Agri Credit Clinic. New Entrants Work-Shop. Moorepark 25 th April Bank of Ireland is regulated by the Central Bank of Ireland

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Agri Credit Clinic. New Entrants Work-Shop. Moorepark 25 th April 2013. Bank of Ireland is regulated by the Central Bank of Ireland"

Transcription

1 Agri Credit Clinic New Entrants Work-Shop Moorepark 25 th April 2013 Bank of Ireland is regulated by the Central Bank of Ireland

2 Pillars of the credit application process Pillar 1 The Foundation Business Plan Pillar 2 The Build The Application The Financials Repayment Capacity The Security Pillar 3 The Handover The Decision Appeals Process 2

3 Pillar 1. The Foundation

4 Pillar 1: Business Plan Business Plan: The purpose of a business plan is to: Establish the fundamental viability of the project, e.g. Land purchase, farm development proposal. Document a plan for the farm, outline medium and long term objectives Act as a yardstick for measuring progress Communicate plans for the business to outsiders, e.g. your bank manager. A business plan summarises the following points about any business: Where it has come from / Where is it now / Where is it going in the future How it intends to get there How much money it needs to fulfil its plans What makes it likely to succeed What threats or disadvantages must be overcome on the way The ability of the promoter (farmer) to implement and deliver the plan 4

5 Pillar 1: Business Plan What Constitutes a Good Plan? Business Plan should contain the following sections: Background and description of the farm Management and organisation; (who does what on the farm) Operations plan (what needs to happen and who will make it happen) Financial plan (cash flow / project budget) Points to note: Business plans need to be realistic neither overly optimistic nor complicated What If?.Sensitivity Analysis and Plan B 5

6 Pillar 2. The Build

7 Pillar 2 : Assessing the credit application Farmer & Purpose of loan facility proposed? Background, experience, skillset of farmer What is the purpose of the facility? How much is required? For how long is the facility required? Owners Input? What asset is being financed? What type of repayment schedule is required (important to match repayments to farm cash flow) What are the main sources of repayments? Is the facility secured on the asset being financed? Market Assumptions Based on Business Plan 7

8 Pillar 2: Supporting the credit application Financial information required by the Bank & why: Up to date Farm accounts (multiple years are preferable) May not be available for new entrants Management accounts / Profit Monitors (if available) Bank statements (if new to bank customers) Confirmation of direct payments (SFP, REPS, DAP, etc.) Confirmation of off farm income & tax affairs Projections (especially where future cash flow will differ dramatically from historic norms) Particularly relevant for new entrants. Information requested to make the right decision for the bank and the customer 8

9 Pillar 2: Farm Accounts: Profit and Loss The profit and loss account shows how much profit (or loss) the farm made in a given period (usually a year) The Components of the P/L Account are: Turnover 250, ,000 Cost of Sales 150, ,000 Gross Profit 100, ,000 Expenses 77,000 90,000 Profit before tax 23,000 20,000 Tax 3,000 2,600 Profit after tax 20,000 17,400 Use Profit & Loss Statement and look out for: Turnover trends Gross Profit & Net Profit trends (significant variances need to be explained) Expenses (any once off expenses) 9

10 Pillar 2: Cashflow Analysis Cashflow analysis: It is used to report the cash generated and used by a farm / business during a specified period Cashflow is the life blood of any business or farm and many cases of business failures have been as a result of running out of cash Profitability does not always mean liquidity as cash can be absorbed by: Working Capital (as above) and/or Capital Expenditure and/or Excessive Drawings/Dividends Weather and feed cost factors have impacted farm cash flow in 2012 /

11 Pillar 2: Projections Experience shows that projections are overly optimistic Are the turnover figures and margins based on past performance? Are the projections a best or worst case scenario? Are the assumptions realistic and based on solid research? Do financials provided back up previous projections? Is the breakeven level known? Does the information provided indicate ability to repay existing and proposed debt? 11

12 Pillar 2: Establishing Repayment Capacity Primary focus when analysing financial statements is to establish the level of risk attaching to existing or proposed borrowings, but more particularly, to estimate if repayment capacity exists at present and is likely to exist throughout the period of the borrowings Cannot rely solely on historical figures (particularly for new entrants to dairying) so must forecast what some key figures will look like in the future What we are really assessing is the farm s ability to service the debt and be able to continually do so Stress testing - rationale? Reflects the robustness of an entity s repayment capacity against future increases in interest rates 12

13 Pillar 2: Repayment Capacity Calculation. Profit before Tax 45,000 Plus: + Depreciation 6,000 + Lease Interest Payments (from P & L) 2,000 + Bank Interest 4,000 + Non Recurring Expenses 10,000 Less: 67,000 - Non Recurring Income - - Less Grant Amortisation - = Cash generated 67,000 Less: - Total Loan Repayments (current & proposed) 12,000 - Overdraft/Stocking term loan interest 2,000 - Leasing Payments (for the coming year) 10,000 - Tax 8,000 - Drawings (NB does the drawings figure include tax) 20,000 Funds available after servicing all debts 15, Amount ( )

14 Repayment Capacity (contd.) Repayment capacity is the key lending consideration: Historical Projected CASH IN Enterprise income (dairy, beef, cereals, etc) Single Farm Payment, area based compensation, etc. Non farm income (PAYE typically) CASH OUT Drawings (including taxation) Existing farm loan repayments Existing home loan / personal loan repayments Proposed new loan repayments CASH IN > CASH OUT FOR LOAN APPROVAL

15 Pillar 2: Security Bank takes security to mitigate risk but the most important question is whether the customer can repay the loan Level of security dependent upon: Extent of the exposure Type of facility provided Term of facility Borrower s own cash input Bank s evaluation of the level of risk involved 15

16 Pillar 2: Security Main Security Types in Farming: Life Policy Lien on Deposits Land Fixed Legal Charge (most common farm lending security) Asset as Security e.g. leasing Personal Letters of Guarantee for Ltd Co debt owners commitment Debentures Floating & Fixed 16

17 Pillar 3. The Handover

18 Pillar 3: The Decision & Appeals Process We aim to have a decision within 3 working days of an application: Dependent on complexity of application and when all required information is received. If you are unhappy with the decision you can ask for the application to be reviewed by a Senior Underwriter (internal appeals process) If the decline decision is sustained you should receive a decline letter with reasons and are informed of your right to contact the Credit Review Office The Credit Review Office has been established to offer independent advice and arbitration to borrowers who have had their request for credit turned down by a bank. See for eligibility criteria. 18

19 2012 / 2013 farm cash flow We recognise the additional costs in the system during 2012 and Spring Additional volumes of feed required. + Higher price per tonne = HIGHER WORKING CAPITAL REQUIREMENT. Cash flow squeeze now. Happy to support cash flow where overall operation is viable

20 Current Account Balance Current Account Impact Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Month Overdraft Limit Average Year 2012/2013

21 Answer the W s Who / What needs to be paid? When does payment need to be made? What impact will this have on my current account? Will I need additional funding/extension of overdraft limits, etc?

22 Conclusions Bank of Ireland optimism for agri sector; volatility will play a role. Long term commitment means a Long term view. Extensive nationwide branch network. Capital & appetite to support the development of the agri. Sector. 22

23 Thank You Questions :

HOSPIRA (HSP US) HISTORICAL COMMON STOCK PRICE INFORMATION

HOSPIRA (HSP US) HISTORICAL COMMON STOCK PRICE INFORMATION 30-Apr-2004 28.35 29.00 28.20 28.46 28.55 03-May-2004 28.50 28.70 26.80 27.04 27.21 04-May-2004 26.90 26.99 26.00 26.00 26.38 05-May-2004 26.05 26.69 26.00 26.35 26.34 06-May-2004 26.31 26.35 26.05 26.26

More information

Median and Average Sales Prices of New Homes Sold in United States

Median and Average Sales Prices of New Homes Sold in United States Jan 1963 $17,200 (NA) Feb 1963 $17,700 (NA) Mar 1963 $18,200 (NA) Apr 1963 $18,200 (NA) May 1963 $17,500 (NA) Jun 1963 $18,000 (NA) Jul 1963 $18,400 (NA) Aug 1963 $17,800 (NA) Sep 1963 $17,900 (NA) Oct

More information

THE UNIVERSITY OF BOLTON

THE UNIVERSITY OF BOLTON JANUARY Jan 1 6.44 8.24 12.23 2.17 4.06 5.46 Jan 2 6.44 8.24 12.24 2.20 4.07 5.47 Jan 3 6.44 8.24 12.24 2.21 4.08 5.48 Jan 4 6.44 8.24 12.25 2.22 4.09 5.49 Jan 5 6.43 8.23 12.25 2.24 4.10 5.50 Jan 6 6.43

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS*

COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) CHARTERED BANK ADMINISTERED INTEREST RATES - PRIME BUSINESS* COMPARISON OF FIXED & VARIABLE RATES (25 YEARS) 2 Fixed Rates Variable Rates FIXED RATES OF THE PAST 25 YEARS AVERAGE RESIDENTIAL MORTGAGE LENDING RATE - 5 YEAR* (Per cent) Year Jan Feb Mar Apr May Jun

More information

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015

AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 AT&T Global Network Client for Windows Product Support Matrix January 29, 2015 Product Support Matrix Following is the Product Support Matrix for the AT&T Global Network Client. See the AT&T Global Network

More information

Need to know finance

Need to know finance Need to know finance You can t hide from it Every decision has financial implications Estimating sales and cost of sales (aka direct costs) Gross Profit and Gross Profit Margin (GPM) Sales cost of sales

More information

NAV HISTORY OF DBH FIRST MUTUAL FUND (DBH1STMF)

NAV HISTORY OF DBH FIRST MUTUAL FUND (DBH1STMF) NAV HISTORY OF DBH FIRST MUTUAL FUND () Date NAV 11-Aug-16 10.68 8.66 0.38% -0.07% 0.45% 3.81% 04-Aug-16 10.64 8.66-0.19% 0.87% -1.05% 3.76% 28-Jul-16 10.66 8.59 0.00% -0.34% 0.34% 3.89% 21-Jul-16 10.66

More information

Educational Efforts With FAST Tools

Educational Efforts With FAST Tools Educational Efforts With FAST Tools By Paul N. Ellinger 1 farmdoc companion project initiated in 1999 FAST Tools Development of spreadsheet-based tools to aid decisions for producers, lenders, consultants

More information

Business Plan Planning Service Financial Analyses and Projections

Business Plan Planning Service Financial Analyses and Projections Business Plan Planning Service Financial Analyses and Projections Financials Included With Every Ceo Resource Plan These are the financial analyses and projections that are included with all plans developed

More information

Training Manual: The Basics of Financing Agriculture

Training Manual: The Basics of Financing Agriculture Training Manual: The Basics of Financing Agriculture Acknowledgement The Agriculture Finance Training Manual is part of AgriFin s Agriculture Finance Training Tools. The Manual was developed by IPC - Internationale

More information

NAVIGATOR A business overview and financial guide for stakeholders in the SME market

NAVIGATOR A business overview and financial guide for stakeholders in the SME market NAVIGATOR A business overview and financial guide for stakeholders in the SME market XYZ Limited ( the Company ) Report for ABC Bank plc ( the Bank ) XX July 2012 ABC Limited ( the Company ) Report for

More information

IGCSE Business Studies revision notes Finance Neil.elrick@tes.tp.edu.tw

IGCSE Business Studies revision notes Finance Neil.elrick@tes.tp.edu.tw IGCSE FINANCE REVISION NOTES Table of contents Table of contents... 2 SOURCES OF FINANCE... 3 CASH FLOW... 5 HOW TO CALCULATE THE CASH BALANCE... 5 HOW TO WORK OUT THE CASH AVAILABLE TO THE BUSINESS...

More information

Knowledge is Power The Business Mindset The nitty gritty of understanding your cash flow CCIQ Webinar 28 October 2015

Knowledge is Power The Business Mindset The nitty gritty of understanding your cash flow CCIQ Webinar 28 October 2015 Knowledge is Power The Business Mindset The nitty gritty of understanding your cash flow CCIQ Webinar 28 October 2015 Webinar Presenter Jason Krenske Partner at Ulton Jason has worked with many businesses

More information

S&P Year Rolling Period Total Returns

S&P Year Rolling Period Total Returns S&P 500 10 Year Rolling Period Total Returns Summary: 1926 June 2013 700% 600% 500% 400% 300% 200% 100% 0% 100% Scatter chart of all 931 ten year periods. There were 931 ten year rolling periods from January

More information

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8

Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138. Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 1 of 138 Exhibit 8 Case 2:08-cv-02463-ABC-E Document 1-4 Filed 04/15/2008 Page 2 of 138 Domain Name: CELLULARVERISON.COM Updated Date: 12-dec-2007

More information

SEB s Swedish Residential Mortgage Lending and Covered Bonds. Stockholm September, 2013

SEB s Swedish Residential Mortgage Lending and Covered Bonds. Stockholm September, 2013 SEB s Swedish Residential Mortgage Lending and Covered Bonds Stockholm September, 2013 Contents SEB s Residential Mortgage Lending p.3 Asset Quality p.19 Cover Pool and Covered Bond Funding p.24 2 SEB

More information

Sailing Option 1. Day Trip Timetable: Poole to Guernsey. Colour Key Time XX:XX = Fast Ferry. Time XX:XX = Commodore Clipper.

Sailing Option 1. Day Trip Timetable: Poole to Guernsey. Colour Key Time XX:XX = Fast Ferry. Time XX:XX = Commodore Clipper. Day Trip Timetable: Poole to Guernsey Sailing Option 1 Departure Return Sailing Date Depart Arrive Depart Arrive December 2016 Mon 19-Dec 08:00 11:00 15:10 18:10 20-Dec Wed 21-Dec 09:15 12:15 16:25 19:25

More information

www.pwc.com Beyond Sport Online Learning Session Toolkit: Budgeting and Forecasting

www.pwc.com Beyond Sport Online Learning Session Toolkit: Budgeting and Forecasting www.pwc.com Beyond Sport Online Learning Session Toolkit: Budgeting and Forecasting What is financial management? Financial management can be defined as managing the finances of an organisation in order

More information

Financial Statement Consolidation

Financial Statement Consolidation Financial Statement Consolidation We will consolidate the previously completed worksheets in this financial plan. In order to complete this section of the plan, you must have already completed all of the

More information

White Paper. ALM: Manage Your Interest Rate Risk From the Bottom Up

White Paper. ALM: Manage Your Interest Rate Risk From the Bottom Up White Paper ALM: Manage Your Interest Rate Risk From the Bottom Up Use asset and liability management (ALM) software and effective business practices to manage interest rate risk. As a credit union leader,

More information

Start Your. Business Business Plan

Start Your. Business Business Plan Start Your Waste Recycling Business A TECHNICAL STEP-BY-STEP-GUIDE OF HOW TO START A COMMUNITY-BASED WASTE RECYCLING BUSINESS Start Your Waste Recycling Business Business Plan INTERNATIONAL LABOUR OFFICE

More information

Analysis One Code Desc. Transaction Amount. Fiscal Period

Analysis One Code Desc. Transaction Amount. Fiscal Period Analysis One Code Desc Transaction Amount Fiscal Period 57.63 Oct-12 12.13 Oct-12-38.90 Oct-12-773.00 Oct-12-800.00 Oct-12-187.00 Oct-12-82.00 Oct-12-82.00 Oct-12-110.00 Oct-12-1115.25 Oct-12-71.00 Oct-12-41.00

More information

Biotechnology Yes Finance

Biotechnology Yes Finance Biotechnology Yes Finance Who? Jane Nolan MBE Entrepreneur and Enterprise Educator supporting the work of Newcastle University Careers Service MD Venture Coaching and Consulting Ltd 2nd Year PGR Your Business

More information

KEY COMPONENTS - Financial projections. Table B7.1 - Financial projections

KEY COMPONENTS - Financial projections. Table B7.1 - Financial projections KEY COMPONENTS - Financial projections Block A Historic cost profit and loss Table B7.1 - Financial projections 1 Total Income m 2 Surplus (before interest) m Full line title Total Income Full line title

More information

Preparing A Cash Flow Statement

Preparing A Cash Flow Statement Preparing A Cash Flow Statement By: Norm Dalsted and Rod Sharp Colorado State University It is highly unlikely you would attempt to drive to Detroit, Michigan, without first consulting a road map. You

More information

ANNEXURE 1 STATUS OF 518 DEMAT REQUESTS PENDING WITH NSDL

ANNEXURE 1 STATUS OF 518 DEMAT REQUESTS PENDING WITH NSDL ANNEXURE 1 STATUS OF 518 DEMAT REQUESTS PENDING WITH NSDL Sr. No. Demat Request No.(DRN) DP ID Client ID Date of Demat Request Received Quantity Requested Date of Demat Request Processed No. of days of

More information

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017

Enhanced Vessel Traffic Management System Booking Slots Available and Vessels Booked per Day From 12-JAN-2016 To 30-JUN-2017 From -JAN- To -JUN- -JAN- VIRP Page Period Period Period -JAN- 8 -JAN- 8 9 -JAN- 8 8 -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- -JAN- 8-JAN- 9-JAN- -JAN- -JAN- -FEB- : days

More information

FINANCIAL TOOLKIT INTRODUCTION & USER GUIDE. January 1

FINANCIAL TOOLKIT INTRODUCTION & USER GUIDE. January 1 January 1 FINANCIAL TOOLKIT 2014 A toolkit or Trainers Guide in the form of a series of separate Modules grouped progressively into four levels of training for delivery as workshops. The Guide is flexible

More information

Bank of Ghana Monetary Policy Report. Financial Stability Report

Bank of Ghana Monetary Policy Report. Financial Stability Report BANK OF GHANA E S T. 1 9 5 7 Bank of Ghana Monetary Policy Report Financial Stability Report Volume 5: No.1/2013 February 2013 5.0 Introduction Conditions in global financial markets have improved significantly

More information

LeSueur, Jeff. Marketing Automation: Practical Steps to More Effective Direct Marketing. Copyright 2007, SAS Institute Inc., Cary, North Carolina,

LeSueur, Jeff. Marketing Automation: Practical Steps to More Effective Direct Marketing. Copyright 2007, SAS Institute Inc., Cary, North Carolina, Preface. Overview. PART 1: Marketing Financials. Chapter 1 Profit and Loss Fundamentals. Chapter 2 Profit and Loss Component Details. Chapter 3 Managing the P&L. Chapter 4 Measuring Marketing Effectiveness.

More information

CHAPTER 27. Short-Term Financial Planning. Chapter Synopsis

CHAPTER 27. Short-Term Financial Planning. Chapter Synopsis CHAPTER 27 Short-Term Financial Planning Chapter Synopsis 27.1 Forecasting Short-Term Financing Needs The first step in short-term financial planning is to forecast the company s future cash flows. This

More information

Interest Rates. Countrywide Building Society. Savings Growth Data Sheet. Gross (% per annum)

Interest Rates. Countrywide Building Society. Savings Growth Data Sheet. Gross (% per annum) Interest Rates (% per annum) Countrywide Building Society This is the rate of simple interest earned in a year (before deducting tax). Dividing by 12 gives the monthly rate of interest. Annual Equivalent

More information

CARE HOME SAMPLE PACK LIMITED

CARE HOME SAMPLE PACK LIMITED MANAGEMENT ACCOUNTS For the month of May 2010 1 KPIs Registered beds: 45 Jan-10 Feb-10 Mar-10 Apr-10 Jun-10 Jul-10 Aug-10 Sep-10 Oct-10 Nov-10 Dec-10 Year to Date Average Occupancy 43.50 43.00 41.30 41.90

More information

Determining the dates that expenditure is incurred for PIC cash payout purposes

Determining the dates that expenditure is incurred for PIC cash payout purposes As announced in the Budget 2016, the PIC scheme will lapse after YA 2018. Expenditure incurred after YA 2018 will therefore, not qualify for PIC. In addition, the cash payout rate will be reduced from

More information

COE BIDDING RESULTS 2009 Category B Cars >1600 cc

COE BIDDING RESULTS 2009 Category B Cars >1600 cc Quota System A COE BIDDING RESULTS 2009 B Jan-2009 Quota 1,839 1,839 1,100 1,099 274 268 409 411 767 758 Successful bids 1,784 1,832 1,100 1,097 274 260 401 386 763 748 Bids received 2,541 2,109 1,332

More information

Reacting to the Challenges: Business Strategies for Future Success. Todd S. Adams, Chief Executive Officer Adams Bank & Trust Ogallala, Nebraska

Reacting to the Challenges: Business Strategies for Future Success. Todd S. Adams, Chief Executive Officer Adams Bank & Trust Ogallala, Nebraska Reacting to the Challenges: Business Strategies for Future Success Todd S. Adams, Chief Executive Officer Adams Bank & Trust Ogallala, Nebraska Adams Bank & Trust Family Owned for 95 Years $525 Million

More information

BUSINESS LOAN APPLICATION

BUSINESS LOAN APPLICATION BUSINESS LOAN APPLICATION Superior National Bank & Trust Company 235 Quincy Street, P.O. Box 450 Hancock, MI 49930 phone 906.482.0404 toll-free 1.866.482.0404 1 INTRODUCTION Thank you for considering Superior

More information

Preliminary Results. 3 March 2015

Preliminary Results. 3 March 2015 Preliminary Results 3 March 2015 Matthew Price Chief Financial Officer Trading strongly & investing in technology Revenue EBITDA (adjusted) EPS (adjusted) 248M 95M 12.3p 10% 13% 14% Capital Investment

More information

Integrated Financial Plan FY2012

Integrated Financial Plan FY2012 Integrated Financial FY Delivering The new reality The fiscal year Integrated Financial (IFP) has an Operating with a projected Operating Loss of $3.0 billion, versus a loss of $2.2 billion in, despite

More information

Financial Accounting for the Hospitality, Tourism and Retail Sectors Slide Handouts Chapter 15. Luby & O Donoghue (2005)

Financial Accounting for the Hospitality, Tourism and Retail Sectors Slide Handouts Chapter 15. Luby & O Donoghue (2005) Cash Flow Statements Chapter 15 1 Luby & O Donoghue (5) Cash is king profits can be manufactured by creative accounting but creating cash is impossible. Terry Smith, Accounting for Growth 2 Typical cash

More information

BUSINESS PLAN GUIDE. Send completed business plans to:

BUSINESS PLAN GUIDE. Send completed business plans to: BUSINESS PLAN GUIDE Send completed business plans to: Waubetek Business Development Corporation 6 Rainbow Ridge Road P.O. Box 209 Birch Island, ON P0P 1A0 1-800-665-2248 toll-free (705) 285-4275 phone

More information

Financial Analysis. Financial Analysis

Financial Analysis. Financial Analysis Financial Analysis Eliciting information from the financial statements of a firm. Type of information sought depends on the person or firm involved. Who is interested? - Management for planning and evaluating.

More information

Hedging Milk with BFP Futures and Options

Hedging Milk with BFP Futures and Options Curriculum Guide I. Goals and Objectives A. Gain an understanding of milk price seasonality. B. earn about basis and how to track it over time. C. earn how to hedge future milk sales with BFP futures and

More information

INVESTING IN NZ BONDS

INVESTING IN NZ BONDS INVESTING IN NZ BONDS August 2008 Summary Historically active NZ bond managers have achieved returns about 0.6% p.a., before tax and fees, above that of the NZ government stock index. While on the surface

More information

how to finance the business

how to finance the business A DV I C E B O O K L E T how to finance the business HOW TO FINANCE THE BUSINESS Getting enough of the right funding is one of the more difficult tasks that you will face as a new entrepreneur. Typically,

More information

The table below shows Capita Asset Services forecast of the expected movement in medium term interest rates:

The table below shows Capita Asset Services forecast of the expected movement in medium term interest rates: Annex A Forecast of interest rates as at September 2015 The table below shows Capita Asset Services forecast of the expected movement in medium term interest rates: NOW Sep-15 Dec-15 Mar-16 Jun-16 Sep-16

More information

Cash flow lesson suggestions & activities - CIMA

Cash flow lesson suggestions & activities - CIMA Cash flow lesson suggestions & activities - CIMA Learning outcomes Students should... Understand the structure of a cash flow forecast (AO1) and evaluate cash flow forecasts as decision making tools (AO3/4)

More information

Example of a diesel fuel hedge using recent historical prices

Example of a diesel fuel hedge using recent historical prices Example of a diesel fuel hedge using recent historical prices Firm A expects to consume 5,, litres of diesel fuel over the next 12 months. Fuel represents a large expense for the firm, and volatile prices

More information

Chapter. Statement of Cash Flows For Single Company

Chapter. Statement of Cash Flows For Single Company Chapter 4 Statement of Cash Flows For Single Company 4.1 Single company statement of cash flows Statement of cash flows are primary financial statements and are required along side the income statement

More information

Guide to Business Planning

Guide to Business Planning Voluntary Sector Support Guide to Business Planning PROMOTING EXCELLENCE IN VOLUNTARY AND COMMUNITY SERVICES www.communityimpactbucks.org.uk Community Impact Bucks is a registered charity no:1070267 company

More information

tutor2u Cash Management How and Why Businesses Need to Manage their Cash AS & A2 Business Studies PowerPoint Presentations 2005

tutor2u Cash Management How and Why Businesses Need to Manage their Cash AS & A2 Business Studies PowerPoint Presentations 2005 Cash Management How and Why Businesses Need to Manage their Cash AS & A2 Business Studies PowerPoint Presentations 2005 Importance of Cash (1) A business can exist for a while without making profits but

More information

Your business plan. helping you with your business planning and forecasting. Name of business. Date when completed

Your business plan. helping you with your business planning and forecasting. Name of business. Date when completed Your business plan helping you with your business planning and forecasting Name of business Date when completed Please read the following notes before completing the form. (You may wish to talk to an accountant

More information

Understanding Invoice Finance

Understanding Invoice Finance Understanding Invoice Finance Agenda Introduction ABFA Jargon Busting What is Invoice Finance Factoring Invoice Discounting Invoice Finance Products Who uses Invoice Finance? Main terms Advantages & Disadvantages

More information

Guidance to SMEs Applying for Credit from Banks

Guidance to SMEs Applying for Credit from Banks Credit Review Office Guidance to SMEs Applying for Credit from Banks 1. Introduction According to recent surveys commissioned by the Department of Finance, SME supply and demand for credit in Ireland has

More information

Financing Your Business. 27 th May 2015 John Irwin Head of AIB SME Strategy & Enablement

Financing Your Business. 27 th May 2015 John Irwin Head of AIB SME Strategy & Enablement Financing Your Business 27 th May 2015 John Irwin Head of AIB SME Strategy & Enablement TARGET RETURNS Funding Provider Returns VS. Risk Private Equity c.25% Venture Capital c.25% Property c.10% - 12%

More information

Company Overview. Financial Performance

Company Overview. Financial Performance Jan/15 Feb/15 Mar/15 Apr/15 May/15 Jun/15 Jul/15 Aug/15 Sep/15 Oct/15 Nov/15 Dec/15 SPS Finquest Ltd CMP: 84.60 January 13, 2015 Stock Details BSE code 538402 BSE ID SPS Face value ( ) 10 No of shares

More information

5.1.1 Cash flow Accounting concepts for measuring liquidity

5.1.1 Cash flow Accounting concepts for measuring liquidity 5 HOW DO I MEASURE THE FINANCIAL PERFORMANCE OF MY FARM BUSINESS? 72 5.1 Liquidity 5.1.1 Cash flow 5.1.2 Accounting concepts for measuring liquidity 5.2 Efficiency 5.2.1 Accounting concepts for measuring

More information

Application for Business Credit

Application for Business Credit Application for Business Credit Please complete all relevant sections of the Application form and attach copies of requested information to ensure we are in the best possible position to assess your lending

More information

IFRS 9 FINANCIAL INSTRUMENTS (2014) INTERNATIONAL FINANCIAL REPORTING BULLETIN 2014/12

IFRS 9 FINANCIAL INSTRUMENTS (2014) INTERNATIONAL FINANCIAL REPORTING BULLETIN 2014/12 IFRS 9 FINANCIAL INSTRUMENTS (2014) INTERNATIONAL FINANCIAL REPORTING BULLETIN 2014/12 Summary On 24 July 2014, the International Accounting Standards Board (IASB) completed its project on financial instruments

More information

Read Through The Letters of Paul in 2016

Read Through The Letters of Paul in 2016 Read Through The Letters of Paul in 2016 JANUARY Jan 1: Romans 1:1-6 Jan 2: Romans 1:7-11 Jan 3: Romans 1:12-17 Jan 4: Romans 1:18-22 Jan 5: Romans 1:23-28 Jan 6: Romans 1:29-32 Jan 7: Romans 2:1-7 Jan

More information

Investing in Bonds challenges and opportunities in 2015

Investing in Bonds challenges and opportunities in 2015 For Financial Brokers and Advisors Only Investing in Bonds challenges and opportunities in 2015 March 2015 Andy Ivory-Corr, QFA, Grad Dip, CFP Head of Investments New Ireland Assurance What exactly is

More information

A guide to the Lending Code

A guide to the Lending Code A guide to the Lending Code For micro-enterprises Introduction This guide gives you an introduction to the standards you should expect from banks, building societies and credit-card providers who follow

More information

Guidelines for Minimum Standards Property Management Planning. Financial Management Module

Guidelines for Minimum Standards Property Management Planning. Financial Management Module Guidelines for Minimum Standards Property Management Planning Financial Management Module June 2011 June 2011 Acknowledgements All stakeholders who contributed to the development of the Financial Management

More information

Higher National Unit specification: general information

Higher National Unit specification: general information Higher National Unit specification: general information Unit code: H0C0 35 Superclass: AL Publication date: May 2012 Source: Scottish Qualifications Authority Version: 01 Unit purpose This Unit is designed

More information

Report under Section 80(1) of the Banking Act 2009 on the Dunfermline Building Society (DBS) Bridge Bank

Report under Section 80(1) of the Banking Act 2009 on the Dunfermline Building Society (DBS) Bridge Bank BANK OF ENGLAND Report under Section 80(1) of the Banking Act 2009 on the Dunfermline Building Society (DBS) Bridge Bank July 2010 1 Report under Section 80(1) of the Banking Act 2009 on the DBS Bridge

More information

ASSET BASED LENDERS STAYING AHEAD IN AN EVER-CHANGING MARKET FEATURING THE NEW BDO ABL MONITORING DASHBOARD

ASSET BASED LENDERS STAYING AHEAD IN AN EVER-CHANGING MARKET FEATURING THE NEW BDO ABL MONITORING DASHBOARD i ASSET BASED LENDERS STAYING AHEAD IN AN EVER-CHANGING MARKET FEATURING THE NEW BDO ABL MONITORING DASHBOARD ii CONTENT MEETING THE CHALLENGE 1 THE BDO ABL MONITORING DASHBOARD 2 THE BALANCE SHEET MARKET

More information

Suffolk County Market Updates

Suffolk County Market Updates Suffolk County Market Updates November 2016 Closed Median Sale Price........ 2 Pending Median Sale Price........ 3 Number of Closed ly Transactions........ 4 Number of Pending ly Transaction........ 5

More information

7. Foreign Investments in India

7. Foreign Investments in India 93 Foreign Investments in India ISMR 7. Foreign Investments in India Introduction From 1992, Foreign Institutional Investors (FIIs) have been allowed to invest in all securities traded on the primary and

More information

Ratio(%) change 1 RELIANCE GROWTH FUND 31-Jan-13 Refer Note 1 Institutional. Equity

Ratio(%) change 1 RELIANCE GROWTH FUND 31-Jan-13 Refer Note 1 Institutional. Equity Sl. No. Scheme Name Plan Effective Type of Annual Recurring Expense Date of Scheme Ratio(%) change 1 RELIANCE GROWTH FUND 31-Jan-13 Refer Note 1 Institutional Institutional Plan Lower by RELIANCE GROWTH

More information

Analyzing Cash Flows. April 2013

Analyzing Cash Flows. April 2013 Analyzing Cash Flows April 2013 Overview Introductions Importance of cash flow in underwriting decisions Key attributes to calculating cash flow Where to obtain information to calculate cash flows Considerations

More information

State Cashflow Management

State Cashflow Management Informational Paper 77 State Cashflow Management Wisconsin Legislative Fiscal Bureau January, 2009 State Cashflow Management Prepared by Dave Loppnow Wisconsin Legislative Fiscal Bureau One East Main,

More information

Coal India Ltd. Subdued e-auction realization impacted profitability BUY. Nov. 17, 2015

Coal India Ltd. Subdued e-auction realization impacted profitability BUY. Nov. 17, 2015 17-Nov-14 17-Dec-14 17-Jan-15 17-Feb-15 17-Mar-15 17-Apr-15 17-May-15 17-Jun-15 17-Jul-15 17-Aug-15 17-Sep-15 17-Oct-15 Coal India Ltd. Subdued e-auction realization impacted profitability Coal India Ltd.

More information

CASH BUDGETS & PROJECTED INCOME STATEMENTS

CASH BUDGETS & PROJECTED INCOME STATEMENTS SESSION 10: CASH BUDGETS & PROJECTED INCOME STATEMENTS KEY CONCEPTS: In this session we will look at: - Users of Budgets - Purpose of Analysing the Monthly Cash Budgets - How to do a Monthly Cash Budget

More information

CREDIT VALUES CREDIT LIMIT 2,900 CREDIT RATING 2,400

CREDIT VALUES CREDIT LIMIT 2,900 CREDIT RATING 2,400 Business report generated at 16/09/2015 11:56:43 12345678 : SAMPLE LIMITED OVERALL CREDIT SCORE 56 Below Average Risk CREDIT VALUES CREDIT LIMIT 2,900 CREDIT RATING 2,400 KEY SCORE FACTORS 2 POSITIVE 2

More information

OPERATING FUND. PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS September 30, 2015 RENDELL L. JONES CHIEF FINANCIAL OFFICER

OPERATING FUND. PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS September 30, 2015 RENDELL L. JONES CHIEF FINANCIAL OFFICER PRELIMINARY & UNAUDITED FINANCIAL HIGHLIGHTS September 30, 2015 RENDELL L. JONES CHIEF FINANCIAL OFFICER MANAGEMENT OVERVIEW September 30, 2015 Balance Sheet Cash and cash equivalents had a month-end balance

More information

There is a common problem:

There is a common problem: Cost to Acquire the Customer (CAC) Profit from that Customer (LTV) For subscription revenue businesses = the value of that customer over their lifetime This number takes into account the COGS or cost to

More information

Business Plan. Your Business Name

Business Plan. Your Business Name Business Plan Your Business Name Owners Address City, ST ZIP Code Telephone Fax E-Mail Date: Page 2 II. Executive Summary Write this section last. We suggest that you make it one page long; two pages max.

More information

FINANCIAL RESULTS Q1 2012. 16 May 2012

FINANCIAL RESULTS Q1 2012. 16 May 2012 FINANCIAL RESULTS Q1 2012 16 May 2012 Highlights Q1 2012 Satisfactory Q1 financials underlying EBITDA and profit before tax on a par with Q1 2011 - Lower power prices partly offset by increased power generation

More information

STATEMENT 7: BUDGET FUNDING

STATEMENT 7: BUDGET FUNDING STATEMENT 7: BUDGET FUNDING The Government indicated in the 22-3 Budget that it would consider the future of the Commonwealth Government Securities (CGS) market, in consultation with key stakeholders.

More information

Accounting and Reporting Policy FRS 102. Staff Education Note 1 Cash flow statements

Accounting and Reporting Policy FRS 102. Staff Education Note 1 Cash flow statements Staff Education Note 1: Cash flow Statements Accounting and Reporting Policy FRS 102 Staff Education Note 1 Cash flow statements Disclaimer This Education Note has been prepared by FRC staff for the convenience

More information

Chapter 18 Working Capital Management

Chapter 18 Working Capital Management Chapter 18 Working Capital Management Slide Contents Learning Objectives Principles Used in This Chapter 1. Working Capital Management and the Risk- Return Tradeoff 2. Working Capital Policy 3. Operating

More information

Financial. Management FOR A SMALL BUSINESS

Financial. Management FOR A SMALL BUSINESS Financial Management FOR A SMALL BUSINESS Welcome 1. Agenda 2. Ground Rules 3. Introductions FINANCIAL MANAGEMENT 2 Objectives Explain the concept of financial management and its importance to a small

More information

Cash Flow Budget: What Will It Tell Me? *

Cash Flow Budget: What Will It Tell Me? * Purdue Extension Knowledge to Go Cash Flow Budget: What Will It Tell Me? * How much financing will your farm business require this year? When will money be needed, and from where will it come? A little

More information

ebrief for freelancers and contractors Contractors guide to investing surplus cash

ebrief for freelancers and contractors Contractors guide to investing surplus cash ebrief for freelancers and contractors Contractors guide to investing surplus cash Making the most of your Surplus Cash Intouch Accounting, the personal online accountant, looks at this all important question

More information

ModelOff 2013 Questions and Answers

ModelOff 2013 Questions and Answers Hard Times Question Appeared in: ModelOff 2013 Round 2 Time Allocated: 40 minutes INTRODUCTION Slick Micks Toys Inc, is the manufacturer of a type of action figure moderately popular with kids between

More information

www.srsd.mb.ca FINANCIAL SERVICES REQUEST FOR PROPOSAL November 17, 2010 475a Senez Street Winnipeg, Manitoba R0A 0Y0 204-878-4713

www.srsd.mb.ca FINANCIAL SERVICES REQUEST FOR PROPOSAL November 17, 2010 475a Senez Street Winnipeg, Manitoba R0A 0Y0 204-878-4713 Seine River School Division www.srsd.mb.ca 475a Senez Street Winnipeg, Manitoba R0A 0Y0 204-878-4713 FINANCIAL SERVICES REQUEST FOR PROPOSAL November 17, 2010 Page 1 of 9 Seine River School Division is

More information

BUSINESS PLAN. for. Name: Address: Date:

BUSINESS PLAN. for. Name: Address: Date: BUSINESS PLAN for Name: Address: Date: Executive Summary Last part to write! Brief / Concise / Relevant Tailor to audience Key messages / paragraphs Introduction / Description Benefits Market Research

More information

ebrief for freelancers and contractors Borrowing company money

ebrief for freelancers and contractors Borrowing company money ebrief for freelancers and contractors Borrowing company money The facts behind the Directors Loan Account Taking money from the business for personal use when trading as a partnership or sole trader is

More information

Loan Consolidation. Mark Riggs

Loan Consolidation. Mark Riggs Loan Consolidation Mark Riggs Bedford Springs, October 12-14, 2015 Introduction Today's students are graduating with loan balances as large as a home mortgage, but unlike a mortgage, student debt is typically

More information

1. 2015 Gross Borrowing Requirements and Funding Plan

1. 2015 Gross Borrowing Requirements and Funding Plan 1 1. 2015 Gross Borrowing Requirements and Funding Plan 1.1 Gross Borrowing requirements The Treasury expects its 2015 gross borrowing requirements to amount to EUR 39.90 billion. This represents an increase

More information

Repayment Capacity Sensitivity Analysis Using Purdue Farm Financial Analysis Spreadsheet

Repayment Capacity Sensitivity Analysis Using Purdue Farm Financial Analysis Spreadsheet Repayment Capacity Sensitivity Analysis Using Purdue Farm Financial Analysis Spreadsheet ABSTRACT Many agricultural producers purchased capital items the past few years and some used borrowed funds to

More information

Ashley Institute of Training Schedule of VET Tuition Fees 2015

Ashley Institute of Training Schedule of VET Tuition Fees 2015 Ashley Institute of Training Schedule of VET Fees Year of Study Group ID:DECE15G1 Total Course Fees $ 12,000 29-Aug- 17-Oct- 50 14-Sep- 0.167 blended various $2,000 CHC02 Best practice 24-Oct- 12-Dec-

More information

Mohave Community College Small Business Development Center Financial Statement Spreadsheet Program

Mohave Community College Small Business Development Center Financial Statement Spreadsheet Program Mohave Community College Small Business Development Center Financial Statement Spreadsheet Program Copyright (c) 1998 NPC SBDC Table of Contents 1.0 Overview 2.0 Basic Structure of the program 3.0 Why

More information

Financial analysis of customer accounts

Financial analysis of customer accounts 2 Financial analysis of customer accounts this chapter covers... The last chapter outlined the need for an organisation granting credit to obtain and analyse the financial accounts of: n a prospective

More information

Inflation in IRAN Overview & Forecast

Inflation in IRAN Overview & Forecast Research, Planning and Budgeting Division Economic Research Unit Feb. 2016 Inflation in IRAN Overview & Forecast Q1-2016 No.5 Research, Planning and Budgeting Division Economic Research Unit June. 2016

More information

Information Booklet for Small and Medium Enterprises in Financial Difficulty

Information Booklet for Small and Medium Enterprises in Financial Difficulty Information Booklet for Small and Medium Enterprises in Financial Difficulty This Information Booklet applies to Finance Ireland Credit Solutions Ltd t/a Finance Ireland Commercial Mortgages and Finance

More information

NAB Community Microfinance. NAB Microenterprise Loans Minimum requirements for business plans

NAB Community Microfinance. NAB Microenterprise Loans Minimum requirements for business plans NAB Community Microfinance NAB Microenterprise Loans Minimum requirements for business plans Money Magazine s Best of the Best Awards 2009 judged NAB Microenterprise Loans for the second year running,

More information

Cash Flow Statements

Cash Flow Statements Compiled Accounting Standard AASB 107 Cash Flow Statements This compiled Standard applies to annual reporting periods beginning on or after 1 July 2007. Early application is permitted. It incorporates

More information

QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015

QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015 QNB FINANCE LTD INTERIM CONDENSED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2015 Independent Auditors' Report on Review of Interim Condensed Financial Statements to the Shareholder of QNB

More information