TH5MD329 Financial Fundamentals : Overview of Financial Management

You are required to complete and submit the assessment task as specified below. Your work should be presented as an informal report of approximately 2000 words, exclusive of your calculations, written in the third person (impersonal), correctly referenced and with an accurate references list.

Assessment Objectives/Rationale:

This assessment is designed to provide you with a comprehensive overview of financial management in a service sector industry.

Scenario

The Sustainable Vegan is a Restaurant is based in Wood Plumpton in Lancashire.  The restaurant has built up a reputation for offering good quality, ethically sourced food at reasonable prices and markets itself on social media as being ‘clean and green’.  

As one of the two owners, you are in charge of the finances of the restaurant.

Notes:

The Sustainable Vegan achieved a Net Profit target of 9% of turnover for the year ended 31^st August 2020.

The Net Profit achieved for the year 2019 was 11% of turnover, and for the year 2018 Net Profit was 14 % of turnover.

The gross profit achieved for 2020 was 59%.  In 2019 and 2018, gross profit reported was 62% and 68% respectively.