Financial Management

Learning Outcomes: Knowledge and Understanding tested in this assignment:
·         Identify the sources of finance to a company and the reward of the providers of that finance

·         Dividend policy of an organisation

Learning Outcomes: Skills and Attributes tested in this assignment:
·          Identify and apply appropriate techniques for choosing between alternative sources of funding
Feedback /Marking Scheme for this Assignment
Performance will be assessed using HBS Grading Criteria and Mark scheme.
Guidance for improvement will be given in writing on the Assessment Feedback Form or on the StudyNet Feedback Form within 4 weeks of submission.

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Late submissions:

For each day or part thereof (or for hard copy submission only, working day or part thereof) for up to five days after the published deadline, coursework relating to modules at Levels 0, 4, 5, 6 submitted late (including deferred coursework, but with the exception of referred coursework), will have the numeric grade reduced by 10 grade points until or unless the numeric grade reaches or is 40. Where the numeric grade awarded for the assessment is less than 40, no lateness penalty will be applied.

Plagiarism offences will receive standard penalties.

 

 

 

 

 

 

 

Question 1( 50 marks )

Harry Inc. is a small manufacturing company. Its summarised accounts for the last two years are presented below:

 

 

Balance Sheets as at 31st March

  2019 2020
  £ 000 £000 £000 £000
Fixed assets   820   1,000
Current assets        
Inventory 340   420  
Trade receivables 360   570  
Cash 10 710 0 990
Total assets   1,530   1,990
         
Equity and liabilities        
Equity shares of £0.25 400   400  
Accumulated profits 450   530  
Total equity   850   930
Medium- term bank loan   200   200
Current liabilities        
Bank overdraft 140   250  
Trade payables 280   510  
Other payables 60 480 100 860
Total equity and liabilities   1530   1,990

 

Income statements for the year ending 31st March

  2019 2020
  £000 £000
Sales 1,800 2,900
Gross profit 210 260
Profit before tax 120 160
Taxation 30 40
Profit after tax 90 120

 

Harry Inc. paid dividends of £40,000 each year to the equity shareholders.

 

Question 1 (50 marks)

 

Evaluate whether Harry Inc. is over-trading.

 

 

 

 

 

 

 

Question 2 (25 marks)

Discuss ways in which the shareholders of a company can encourage its managers to act in a way, which is consistent with the objective of maximisation of shareholder wealth.

 

 

Question 3 (25 marks)

The primary financial objective of corporate finance is usually taken to be the maximisation of shareholder wealth. Discuss what other objectives may be important to a public limited company and whether such objectives are consistent with the primary objective of shareholder wealth maximisation.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marking Scheme – Module Name – Financial Management ( Coursework)

 

Student Name and Number:

 

Task Detail(s) (%) Feedback

Key Descriptors: Outstanding, Excellent, Very good, Good, Satisfactory, Marginal Fail, Clear Fail, Little or Nothing of merit

Mark
Q1. Evaluate whether Harry Inc is over trading( 50 marks)  

 

 

 

 

 

 

 

 

Q2. Discuss ways in which the shareholders of a company can encourage its managers to act in a way which is consistent with the objective of maximisation of shareholder wealth.

(25 marks)

 

   
Q3.The primary financial objective of corporate finance is usually taken to be the maximisation of shareholder wealth. Discuss what other objectives may be important to a public limited company and whether such objectives are consistent with the primary objective of shareholder wealth maximisation.( 25 marks)

 

   
Total  ( 100 marks)    

 

Performance will be assessed using HBS Grading Criteria (Studynet Link).

Overall Comments (to support annotated comments on assessment),

 

 

 

 

Points for improvement/feed-forward for future work (top tips for next time)

 

 

 

 

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