Argosy University Finance for Business Managing Business Finance Presentation

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Business Finance

Argosy University

Description

Week 3 - Assignment: Create a Quarterly Financial Plan and Budget for a Retail Warehouse Operation

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Instructions

Budgeting is a critical operational component of a manager’s duties. The implication of proper budgeting is that it allows companies to effectively plan for the management of resources within the context of product and goods delivery, while not losing sight of the need for cash flow. This concept will be reviewed again later in this course; in the meantime, cash flow is critically important to the health of a business. Being able to budget within the constraints of estimated and actual cash flow allows companies to spend no more than needed in operational functions for purchasing, producing, and delivering goods and services.

In this assignment, you will act as the warehouse manager for Tandy Leather Factory. You have been asked to present a quarterly budget and financial plan to the president of the company. To do this, you will need to examine last year’s financial statements, last quarter’s earnings, and this quarter’s estimated sales. You will use market analysis from Yahoo! Finance and the annual earnings report from last year. You will create a presentation of the budget using Microsoft PowerPoint. Your presentation should cover the cost of managing the inventory, shipping, warehouse machine maintenance (forklifts, pallet jacks, pallet wrapping machines, computers, handheld inventory devices, etc.), personnel costs for 75 employees, two office clerks, and two managers. Your budget will be based on an 8-hour work day, 5 days a week. You must include the cost for a 1-day shutdown of the warehouse for a quarterly inventory count.

Explanation & Answer:
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Explanation & Answer

Completed.

BUDGET PLAN
Student Name
Institution Affiliation
Course
Date

Tandy Leather Factory
■ Specialize as a wholesale and retail distributor of
leather as well as leather products
■ Has managed to create over 100 stores globally
■ Has its headquarters in Fort Worth, Texas
■ The Leather Factory acquired Tandy Leather in
2000

Last year’s financial statements
■ There was a 1.0% increase over fourth quarter for last year
amounting to $24.7 million

■ A decrease in gross merging from 62.4% in 2017 to 57.4% in
2018
■ $237,000 operating cost for 2018 Q4 due to increased costs in
impairment charges and closed stores
■ A totaled cash of $24.1 million at the end of Q4 in 2018

Strategic initiatives for budget plans
■ Help in driving long-term profit...


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