topik minggu 7

7/30/2019 Topik Minggu 7

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KURSUS:

BUDAYA KEUSAHAWANAN

(PPU 2052)

FAKULTI PERNIAGAAN DAN EKONOMI

JABATAN PENGURUSAN PERNIAGAAN

Caytys


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Topik :

Kemahiran Mengurus ProjekPerniagaan


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1. Mengenal pasti aspek operasi dan kewangan

2. Mengaplikasikan kemahiran menguruskan projek

perniagaan melalui penghasilan Rancangan

Perniagaan dan pelaksanaan projek inovasi

OBJEKTIF :

Di akhir bab ini, pelajar dapat :


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Production/

Operation Plan


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Production/ Operation Plan

Session Objectives

At the end of the session, participants should

be able to:

Understand the transformation process in a

production system

Design the process flowcharts for aparticular production system

Prepare the production/operation plan for

their proposed business/project


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Definition of

Production/Operational Plan Transformation Process

Material/Inventory Requirement

Planning Acquisition of plant, machinery

& equipment

Operational Manpower Planning

Operational Layout Plan

Selection of Location

Operational/Production Budget


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Definition

Production/Operational plan involves the

production of a product or serviceaccording to the quantity, quality,

specification and time specified by the

customer at the lowest cost possible

An operational activity include:

Business inputs

Transformation process

Output


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The Transformation

Process

Business Inputs

Labor

Raw materialMachinery

Technology

Capital

TransformationProcess

OutputProduct

Service

Controlling


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Transformation Process:

A Biscuit Factory Materials (flour, sugar, yeast, water

etc)

Machinery & equipment (weigh,mixer, blenders, oven, racks etc.)

Technology (mixing, blending, baking,

packaging etc.) Labor (machine operator, general

worker, supervisor etc)


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Transformation Process:

A Restaurant Materials (fish, meat, onion,

vegetables etc)

Machinery (knives, stove, utensils,

table and chairs etc)

Technology (cooking, frying,

cutting etc)

Labor (chef, service-man, cashier

etc)


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Efficiency of the

Transformation Process The productivity index (P.I) is used to measure

the effectiveness of the transformation process

Formula: P.I = Output/Input cost

Example:

Sales = RM2,000/day

Operational cost = RM1,200/day

P.I = RM2,000/RM1,200 = 1.67

P.I index of more than 1 indicates the efficiency

of the transformation process


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Process Flowchart

It is schematic representation of theproduction/operation process from thestart until the product or service is sold

or delivered It must show:

The sequence (step by step)

Description of each process/activityTime (days,hours or minutes)


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Conventional Symbols

Symbol Activity Description

Operation Materials are being processed or

information being processed or the

process of planning and calculating.

Transporting Movement of materials from one

place to another.

Inspection Inspection on the quantity or

quality of the product.


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Conventional Symbols

Symbol Activity Description

Delay Process is delayed or materials

waiting for further process.

Storage Materials are stored in the storage

area or warehouse.


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Material Requirement

Planning

List out all materials needed to produce

the product of service

Estimate in terms of quantity needed

based upon your sales forecast

Determine your safety stocks Estimate the cost of materials (monthly

& annually)


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Acquisition of Machinery and

Equipment

List out all machinery and equipment needed

to produce the product or service

Determine the number of machinery and

equipment based upon its capacity and

production period

Identify the supplier that can offer

competitive price


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Factors Considered Before

Buying The Machinery Price

Quality in terms durability Easiness of acquiring spare-

parts

Maintenance Technology & simple operation

Reputation of the supplier

After sales service


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Operational

Manpower Planning

Determine the rate of production

Determine the standard time in

producing a unit of product

Man productive hours

Determine number of workers and the

source

Calculate the cost of direct and

indirect labor


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Factors to be considered:

Arrange the machinery and equipment so

that materials can move freely from oneplace to another

Avoid any delay whereby work-in-processhave to wait for further process

Plan so that different types of output are notmixed


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Avoid shifting of materials too

frequently

Utilize floor space efficiently

Establish effective supervision

Establish pleasant working

environmentAvoid too much movement of workers

Avoid machinery and workers idling

Establish a flexible layout plan


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Types of Layout Plan

Layout based on product

Layout based on marketing

Layout based on process


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Selecting a Location

Factors to be considered:

Distance from source of materials

Supply of laborTransportation

Distance from target market

Price of the property Other factors:

Basic infrastructure & facilities

Schools, housing, banks etc.


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Operation Budget

Cost of machinery and equipment

Direct materials

Direct labor

Prime cost

Factory/operational overheads


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Financial Plan


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Sessions Objectives

To enable students to prepare relevant

statements for the financial plan.

To enable students to develop the skillsof preparing a financial plan.

To help students in evaluating the

financial viability of the proposedbusiness/project.


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1.4 Kewangan dalam Perniagaan

1. Rancangan kewangan

2. Belanjawan kewangan

3. Membentuk Proforma Penyata Kewangan

4. Membentuk proforma lembaran imbangan5. Analisis pulang modal

Rujuk

KPTM

(2007)

88-89


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i. Rancangan Kewangan

Menyediakan gambaran menyeluruh tentang jumlah dan

pemasaran dana yang diperoleh, kegunaan dana, jumlah

tunai yang ada dan anggaran kedudukan kewangansesuatu perniagaan.

Menyediakan asas bagi pemantauan perbelanjaan jangka

pendek dan membantu menghalang berlakunya masalahkekurangan tunai.


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ii. Belanjawan Kewangan

Alat penting dalam merancang operasi

kewangan seperti:

- Belanjawan operasi

- Belanjawan tunai

- Belanjawan modal


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iv. Proforma Lembaran Imbangan

Disediakan untuk menunjukkan kedudukan

kewangan peniagaan pada akhir tahun dan iamengandungi ringkasan aset, liabiliti danekuiti para pemilik.

Proforma ini akan menggunakan maklumat

daripada proforma penyata pendapatan danbelanjawan aliran tunai.


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iii. Proforma Penyata Kewangan

Pemilik boleh memilih samada :

Menyediakan ramalan jualan dan melengkapkan

penyata, atau

Menentukan sasaran untung dan melengkapkan

penyata.(Biasanya pemilik membuat pilihan kedua)


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v. Analisis Pulang Modal Ialah teknik yang berguna dalam menentukan

kuantiti jualan atau tahap volum jualan yang

mesti dicapai untuk pulang modal. TPM = Kos Tetap

Harga JualanKos Berubah


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Rancangan kewangan

Rancangan kewangan menyediakan gambaranmenyeluruh tentang jumlah dan pemasaran danayang diperoleh, kegunaan dana, jumlah tunai yang

ada dan anggaran dana, dan anggaran kedudukankewangan sesuatu perniagaan.

Rancangan kewangan menyediakan asas bagi

pemantauan perbelanjaan jangka pendek danmembantu menghalang berlakunya salah satumasalah biasa dihadapi oleh perniagaan baharu, iaitumasalah kekurangan tunai.


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What is a Financial Plan?

A financial plan is a plan that shows the short andlong-term financial requirements in order to starta new business or project.

It also shows how therequirements are going to

be financed (using internal

and external resources).


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Continue

A financial plan should also include the

projections of the financial statements such as

the cash flow, profit & loss and balance sheet. A financial plan should include some financial

analysis in order to determine the viability of

the proposed business/project.


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The Importance of A Financial Plan

To determine the amount of money to be

investedthe project cost.

To identify and propose the relevant sources of

fund.

To ensure that the initial capital is sufficient.

To appraise the viability before actualinvestment is committed.

As a guideline for implementation.


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Sources of Financial Information

Financial information is gathered through budgets.

Operational budget

Administrative budget

Marketing budget

Production budget

Financial budget

Project implementation cost

Sources of fund

Projected cash flow statements

Projected profit & loss statements

Projected balance sheet statements


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Steps in Preparing a Financial Plan

Step 1:

Prepare the project implementation cost schedule.

Prepare table of depreciation for each fixed asset owned or

purchased by the company. Step 2:

Prepare the sources of fund to finance the project cost.

Prepare a loan amortization schedule for term loan.

Prepare a hire-purchase repayment schedule if hire-purchasefinancing is used.


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Continue

Step 3:

Prepare the projected cash-flow statements (for 3 years).

For year 1monthly.

For year 2 and 3annually.

Step 4:

Prepare projected trading, profit & loss statements (for 3

years). For manufacturing companies, include manufacturing

accounts.


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Step 5:

Prepare projected balance sheet statements

(for 3 years). Step 6:

Perform relevant financial analysis based on the

projected financial statements.

Continue


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Project Implementation Cost

Project implementation cost refers to the totalcosts (short & long-term costs) needed to implementthe proposed business/project.

Long-term costs refer to capital expenditure required tobuy fixed assets (ex. land, building, machinery,equipment, furniture and vehicle).

Short-term costs refer to expenditure to finance day-to-day operation of the business (ex. raw materials/inventory,wages & salaries, utilities and other overheads.


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Elements in Project Cost Schedule

Capital Expenditure

Land

Building

Renovation Machinery & Equipment

Furniture & Fixtures

Vehicle

Working Capital ( _xx month) Administrative

Marketing

Operation


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Elements in Project Cost Schedule

Pre-operational costs

Business registration & licenses

Legal fees

Road tax & insurance

Stamp duties etc.

Deposits

Rental

Utilities Provision for contingencies

(2 to 5 percent)


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Example: Project Implementation Cost Schedule

RM RM

Capital Expenditure

Building 45,000Machinery & Equipment 23,000

Furniture & Fixtures 7,000

Van 25,000

Renovation 4,000

104,000

Working Capital (1 month)

Administrative 8,000

Marketing 1,500

Operation 8,000

17,500

Pre-operational costs 2,700Deposits 800

Allowance for contingencies (10%) 12,500

Total cost 137,500


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Example: Table of Depreciation

Type of asset : VanCost of asset : RM25,000

Economic life : 5 years

Method : Straight line

Year Annual Accumulated Book

Depreciation Depreciation Value

0 25,000

1 5,000 5,000 20,000

2 5,000 10,000 15,0003 5,000 15,000 10,000

4 5,000 20,000 5,000

5 5,000 25,000 0


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Sources of Fund

Sources of fund refer to the source where

fund to finance the project cost is secured. It

can be internally or externally generated. Equity Contribution

Cash

Assets

Term Loan

Hire-Purchase Scheme

Others


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Example: Sources of Finance

Source RM

Equity Contribution

Cash 27,500

Asset 45,000

Term Loan 45,000

Hire-purchase Finance 20,000

Total 137,500


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Example: Loan Amortization Schedule

Loan amount : RM45,000

Loan period : 5 years

Interest rate : 10%

Method : Reducing balance (annually)

Year Interest Principal Payment Balance

0 0 0 0 45,000

1 4,500 9,000 13,500 36,000

2 3,600 9,000 12,600 27,0003 2,700 9,000 11,700 18,000

4 1,800 9,000 10,800 9,000

5 900 9,000 9,900 0


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Example: Hire-purchase Repayment Schedule

Cost of asset : RM25,000Down payment : RM 5,000

Loan amount : RM20,000

Loan period : 5 years

Interest rate : 8% Method : Flat (annually)

Year Interest Principal Payment Balance

0 0 0 0 20,000

1 1,600 4,000 5,600 16,000

2 1,600 4,000 5,600 12,0003 1,600 4,000 5,600 8,000

4 1,600 4,000 5,600 4,000

5 1,600 4,000 5,600 0


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Cash-flow Projected Statements

It is projected statements of cash inflows and

outflows throughout the planned period.

It shows the following:Cash inflows

Cash outflows

Deficit or surplusCash position (beginning & ending balances)


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Elements in Cash-flow Statement

Cash Inflows

Equitycash only

Term-loanCash sales

Collection of receivables

Sales of asset


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Continue

Cash Outflows

Operational expenditure

Marketing expenditure

Administrative expenditure

Loan repayment

Hire-purchase repayment

Purchase of fixed assetsPre-operational expenses

Miscellaneous expenses


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Continue

Cash Surplus or Deficit

Inflows > Outflows = Surplus

Inflows < Outflows = Deficit

Cash Position

Beginning cash + Surplus/

(- Deficit) = Ending cashNote: The ending cash balance for a particularmonth becomes the beginning balance for the nextconsecutive month


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Example: Cash-flow Pro-forma Statement

Month Pre-Operation Jan Feb Mac Apr May June July Aug Sept. Oct. Nov. Dis. Year 1

A CASH INFLOWS

Beginning cash balance 0 30,000 30,909 31,818 32,727 33,636 34,545 35,454 36,363 37,272 38,181 39,090 39,999 0

Equity - Cash 27,500 27,500

Term-loan 45,000 45,000Cash sales 20,000 2 0,000 20,000 20,000 20,000 20,000 20,000 2 0,000 2 0,000 2 0,000 2 0,000 2 0,000 240,000

B Total Cas h Inflows 72,500 50,000 50,909 51,818 52,727 53,636 54,545 55,454 56,363 57,272 58,181 59,090 59,999 312,500

C CASH OUTFLOWS

Operational Expenditure:

Raw materials 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 36,000

Direct labor 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 3,000 36,000

Operational overheads 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000

Marketing Expenditure:

Sales commission 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 12,000

Entertainment allowance 500 500 500 500 500 500 500 500 500 500 500 500 6,000

Adminstrative Expenditure:Salaries & Wages 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 60,000

EPF & SOCSO 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 1,000 12,000

Adminstrative overheads 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 2,000 24,000

Loan Repayment:

Principal 750 750 750 750 750 750 750 750 750 750 750 750 9,000

Interest 375 375 375 375 375 375 375 375 375 375 375 375 4,500

Hire-purchase repayment:

Down payment 5,000 5,000

Principal 333 333 333 333 333 333 333 333 333 333 333 337 4,000

Interest 133 133 133 133 133 133 133 133 133 133 133 137 1,600

Capital Expenditure:Machinery & Equipment 23,000 23,000

Furniture & Fixtures 7,000 7,000

Renovation 4,000 4,000

Pre-operational Expenditure 2,700 2,700

Deposits 800 800

D Total Cas h Outflows 42,500 19,091 19,091 19,091 19,091 19,091 19,091 19,091 19,091 19,091 19,091 19,091 19,099 2 71,600

E Cas h Surplus /(Defic it ) 30, 000 30, 909 31, 818 32, 727 33, 636 34,545 35,454 36, 363 37, 272 38, 181 39, 090 39, 999 40, 900 40, 900

F Ending c ash balance 30,000 30,909 31,818 32,727 33,636 34,545 35,454 36,363 37,272 38,181 39,090 39,999 40,900 40,900

E l C h fl P f St t t


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Example: Cash-flow Pro-forma StatementYear Year 1 Year 2 Year 3

A CASH INFLOWS

Beginning cash balance 0 40,900 77,000

Equity - Cash 27,500 0 0

Term-loan 45,000 0 0

Cash sales 240,000 276,000 317,400B Total Cash Inflows 312,500 316,900 394,400

C CASH OUTFLOWS

Operational Expenditure:

Raw materials 36,000 37,800 39,690

Direct labor 36,000 37,800 39,690

Operational overheads 24,000 25,200 26,460

Marketing Expenditure:

Sales commission 12,000 12,600 13,230

Entertainment allowance 6,000 6,000 6,000

Adminstrative Expenditure:

Salaries & Wages 60,000 63,000 66,150EPF & SOCSO 12,000 12,600 13,230

Adminstrative overheads 24,000 25,200 26,460

Loan Repayment:

Principal 9,000 9,000 9,000

Interest 4,500 3,600 2,700

Hire-purchase repayment:

Down payment 5,000 0 0

Principal 4,000 4,000 4,000

Interest 1,600 1,600 1,600

Capital Expenditure:

Machinery & Equipment 23,000 0 0Furniture & Fixtures 7,000 0 0

Renovation 4,000 0 0

Pre-operational Expenditure 2,700 1,500 1,500

Deposits 800 0 0

D Total Cash Outflows 271,600 239,900 249,710

E Cash Surplus/(Deficit) 40,900 77,000 144,690

F Ending cash balance 40,900 77,000 144,690

M f t i T di P fit & L


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Manufacturing, Trading, Profit & Loss

Pro-forma Statements

It is a projected statement which shows theexpected profit or loss throughout the plannedperiod (3 consecutive years).

For manufacturing companies, they shouldfirst prepare the manufacturing account.

For trading companies, they should firstprepare the trading account.

For service companies, they can just preparethe profit and loss account.


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Elements in the Manufacturing Account Raw Materials Used

Opening stock (beginning of year)

Add: Purchase of raw materials (for the year)

Minus: Closing stock (end of year)

Direct Labor

Operational Overheads

Indirect materials Indirect labor

Depreciation on plant, machinery & equipment

Maintenance

Utilities

Prime Cost Add: Beginning work-in-process

Minus: Ending work-in-process

Cost of Goods Manufactured


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Example: Manufacturing Account

Raw Materials RM RM

Opening stock 1/1 0

Add: Purchases of raw materials 36,000

Raw materials available 36,000

Minus: Closing stock 31/12 3,000

Raw Materials Used 33,000Direct Labor 36,000

Operational Overheads 24,000

Prime Costs 93,000

Add: Work-in-process 1/1 0Minus: Work-in-process 31/12 0

Work-in-Process 0

Cost of Goods Manufactured 93,000


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Elements in Trading Account

(Manufacturing Company)

Sales (as forecasted)

Cost of Goods Sold

Opening stock for finished

goods

Add: Cost of goods

manufactured

Stocks available for sale

Minus: Closing stock forfinished goods

Gross Profit

(Trading Company)

Sales (as forecasted)

Cost of Goods Sold

Opening stock for

finished goods

Add: Purchases for the

year

Available stocks for

sale Minus: Closing stock

for finished goods

Gross Profit


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Example: Trading Account for A

Manufacturing CompanySales 240,000

Less: Cost of Goods Sold

Opening stock for finished goods 0

Add: Cost of goods manufactured 93,000

Goods available for sale 93,000

Minus: Closing stock for finished goods 3,000

90,000

Gross Profit 150,000


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Example: Trading Account for

Trading CompaniesSales 240,000

Less: Cost of Goods Sold

Opening stock for finished goods 0Add: Purchase for the year 93,000

Goods available for sale 93,000

Minus: Closing stock for finished goods 3,000

90,000



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Elements in A Profit & Loss Account(Manufacturing &

Trading Companies) Sales

Less: Cost of GoodsSold

Gross Profit Less: Expenses

Administrative

Marketing

Financial

Depreciation charges

Other expenses

Net Profit Before Tax

(Service Companies)

Sales

Less: Expenses

Administrative

Marketing Operational

Financial

Depreciation charges

Other expenses

Net Profit Before Tax


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Example: Profit & Loss Account For Manufacturing

& Trading Companies

Sales 240,000Less: Cost of Goods Sold 90,000


Less: Expenses


Marketing 18,000

Financial:

Interest on term loan 4,500

Interest on hire-purchase 1,600

Depreciation charges 11,800Pre-operational expenditure 2,700

Total Expenditure 134,600

Net Profit Before Tax 15,400

E l P fit & L A t F S i


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Example: Profit & Loss Account For Service

Companies

Sales 240,000

Less: Expenses


Marketing 18,000

Operational 96,000Financial:

Interest on term loan 4,500

Interest on hire-purchase 1,600

Depreciation charges 11,800

Pre-operational expenditure 2,700

Total Expenditure 230,600

Net Profit 9,400


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Balance Sheet Pro-forma Statements

It is a projected statement which shows the

financial position of the company at a specific

point in time in terms of assets owned and how

those assets are financed.

Projected statements are prepared for the period

of three (3) years.


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Elements in A Balance Sheet

Fixed Assets List all fixed assets at its book value (CostAccumulated

depreciation)

Current Assets

List all current assets (e.g. cash, stocks, accountreceivables, deposits etc.)

Equity

Equity contribution (cash + assets) plus net profit

(accumulated)

Long-term Liabilities

Term-loan (year end balance)

Hire-purchase (year end balance)

Example: Balance Sheet for Manufacturing & Trading Companies


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Fixed Assets

Machinery & Equipment 18,400

Furniture and Fixtures 5,600

Renovation 3,200Van 20,000 47,200

Current Assets

Cash 40,900

Closing stock for raw materials 3,000

Closing stock for finished goods 3,000

Deposits 800 47,700

Total Assets 94,900

Equity

Capital 27,500

Net profit 15,400 42,900

Long-term LiabilitiesTerm-loan 36,000

Hire-purchase 16,000 52,000

Total Equity & Liabilities 94,900

E l B l Sh t f S i C i


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Example: Balance Sheet for Service Companies

Fixed Assets

Machinery & Equipment 18,400

Furniture and Fixtures 5,600Renovation 3,200

Van 20,000 47,200

Current Assets

Cash 40,900

Deposits 800 41,700Total Assets 88,900

Equity

Capital 27,500

Net profit 9,400 36,900

Long-term Liabilities

Term-loan 36,000

Hire-purchase 16,000 52,000

Total Equity & Liabilities 88,900


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