TMA 03

1 – Briefly explain the general purpose of each of the three financial statements (the income statement, the balance sheet and the cash flow statement) and the usefulness of each of them for a business like Toothsome Ltd. (20 marks)

2 – Analyse the financial statements that have been prepared by Toothsome Ltd’s accountant:

(a) the income statement, identifying significant changes between the two years and carrying out any calculations that might assist in your analysis. (15 marks)

(b) the balance sheet, which you should analyse to assess the financial health of the business. (15 marks)

(c) the cash flow statement, identifying the significant cash movements over the two-year period it covers and focusing in particular on how cash generated from profitable trading activity has been utilised in the business. (10 marks)

(d) what particular issues arising from your analysis are most likely to give the company’s bank manager cause for concern? (10 marks)

3 – What are the potential consequences of the bank manager’s concerns, and what practical proposals should Dai Jones now make in order to meet those concerns? (20 marks)

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