Subject Code : PGBM12
Assignment Task:

Task:

Learning outcomes Outcomes Assessed: All

This assessment covers the following learning outcomes from themodule.

Knowledge
K1. A critical understanding of the key strategic financial statements of an organisation
K2. Understanding and evaluation of the uses of both quantitative and qualitative accounting information within an organisation
K3. Knowledge and understanding of theoretical concepts and frameworks to a range of practical situations in order to propose solutions to strategic business problems
 

Skills
S1. The cognitive skills of critical thinking and analysis in showing how the finance function can make a significant contribution to the successful strategic management of anorganisation
S2. The skills necessary to communicate effectively at a senior level and be able to put these skills into practice
S3. Development of the skills required to independently access and process financial data

Part A -FridgeFreeze Plc
You are a financial analyst at FridgeFeeze Plc; a public limited company specialising in manufacturing and distributing refrigeration equipment. The Board of Directors have looked into the financial statements of the company for the last two years and have raised concerns regarding both the company’s profitability and liquidity. The financial statements of FridgeFeeze for the last two years are given below:

Statement of Comprehensive Income for the year ended 31December

  • 2018 2017
  • £000 £000 £000 £000
  • Revenue 38,550 29,950
  • Less: Cost of sales:
  • Opening Inventory 3,875 4,535
  • Manufacturing costs 22,140 13,250
  • 26,015 17,785
  • Less: Closing Inventory (6,225) (3,875)
  • (19,790) (13,910)
  • Gross profit 18,760 16,040
  • Less: Expenses
  • Selling & distribution expenses 8,135 4,380
  • Administrative expenses 2,100 990
  • Bad debts written off 1,040 565
  • (11,275) (5,935)
  • Operating profit 7,485 10,105
  • Less: Interest payable (1,690) (380)
  • Profit before tax 5,795 9,725
  • Less: Income tax (900) (1,920)
  • Profit after tax 4,895 7,805
  • Less: Dividends paid (2,100) (2,100)
  • Retained profit for the year 2,795 5,705

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  • Posted on : July 17th, 2019

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