By Ray Fitzgerald
A resource of steerage for the company supervisor, this quantity deals useful suggestion on all features of economic making plans, regulate and decision-making. This 3rd version is written in an obtainable kind for the non-specialist and covers: the stability sheet; the revenue and lack of a company; monetary keep watch over; capital funding judgements; taxation and monetary judgements; and mergers and take-overs. The paintings goals to teach the reader tips to interpret, keep watch over and utilise funds successfully whereas keeping caliber and repair.
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Additional resources for Business Finance for Managers: Essential Guide to Planning, Control and Decision Making
The inclusion of a depreciation charge in his profit and loss account is designed to help him to do this. An operational imperative for any business is to save money for replacement of assets. The taxi driver should restrict his spending to the profits he makes and place the depreciation funds in an asset replacement deposit account. After three years the deposit account and the trade-in should provide sufficient funds for replacement. This approach is less easy to apply in a more complicated business.
In a typical week he drives passengers about 3,000 miles and makes a good living. Nevertheless, his business and family outgoings are large and he has very little saved after three years. At this point his taxi has more than 450,000 miles on the clock and maintenance has become very expensive. Ideally it is time to buy a new vehicle but he does not have enough money to pay for the purchase. The driver has made an error by spending virtually all of his takings. He has really consumed most of the capital with which he started his business.
Only dividends received are taken into the profit and loss account as income. Dividends proposed but not yet paid are ignored until the year in which they are received. This is because the AGM of that company could cancel or reduce the dividend. 3 Parent 600 150 450 Subsidiary 240 60 180 Group 840 210 630 45 585 Profit and loss account, Tree group £’000 Tree plc Branch Ltd Sales Operating profit Income of associate 10,000 1,000 4,000 615 240 760 150 465 Corporation tax Profit retained Group 10,000(1) 1,000(1) 246(1) 1,246(1) 300(2) 946(1) Notes: (1) £615,000 × 40%.
Business Finance for Managers: Essential Guide to Planning, Control and Decision Making by Ray Fitzgerald