Premium Essay

Management Accountability

In: Business and Management

Submitted By Shaheenuae
Words 614
Pages 3
Management, Control and Accountability for
Financial Resources

Assignment title: Plato Ltd

3000 words “the appendices are not included

Introduction

Plato Ltd manufacture PCs for the student market and are considered the regional market leader in the North West of England, which is home to some of the leading universities in the UK. The company pride themselves on delivering cutting-edge technology at affordable prices and with payment plans to suit students. However, in recent months several ‘spin-off’ companies have emerged from local universities that have really damaged the market share of Plato Ltd. The managing director, Jimmy Wong, is a good friend of yours and he has invited you for a coffee to discuss some ‘urgent accountancy matters’.

Jimmy shared with you the following Statement of Financial Position (balance sheet). He stated: “We had a really healthy position last year. Despite recently investing in developing the plant and machinery, we have become more efficient by cutting receivables, holding less stock, even honouring payables quicker than usual and restructuring long term debt. However, we are struggling so much that we have had to take out an overdraft and offload our current investments. I am really baffled as my Finance Director stated that we had made a profit this year.’’

Statement of Financial Position for Plato Ltd for year ending 31March2015

| | 2015 | | | 2014 | | £000 | | £000 | £000 | £000 | Tangible Non-current Assets(NBV) | | | 3,330 | | 2,500 | Current Assets | | | | | | Inventories | 570 | | | 650 | | Trade receivables | 420 | | | 570 | | Current investments | 20 | | | 350 | | Cash and bank | 10 | | 1,020 | 620 | 2,190 | | ----- | | ------- | ----- | ------- | Total Assets | | | 4,350 | | 4,690 | | | | ==== | | ==== | Non-current Liabilities | | | | | | 15%Debentures | | |…...

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