The definitions of Financial Management in Business - Free Essay Example

Sample details Pages: 7 Words: 1990 Downloads: 4 Date added: 2017/06/26 Category Economics Essay Type Compare and contrast essay Did you like this example? Financial management can be defined by: The management of the finances of a business/organization in order to achieve financial objectives. Taking a commercial business as the most common organizational structure the key objectives of financial management would be as follows:- Create wealth for the business. Generate cash and Provide an adequate return on investment bearing in mind the risks that the business is taking and the resources invested. There are three keys elements to the process of financial management:- Financial planning Financial control and Financial decision making FINANCIAL PLANNING: Management need to ensure that enough funding is available at the right time to meet the needs of the business. In the short term funding may be needed to invest in equipment and stocks pay employees and fund sales made on credit. Don’t waste time! Our writers will create an original "The definitions of Financial Management in Business" essay for you Create order FINANCIAL CONTROL: Financial control is a critically important activity to help the business ensure that the business is meeting its objectives financial control addresses question such as:- Are assets being used efficiently? Are the businesses assets secure? Does management act in the best interest of shareholders and in accordance with business rules? FINANCIAL DECISION MAKING: The keys aspects of financial decision-making relate to investment, financing and dividends:- Investments must be financed in some way. However there are always financing alternatives that can be considered. For example it is possible to raise finance from selling new shares, borrowing from banks or taking credit from suppliers. If dividends are too high, the business may be starved of funding to reinvest in growing revenues and profit further. KINGFISHER AIRLINES: INTRODUCTION: Kingfisher airline is one of the seven airlines to be ranked as a five-star airline by the independent research consultancy firm Skytrax. They operate more than 375 daily flights to 71 destinations, with regional and long-haul international services. In May 2009, they also carried more than a million passengers, giving it the highest market share among airlines in India. They also the sponsor of F1 racing outfit, which Vijay Malaya also owns. Kingfisher airlines serve 63 domestic destinations in 8 countries across Asia and Europe. Their short haul routes are mostly domestic apart from some cities in south Asia, Southeast Asia and western Asia. All short haul routes are operated on the airbus A320 family aircraft ATR 42S and ATR 72S are used mainly on domestic regional routes. They have its medium, long haul destination in East Asia, South Asia and Europe. Its first long haul destination was London, United Kingdom. This was launched in September 2008. It has plans to launch new l ong haul flights to cities in Africa, Asia, Europe, North America and Oceania with deliveries of new aircraft. All long haul routes are operated on the airbus 330-200. DEPT. FINANCING FOR A MEDIUM SIZED FOR BOTH THE SHORT -TERM AND LONG -TERM: SHORT TERM FINANCING: Short-Term Financing referring to any investment, financial plan, or anything else lasting for one year or less. Short-term investments and financial plans usually involve less uncertainly than long term investments and financial plan because generally speaking, markets trends are easily predictable for one year than for any longer period likewise, short term financial plans are more easily amendable, as a result of the short time frame short-term financial plans usually involve investing in short term securities, such as T-Bills or Commercial Paper. LONG-TERM FINANCING: Long-Term financing is describing a plan, strategy, security or anything else with a term of longer than one year, the exact number of year varies according to the usage. For example a long term financial plan outline investment and other financial goal for any time more than one fiscal year, while a long term bond has a maturity of 10 or more years. Anything long term involves more uncertainly than anything short-term because generally speaking, market trends are more easily predictable in the short-term. Thus, while planning for the long-term is necessary, ones plan must be flexible to account for its inherent uncertainly. EQUITY FINANCING: Equity financing is a term used for companys issuance of shares of common or preferred stock to raise money. It is also commonly done when its per share prices are high the most money that can be raised for the smallest number of shares. Equity financing also known as capital structure As we can see the equity financing or you can say capital structure of kingfisher airlines as shown in the chart. IMPORTANCE OF FINANCIAL MANAGEMENT: The management of the finances of a business/organization in order to achieve financial objectives. Taking a commercial business as the most common organizational structure the key objectives of financial management would be to as follows: Create wealth for the business. Generate cash, and Provide an adequate return on investment bearing in mind the risks that the business is taking and the resources invested. IMPORTANCE OF CREDIT CONTROL WITHIN A FINANCE DEPARTMENT: A strategy employed by manufacturers and retailers to promote good credit among the creditworthy and deny it to delinquent borrowers. This will both increases sales and decrease debts, thus improving a companys cash flow credits control is an important component in the overall profitability of many firms also known as credit management. Financial control is a critically important activity to help the business ensure that the business is meeting its objectives, financial control addresses question such as Are assets being used efficiently? Are the businesses assets secure? Does management act in the best interest of shareholders and in accordance with business rules? VARIABLE AND FIXED COSTS DURING ECONOMIC DOWNTURNS IN KINGFISHER AIRLINES: Buying the big jets: fleet planning for airline FLEET SIZE ECONOMICS: Fleet size economic alliance due to a major shift in their strategic direction. Although it was not the case, it could have been disasters if Aer lingus had allowed their fleet strategy to be driven by their alliance partners only to find themselves compromised upon leaving the alliances. Airline undoubted reap revenue benefits due to alliance membership but true cost savings in big tickets items such as fleet acquisition may be out of reach for all but a handful of airlines. There will always be institutional obstacles, such as union issues and manufacturing pricing strategies, to airline reaping the fleet cost savings that might be apparent on paper. THE PROBLEM OF EXTERNAL FACTORS: Airline economics have always been affected by external factors, some of which are conditioned of the geographical area in which airlines operate and some of which just conspire to make difficult. The huge fuel price increases of the 2000s affected the entire industry and even those airlines able to hedge the majority of their fuel bill were simply postponing the moment when the higher fuel prices ate into profit margins. INVESTING SPECIFIC AMOUNT OF MONEY IN FINANCIAL MANAGEMENT: There are three keys elements to the process of financial management:- Financial planning Financial control and Financial decision making FINANCIAL PLANNING: Management need to ensure that enough funding is available at the right time to meet the needs of the business. In the short term funding may be needed to invest in equipment and stocks pay employees and fund sales made on credit. FINANCIAL CONTROL: Financial control is a critically important activity to help the business ensure that the business is meeting its objectives financial control addresses question such as:- Are assets being used efficiently? Are the businesses assets secure? Does management act in the best interest of shareholders and in accordance with business rules? FINANCIAL DECISION MAKING: The keys aspects of financial decision-making relate to investment, financing and dividends:- Investments must be financed in some way. However there are always financing alternatives that can be considered. For example it is possible to raise finance from selling new shares, borrowing from banks or taking credit from suppliers. If dividends are too high, the business may be starved of funding to reinvest in growing revenues and profit further. PAYBACK AND DIVIDEND RATIO FOR KINGFISHER AIRLINES: PAYBACK RATIO: The amount of time taken to break even on an investment. Since this method ignores the time value of money and cash flows after the payback period, it can provide only a partial pictures of whether the investments is worthwhile. DIVIDEND RATIO: Five fundamentals reasons I am positive on dividends: Corporate earnings have significantly rebounded from their recessions level and are now approaching record levels low interest rates. Corporate cash on hand stands at an all time high payouts remain low, partly due to the speed of earnings improvements and the slower rate of dividend increases. Coverage rates, earnings dividends are very high. DIVIDEND AND PAYBACK RATIOS OF KINGFISHER AIRLINES: Dividend and payback ratios in RS.CR. JUNE 2007 MARCH 2008 MARCH 2009 MARCH 2010 Adjusted EPS -55.05 -18.64 -60.67 -48.5 Adjusted Cash EPS -51.81 -15.94 -54.22 -40.33 Reported EPS -30.97 -13.85 -60.5 -61.95 Reported Cash EPS -27.73 -11.16 -54.65 -53.78 Dividend Per Share 0 0 0 0 Operating Profit Per Share -19.37 -23.95 -20.8 -35.71 Net Operating Income Per Share 132.89 107.24 198.16 190.59 Free Reserves Per Share 15.46 2.68 -94.05 -167.98 Operating Margin -14.57 -22.32 -10.49 -18.75 Gross Profit Margin -15.55 -23.58 -13.02 -21.94 Net Profit Margin -22.92 -12.5 -27.43 -31.25 Adjusted Cash Margin -38.34 -14.38 -24.58 -20.34 Adjusted Return On Net Worth -209.52 -147.04 0 0 Reported Return On Net Worth -117.87 -109.29 0 0 Return On Long Term Funds -36.27 -36.52 -7.9 -23.99 Long Term Debt / Equity 0.98 3.54 0 0 Total Debt 2.38 4.95 0 0 Owners Funds 29.56 16.8 -63.14 -99.65 Fixed Assets Turnover Ratio 5.37 4.61 2.85 2.47 Current Ratio 2.33 1.71 1.09 1.34 Current Ratio (inc. st loans) 0.79 0.96 0.64 1.34 Quick ratio 2.2 0.87 0.52 0.57 Inventory Turnover Ratio 28.8 0 5,738.39 30.74 Dividend payout Ratio (net profit) 0 0 0 0 Dividend Payout ratio (cash profit) 0 0 0 0 Earning Retention Ratio 0 0 0 0 Cash Earning Retention Ratio 0 0 0 0 Adjusted Cash Flow Time Total Debt 0 0 0 0 Financial Charges Coverage Ratio -0.49 -0.63 0.02 -0.68 Financial Charges Coverage Ratio (post tax) 0.19 0.65 0.29 -0.3 Material Cost Component 2.55 3 0.97 0.8 Selling Cost component 0.99 5.83 12.97 0 Exports As Percent Of Total Sales 18.56 3.42 4.54 13.79 Import Comp. In Raw Materials Co nsumed 0 0 0 0 Long term Assets/Total Assets 0.01 0.03 -0.01 0 Bonus Component in Equity Capital (%) 20.14 20.09 10.26 10.26 PROFIT AND LOSS ACCOUNT OF KINGFISHER AIRLINES: profit and loss account in RS.CR. JUNE 2007 12 MONTHS MARCH 2008 9 MONTHS MARCH 2009 12 MONTHS MARCH 2010 12 MONTHS INCOME SALES TURNOVER 1,800.21 1,456.28 5,269.17 5,067.92 EXCISE DUTY 0 0 0 0 NET SALES 1,800.21 1,456.28 5,269.17 5,067.92 OTHER INCOME 342.1 113.62 598.9 -333.3 STOCK ADJUSTMENTS 0.00 0.00 0.00 0.00 TOTAL INCOME 2,142.31 1,569.00 5,868.07 4,734.62 Raw materials 45.94 43.79 51.19 40.89 Power and fuel costs 979.5 889.3 2,602.62 1,802.99 employee cost 247.72 244.96 825.42 689.38 Other manufacturing expenses 617.56 408.21 1,112.85 1,108.82 Selling and admin expenses 148.78 180.39 1,062.74 1,067.54 Miscellenous expenses 25.11 14.81 167.55 108.58 Preoperative exp capitalised 0.00 0.00 0.00 0.00 TOTAL EXPENSES 2,062.61 1,781.46 5,822.37 4,818.20 JUNE 2007 MARCH 2008 MARCH 2009 MARCH 2010 12 MONTHS 9 MONTHS 12 MONTHS 12 MONTHS OPERATING PROFIT -262.4 -325.18 -553.2 249.72 PBDIT 79.7 -211.56 45.7 -83.58 Interest 466.05 434.44 2029.33 2,243.39 PBDT -386.35 -646 -1,983.63 -2,329.17 Depreciation 17.67 18.28 133.2 162.8 Other written off 26.25 18.31 38.39 54.49 Profit before tax -430.27 -682.59 -2,155.22 -2,546.46 Extra ordinary items 14.09 -0.97 0 31.28 PBT(post extra ord items) -416.18 -683.56 2,155.22 -2,515.18 Tax 3.4 -494.45 -546.38 -770.69 REPORTED NET PROFIT -419.58 -188.14 -1,608.83 1,647.22 Total value addition 2,016.67 1,737.67 5,771.17 4,777.31 Preference dividend 0 0 0 0 Equity dividend 0 0 0.00 0.00 Corporate dividend tax 0 0 0 0 PER SHARE DATA (ANNUALIZED) Shares in issue(lakhs) 1,354.70 1,357.99 2,659.09 2,659.09 Earning per share(Rs) -30.79 -13.85 -60.5 -61.95 Equity dividend (%) 0 0 0 0 Book value (Rs) 28.4 13.9 -83.88 -150.54 CASH FLOW OF KINGFISHER AIRLINES: Cash flow account in RS.CR. JUNE 2007 12 MONTHS MARCH 2008 9 MONTHS MARCH 2009 12 MONTHS MARCH 2010 12 MONTHS NET PROFIT BEFORE TAX -416.18 -682.59 -2155.21 -2417.92 Net cash from operating activities -552.58 -541.52 -645.78 -1665.09 Net cash from investing activities 119.48 13.82 206.63 235.13 Net cash from financing activities 993.68 -9.23 290.11 1964.55 Net(decrease)/Increase in cash and cash equivalents 560.57 -536.93 -149.04 34.6 Opening cash and cash equivalents 256.47 817.05 -320.91 171.87 Closing cash and cash equivalents 817.05 280.12 171.81 206.47 CONCLUSION: After doing a study of this project representing on Kingfisher Airlines, I have come to a conclusion that Kingfisher Airlines is one of the largest and most widespread airlines of the country providing its services not only in India as well as outside India also. It has alliance with many other airlines in this sector. Kingfisher Airlines offers world class services to the customer at a nominal rate. The national carrier takes immense pride in having successfully played a pivotal role in making various facets of India popular with the people of the world and acting as the countrys cultural ambassador. The airline uses the services of one of the advanced plans been operated in the world. To sum up I would like to say that Kingfisher Airlines is serving its customer in an appreciated way and going to be in the list of best services providers in coming years

God Hates Same Sex Marriage Essay - 978 Words

Marriage is a precious gift given from the good lord up above. Marriage is a privilege that should be allowed to only a man and a woman. In the bible there are many scriptures that back up my opinion on marriage, and none of the scriptures say same sex marriage is okay. In this modern day and age people are altering the definition of marriage. People are trying to add between a man and a man or between a woman and a woman. The importance of my topic is to keep the original definition of marriage which is, a union between a woman and a man where they become husband and wife. In this paper I will claim that the new modern day definition of marriage is wrong and the original is right. One example of why the original†¦show more content†¦Marriage is simply between a woman and a man. In the bible there are many verses that says same sex marriage is wrong. Leviticus 20:13 states, â€Å"If a man has sexual relations with a man as one does with a woman, both of them have done what is detestable. They are to be put to death; their blood will be on their own heads.† (NIV) Though today’s age wouldn’t put people to death because of that sin, gay marriage is still very wrong. People are always fussing and begging for the same rights but it is detestable in Gods eyes. Gay marriage is wrong in every way possible. Many dictionaries are changing the definition of marriage. Merriam- Webster is an online dictionary and it has the original definition that states, â€Å"The relationship between a husband and a wife,† but it adds a few more. The most shocking one to me is, â€Å"a similar relationship between people of the same sex.† It blows my mind how people could go against the bible and change the meaning of marriage. This is one nation under God isn’t it? I wish this nation was based on the bible and not on the love of the world. 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The Vs. Recency Effect, Conformity, And Various Techniques...

Social psychology plays an important role in aspects of our everyday lives from the decisions we make to shaping our personality and behaviour. In this paper I will discuss a pressing example of one which is latest and most controversial presedential election that occurred in November at the resulting actions of the American people. These psychological concepts played a crucial role in many ways such as molding the voters’ minds which determined their actions and behaviours and playing on the psychology of the candidate’s opponents to gain the upper hand. The concepts I will discuss are the primacy vs recency effect, conformity, and various techniques in persuasion. Finally I will talk about how these techniques could be resisted and a more global use of these factors. The news article I have chosen discusses Presendential Election that occurred in November declaring Trump as the new president of the United States. 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Canada Essay Example For Students

Canada Essay CanadaHi my name is insert your name and Ill be writing about Canada. Canada is the greatest country in the world and it has been voted the best country in the world to live in for the past 3 years in a row by the United Nations. Canada consists of ten provinces and three territories, the newest territories is Nunavut. Nunavut is the land of the Indians (Natives). The capital of Nunavut is Iqaluit and it is located on Baffin Island. Canada has many professional sports teams in all the major sports except football. Some people say that the CFL is a professional football league but the players are mostly NFL rejects. Our sports teams for the NHL include the Vancouver Canucks, Edmonton Oilers, Calgary Flames, Toronto Maple leafs, Ottawa Senators, and the Montreal Canadians. Canadas most successful NHL team has been the Montreal Canadians, they have won an astonishing 23 Stanley Cups. Two NHL teams have left Canada because they were located in small markets, Canada has lost the Winnipeg Jets to Phoenix and we have also lost the Quebec Nordiqs to Colorado. Losing NHL teams to the U.S is a growing epidemic because players are demanding more and more money and the ticket prices are going up to accommodate the players demands. Another reason that we are going to lose more NHL teams is that the Government taxation on the Canadian teams, the Montreal Canadians alone have paid more taxes in a year than all the American tea ms combined, the Government has to let NHL teams pay less taxes then they are right now if anyone ever wants to see hockey in the small markets in Canada. The last reason hockey teams are being lost to the U.S is the declining Canadian dollar and the players wanting their money in U.S funds. I think that Canada is going to lose the Senators, the Oilers, and the Flames in the next ten years. Canada also has two NBA teams and they are the Vancouver Grizzlies and the Toronto Raptors. They are both relatively new teams, thee Grizzlies are going to build their team around Shareef Abdur-Rahim a young small forward and the Raptors are going to build their team around Vince Carter a young power forward. Finally, Canada has two MLB (Major League Baseball) teams, the teams are the Toronto Blue Jays and the Montreal Expos. Toronto has won two World Series titles and Joe Carter hit the winning homerun in the second World Series. The Montreal Expos have not been as successful as the Blue Jays but they were first in the whole league in the 1993-1994 season but the players went on strike in August. I think sports have always been a major part of Canada and it always will be. One thing I like about Canada is its multiculturalism, people from any country can come to Canada and practice their religion openly and freely. I like the Immigration policy because people can come into the country if they want too and if they have a good reason. I dont like it when people get into the country by sneaking in because they should try to get in the legal way. I think the Immigration system is being taken advantage of because of the recent rash of ships carrying illegal migrants. I think multiculturalism is the reason Canada is such a great country. There are numerous famous people from Canada and I will tell you about some of them. Some of the singers include, Shania Twain, Celine Dione, The Rascalz, Bryan Adams, Corey Hart, The Bare Naked Ladies, and The Tragically Hip. Some of the sports stars include, Wayne Gretzky, Dr. James Naismith (creator of basketball), Owen Hart, Bret Hart, and Patrick Roy. Some of the actors and actresses include, Michael J. Fox, Mike Myers, Jim Carey, and Pamela Anderson. .u49ccf8aeae22e1835a6552bd92b96425 , .u49ccf8aeae22e1835a6552bd92b96425 .postImageUrl , .u49ccf8aeae22e1835a6552bd92b96425 .centered-text-area { min-height: 80px; position: relative; } .u49ccf8aeae22e1835a6552bd92b96425 , .u49ccf8aeae22e1835a6552bd92b96425:hover , .u49ccf8aeae22e1835a6552bd92b96425:visited , .u49ccf8aeae22e1835a6552bd92b96425:active { border:0!important; } .u49ccf8aeae22e1835a6552bd92b96425 .clearfix:after { content: ""; display: table; clear: both; } .u49ccf8aeae22e1835a6552bd92b96425 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u49ccf8aeae22e1835a6552bd92b96425:active , .u49ccf8aeae22e1835a6552bd92b96425:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u49ccf8aeae22e1835a6552bd92b96425 .centered-text-area { width: 100%; position: relative ; } .u49ccf8aeae22e1835a6552bd92b96425 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u49ccf8aeae22e1835a6552bd92b96425 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u49ccf8aeae22e1835a6552bd92b96425 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u49ccf8aeae22e1835a6552bd92b96425:hover .ctaButton { background-color: #34495E!important; } .u49ccf8aeae22e1835a6552bd92b96425 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u49ccf8aeae22e1835a6552bd92b96425 .u49ccf8aeae22e1835a6552bd92b96425-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u49ccf8aeae22e1835a6552bd92b96425:after { content: ""; display: block; clear: both; } READ: Troy Versus Homers IlliadCanada has produced some of the best singers, actors, and sports figures in the world and I think this is a trend thats going to continue well into the next millennium. I think that its good that Canada isnt a nuclear country because that makes it so we have fewer enemies because were not a nuclear threat. I think that there are lots of stereotypes about Canadas weather, television and movies portray Canada as a cold snowy place but its not that bad. Its cold in most of Canada but in most of the area that is really cold is unpopulated. In the summer its hot and sunny, in the winter its cold and snowy, and in the spring its sunny and rainey. I think Canada is one of the best countries to live in and I wish I could live here for the rest of my life. . Category: Miscellaneous