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Interest Payable On Long And Short- Term Loans Is Accrued At 10% Per Annum: Finance Assignment

Interest payable on long and short- term loans is accrued at 10% per annum. Short-term loan repayments to be made are

Interest payable on long and short- term loans is accrued at 10% per annum. Short-term loan repayments to be made are $2, 500, 000 at the end of October 2019 and $2,500,000 at the end of January 2020. A half-year interest of $8,000,000 is payable in January 2020.

Depreciation (a manufacturing cost) runs at $700,000 a month and the cost of sales is 70% of sales. Materials used during September 2019 and October 2019 are expected to be $11,000,000 for each month. The corporation tax on profits can be calculated at 50%. A corporation tax of $5,000,000 is expected to be paid in December.

  1. Prepare a forecast profit and loss account for the two months of September and October and a forecast balance sheet as at 31 October 2019.
  2. Prepare a cash budget for the managing director for September 2019 to February 2020 to determine the phasing of the cash flows that would result from his action plan.
  3. Draft a report for the managing director that makes use of the analyses that you have carried out to consider arguments both for and against customer terms of 30 days or 60 days, Your report should also consider some of the wider financial and non-financial factors in addition to the cash flow impact of both scenarios.
Depreciation (a manufacturing cost) runs at $700,000 a month and the cost of sales is 70% of sales
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