observed one year period.
The main conclusion drawn from this is that the firm has not managed a noticeable growth over
this period.
b) Interest
The lack of a significant growth over the observed period of time has led to the chosen firm
negotiating decreasing of an interest rate of loans, in order to better conserve its resources. This
shows its resolve of aiming for a potential growth in the nearby future.
c) Tax
Similar to the interest rate, taxation rate has decreased due to lack of significant increase in
profits and dividends. It is hoped that decreasing taxation rate conserves its resources in a more
efficient manner.
2.2 Financial Planning and its importance:
There are various uses of financial planning as it creates a huge impact on important matters of
an enterprise. In addition to enterprises of any size, its importance can be easily seen in portfolios
of an individual. The benefits of planning can be easily seen in forms such as:
a) Budgeting:

Budgets are those statements that help in visualizing the performance of business. It is ideally
presented in table format with help of figures. On a general basis, a budget helps in estimating
expenses in reference with incomes which firm at present bears or expects in future. Above
chosen entity, if prepares a budget as per observations acquired by Finance Manager of the
corporation can help firmly in various ways. First and the foremost advantage it can experience
is control of operations. According to Bruton et al. (2015, p.15) have clearly mentioned that
Control is acquired as managers take decisions upon variance analysis. For example, from
figures of income statements, it can be clearly seen that in 2015 operating expenses were higher
which declined in 2016. However, sales cost have increased and finance costs remained stagnant.
Therefore, these aspects need to be covered well in budget.
Secondly, the budget helps in target setting as per department divisions. This can help firmly in
sorting well areas which it lacks behind and areas in which it can improve (Carbó‐Valverde et al.
2016, p.119). Thirdly, it helps in measuring performances as by favourable variance and with the
present status of a business. Lastly budget needs to be monitored well in the context of achieving
desired results.
There can be various repercussions an entity can face if it fails to prepare an ideal budget, such
as over expenses, a performance of firms cannot be measured properly. Further, entities with the
lack of budget even fail to meet deadlines and fulfill their tasks.
b) Implications as failure in maintaining finance inadequacy:
There might be various forms of allegations an entity might face if it fails to maintain inadequacy
in financial aspects. Finance adequacy helps in integrating of various resources in reference with
expenses or necessities of the firm. In order to make profit and escalation of growth continuously
a successful financial plan is acquired. Collins et al. (2014, p.185) have well stated that financial
adequacy helps in the sorting of both surplus areas along with deficit areas. For example,
discounted in cash flows helps in identification of investment areas which can help in deriving
better yield. Further, there are certain investment appraisal techniques that are very well covered
in the adequacy of finance such as users ease, degree acquired in accuracy terms. Measurements
of cash flow such as factors affecting, interest rates all are adequately required by an entity.
c) Overtrading:

Trading on general terms helps in maximizing profits in a firm. It helps in expanding capital.
With capital expansion operations performed by entities can be done well. However, if there is
overtrading it can lead various overturn effects. On simpler terms overtrading refers to
engagement of various business activities apart from resources available and funds acquired from
the capital market. Over trading ideally, happens when there are too many operations performed
by a corporation. It results in increased interest expenses which ultimately lowers profit of
company (Fuchs et al. 2014, p.185). Mainly there is a shortage of working capital which firm
faces as one of the biggest drawbacks. Further, increased in borrowings leads in liquidity
problems in books of the company. In order to detect overtrading or under trading there are
various ratios that can help in figuring out if any exist infirm. Ratios such as Current, Quick
which ultimately helps in identifying unexpected changes along with any seasonal demands if an
enterprise has faced or expects in near future.
2.3 Assessment report on various decisions on:
Various important decisions are taken by parties that help in taking important financial decisions
in respect with a company. In addition to monetary decisions, there are certain important areas
such operations, sales, marketing which requires proper assessment that is based on important
credentials. Some parties require referring these credentials in order to derive certain
conclusions. The parties that need to take major financing decisions upon provided information:
The stakeholders of the organization are very crucial to all organizations. The employees, the
shareholders, the customers and the like are the important stakeholders. The organizational
operations are carried out through the involvement of all the stakeholders related to any
organization. The stakeholders help the organization in incorporating all the organizational
objectives and goals in relation to the target market.
a) Partners:
Partners of an entity every there and then require taking various important decision in sequence
with the smooth functioning of business. Partners are those folks that invest capital in the firm
which is the major backbone of a company. According to Gigler et al. (2014, p.375) mentioned
that partners first preference is reviewing of all reports that are made by internal auditors. These
are those reports that are only prepared for management or board. These reports are not presented

to the public. After reviewing these reports partners are easily able to identify frauds that take
place within a company. Further inactive partners, as they are not involved with operations of
business access only balance sheet, income statement.
Those individuals who are willing to become partners of above-chosen entity might address
various kinds of information. The important ones such as customer or client list of the company.
The potential capacity of a firm which can easily evaluate very well by sales and profit acquired
and further by comparing with previous years. Further, major shareholders of a company are
even seen as it affects the image of an enterprise. Workforce strength also lays an important
impact in functioning; therefore, numbers of employees are seen. Clariton Antiques as they are
only selling only stolen antiques, therefore its litigation history is very well checked by partners.
b) Venture Capitalist:
We Capital limited a venture capitalist entity which has approached above stated firm for
financing. This entity has shown a keen interest in operations of the above stated organization as
by becoming partners in the stake of 20% of profits in return on investment. Therefore, in order
to take this decision venture providing entity accesses certain information such as the potential of
the enterprise. Organizations presently, its production figures which clearly describes input as
well as output. Goldstein and Sapra (2014, p45) have clearly stated that future expectations of an
enterprise are also clearly seen which can be reflected easily through growth plan, budgets. Even
projects are verified which the corporation is willing to invest is looked. The potential capacity
of investment in projects can be ensured through various methods. The most ideal method is Net
Present Value method.
b) Finance broker:
With activities performed by brokers also lead to various changes such as there is an increase in
current assets like cash. Even there is an increase in non current liability of business.
In above stated organization, finance broker which in return of investment has charged some
fees. In return of capital investment of (£) 500000 the broker has made some charges as
brokerage fees.
Finance Broker Capital 500000 -500000
(£) years (£)
Cumulative
amount (£)

initial 500000 1 115000 -385000
100000 2 115000 -270000
5000 3 115000 -155000
10000 4 115000 -40000
total 115000 5 115000 75000
6 115000 190000
7 115000 305000
8 115000 420000
9 115000 535000
10 115000 650000
Table 2: Calculations of impact of investment made by finance broker
(Source: self developed)
From above table it can be clearly seen that the charges made by broke in respect with capital
stake. Brokerage fees comprise of 1 % on (£) 500000 which comes around (£) 5000. In addition
with fees there is also an interest charged as APR on capital amount which comes around (£)
10000. Therefore, these charges reduce the profits of company as it increases liability along with
expenses.
Pay Back of
investment
years
Amoun
t (£)
Cumulativ
e amount
(£)
1 115000 -385000
2 115000 -270000
3 115000 -155000
4 115000 -40000
5 115000 75000
6 115000 190000
7 115000 305000
8 115000 420000

9 115000 535000
10 115000 650000
payback
period
4.6521
7
Table 3: Payback of investment done
(Source: self developed)
From above table it can be clearly seen that on investment made the entity can expect profit from
above investment since 4.65 years. Till 4.65 years this date organization is unable to make profits
and incur losses.
Task 3
3.1 Cash budget and its analysis:
Cash flow refers to an ideal flow of cash that is held on day to day basis with in organization.
There are inflows along with outflows that are very well covered with in operations of firm.
Inflows are basically those payments which a firm receives from its customers. On other hand
outflows are those payments which are done by business.
Therefore Cash flow is calculated by using formula:
Net flow = Cash inflow – Outflow of cash incurred in business.
Cash budget helps in various kinds of forecast .Forecasts such as inflows that is acquired through
sales done to customers. Other sources such as payments received from debtors lie in inflows of
business (Herndon et al. 2014, p.269).Outflows include different payments such as rent,
overhead, wages, salaries, operating expenses. Raw material expenses and variable cost expenses
all are categorized as cash outflow.
There are various important aspects which can be clearly observed as in inflow. In an ideal cash
flow budget which clearly describes sales forecast of organization, outflows made by business in
reference with sales.
Particular
s
Sales
forecast (£)
Payments
made(£)
Recovery
made(£)

January 300000 807250 -397250
February 450000 137250 -84500
March 600000 1197250 -681750
April 300000 437250 -819000
May 300000 227250 -746250
June 75000 219750 -891000
total 2025000 3026000 -891000
Table 4: Cash Flow Analysis
(Source: self developed)
In above table, it can be clearly seen that the company has forecasted it sales from January till
June. In respect with sales, there are payments set accordingly. The payments are easily reflected
for each month. In January the sum total of payments were equal to £ 807250; however recovery
in terms of expenses comes around as £ (397250). This amount is arrived as on month of
January, the above stated entity already enclosed it cash in hand amount equal to£ 110000.
Further, at the end it can be easily seen that in month of June there is a deficit expected by
business. The deficit in terms of recovery done against expenses comes around £ (891000).
Therefore, as deficiency is concerned it is advisable for organization to change its inventory
collection methods .At present , the organization is following collection method of five percent
in first month then eighty percent in next month .Lastly leftover fifteen percent in the following
month. This strategy needs to be changed also management needs to implement certain strategies
in order to make all its recoveries soon.
3.2 Calculation of unit cost calculation:
Unit costs involve calculation of all costs that are inbuilt for the production.
Total Costs = Fixed Costs +Variable Costs.
Product Units (1) Variable
Cost per
unit(2)
Total
Variable Cost
( 1*2)
A1 15 27 405
B2 22 38 836

C3 28 45 1260
Total 65 110 2501
Fixed costs 1000000
Total cost 1002501
Cost of
each unit 15423.09231
Table 5: Unit Cost and its overall calculation
(Source: self developed)
From above table, it can be clearly seen that unit costs are ideally calculated by summing up of
total fixed cost and variable costs. In above table on calculating up of all fixed cost expense
comes around £ 1000000. Total Variables fixed cost comes around £ 2501 for all total units.
Hence, total number of units produced is 65 units. Therefore, total cost of each unit comes
around £15423.092.
3.3 Investment techniques and its review:
Net present value:
It is one of the investment method used by many analyst as it helps in analyzing present value
method, which calculates present value of investment.
Investment1
(cost £ )
Investment
2 (cost £ )
Initial cost
incurred -8.6 4.4
Cash
inflows
Year 1 1.6 0.8
Year 2 2.8 1.4
Year 3 3.4 2
Year 4 3.6 2.4
Year 5 4 2.3

Year 6 4.2 2.6
Average
return
assumed 7%
Net present
value $6.09 $12.34
Table 6: NPV Method
(Source: self developed)
From above table, we can clearly see that on basis of rate of return assumed 7%. First
investment NPV comes around $6.09 whereas for another group comes around $12.34.
Therefore, as per this method second investment must be chosen.
Internal rate of return:
Internal rate of return is one of investment method as it helps in measuring potential investments
and expected return. It helps in proper analyses as desired before investments. It helps in
identifying exact appropriate results which is desired by financial analyst.
A B
Cost
(£ )
cumulati
ve
amount
Cost
(£ )
cumulati
ve
-8.6 -8.6 -4.4 -4.4
1.6 -7 0.8 -3.6
2.8 -4.2
$
1.40 -2.2
3.4 -0.8 2 -0.2
3.6 2.8 2.4 2.2
4 6.8 2.3 4.5
4.2 11 2.6 7.1

Tacit
IRR 7%
ROR 0% 30%
Table 7: Internal Rate of return
(Source: self developed)
On viewing above table, results obtained clearly shows that Investment B is more appropriate in
terms of rate of return obtained. There is huge gap that can be clearly seen in both categories of
investment .Therefore, category B must be considered further for investment.
Pay back tenure:
Pay back tenure on general context, is time period that helps in estimating out period of recovery
of profits. It helps in analyzing costs of investment and from which period particular investment
can start earning profits. It is considered as one of the most important aspect as it says till which
tenure company must patiently hold on with investment.
Group
A
Group
B
Cost (£
)
cumulative
amount
Cost (£
) cumulative
-8.6 -8.6 -4.4 -4.4
1.6 -7 0.8 -3.6
2.8 -4.2 1.40 -2.2
3.4 -0.8 2 -0.2
3.6 2.8 2.4 2.2
4 6.8 2.3 4.5
4.2 11 2.6 7.1
Pay back
years
3.22222
2 3.083333
Table 8: Payback period calculation

(Source: self developed)
After viewing above table pay back tenure from Group A comes around 3.22 years. On other
hand payback of Group B comes approximately around 3.08 years.
Task 4
4.1 Important Components of financial statements:
Income Statement:
An income statement on general context refers to those statements which provide help in
evaluating performance of business. Main objective of presenting these statements are to reflect
well income along with expenses of current period (White et al. 2013, p.924). It helps in figuring
out expenses well which reflects areas where above stated entity cash is dispersed. Gupta et al.
(2014, p.657) have clearly It even helps in assessment of various decisions as it embroils various
figures such as gross profit, taxes paid by firm, earnings that are acquired before interest. In
depth it covers both operating expenses incurred by firm and simultaneously all non-operating
expenses.
Cash flows:
Cash flows help in forecasting various important conclusions such as identification of shortfall
periods (Hannam et al. 2015, p.985). Even surplus periods in point of reference with different
expenses are calculated in sequence with outlay business incorporates. Cash flows helps in
segregation of expenses along with incomes which even helps in estimating correct position of
firm.
Statement reflecting equity changes along with gains:
Change reflects retained earnings and in addition with changes in capital reserves.They reflects
changes made in equities. These changes help in showing clear picture to shareholders which
easily can judge whether to invest in firm or not.
Financial position and its assertion:
Position of entity is very easily assumed through assessment of financial statements that are very
well presented to public. The important ones are balance sheet, profit along with loss expressing
statements (Lee et al.2015, p.375).Main attributes that are reflected are Assets, Liabilities,
Equities and Sales.

Relevant notes:
Notes are those statements that are usually situated below statements or accounts prepared (Starr,
2014, p.19). On ideal terms they are assumptions that are assumed by finance manager or
accounts manager of company.
4.2 Balance Sheet format Comparison:
The major difference is usually the outlay in format. Above corporation has followed ideal
method which shows use of separate columns which shows assets separately along with
liabilities. On other hand in sole proprietorship firm there is usually one column used. Philippon
and Reshef, (2013, p.85) have clearly mentioned that in sole proprietorship since limited capital
is there in comparison with public limited companies. Therefore capital division is done
accordingly.
4.3 Interpretations via ratios calculations:
Ratios are ideally calculated as they help in interpreting correct results as acid test ratio helps in
finding out cash relation in reference with liabilities.
year
2015 year 2016
Current assets 105 71
Inventories 47 46
liabilities 317 309
Acid test and ratio
0.18296
5
0.0809061
5
Table 9: Calculation of acid test ratio
(Source: self developed)
After analyzing above table well this is based on figures obtained from balance sheet. In 2015
the ratio comes around 0.18 and in 2016 it comes around 0.08. Ideally preferable ratio is 1:1 as it
completely reflects cash above entity owns in respect with liabilities (Robinson and Sensoy,
2016, p.525).

Ratios
Year
2015 Year2016
Sales 1220 1255
net assets 785 785
Assets turn over
1.5541
4
1.5987261
1
Table 10: Calculation of asset turnover ratio
(Source: self developed)
Estimating above table it is found that asset turn over in 2015 comes around 1.55 whereas in
2016 comes around 1.59.
Conclusion:
It is easily concluded that financial planning has various important aspects that are very well
covered in assignment. It helps in overall operations along with estimation of budgets that is
important tool used for daily purposes. Further it helps in estimating resources, which leads to
capital expansion and growth of above stated entity. With help of investment methods applied
helps in evaluating best options and even ratios calculations help in estimating correct position of
entity. Net present, Pay back tenure, internal rate of return all in collaboration helps in
assortment of best investment method which is profitable for entities. Ratios such as quick acid
help in identifying cash present in balance sheet in respect with liabilities of firm. Asset turnover
is a ratio helps in analyzing assets and its relevance with liabilities. It is concluded that all
aspects of financial planning are very well covered.

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