IBN Ltd Case Study - Planning And Budgeting Report Writing - Business Management Assignment Help

Assignment Task

Case Study  I B N Ltd

Having all recently been made redundant, Ian, Bob and Nigel decide to set up a  “customer-focused” information technology services agency based in Ruritania1. The new business will design and deliver IT-enabled business solutions. They want to grow  the business rapidly with minimal investment and hence they propose to co-ordinate a  group of self-employed consultants. The consultants will be completely customer focused to maximize the generation of fees, with Ian, Bob and Nigel providing a  professional and efficient marketing and administrative support service. They agree  some medium term goals: annual sales of €10m, at a 30% EBIT margin by 2020. They  form a limited company, IBN Ltd., and each of them subscribe for 20,000 €1 shares in  order to start the business on 1st July.

You are a firm of management consultants and Ian, Bob and Nigel have sought your  advice about the process of budgeting generally and about the amount of additional  finance they will need from their bank. They show you their market research and  provide you with the following estimates relating to the first 6 months of trading:

Prepare a presentation and a consultant’s report suitable for Ian, Bob and Nigel  covering the following issues: 

1. Explain why careful planning and budgeting is essential for business success and briefly advise Ian, Bob and Nigel how to get the best results from the  planning and budgeting process. 

2. Use the pro-forma spreadsheet provided to prepare a cash flow forecast for the  first 6 months of trading, and to prepare a forecast income statement for the 6  months to 31 December, and forecast statement of financial position as at 31  December. 

3. The bank has agreed to a maximum overdraft facility of €50,000. On the basis of the cash flow forecast produced you are to advise Ian, Bob and Nigel.

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