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企业金融代写 EF1531代写 企业管理代写

2022-05-12 12:01 星期四 所属: 管理代写 浏览:87

Assignment

企业金融代写 Task Guidance For guidance on this assignment, please access the assignment vodcast available through Canvas Assignment Task 

Programme Title MSc Enterprise Management
Module Title Entrepreneurial Finance
Module Code 1531
Assignment Title ENTREPRENEURIAL FINANCE COURSEWORK
Level 7
Weighting 100%
Assignment Format Question and Answer Format
Assignment Word Count 2000
Presentation Duration N/A
Module Learning Outcomes covered in this assignment i. Undertake financial decisions based on financial information available

ii. Utilise forecasting models to determine future revenue

iii. Apply financial tools and techniques for financial decision making

 

Task Guidance     企业金融代写

For guidance on this assignment, please access the assignment vodcast available through Canvas

 

Assignment Task   

you are required to improve on your original submission for this resit

  1. You are required to complete all sections A, B, C, D and E, providing your answer under each question.
  2. You must show your working out under each section.
  3. You should use the formulae and tables provided.
  4. In-text citations and reference list must follow UCB Referencing Guide.
  5. Your work must comply with UCB presentation standards and are advised to refer to the guidance for submitting assignments in the Student Handbook.

 

SECTION A: CASH BUDGETS   企业金融代写

Chung Limited is applying for additional bank overdraft finance to enable the company to make the plant and machinery purchase described below. The directors have has asked you to draw up a cash budget for the 6 months to 30 June 2020 to prove to the bank that that overdraft finance will be repaid by 30 June 2020. The company provides you with the following financial information:

Month Sales Purchases Wages Overheads
£ £ £ £
November 2019 (actual) 45,800 18,400 9,600 6,000
December 2019 (actual) 34,600 13,900 9,800 14,000
January 2020 (budgeted) 42,200 16,800 10,500 7,000
February 2020 (budgeted) 44,000 17,600 11,200 7,500
March 2020 (budgeted) 54,000 21,600 13,500 18,800
April 2020 (budgeted) 57,600 23,000 14,400 8,000
May 2020 (budgeted) 61,800 24,700 15,300 9,200
June 2020 (budgeted) 63,700 25,500 15,900 9,800

Notes:   企业金融代写

i. The bank balance at 1 January 2020 is expected to be £25,000.

ii. 60% of sales are for cash with the other 40% being on credit. 70% of credit sales pay in the month following the month of sale with the other 30% paying 2 months after the month of sale.

iii. 50% of purchases are paid for in the month after the month in which they are made with the remainder being paid 2 months after the month in which the purchases were made.

iv. 70% of wages are paid in the current month with the other 30% (representing tax and national insurance deductions) being paid over to the taxation authorities in the following month.

v. Overheads are paid in the month in which they are incurred. Overheads include £4,000 of plant and machinery depreciation each month.

vi. The directors of Ming Chung Limited expect to make a payment of £100,000 in January 2020 to acquire new plant and machinery.

 

Question 1         (12 marks)

Prepare the cash budget for Chung Limited for the 6 months ended 30 June 2020.

                                                                                         

Question 2           (8 marks)

Discuss the steps that the directors of Chung Limited could take to fund the company’s operations if the bank refuses to agree to the required overdraft.

 

SECTION B: WORKING CAPITAL MANAGEMENT   企业金融代写

RYSC plc manufactures seats for luxury cars.  The business has been trading for the last 15 years in a highly competitive market. Expand the business into international market.  The CEO has hired a financial consultant to evaluate the financial position to undertake research to invest internationally.  The consultant has been asked to provide an analysis based ion the information given by the financial statements.  The company’s financial statements for the years ended 31 December 2019 and 31 December 2018 are presented below:

Statements of Financial Position

        2019

          £m

          2018

           £m

Non-current assets
Property, plant and equipment 320 240
Current assets
Inventories 75 30
Receivables 63 42
Cash and cash equivalents 10 50
148 122
Total assets 468 362
Current liabilities
Trade and other payables 61 38
Current taxation 33 22
Total liabilities 94 60
Net assets 374 302
Equity
Share capital (£1 shares) 125 125
Share premium 50 50
Retained earnings 199 127
Total equity 374 302

Statements of profit or loss for the years ended 31 December

2019   2018
£m   £m
Revenue 575 400
Cost of sales 368 260
Gross profit 207 140
Distribution costs 20 16
Administrative expenses 26 20
Operating profit 161 104
Finance income 4 8
Profit before tax 165 112
Income tax 33 22
Profit for the year 132 90

Additional Information:   企业金融代写

  • RYSC plc sells its car seats to the major global automobile manufacturers. The company has long term supply contracts with their customers. These long term supply contracts have an average of eight years to run before RYSC submits proposals for their renewal. Two new ten year contracts were signed with customers during the year ended 31 December 2019.
  • RYSC plc buys components from its suppliers on credit and trades with its customers on credit.
  • The company paid a dividend during the year ended 31 December 2019 of £60m.
  • Depreciation of £30m was provided on property, plant and equipment during the year ended 31 December 2019.

 

Question 3               (7 Marks)

Calculate the following ratios for 2019 and 2018 for RYSC plc:

a. Current ratio

b. Quick ratio

c. Gearing ratio

d. Inventory days

e. Receivable days

f. Trade payables days

g. Cash conversion cycle

Your ratio calculations should be made to two decimal places.

 

Question 4              (13 marks)

Evaluate the liquidity and financial stability of RYSC plc.

 

SECTION C: FORECASTING MODELS   企业金融代写

MOVING AVERAGE

EN2PRZ Ltd is a retailer of party and gift products.  The company is currently facing financial difficulties due to the current economic crisis where the management team is aware of the challenging business environment and its impact on the business and its ability to generate future income.  The business is therefore interested in forecasting their future sales to ascertain sufficient stock of goods in order to establish the likely demand.

The following breakdown of sales has been obtained from EN2PRZ Ltd.

Month Time Period Actual Sales

A

January 1 350.00
February 2 383.00
March 3 371.00
April 4 390.00
May 5 409.00
June 6 432.00
July 7 468.00
August 8 485.00
September 9 431.00
October 10 450.00
November 11 508.00
December 12 591.00

Question 5                   (5 marks)

Using a three month moving average, calculate the Mean Absolute Deviation

 

WEIGHTED AVERAGE   企业金融代写

On reflection, EN2PRZ Ltd considers that the closest time period is a more accurate predictor of future sales than previous time periods. Therefore, they have assigned the following weighting: W1 = 0.2, W2 = 0.3 and W3 = 0.5.

 

Question 6                   (5 marks)

Calculate the Mean Absolute Deviation using the weighted averages given.

Month Time Period Actual Sales

A

January 1 350.00
February 2 383.00
March 3 371.00
April 4 390.00
May 5 409.00
June 6 432.00
July 7 468.00
August 8 485.00
September 9 431.00
October 10 450.00
November 11 508.00
December 12 591.00

LINEAR REGRESSION

In addition, EN2PRZ Ltd want to forecast their sales longer term, using the Least Squared Regression method.

 

Question 7        (8 marks)

 

 

complete the table above and calculate the linear regression equation in the form

y = a + bx

 

Question 8                   (2 marks)

Using your equation what will be the forecasted sales for 18 months?

 

SECTION D: TIME VALUE OF MONEY   企业金融代写

Question 9        (2 marks)

What will a £7000 investment be worth in four years’ time if the interest rate is 1.5%  compounded annually?  Give your answer to the nearest whole pence.

 

Question 10        (2 marks)

You plan to invest £25000 in the shares of a company. If the value of the shares increases by 4.25% each year, what will the value of the shares be in 12 years’ time?

 

Question 11        (2 marks)

You have received an unexpected inheritance sum of £15000. You are keen to invest this for the future and have researched various saving accounts. Which savings account offers the best return on your inheritance?

A. 8% over one year

B. 6% over two years

C. 5% over three years

D. 3% over four years

 

Question 12        (2 marks)

As a loyalty incentive your new employer offers you a bonus of £6750 if you remain with them for six years. You anticipate inflation will increase by 2% each year. What is the bonus valued at today?

 

Question 13        (4 marks)

A competing employer wants to lure you away from the above employers and offers you an alternative incentive. The offer includes a £4500 bonus over five years. This consists of a £400 signing bonus, £650 for year 1, £700 for year 2, £750 for year 3, £800 for year 4 and £1200 for year 5.  What is the present value of the bonus today if you anticipate inflation will increase on average by 2% each year?

 

ANNUITIES    企业金融代写

Question 14        (2 marks)

Each year you receive an end of year bonus of £1500 from your employers. You are keen to save this bonus and put it towards a deposit on a house. You have identified a savings account offering 3% annual interest. After three years how much money you would have towards the deposit?

 

Question 15        (2 marks)

You are also in a position to save £325 at the start of each month towards the deposit needed for the house. You have identified a saving account which offers 12% annual interest. After three years how much money would you have towards the deposit?

 

Question 16        (2 marks)

As a promising tennis player, a company wishes to sponsor you for the next three years to advertise their business. If you win the County League they will pay you £2500 at the end of each annual season. The company uses an account that offers 3% annual interest. How much does the company need to deposit today to ensure you receive £2500 each year?

 

Question 17                   (2 marks)

On further negotiations you discuss with the company the benefit, for both parties, of receiving the £2500 sponsorship at the beginning of each annual season as this would allow you the opportunity to pay for more coaching in order to improve your performance. Assuming the terms remain the same (as in question 16), how much money does the company need to deposit in the account today if they agree to this option?

 

SECTION E: INVESTMENT APPRAISAL   企业金融代写

RYCH Limited has £800,000 to invest. The company is considering two investment projects A and B but only has sufficient cash to accept one of them. The projected cash flows of the two potential investments are presented below. The directors have asked for your help and advice in reaching a decision on which investment project to accept. RYCH Limited has a cost of capital of 9%.

A B
Cash flows £000 £000
Initial investment (800) (800)
Cash inflows year 1 250 150
Cash inflows year 2 300 250
Cash inflows year 3 200 300
Cash inflows year 4 200 240
Cash inflows year 5 150 200
Cash inflow from sale of the investment at the end of year 5 100 150

 

Question 18                 (4 marks)

For both investment projects calculate payback period.

 

Question 19                    (12 marks)

For both investment projects calculate

a) The accounting rate of return

b) Net present value

                                                                     

Question 20                        (4 marks)

Using the information on cash inflows and the results of your investment appraisal calculations, briefly discuss which project should be selected by the directors, providing a justification for your recommendation.

 

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企业金融代写

 

 

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