Biglow toy company six month financial plan

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Biglow toy company six month financial plan

To cope with the Christmas sales peak, Jean planned to build up Biglows toy inventory throughout the fall. This would generate substantial cash deficits in October, November, and December. Some means of short-term financing had to be found to cover these deficits. On the other hand, Jean anticipated a cash surplus in January and February, when Biglows retailers paid their Christmas invoices.

A small cash surplus was also anticipated in September as a result of over-the-summer toy purchases. Jean tried to maintain a minimum balance in Biglows cash account throughout the year.

This was to protect against errors in estimating both the size and timing of future cash flows. The planned minimum balance was normally set as a fixed percentage of each months anticipated dollar sales volume.

This procedure had proven adequate in the past against virtually all contingencies.

Except for deciding how to finance the fall buildup in inventory, Jean had already completed a six-month financial plan. This covered the period September through February Selected portions of the plan are shown in the table below.

If Biglows payments are delayed, the discount will be lost, and actual payments will exceed planned payments, accordingly. The cash surplus and deficit figures shown in the table are net of all other operations, including anticipated sales receipts, planned payments for purchases, and all other planned receipts and payments.

These figures are also net of the standard provision for each months minimum cash balance. Each of the surplus and deficit figures shown in the table represents the incremental not cumulative surplus or deficit anticipated during that month.

As anticipated in Exhibit 1, Jean has three sources of short-term borrowing to meet Biglows monthly cash needs. A local bank has agreed to loan Biglow funds at the beginning of any month against a pledge of its accounts receivable balance.

Whatever is borrowed, if anything, must be returned to the bank at the beginning of the next month, plus an interest payment of 1. Payments to suppliers for purchases may be delayed for a maximum of one month. Whatever portion, if any, of these planned payments is delayed would become available to finance the anticipated deficit from operations during November.

However, Jeans own policy strictly forbids delaying payments more than one month beyond the month when they are supposed to be paid.

If such a loan is taken, the entire loan will be received by Biglow at the beginning of September and repaid at the end of February. Once taken, it is not possible to increase the loan nor to repay any portion of it during the six-month period. At the end of every month, Jean inspects the current balance in Biglows cash account.

Whatever excess funds remain over and above the minimum balance planned for the next month are invested immediately in day government securities.

Securities are purchased at the beginning of the next month and sold at the end of that month.completed a six-month financial plan. This covered the period September through February Selected portions of the plan are shown in the table below. Documents Similar To Case Biglow Toy Company.

Biglow toy company six month financial plan

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Biglow toy company six month financial plan

Children's Educational Toys Business Plan ToyLearn is a small business with a desire to grow that specializes in educational toys for children. The company identifies its' keys to success as: the need to develop educational and engaging toys, the adopting of strict financial controls to maximize cash flow, and the need to listen to feedback.

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