VISK2010DTeam: FinanceCompany name: Gifts For Life

V.P: Tran Dai Nghia 436010Dang Phuong Mai 435359Bui Thuy Huong 440537Doan Quynh Trang 436007Le Mai Anh 435373Lai Thi Tam 435372

OUTLINEI. Introduction

II. Report

1. Finance Team introduction

2. Gantt Chart & Activity-on-node

3. Estimated and final company’s profit

4. Estimated and final cash flow spreadsheet

5. Final productivity

6. Total number of items sold

7. Measure used to determine the effectiveness of finance

8. Process Flow Chart for Finance

9. Finance’s Contribution to company success

10. Time log summary

11. Lessons from team members

III. Conclusion

FINANCE TEAM INTRODUCTION

Name Roles

Tran Dai NghiaCooperates with CEO and other departments, Receives investment from IS VNU, Approves papers

Dang Phuong MaiCooperates with Manufacturing Department to check inventory

Bui Thuy HuongCooperates with Manufacturing Department to check inventory

Doan Quynh TrangCollects information to prepare for financial budget, Calculates weekly cash flow from operations

Lai Thi Tam Collects bills, Calculates profits gained from sales

Le Mai AnhPrepares financial budget, and Draws flowchart for Finance department

GANTT CHARTID Activity Description Start Finish

9-Au

g10

-Aug

11-A

ug17

-Aug

20-A

ug21

-Aug

22-A

ug24

-Aug

31-A

ug1-

Sep

2-Se

p3-

Sep

4-Se

p5-

Sep

6-Se

p7-

Sep

10-S

ep11

-Sep

12-S

ep13

-Sep

A First receiving 1,000,000 VND from IS-VNU 9-Aug 9-Aug

B Meeting with team members to evaluate the project. 9-Aug 9-Aug

C Work with team members to identify activities. 9-Aug 9-Aug

D Assign responsibilities to members of team. 9-Aug 9-Aug

E Project activities starting. 10-Aug 10-Aug

F Pay money for making sample products 10-Aug 10-Aug

G Collect bills making sample products from R&D department 10-Aug 10-Aug

H Set prices for products 10-Aug 10-Aug

I Receive money from selling sample products 11-Aug 11-Aug

J Pay money for raw materials 17-Aug 17-Aug

K Collect bills paying for raw materials from R&D department 20-Aug 20-Aug

L Calculate esimated budget and cash flow 21-Aug 21-Aug

M Report activities 22-Aug 22-Aug

N Cooperate with other departments to check inventory weekly 17-Aug 7-Sep

OReceive revenue from selling products from Sales and Marketing department

31-Aug 7-Sep

P Summarize activities 7-Sep 7-Sep

Q Return 1,000,000 VND to IS-VNU 7-Sep 7-Sep

R Calculate final budget and cash flow 10-Sep 10-Sep

S Report Class project 11-Sep 13-Sep

T Give profit to do charity in Hoa Binh Orphanage Center 13-Sep 13-Sep

ACTIVITY – ON – NODE (AON)

A B DC

E GF

H

I

J

K

L

M N P QO

R TS

Week EndingIncome from Sales 17-Aug 24-Aug 31-Aug 7-Sep Total

Eco friendly bag 75000 300000 450000 300000 1,125,000.00 Key chain 42000 21000 21000 21000 105,000.00 Pen   22000 22000 22000 66,000.00 Badge   15000 15000 15000 45,000.00

Total 117,000.00 358,000.00 508,000.00 358,000.00 1,341,000.00

Cost of Goods Sold 17-Aug 24-Aug 31-Aug 7-Sep TotalEco friendly bag 50000 200000 300000 200000 750,000.00 Key chain 34000 17000 17000 17000 85,000.00 Pen   18000 18000 18000 54,000.00 Badge   10000 10000 10000 30,000.00

Total 84,000.00 245,000.00 345,000.00 245,000.00 919,000.00

Profit 17-Aug 24-Aug 31-Aug 7-Sep TotalEco friendly bag 25,000.00 100,000.00 150,000.00 100,000.00 375,000.00 Key chain 8,000.00 4,000.00 4,000.00 4,000.00 20,000.00

Pen -

4,000.00 4,000.00 4,000.00 12,000.00

Badge -

5,000.00 5,000.00 5,000.00 15,000.00

Total 33,000.00 113,000.00 163,000.00 113,000.00 422,000.00

ESTIMATED COMPANY’S FINAL PROFIT

THE COMPANY’S FINAL PROFIT

Income from Sales 17-Aug 24-Aug 31-Aug 7-Sep TotalEco friendly bag 75,000 90,000 1,410,000 1,575,000 Key chain 42,000 42,000 Pen 44,000 44,000 Badge 45,000 45,000

Total 117,000 90,000 1,499,000 - 1,706,000

Cost of Goods Sold 41,138 41,145 41,152 41,159 TotalEco friendly bag 50,000 60,000 940,000 1,050,000 Key chain 34,000 34,000 Pen 36,000 36,000 Badge 30,000 30,000

Total 84,000 60,000 1,006,000 - 1,150,000

Profit 41,138 41,145 41,152 41,159 TotalEco friendly bag 25,000 30,000 470,000 - 525,000 Key chain 8,000 - - - 8,000 Pen - - 8,000 - 8,000 Badge - - 15,000 - 15,000

Total 33,000 30,000 493,000 - 556,000

ESTIMATED CASH FLOW SPREADSHEET

Week Ending

Cash Flow 10-Aug 17-Aug 24-Aug 31-Aug 7-Sep

Cash At Start of Project 1,000,000

       

Cash In for Week   150,000

105,000

1,542,000

 

Cash Out for Week   1,150,000

  33,000

1,000,000

Weekly Cash Flow from Operations

1,000,000

(1,000,000)

105,000

1,509,000

(1,000,000)

Cumulative Cash Balance 1,000,000

-

105,000

1,614,000

614,000

FINAL CASH FLOW SPREADSHEET

Week Ending

Cash Flow 10-Aug 17-Aug 24-Aug 31-Aug 7-Sep

Cash At Start of Project

1,000,000        

Cash In for Week   117,000

90,000

1,499,000

 

Cash Out for Week  

1,150,000  

33,000

1,000,000

Weekly Cash Flow from Operations

1,000,000

(1,000,000)

90,000

1,466,000

(1,000,000)

Cumulative Cash Balance

1,000,000

-

90,000

1,556,000 556,000

FINAL PRODUCTIVITY

Team Name Worked Hours

R&D and Purchasing 33:55:00

Manufacturing 45:00:00

Finance 33:20:00

Marketing and Sales 74:00:00

Operations 35:00:00

CEO 15:40:00

Total worked hours 236:55:00

FINAL PRODUCTIVITY

Categories Results

Number of units sold 112 units

Revenue 1,706,000VND

Profit 556,000 VND

Productivity 7,200.74VND/hour

FINAL PRODUCTIVITY

• Productivity = (VND earned) ÷ (Total Hours Worked by All Team Members on All Teams)

= 1,706,000 VND ÷ 236.92 hours

= 7,200.74 VND/ hour

TOTAL NUMBER OF ITEMS SOLD

Items Quantity

Eco Friendly Bag 105

Key Chain 2

Badge 2

Pen 3

Total 112

MEASURE USED TO DETERMINE THE EFFECTIVENESS OF FINANCE

Financial Measure: Minimizing cost to boost revenue (1,893,000 VND

estimated) & earn profit (584,000 VND estimated)Returning on investmentDoing charity

Start

Initial Investment

from ISVNU

Pay money for making

sample products

Pay money for raw

materials

Receive money from selling

sample products

Wait for customers’

order

Receive money from

selling products

Revenue

Return on investment

Do charity

End

Process Flow Chart for Finance

FINANCE’S CONTRIBUTION TO COMPANY SUCCESS

• Setting a fair price: – To satisfy customers’ need– To get profit to do charity

• Collecting and reporting financial data accurately and weekly

Create budget, cash flow promptly deal with financial problems if necessary

TIME LOG SUMMARY

Keuka ID#Family & Middle

NameGiven Name

Enter Hours Worked

Notes:

436010 Tran Dai Nghia 6:30:00Cooperates with CEO and other departments, Receives investment from IS VNU, Approves papers, Report activities, Summarize activities, Report Class Project

435359 Dang Phuong Mai 4:50:00Cooperates with Manufacturing Department to check inventory, Report activities, Summarize activities, Report Class Project

440537 Bui Thuy Huong 4:30:00Cooperates with Manufacturing Department to check inventory, Report activities, Summarize activities, Report Class Project

436007 Doan Quynh Trang 6:00:00Collects information to prepare for financial budget, Calculates weekly cash flow from operations, Report activities, Summarize activities, Report Class Project

435372 Lai Thi Tam 5:30:00Collects bills, Calculates profits gained from sales, Report activities, Summarize activities, Report Class Project

435373 Le Mai Anh 6:00:00Prepares financial budget, and draws flowchart for Finance department, Report activities, Summarize activities, Report Class Project

      33:20:00  

LESSONS FROM TEAM MEMBERS

• Improving team-working skills

• Applying theories on practice

• Calculating budget and cash flow

• Planning time appropriately and working with full of responsibility

• Having useful experience for future career through this project