PGBM145: Management Accounting and Finance Report Analysis

This report provides a comprehensive analysis of management accounting and finance, focusing on the case study of Alpha Ltd. It begins with a critical evaluation of IFRS adoption, emphasizing its role in promoting accounting practice harmonization and transparency. The report then presents a simplified balance sheet and calculates working capital, working capital needs, and net cash for the years 2018 and 2019. A common size income statement is computed for the period of 2017-2020. The report further analyzes these statements to assess the company's performance, including the computation and analysis of profitability ratios to gain insights into efficiency. The analysis includes discussion of cash budgets and factors for policy changes. The report concludes with an overview of budgeting practices and their significance in management accounting. This assignment demonstrates the application of key financial statement and management accounting concepts for decision-making.

MANAGEMENT
ACCOUNTING AND
FINANCE FOR DECISION
MAKING

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................3
QUESTION 1...................................................................................................................................3
1. Critical evaluation of IFRS adoption from perspective of promoting accounting practice
harmonization..............................................................................................................................3
2. Simplified balance sheet with three sub heading....................................................................5
3. Computation of working capital, working capital need and net cash.....................................6
4. Computation of the common size income statement for 2017- 2020.....................................7
5. Analysis of the statements prepared ad critical evaluation of the performance of the
company......................................................................................................................................7
6. Computation of the profitability ratios and analysis of it from perspective of gaining insight
into efficiency.............................................................................................................................8
QUESTION 2...................................................................................................................................9
(1)................................................................................................................................................9
(2)..............................................................................................................................................12
(3)..............................................................................................................................................13
CONCLUSION..............................................................................................................................16
REFERENCES..............................................................................................................................17

INTRODUCTION
Management accounting is a practice of depicting the financial position of the business
entity. This report has discussed about the concept of the management accounting and the
financial reputing of the business entity. This report is based on the case study of the Alpha Ltd
Company. This project will discuss about the management accounting concepts the factors or
aspects related to the financial reporting practices. Henceforth, report will emphasis over the
international financial reporting standards associated with the business entity. Balance sheet will
also project under this project. Working capital evaluation will also depict under this project.
Common size income statement will depict under this project. Certain profitability ratios will
also determine to understand the business performance of the organisation. Furthermore, project
will discuss about the ash budget of the company. What are the factors company should adopt
into consideration before making any change in the policy of the business entity. Various aspects
about the budgeting and its practices will be discussed under this project.
QUESTION 1
1. Critical evaluation of IFRS adoption from perspective of promoting accounting practice
harmonization
IFRS that is International Financial Reporting Standard is being defined as the different
set of accounting rules and standards which are used in order to determine the fact that how the
accounting event must be reported (Ameen, Ahmed and Abd Hafez, 2018). These are the
standards which are being used and applicable by all the companies all over the world that is at
international level. The IFRS is aimed to make the financial statements in accordance with the
guidelines being provided by the board and it must consistent and comparable. The adoption to
the IFRS is very important for promoting the accounting practices harmonization. This is
particularly because of the reason that if all the business at the international level will be
complying with same standards then comparison between the different companies belonging to
different country will be helpful. The reason underlying this fact is that when the companies will
be using the same standard then they will be having a common base for the comparison as all the
business are using the same method of accounting. In case there will be difference in the use of
the accounting practices then the comparison of the companies will not be possible. The reason

behind this fact is that when the companies will be having different basis of accounting then
there might be confusion as how to compare the financial statement of two different companies
following different standards.
The major aim of issue in the IFRS is to have transparency within the financial
information of the company. The reason underlying this fact is that when all the companies will
be following same standards and methods of making the financial statements, then there will be
more transparency. The reason underlying this fact is that in all the different companies will be
having same approach of recording the same items then it will be more transparent and
convenient (Rikhardsson and Yigitbasioglu, 2018). For instance if provision of bad debt is to be
made on the net debtors then all the companies complying with the IFRS will be making the
provision for bad debt on the amount of debtors only. In addition to this when the IFRS is being
followed then this results in effective and efficient making of the financial statements will stop
the reason and the line this fact is that the IFRS has issued guidelines for recording every
transaction in the specified manner. Hence when all the different companies and undertake the
use of IFRS standards than this provides a consistency of the financial statements (KÖSE and
AĞDENİZ, 2019). The consistency in the financial statements refers to as the similarity of
making the financial statements in all the different companies belonging to different countries is
same. Hence when there will be consistency within the financial statements then there will be
easier comparability within the financial statements of different companies.
With help of the compliance with international financial reporting standards that is IFRS
there is promotion of accounting practices harmonization. The reason underlying these factors
that when the company's comply with the IFRS then this result in effective accounting practices
harmonization. This is particularly because of the reason that I'm all the companies I'm
complying with IFRS follows the same accounting practices. Hence this results in effective
harmonization of accounting practices as per the IFRS which provides a common base of
comparison for the people. This compliance with IFRS and accounting practices harmonization
is very helpful for them investors. The reason behind this fact is that when an investor decides to
invest within the company then they can easily compare the financial stability and accountability
of the different companies on a common basis. Hence when there is a common basis then the
comparison is very easier and understandable. Moreover this will assist investors in easily
comparing the financial position of different companies. Hence this will help the investor in

deciding the fact that which company will be more beneficial to invest and earn more of the
profits.
Along with this the compliance with the IFRS is also a system for the different
companies as well. The reason underline this fact is that for the effective working and operation
of the business it is very essential for the companies to maintain their operational efficiency and
profitability. Hence in case when the financial statements are being prepared on some common
basis that is the compliance with IFRS then this will assist the company's in comparing the
performance with other competitors is well (Abdusalomova, 2020). This comparison in case of
the same accounting standard compliance is very clear and effective. The reason behind this fact
is that when the companies follow the same standards for making the financial statements then
the result of the financial position is also same. Hence this will provide a common basis for
comparison of performance of one company with that of the competitor.
For instance the IFRS 13 states that the fair value measurement must be applied for
disclosing the properties and the values. Now in case if some of the companies comply with the
fair value measurement and other companies comply with the book value measurement. Then
this will develop a difference between the values of the asset (IFRS 13- Fair Value
Measurement, 2021). Hence in this case if all the companies will be complying with IFRS 13
that is fair value measurement and this will provide a much better and effective values of the
asset and also will provide a good basis for comparison of the values.
In addition to this the IFRS provides a high quality standard for making the financial
statements. Hence this provides a better and effective application of the standards in order to
prepare the financial statements. Thus, it can be stated that if the IFRS standards will be followed
by the companies then this will be providing better and effective basis for the comparison of the
data in proper and correct manner.
2. Simplified balance sheet with three sub heading
Asset 2019 2018
Cash and bank 2126 1866
Current asset (excluding cash) 5226 5305
Non- current asset 17149 15246
Total asset 24501 22417
Short term bank loan 2475 3743
Current liabilities (excluding short term loan) 4866 4686

Long term liability 5360 2622
Equity 11800 11366
Total shareholder equity 24501 22417
3. Computation of working capital, working capital need and net cash
Particular 2018 2019
Equity 11366 11800
Long term liabilities 2622 5360
Non- current asset (15246) (17149)
Working capital (1258) 11
Current asset (excluding cash) 5305 5226
Current liabilities (excluding short term bank loans) 4686 4866
Working capital requirement 619 360
Cash 1866 2126
Short term bank loan and bank overdraft 3743 2475
Net cash (1877) (349)
The working capital is being defined as the difference between the current asset and the
current liabilities. For the effective working of the company it is very essential for the business to
manage and maintain the working capital. The reason underlying these factors that the working
capital is used to pay off the daily and operating expenses of the business. Under this all the
current assets are added and all the current liabilities are subtracted from the total of current
assets. For the companies it is very essential to manage and maintain the working capital
requirements. The reason underlying this factors that the working capital outlines the liquidity
and operational efficiency of the company. The reason underlying this part is that the liquid day
highlights the fact that how instantly the company can convert its current assets into cash
(Wilkerson and Bassani, 2020).
Hence with the above table it is very much clear that in 2018 the working capital
requirement was negative that is the company was not able to meet the balance between the
current assets and current liabilities. Further in 2019 even though it was positive but it was very
less. Further on the basis of the requirement of working capital it was analysed that in 2018 the

working capital was 619 more than it would be positive. On the other hand in 2019 the working
capital requirement is of 360. In addition to this teen net cash was both it was that is outflow was
more in both years. In 2018 it was 1877 but in 2019 it was 349.
4. Computation of the common size income statement for 2017- 2020
Year ended December 31 (in
millions of $) 2020 2019 2018 2017
Net operating revenues 21044 100% 19564 100% 17545 100% 17354 100%
Cost of goods sold 7762 37% 7105 36% 6044 34% 6204 36%
Gross profit 13282 63% 12459 64% 11501 66% 11150 64%
Selling, general and
administrative expenses 7488 36% 7001 36% 6149 35% 6016 35%
Other operating charges 573 3% 0% 0% 1443 8%
Operating income 5221 25% 5458 28% 5352 31% 3691 21%
Interest income 176 1% 209 1% 325 2% 345 2%
Interest expense 178 1% 199 1% 289 2% 447 3%
Equity income (loss) 406 2% 384 2% 152 1% -289 -2%
Other income (loss)—net -138 -1% -353 -2% 39 0% 99 1%
Gains on issuances of stock
by equity investee 8 0% 0% 91 1% 0%
Income before income taxes
and cumulative effect of
accounting change 5495 26% 5499 28% 5670 32% 3399 20%
Income taxes 1148 5% 1523 8% 1691 10% 1222 7%
Net income before
cumulative effect of
accounting change 4347 21% 3976 20% 3979 23% 2177 13%
5. Analysis of the statements prepared ad critical evaluation of the performance of the company
With the above analysis of the simplified balance sheet it was clear that under this type of
balance sheet only the key aspects are been recorded. For instance, only the cash is recorded
separately rest of theme current assets are clubbed together and recorded will stop in addition to
this the non-current aspects are also recorded separately (Ojua, 2017). In the same manner only
the short-term bank loans are recorded separately and remaining current liabilities are recorded
under same group. Along with this the long term liabilities are also recorded separately and the

equity is of the company also recorded separately. Hence the use of the simplified balance sheet
makes it very clear and understandable to the viewers the financial position of the company.
Thus, this makes it easier for the investors to decide that whether they have to invest within the
company or not by just viewing the financial position of the company.
Further with evaluation of the income statement it was analysed that the common size
statement is very helpful in deciding the profitability of the company. The reason underlying this
fact is that I'm the common size income statement evaluates the financial profitability of the
company on basis of a single common factor that is revenue. All the other elements within the
income statement are being compared against the revenue and the percentage change from the
revenue is being highlighted. Hence with the help of this common size income statement it is
clear that within the year 2018 the cost of goods sold was 34 % of the total net operating
revenues. In addition to this it was also evaluated that in the year 2019 the increased to 36% and
further in 2028 increased to 37% of the total revenues (Sohrabi, 2017). Similarly it was analysed
that the income taxes was earlier 7% in the year 2017 and thereafter it increased to 10% within
the year 2018 for the end the year 2019 the income tax was 8% of the total sales which decreased
to 5% within the year 2020.
6. Computation of the profitability ratios and analysis of it from perspective of gaining insight
into efficiency
For analysing the efficiency profitability of the company the most essential aspect is to
analyse the profitability ratios full stop the reason underlying this fact is that these profitability
ratios assist in analysing the fact that how much profit is the company generating. With help of
these profitability ratios the performance of the company can be analysed in effective and
efficient manner. With the perspective of gaining inside for the efficiency of the company that is
how well the company is utilising its resources the use of different profitability ratio is being
used. The different property ability ratios of Honey Badger PLC are as follows-
Particular Formula 2019 2020
Gross profit ratio Gross profit / sales *
100
12459 / 19564 * 100
= 63.64%
13282 / 21044 * 100
= 63.12%
Net profit ratio Net profit / sales *
100
3050 / 19564 * 100
= 15.58%
4347/ 21044 * 100
= 20.66%
Sales per employee Total revenue / 19564/ 10506 21044/ 10241

number of employees = 1.86
= 2.05
 Gross profit ratio- the gross profit ratio of the company analyses the fact that the gross
profitability of the company is almost same within both the years. In 2019 the gross profit
ratio was 63.6 4% where is in 2020 the ratio was 63.1 2%. This implies that there is very
slight change between the gross profitability of the company.
 Net profit ratio- by the evaluation of the net profit ratio of Honey Badger PLC it was
evaluated that in the year 2019 it was 15.5 8% where is in 2020 it increased to 20.6 %. With
this it can be assumed that either the expenses of the company have been decreased or the
sales of the company have increased to a great extent (Mehta and Bhojwani, 2020). Increase
in profitability highlights the fact that the efficiency of the company has improved and
because of this the net profit has also increased.
 Sales per employee- in addition to this the sales for employer ratio is also been calculated in
order to analyse the efficiency of the company for stop this ratio is being calculated as the
company's annual sales being divided by the total number of employees. This is for revenue
ratio is a ratio which provides a indication that how expensive a company is to run. Hire the
sales for employee number is better for the company and its operations (Oboh and
Ajibolade, 2017). With the evaluation of the data it was analysed that the sales for employee
has been increased in comparison to the last year. In 2019 the sales per employee was 1.86
whereas in 2020 increased to 2.05. Hence with this it can be evaluated that the efficiency of
the company has increased in comparison to the last year.
QUESTION 2
(1)
Preparation of Alpha’s Ltd cash budgets for the month October, November and December of the
current year
Particulars October (£) November (£) December (£)
Cash Balance at the beginning of the
month (A)
87,500 125000 162500

Cash Collection for the month:
Cash collection from trade receivable
i.e., from the previous month sales
375000 375000 375000
Total Cash collection (B) 375000 375000 375000
Cash Payment during the month:
Cash paid for trade payable i.e.,
Variable 20% for previous month sales
revenue
75000
(375000*20%)
75000
(375000*20%)
75000
(375000*20%)
Payment of other variable cost 150000 150000 150000
Payment of fixed cost excluding
depreciation
112500
(150000 - 37500)
112500
(150000 - 37500)
112500
(150000 - 37500)
Total Cash Payments (C) 337500 337500 337500
Cash Balance at the end of the month
(A + B - C)
125000 162500 200000
Working Notes:
Sales revenue of Alpha ltd. For each month is £375000 and the contribution made from
the sales is 40 p per £1 sales i.e., 375000 * 40% = £150000. So it can state that the total variable
cost is equal to Sales revenue – Contribution i.e., 375000 – 150000 = £225000. In the total
variable cost the variable raw material cost account (trade payable) is equal to 20 p per £1 of
sales revenue i.e., 375000 * 20% = £75000. So, out of the 225000 the other variable cost is
£150000 i.e., 225000 – 75000.
Note:
The company got received payments from their debtors one month after the sales made of
products.
Note:
The company pays to their creditors after one month after the purchase of raw materials
from the supplier.
Note:

Depreciation is the non cash expense so it is not a part of cash outflow activity of the cash
flow statement. The depreciation is chargeable against the income of the business entity.
Preparation of Alpha’s Limited cash budget for the month of January and February of the next
year
Particulars January (£) February (£)
Cash Balance at the beginning of
the month (A)
200000 (272500)
Cash Collection during the month:
Cash collected for trade receivable
i.e., from the previous month sales
Nil 562500
Total Cash collection (B) - 562500
Cash Payment during the month:
Cash paid to trade payable i.e.,
Variable 20% for previous month
sales revenue
112500 112500
Payment for other variable cost 247500 247500
Payment for fixed cost excluding
depreciation
112500
(150000 - 37500)
112500
(150000 - 37500)
Total Cash Payments (C) 472500 472500
Cash Balance at the end of the
month (A + B - C)
(272500) (182500)
Working note:
Sales revenue for the company get increased by 50% i.e., 375000 + 375000*50% and
become £562500 for each month. The selling price of the organisation reduced with 10% it
means that the contribution percentage become 36% p i.e., 40 - (40 p *10%). The company is
allowed two-month credit period on the the trade receivables. So, in the present case contribution
is equal to 562500 * 36 p = £202500 and the total variable cost is equal to sales – contribution

i.e., 562500 – 202500 = £360000. The variable raw material account (trade payable) become
112500 i.e., 562500*20p and the other variable cost is equal to 360000 – 112500 = £247500.
Note:
The organisation commences the change in the sales volume, sales price and the TR time
period from the 1st of December only. So, in the month of January no amount is collected from
the sales because of 2-month time period.
Note: The amount of sale made in the December is received in the month of the February.
(2)
In order to take any business decisions company should evaluate about the all different
factors or element that influence the overall performance of the business entity. There are various
elements or factors that create in impact over the decision making made by the company before
approaching to any approval over the proposal.
Availability of cash & bank balance: Cash balance is a very important aspect of business
operations. In context to the business entity cash and equivalent is a very essential factor as it
becomes a part of all the policy company has adopted. Company is planning to make a change in
its debtor receivable tenure from two months (Klueber, Gold and Pott, 2018). This is important
before initiating for any change the business entity should consider for the cash balance as this
change or decision will certainly influent the liquidity situation of the business entity. Cash and
balance balances are all denoted about the liquidity situation and any decision company make
should not influence the liquidity situation of the organisation.
Slower collection of receivables: Company is making a change in its trade receivable policy.
This would certainly impact over various aspects or elements associated with the business entity.
Collection of receivable and payment of creditor are the two certain aspect that directly influence
each other in the business functions (Camfferman and Wielhouwer, 2019). Company should also
analysis its creditor payment policy before considering any change in the trade receivable policy
adopted by the business entity.
Working capital policies: Working capital policy of company should also be analysed before
considering for any change in the business policy. Any change company adopted certain
influence to all areas of operations and all functional aspects. Working capital policy of company
should be a key element that must have been considered before initiating any change in the

policy (Habib, Ranasinghe and Huang, 2018). Working capital is a significant factor or element
that certainly affects the business operations undertaken by company. Any change in the policy
that can influence the working capital of business entity should be considered before making any
such change.
Financing activity: Financial activity is a prominent factor that influences the business
operations of organisation. Financing activity associated with the business entity should also be
considered before Company should analysis the financial activity associated with the business
entity (Tran, Nguyen and Hoang, 2021). This is essential that the changes company adopt should
not influence the financial position of the business entity. This is an important element that
should get involved before initiating any change in the organisation policy.
(3)
Impact of economic environment over corporate reliance on budgets
Budgeting is a predetermined process where company analysis, evaluate and understand
the requirements of the business entity and make a forecast about the future related needs of
company. This is the process where the management of the company predict about the expected
sales volume, revenue, resource allocation, cost, expenses, liabilities, assets and cash flows for
the predetermined period of time i.e., for one year. In context to the business there are various
elements or aspects that create an impact over the preparation and reliance on the budgets. The
aim of the budget is to make a balance between company’s resources and its requirements for the
respective financial year (Yang and Simnett, 2020). The factors that affect the budgeting
practices of company are identified as political factors, economic factors, natural calamities,
climate conditions, terrorist activities etc. It is identified that the most crucial factors that affect
the business budgets planning and evaluation is economic environment of the country. The
professionals already determined that economy of the country changes over a period of time
based on the changes in the inflation rate, economic growth rate, unemployment rate, exchange
rate, interest rates etc. All these changes in economy and country create a certain changes in the
business policy of company. Due to the economic crises of the year 2008, the organisations
facing continuous issues in evaluating and understand the business performance of the company
(Arthur, Chen and Tang, 2019). Irrespective of the challenges companies are also capable to

cope up with all these challenges with support of an appropriate resource planning and
implementation practices.
The government in the UK trued to remove the different barriers associated with the
business in process to move forward the money and financial resources. Pre 2008 crises, all
majorities of business houses invested heavy funds outside the country in form of the foreign
direct investment (Choudhary, Merkley and Schipper, 2019). The impact of this created in such
manner that the liability of country could increase drastically. The companies make such steps
based on the budgets they prepare that determine the assumptions regarding changes in economy
and market (Chen, Zhang and Zhou, 2018). The post 2008 crisis could offer issues and
challenges related to liquidity situation of the business entity. The crisis created an impact where
companies do not hold sufficient cash resource to meet up all its liquidity requirements of the
organisation. The post effect of crisis is such that companies followed the practice where they
started preparing and focusing over the budgetary practices to overcome all financial or liquidity
needs and requirements of the organisation. The key limitation of this practice is the variance in
which the business entity could not incorporate budgeting practices. The liquidity crisis in the
banking sector could not offer the sufficiency cash or financial resources to business houses
where they get to deliver all its operations and functions. This could certainly affect the overall
performance or position of the business entity in the respective market.
As an impact of the global recession of the year 2008, the decline in the economic growth
of country. The effect of that is over the economic growth of companies at a global level. The
recent time the covid 19 pandemic is another factor or element that influences the business
performance of companies. The pandemic has allowed the business sector to face numerous
challenges and hurdle while delivering the business operations of the organisation. This can
certainly allow that pandemic has imposed lockdown like practices that could not allow the
companies to continue the trade process (Weetman, 2018). Apart from the e-commerce sector
other companies are all suffering due to the covid guidelines issues by the world health
organisation. This can certainly denote that the pandemic has completely restricted the growth
and development possibility of the business house. In respect to the corporate entity the flow of
operations are very essential as it decide the strategic outcome of the organization. The pandemic
has influenced to that level where the business entity could not direct its strategies and polices in
an impactful way which further affect over the business outcomes of the organisation (Pavithran

and et.al., 2018). Crisis situation are always tough for the companies as it directly influence the
business operations of company. The crisis completely reduces profitability of the business entity
that would certainly affect over the growth possibility of the organisation. This can evaluate that
the crisis will influence at a certain level and with support of strategies company will be able to
deal with the negative aspects of the crisis.
Ways to improve flexibility of budgeting process
The companies after the recession can adopt following ways to improve their budgets
flexibilities so that they can easily cope up with the environmental uncertainties. This includes:
 By tracking everything: The managers of the company need to track every possible
outcome and trends whenever they do budget and forecasting for the upcoming fiscal
year. It is because even a small underestimation related to potential buyout of a
competitor or may be office supplies lead to heavy loss to the company. The experts need
to keep their eyes on the recent trends, customers behaviour towards their products,
number of competitors and their profit margin etc (Si and Qiao, 2017).
 Be clear about company’s goals: The managers of the company before setting standards
and creating budgets need to first visualize the goals of the company that they want to
achieve. It is always advisable to the companies that they must set realistic goals which
are achievable because unrealistic goals are always create chaos and confusion. If the
managers are not clear about the actual objective of the company than their ability to
accurately forecast of the business financial conditions gets falter.
 Let Excel go: It is recommendable to the companies that rather than just relying on
spreadsheets and excel for the preparation of budgets they can implement cloud-based
system for the same purpose. The impact of this is that the cloud-based systems allow
more flexibility along with the better scrutiny and cost saving service. And not only that
with the help of this the managers are able to predict and prepare more accurate budgets
which involve minimal errors. It is because the system now became the standards for all
the areas of finance which provides much more service than just providing only
bookkeeping related service (Saunders and Bedford, 2017).
 By involving entire team: The companies have to understand that budgeting and
forecasting is not a single person task and basically it involves the entire organization into
it. It is a team effort in which all departments and units have to understand their task and

work needs and make sure that they achieve it in best manner possible. The finance
department need to collect accurate data from the various other departments such as cost
of raw material, cost of production, sales unit, selling price details etc. in order to prepare
accurate and relevant budgets.
 By keeping budgets flexible: The managers have to prepare budgets in such a way that
can easily be change as per the changes take place in internal and external business and
economic environment. It is because rigid budgets and forecast are not as useful as
flexible is. There are various factors such as inflation rate, interest rate, employment rate
which changes over the period of time and also affects the business decision making. So,
the company in order to keep their budgets updated is necessary and important because
keeping the employees on an outdated information might result into slower productivity
and also frustrating (Kondolf and et.al., 2018).
CONCLUSION
In the end it is concluded that management accounting is very essential for the effective
working and operations of the company. The management accounting is being defined as the
crucial process which assists company in maintaining the financial records for effective decision
making. The above report highlighted the fact that compliance with IFRS is very essential for
accounting practice harmonization. Further it evaluated that having a simplified balance sheet
and proper working capital requirement along with income statement is very essential. In
addition to this it also evaluated the fact that the profitability ratios are also essential to be
calculated in order to assess the efficiency of the business. In addition to this the report also
highlighted the fact that budgeting is also and crucial aspect of business. In the end it was
evaluated that there are many ways to improve the flexibility of the budgeting process.

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