Personal Statement On Financial Decision Making Individual Essay

Personal Statement On Financial Decision Making Individual Essay

Length: 842 words (2.4 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Financial decision making-individual
Name: charan teja chuchikonda
Student ID number: 1251159

Dear valued customer,
Good day!
Monica we would like to thank you for your application for business loan. Your application will be held on file at this time as the information given by you is not enough to lend you a business loan. The balance sheet submitted by you for the year 2011 clearly says that the total assets are equal to the total liabilities and shareholder’s funds. Many other details are missing as you need all that information to put a full proposal to our bank.
You will need to tell me the actual facts and business estimation, which is usually done by your accountant. Well, let me give you the details of the information that you are recommended to submit to the bank for the further progress in your business loan. As per the norms I would like to know the current assets and non-current assets of your supermarket in detail and also the source of accretion for this. A personal statement is needed for your assets and liabilities. Also give a detail about your source of income and living expenses.
You are advised to give detailed information about your personal contribution to your business. According to our bank norms, a complete amount cannot be sanctioned as a business loan. In your application, you have requested for $150,000 as a business loan but you have failed to declare the total amount you need for the business and your personal contribution to the business. Also attach any external incomes like salary of the business partner and any rental incomes which can help you in repaying the loan installments. Also lay out how much amount you dedicate to your personal debts and living expenses from the business. And information...

... middle of paper ...

You need to provide income and expenditure statements which could convince the bank that you have enough income to pay the monthly interests of the loan taken, pay the business creditors and sufficient income left for you. The financial details given in the application is not enough. We need at least two years of income and expenditure statements which will help us in estimating the financial status of your business. The cash flow statement of your business clearly indicated that there are no much profits in business for the year 2011. So we want you to comment on how you believe in increment of sales and achieve the projected gross profit margins. We can process your application further if you can provide us the above mentioned statements and documents. You can come and meet our business team with a regards to any other information. Thanks again for your interest.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay about The Leadership 's Strategic Decision Making

- A French General, Charles de Gaulle, once stated the key to being a military leader was making sure the commander did the job in leading (Wiley, 2013). The leader who understands how to engage employees, create productivity, and strives for performance and customer satisfaction help the overall productivity and motivation of the organization and achieving the corporate goals (Wiley, 2013). The leader’s role in the organization’s strategic decision-making and ethical decisions have an impact on the competitive advantage and within the context of the virtual environment (cross-cultural or collected)....   [tags: Decision making, Decision theory]

Better Essays
1102 words (3.1 pages)

Decision Making As A Medical Practitioner Essay

- Decision making plays a very important role in a medical practitioner’s career. Making these decisions can be exceptionally difficult particularly when often a patient’s health depends on the decision the practitioner makes. Often the practitioner has to make an almost immediate decision after only a short discussion with the patient at the initial meeting, further concreting the need for effective decision making. Making the correct decision can be complicated and difficult, and often errors are made....   [tags: Decision making, Cognition, Risk, Physician]

Better Essays
1351 words (3.9 pages)

Decision Making For The Organizational Behavior Community Essay example

- Decisions are faced everyday, by every person. We take into account risk in assessing how to react to these decisions. Yet each person’s motivation will dictate how much risk one is willing to accept, and how much one is willing to pass onto others. This is the essence of decision making. It is not as simple as simply going right or left; often times the choices are vast and the consequences can be far greater than imagined. In order to answer our decisions in good faith, and with hopes of personal benefit, one must first assess how they are looking at the world....   [tags: Motivation, Decision making, Decision theory]

Better Essays
1234 words (3.5 pages)

Collaborative Leadership And The Decision Making Process Essay

- In collaborative leadership, groups work together to promote and safeguard the process through shared leadership. Work is accomplished in coalitions, alliances, and partnerships. Collaborative leaders are driven to achieve their goal, but keep their egos in check. The passion is for the achievement, not to promote oneself. By listening carefully to others’ perspectives, they strive to understand and consider the views of others involved, even critics. Because of their ability to understand the needs of others, they seek win-win solutions (Sanders, 2014)....   [tags: Leadership, Decision making, Decision theory]

Better Essays
1634 words (4.7 pages)

The Upper Echelons Theory And Its Impact On Corporate Decision Making Essay

- The Upper Echelons Theory is greatly based on the study of how individual characteristics affect judgment and decision making (JDM) and in psychology studies JDM could be detected by cognitive styles, abilities and strategies (Ho & Rodgers, 1993; Kozhevnikov, 2007). On the basis of JDM research which suggests characteristics could conduct decision making by influencing cognitive process, a number of experimental studies analyzed how managers’ cognitive characteristics impact on corporate decision making....   [tags: Cognition, Decision making]

Better Essays
719 words (2.1 pages)

An Introduction to Managerial Decision Making Essay

- An Introduction to Managerial Decision Making Phar-Mor, Inc., the nation’s largest discount drugstore chain, filed for bankruptcy court protection in 1992, following discovery of one of the largest business fraud and embezzlement schemes in U.S. history. Coopers and Lybrand, Phar-Mor’s former auditors, failed to detect inventory inflation and other financial manipulations that resulted in $985 million of earnings overstatements over a three-year period. A federal jury unanimously found Coopers and Lybrand liable to a group of investors on fraud charges....   [tags: Business Management Decision Making Essays]

Better Essays
4608 words (13.2 pages)

Financial Literacy Impacts Financial Decision Making Essay

- Introduction Ethical standards in the financial services industry were severely tested in light of news of outright fraud, Ponzi schemes, lack of regulatory oversight, and the likes in recent times. These gross violations, although shocking, are not a novelty especially when it comes to the money management business. But the sheer size, frequency and egregiousness of these recent scams and scandals highlight the lack of basic ethical standards in the industry with total disregard of their customer’s interests....   [tags: ethical standards in the financial services system]

Better Essays
1397 words (4 pages)

Making Management Decisions Essay

- Making Management Decisions ASSIGNMENT 1 Lewandowska & Santhirasekaran 1. Principles of business planning and decision making Decision Making is “A commitment to action” (Mintzberg, H., 1983, p. 188) ; Management decisions are made for a lot of different reasons, mainly because decision making is a fundamental aspect of the management functions and management decision-making which makes it a key management role. (M. Teale, V.Dispenza, J. Flynn, D.Currie, 2003, p. 10) (D....   [tags: business planning, decision making, risks]

Better Essays
2215 words (6.3 pages)

Questions On The And Financial Statements Essay

- DHB Industries Critique Afua Nyamekye Liberty University DHB Industries Critique 1. Exhibits 1 and 4 present DHB’s original 2003-2004 balance sheets and income statements and the restated balance sheets and income statements for these two-year, respectively. Review the original and restated financial statements for 2004 and identify the “material” differences between them. I agree to the material differences that Brittani pointed out. Materiality depends on a lot of factors....   [tags: Audit, Auditing, Financial audit]

Better Essays
1216 words (3.5 pages)

Financial Statements Essay

- Financial Statements basically show the historical performance or record of the company at some previous point of time. By the time when financial statements are made public, changes are many economical areas such as market conditions, currency exchange rate and inflations can change the values of assets and liabilities. In this case there often exist discrepancies between book value of assets and their market values. In above case there might be companies that are healthy and many go through period of financial distress....   [tags: Economy, Financial Distress]

Better Essays
2290 words (6.5 pages)