| Category | Assignment | Subject | Finance |
|---|---|---|---|
| University | Buckinghamshire New university | Module Title | BM414 Financial Decision Making |
| Assignment No. and Type | CW1: Coursework 2500 words |
| Submission Time and Date | Friday, 14th June 2024 by 2 pm. |
| Target Feedback Time and Date | 3 weeks after the submission deadline |
Central Asia Metals (CAML) plc is a base metals producer listed on the AIM market of the London Stock Exchange with copper operations in Kazakhstan and a zinc and lead mine in North Macedonia. The company is incorporated in the United Kingdom (based in London) and raised approximately £48 million at IPO in September 2010. This capital was used to build the Kounrad recovery plant in central Kazakhstan. In November 2017, the company completed the acquisition of the Sasa zinc and lead mine in North Macedonia for a total consideration of approximately £315 million.
Assume that the company is now planning to expand further and build another extraction plant in Uzbekistan within the next five (5) years. The company estimates that it would need to raise approximately £120 million for this project.
Task 1
Suppose you are part of the Accounting and Finance team at Central Asia Metals (CAML) plc. You are required to write a report to the senior management team of CAML plc, discussing the importance of accounting and finance functions, roles, and duties within CAML plc concerning both reporting and decision-making aspects. Your discussion should include some examples within the company where appropriate.
Task 2
Using the financial statements of Central Asia Metals (CAML) plc. presented below, complete the following tasks:
Using the results from your calculations, comment on the company’s performance based on the results from and position between the two (2) years from (a), mentioning possible causes, reasons, and effects for the changes in the ratios. In this section, please incorporate the discussion on the company’s performance from an investor perspective, assuming that the company is planning to build another extraction plant in Uzbekistan within the next five (5) years and would need to raise approximately £120 million for this project.
(60 marks)
The summarised financial statements of Central Asia Metals (CAML) plc.
Please note that these are simplified statements and the figures used are not taken from the real accounts
|
Income Statement |
For the year ended 31 Dec 2021 |
For the year ended 31 Dec 2022 |
||
|
|
£000 |
£000 |
£000 |
£000 |
|
Sales revenue |
|
190,600 |
|
190,200 |
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Cost of sales |
|
|
|
|
|
Opening inventory |
18,800 |
|
10,450 |
|
|
Purchases |
62,150 |
|
76,700 |
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|
|
80,950 |
|
87,150 |
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|
Less: Closing inventory |
(10,450) |
(70,500) |
(13,150) |
(74,000) |
|
Gross profit |
|
120,100 |
|
116,200 |
|
Operating expenses |
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(45,400) |
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(64,700) |
|
Finance cost |
|
(4,500) |
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(3,000) |
|
Net profit |
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70,200 |
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48,500 |
|
Statement of financial position |
As at 31 December 2021 |
As at 31 December 2022 |
||
|
|
£000 |
£000 |
£000 |
£000 |
|
Non-current assets |
|
367,100 |
|
372,600 |
|
Current assets |
|
|
|
|
|
Inventory |
10,450 |
|
13,150 |
|
|
Receivables – trade |
12,200 |
|
13,700 |
|
|
Prepayments |
3,550 |
|
1,550 |
|
|
Cash |
49,200 |
75,400 |
25,200 |
53,600 |
|
|
|
442,500 |
|
426,200 |
|
Issued share capital |
|
1,800 |
|
1,800 |
|
Share premium account |
|
152,000 |
|
152,000 |
|
Retained earnings |
|
182,000 |
|
194,500 |
|
|
|
335,800 |
|
348,300 |
|
Non-current liabilities |
|
|
|
|
|
5% loan notes |
|
90,000 |
|
60,000 |
|
Current liabilities |
|
|
|
|
|
Payables – trade |
16,550 |
|
17,570 |
|
|
Accruals |
150 |
16,700 |
330 |
17,900 |
|
|
|
442,500 |
|
426,200 |
Marks will also be awarded for Structure and Presentation skills. The structure includes the orderly presentation of relevant material. In addition, the extent of the research is evidenced by the appropriateness and adequacy of in-text referencing. There must be a Cover Page and Contents Page, executive summary, sections with Introduction, Conclusion, List of References and pages must be numbered.
(10 marks)
Please note that the word count excludes the cover page, the contents page, executive summary, Formulas and calculations in Task 2 (b), list of references, and appendices (if there are any).
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Assessment Criteria From your report, you will obtain marks for the following: |
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Level of discussion of the functions/roles/duties of accounting and finance team within the company with appropriate examples. (Task 1, LO1) |
30% |
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Level of explanation of financial statements and their main elements supporting with example figures and trends from the company statements. (Task 2 (a), LO2) |
15% |
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Accuracy and correctness of ratio calculation over the two-year period. (Task 2 (b), LO3) |
15% |
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Level of analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the discussion on the company’s performance from an investor perspective. (Task 2 (c), LO4) |
30% |
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Structure and presentation of the work and referencing (report format, clarity of expression, referencing). |
10% |
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This assignment has been designed to provide you with an opportunity to demonstrate your achievement of the following module learning outcomes: |
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LO 1: Demonstrate knowledge of the role of finance and accounting within the organisation concerning both reporting and decision-making aspects. |
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LO 2: Explain the structure of and terms used within the financial statements. |
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LO 3: Calculate the main accounting ratios and explain their significance to users of financial statements. |
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LO 4: Apply management accounting techniques for planning, control and decision making within. the organisation. |
Please reference your work according to the Harvard style as defined in Cite Them Right Online. This information is also available in book form: Pears, R. and Shields, G. (2019) Cite them right: the essential reference guide. 11th edition. Basingstoke: Palgrave Macmillan. Copies are available via the University library.
There are also documents on Harvard referencing on Blackboard which students can read. Students must use acceptable academic sources including peer-reviewed journal articles, Books, Company websites, etc.
Your work will be assessed against the assessment criteria which have been provided at the end of this brief.
These criteria have been designed specifically for this assignment and are intended to measure the extent to which you have demonstrated your achievement of its associated learning outcomes (see above). They have been aligned with the institutional grade descriptor appropriate for your level.
The assessment criteria provide a basis for fair and consistent marking and indicate what is expected of you in this assignment. It is strongly recommended that you engage with them while you are working on the assignment and use them in combination with any feedback you receive once your work has been marked to help you plan for future learning and development.
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Fail |
Fail |
Pass |
Pass |
Pass |
Pass |
Pass |
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Criteria |
0-34 (F) – Fail |
35-39 E – Marginal fail |
40-49 (D) |
50-59 (C) |
60-69 (B) |
70-79 (A) |
80-100 (A+) |
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Not successful |
Below required standard |
Satisfactory |
Good |
Very Good |
Excellent |
Outstanding |
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Task 1 (LO1) 30% This should include: · Depth of knowledge and understanding of the role of Accounting and Finance within the organisation with respect to both reporting and decision-making aspects. · Level of discussion of the functions, roles, duties of accounting and finance team within the company with appropriate examples. |
The work demonstrates a limited and/or substantially inaccurate or no understanding of the role of Accounting and Finance functions, roles, and duties within the organisation with respect to both reporting and decision- making aspects. Poor or inadequate discussion of the functions, roles, duties of accounting and finance team within the company with limited or no appropriate examples. |
The work demonstrates insufficient understanding of the role of Accounting and Finance functions, roles, and duties within the organisation with respect to both reporting and decision- making aspects. Weak or very weak discussion of the functions, roles, duties of accounting and finance team within the company with limited or no appropriate examples. |
The work demonstrates a basic yet systematic understanding of the role of Accounting and Finance functions, roles, and duties within the organisation with respect to both reporting and decision- making aspects. Satisfactory discussion of the functions, roles, duties of accounting and finance team within the company with limited or no appropriate examples. |
The work demonstrates a sound or good understanding of the role of Accounting and Finance functions, roles, and duties within the organisation with respect to both reporting and decision- making aspects. Sound or good discussion of the functions, roles, duties of accounting and finance team within the company with limited or no appropriate examples. |
The work demonstrates a sophisticated and critical systematic understanding of the role of Accounting and Finance functions, roles, and duties within the organisation with respect to both reporting and decision- making aspects.
Very good discussion of the functions, roles, duties of accounting and finance team within the company with limited or no appropriate examples. |
The work demonstrates a highly accomplished systematic understanding of the role of Accounting and Finance functions, roles, and duties within the organisation with respect to both reporting and decision- making aspects.
Excellent discussion of the functions, roles, duties of accounting and finance team within the company with limited or no appropriate examples. |
The work demonstrates an exceptional systematic understanding of the role of Accounting and Finance functions, roles, and duties within the organisation with respect to both reporting and decision- making aspects. Outstanding discussion of the functions, roles, duties of accounting and finance team within the company with limited or no appropriate examples. |
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Task 2 (a) (LO2) 15% · Level of explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
Poor or inadequate explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
Weak explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
Satisfactory explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
Good explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
Very good explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
Excellent explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
Outstanding explanation of financial statements and their main elements supporting with example figures and trends from the company statements. |
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Task 2 (b) (LO3) 15% · Accuracy and correctness of ratio calculation over the two-year period. |
Inaccurate or incorrect or no calculation of the main ratios; significant mistakes are present in calculations throughout, or ratios may be missing from the calculation. |
Inaccurate or incorrect calculation of the main ratios with significant mistakes in calculations; some ratios may be missing from the calculation. |
Satisfactory calculation of the main ratios; some mistakes may be present in the calculations; some ratios may be missing from the calculation. |
Sound or good calculation of the main ratios; some insignificant errors may be present in calculations; most of the ratios are calculated over the two-year period. |
Very good calculation of the main ratios; no significant errors are present in calculations; mostly all ratios are calculated over the two- year period. |
Excellent calculation and presentation of the main ratios; no significant errors are present in calculations; all ratios are calculated correctly over the two- year period. |
Outstanding calculation and presentation of the main ratios; no errors are present in calculations; all ratios are calculated correctly over the two-year period. |
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Task 2 (c) (LO4) 30% This should include: · Level of analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios.
· Level of discussion on the company’s performance from an investor perspective. |
The work demonstrates poor or no analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios; there could be significant gaps in the discussion. There is poor or no discussion on the company’s performance from an investor perspective; there could be significant gaps in the discussion. |
The work demonstrates weak or very weak analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios; significant aspects may be missing from the discussion.
There is weak or very weak discussion on the company’s performance from an investor perspective; significant aspects may be missing from the discussion. |
The work demonstrates satisfactory analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios; however, some aspects may be missing from the discussion.
There is satisfactory discussion on the company’s performance from an investor perspective; however, some aspects may be missing from the discussion. |
The work demonstrates sound/ good analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios; some insignificant aspects may be missing from the discussion.
There is sound or good discussion on the company’s performance from an investor perspective; some insignificant aspects may be missing from the discussion. |
The work demonstrates very good analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios; no significant aspects are missing from the discussion.
There is very good discussion on the company’s performance from an investor perspective; no significant aspects are missing from the discussion. |
The work demonstrates excellent analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios.
There is excellent discussion on the company’s performance from an investor perspective. |
The work demonstrates outstanding analysis and discussion of the results from the calculation of the ratios in relation to company performance between the two years, including the possible causes, reasons and effects for the changes in the ratios. There is outstanding discussion on the company’s performance from an investor perspective. |
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Structure and Presentation 10% This should include evidence of: · Structure and presentation of the work, including introduction and conclusion · Clarity of expression and written communication · Quality and relevance of sources · Referencing style |
LOs are not met. The work is far too short. Very poor or unclear structure and presentation; not in a Report format; missing conclusion or introduction.
Poor expression and written communication There is very limited range of relevant and appropriate scholarly sources or no recent research.
Poor referencing style; does not conform to Harvard style. |
LOs are not fully met. The work is too short. Poor or unclear structure and presentation; possibly missing or poor conclusion or introduction.
Weak or very weak expression and written communication
There is very limited range of relevant and appropriate scholarly sources or very limited/ no recent research.
Poor referencing style; does not conform to Harvard style. |
Satisfactory attempt overall. LOs are met. However, the work may be a little short; conclusion and introduction could do with some improvement.
Satisfactory structure and presentation; conclusion and introduction may need improvement.
Satisfactory expression and written communication, but there could be some issues with academic writing. There is satisfactory range of relevant and appropriate scholarly sources and some recent research.
Referencing style conforms to Harvard style, but there could be some errors in Harvard referencing style. |
Sound or good attempt overall. LOs are met; word count is generally met; conclusion and introduction are good.
Well-structured report and good presentation; conclusion and introduction.
Clear expression and written communication, but there could be some small issues with academic writing.
There is a sound or good range of relevant and appropriate scholarly sources and some recent research.
Referencing style conforms to Harvard style, but there could be some small errors in Harvard referencing style |
Very good attempt overall. LOs are met; word count is appropriate; conclusion and introduction are very good.
Very well-structured report and very good presentation; conclusion and introduction are very good. Clear expression and written communication, no major issues with academic writing.
There is a very good range of relevant and appropriate scholarly sources, and the work is informed by recent research. Referencing style conforms to Harvard style. |
Excellent attempt overall. LOs are met; word count is appropriate; conclusion and introduction are excellent.
Excellent report structure, presentation; conclusion and introduction. Very clear expression and written communication, no issues with academic writing.
There is an excellent range of relevant and appropriate scholarly sources, and the work is informed by recent research.
Referencing style fully conforms to Harvard style. |
Outstanding attempt overall. LOs are met; word count is appropriate; conclusion and introduction are outstanding. Outstanding report structure, presentation; conclusion and introduction.
Very clear expression and written communication, no issues with academic writing.
There is an outstanding range of relevant and appropriate scholarly sources, and the work is informed by recent research. Referencing style fully conforms to Harvard style. |
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