CASE IN FINANCE: WORKING COMPUTERS LIMITED

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ECF6110 Business Finance 16/09/2014

Prepared by: Diane Bunney

 Why study critical analysis and problem solving?

 Why study report writing?

 How are these skills relevant to the finance profession and your future career?

 Your assignment reflects what happens in the commercial world

 Businesses must regularly evaluate investment options

 Management uses capital budgets and cash flow forecasts to make decisions about the future direction of the business

 Using financial data to make informed management decisions is crucial to profitability and long‐term viability

Your assignment is a form of case study. Case studies in this unit serve the following purpose:

 Assess the depth of your financial knowledge

 Assess your ability to apply theories, principles and financial analysis tools to business situations

 Provide opportunities to develop critical analysis and problem solving skills

 Broaden your understanding of real world, financial issues

ECF6110 Business Finance 16/09/2014

Case study questions can be:

 Problem based ‐ you are required to solve or address a particular problem or issue(s)

 Analytically based – you are required to critically analyse a situation and propose a course of action

Which type of case study do you have in this unit?

7 8

 Raw figures are of limited use in business

 It is the analysis and interpretation that provide the tools for making good business decisions

You are critically thinking when you:

 Examine a real‐life situation and extract the key issues and problems

 Consider the relevant financial analysis techniques to apply to these issues

 Evaluate capital budgets and investment options in the context of your financial knowledge

1. Read the case carefully to gain a clear understanding of the situation

2. Read the assignment requirements closely ‐ pay attention to details

3. Analyse the data provided and perform the necessary calculations – ie generation of cash flow tables

4. Clearly explain the assumptions underlying your calculations

5. Critically evaluate the results of your calculations ‐ check for accuracy and reasonableness

6. Evaluate and compare investment options on the basis of your analysis

7. Identify any issues or problems for the business that emerge from your analysis

8. Consider the applicable financial theories

9. Propose a plan of action for the business

10. Write your report

ECF6110 Business Finance 16/09/2014

 Answer ALL the questions in the assignment and cover all the issues raised

 Do not omit points as you will lose marks

 Determine what information is relevant and what is not– extract key points

 Outline your assumptions

 Justify your decisions and support your conclusion with evidence

 Include your cash flow table in the body of the report and all other workings as appendices

 Arrange a meeting with your partner to analyse the case study

 Discuss the requirements and work out an action plan

 Agree on who will do what and work out a timeframe for completion

 Write out a written action plan with dates and names

 Perform your calculations and analyse the data

 Consider alternative recommendations for action and select the best option

 Write an outline for the report

 Allocate sections to team members

 Set deadlines for drafts

 Arrange a meet to critically evaluate and edit report drafts

 Rewrite report draft

 Proofread final draft and submit

 Title page  Table of Contents  List of Appendices – tables, reports, graphs etc  Executive Summary – overview of entire report (optional)  Introduction –purpose of report and background information

 Analysis – discussion of data, issues, problems, implications etc

 Conclusion – brief summary to this point  Recommendations – outline of actions to take  References – list of texts, articles etc referred to  Appendices

 Separate title page

 Separate Table of Contents page

 Numbered headings and sub‐headings

 Paragraphs

 Footers and page numbers

 Professional presentation – consistent font, formatting etc

ECF6110 Business Finance 16/09/2014

 Formal business English

 Be clear and concise – quality v quantity

 Use impersonal English ‐ avoid personal pronouns ‘I’, ‘we’, ‘you’; not ‘We think...’ but ‘It seems that’

 Use transitions to link ideas – therefore, furthermore, however

 Avoid abbreviations, slang and colloquialisms ‐ not ‘couldn’t’ but ‘could not’

 Avoid repetition

New idea

New paragraph

Topic sentence

Supporting sentences

Concluding sentence

 Paragraphs follow a logical order, creating a cohesive line of argument

 Within paragraphs, sentences are linked by transition signals to show the connection between ideas

 Similarly, paragraphs are linked by transition signals to show the connection between paragraphs

 Transition signals are verbal signposts which show the reader the links between your ideas

 They direct the flow of thought in the essay and help the reader follow the line of argument

 They are the links in a chain of connected ideas

 Transition signals add cohesion and fluency to your writing

Adding to a point already made:

 moreover, in addition, furthermore, in fact, besides, similarly…

Writing about a series of points:

 firstly, to begin with, secondly, another, in addition, next, lastly, finally

Introducing a different view:

 alternatively, rather, on the other hand, conversely, on the contrary

Introducing examples:

 for example, as follows, including, especially, notably, in particular

Indicating cause and effect:

 therefore, accordingly, as a result, consequently, for this reason, hence

Summing up or concluding:

 in short, to conclude, in conclusion, to sum up, in brief, overall, in all

ECF6110 Business Finance 16/09/2014

It is impossible to write a

good report by writing just one draft

Report writing involves preparing an outline which will help you to organise your

thoughts

Then write a draft report

Read your draft

critically and edit your work several times

Proofread the final draft

Write a first draft Read and edit

online

Print a hard copy for all team members

Reread and check for:

•Logic and coherence (does it make sense, does the data support your conclusions and recommendations?)

Correct spelling, grammar and punctuation

Check for:

 Meaning – clear line of argument, cohesion

 and logical flow of ideas

 Structure – introduction, order of

 paragraphs, conclusion

 Evidence – research, examples

 References – direct and indirect quotes

 Style – academic language

 Punctuation, spelling and grammar

 Presentation – correct format

 You must correctly reference your text book, lecture notes, websites and any other sources referred to in your report

 Use in‐text referencing in the body of the report and end‐text referencing at the end

 In‐text referencing is used for direct or indirect quotes

 End‐text referencing refers to a list of all sources referred to in your work

 Refer to ECU online referencing guide http://www.ecu.edu.au/learning‐and‐ development/assets/files/downloads/refguide.pdf

 Clear structure – appropriate headings

 Good looking – format, font, presentation

 Well written – appropriate language, easy to read and understand

 Logical – convincing line of reasoning

 Cohesive – flows well

 Accurate data

 Properly referenced

 Call a team meeting to discuss your report and decide on your approach

 Make an appointment to see your lecturer, tutor or the Learning Skills Advisor

ECF6110 Business Finance 16/09/2014

Crosling, G.M., Murphy, H. M., Cotesta, P. V., Sands, J. (2005). Writing and presenting in accounting. (2nd ed) Sydney, LexisNexis Butterworths.

May C & G, (2009) Effective Writing , A Handbook for Accountants, 8th edn, New Jersey, Pearson Prentice Hall.