Individual Assignment
BTEC EDEXCEL HND DIPLOMA IN BUSINESS (MANAGEMENT & HUMAN RESOURCES)OFFERED BY INTERNATIONAL COLLEGE OF BUSINESS AND TECHNOLOGY
Managing Financial Statement Resources and Decisions
Ruwin RatnayakeBATCH 15ICBT NUGEGODA
SUBMITTED TO: MS. Nilushi Gunaratne01/02/2015Managing Financial Resources and DecisionIndividual Assignment
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Batch 15Page 21Acknowledgement
I would like to take this opportunity to convey my sincere thanks and heartfelt gratitude to my lecturer MS. Nilushi Gunaratne for providing me with the necessary guidance, support and assistance to complete this assignment. In the meantime I would also like to thank my fellow colleagues and the staff of ICBT for supporting me in numerous ways to make this assignment a success.
Executive Summary
Table of ContentsAcknowledgement2Executive Summary31.0.Introduction52.0.Report62.1.Organizational structure and culture (LO1.1)62.1.1.Wal-Mart62.1.2.Samsung Electronics72.2.Samsung Electronics impact of organizational structure on culture (LO1.2)102.3.Impact of personality and selective perception on work-life (LO1.3)123.0.Newspaper Articles143.1.Effectiveness of leadership styles - Mark Zuckerberg and Martin Winterkorn (LO2.1)143.2.Henri Feyols principles of management: influence on present day organizations practices of management (LO2.2)163.3.Different approaches to management (LO2.3)173.4.The nature and influence of formal and informal groups (LO4.1)193.5.Factors that lead to effective and ineffective group work (LO4.2)203.6.Wipro Technologies - Impact of modern technology on team functioning (LO4.3)214.0.Conclusion235.0.References24
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1.0. Introduction
The assignment is divided into two parts, which are assessment one and two. Assessment one is a report based on two organizations, which are Wal-Mart and Samsung Electronics. Wal-Mart is the largest retail store in the world. The companys vision is to be a global leader in diversity and inclusion, and the companys mission involves delivering the customers promise of saving money. The company holds the no. 1 position in the Fortune 500 companies for the year 2013. Samsung Electronics is a South Korean Company. Its vision emphasizes on inspiring the world, create the future. The company was founded in 1969 as a small export company and today it has become one of the worlds leading electronic companies.The organizational structure and culture of both organizations are analyzed. The final part of assessment one includes the discussion of factors that affect individuals behavior at work. This was done taking into account all the factors which affect an individuals behavior. Assessment two is about newspaper articles. The articles include the comparison of leadership styles of Mr. Mark Zuckerberg who is the CEO of Facebook and Dr. Martin Winterkorn the CEO of Volkswagen. Henri Fayols principles of management is being discussed in one of the articles. Different approaches to management has been explained, Nature and influence of formal and informal groups in an organization and the factors that would lead to effective and ineffective group work is also explained. Furthermore the impacts of modern technology on team functioning in Wipro Technologies are also discussed. The above articles have been written by taking into account the appropriate management theories.
From Here
2.0. Report
2.1. Different Finance SourcesEvery Business requires capital to fund their activities/ operations, therefore there are various options of funding the company. Business owners select the best appropriate finance options, and such options can be classified as follows,
Source of Finance1. Internal Sources Personal savings Sale of assets Retained profit Working capital
2. External Sources Ownership CapitalI. Ordinary SharesII. Preference Shares
Non- Ownership CapitalI. DebenturesII. Bank loansIII. Bank overdraftIV. Leasing V. Hire Purchase VI. Grants
costSourcesDescriptionAdvantagesDisadvantages
Personal savings
The funds that a business organization, keeps in an account in a bank or in a safe from their own investment which is internal source of finance. No interest expenses will be added. Sharing return will not applicable Funds can be used when ever needed, which will save time No Creditors to pay back Depositing into a bank will grant you interest rates.
Using personal saving will consume time and will not be sufficient when engage in larger business projects. Having saving in bank will may have only the interest rate however, if the organization invest in a project or elsewhere, the will get opportunity get more investment return.
Sale of assets
Internal source of finance, by sale of assets. Whenever a business sells of its assets and the cash generated is used internally for financing the capital needs One of the fasters way to finance the organization. The no borrowing cost or debts. Funds can be used when ever needed, which will save time Sharing return will not applicable No interest expenses will be added.
Asset is no longer to be used in the company Some business doesnt have surplus asset to be sold. It can be useful another purpose of the organization.Example: if the company sale a car it also can be used as rent car which will make a small profit for long period of time.
Retained profit
A internal source of finance. The phenomenon is also known as Ploughing Back of Profits. Profit left after paying disbursement to the shareholders or drawings by the capital owners. There is no fixed requirement of interest or installment payments. Since this is an internal source of finance there is no cost attached. Since these are long term of finance no dividend payments are required. The owners control is not diluted and decisions are not vetted by lenders Not available for a new business. If the owner tries take all the retained profit there will be no buffer cash left in the organization to sudden opportunity arises. Having retained profit in the organization would be disadvantage where the funds can be used elsewhere which can be more profitable projects.
Working capital
Working capital is the amount of money available for the day to day running of the business.Working capital= current assets current liabilities.No interest expenses will be added.Sharing return will not applicableFunds can be used when ever needed, which will save timeNo Creditors to pay back Funds invested for working capital can be utilized for the other finance or capital requirements. Lack of sufficient working capital No cash flow
Preference Shares
This an external source of finance. Preference shares have a fixed percentage dividend before any dividend is paid to the ordinary shareholders. Doesnt have to be repaid No interest is payableDividends do not have to be paid in a year in which profits are poor Since they do not carry voting rights, preference shares avoid diluting the control of existing shareholders while an issue of equity shares would not. preference shares does not restrict the company's borrowing power The non-payment of dividend does not give the preference shareholders the right to appoint a receiver
Profits will be paid out as dividends to more shareholders Ownership of the company could change hands. Preference shares are considered a very costly source of finance which is it seems that when they are compared with debt as a source of finance. Skipping Dividend Disregard Market Image
Debentures
A long-term security yielding a fixed rate of interest, issued by a company and secured against assets Benefit of Tax- Debt Financing or Issuing of Debenture results in interest expense for the borrower which is a tax deductible expense. No Dilution of Control: Issuing of debentures or accepting bank loan does not dilute the control of the existing shareholders or the owners of the company No Dilution in Share of Profits- Opting for debentures over the equity as a source of finance keeps intact the profit-sharing percentage of existing shareholders. Bad for Low Inflationary Conditions Debenture financing enhance the enhance the financial risk There is a limit to which funds can be raised through debentures.
Bank loans
External source borrowing from the bank. Set installments over a period of time which is good for budgeting Multiple loan option in the market therefore can choose the most appropriate loan for the business. If the organization has good relationship with the past, bank will not reluctant to lend money. Can be expensive due to interest payments Bank may require security on the loan Lengthy application process to verify before lending money. Bank doesnt grant the total amount of loan that they request,
LeasingWhen purchasing assets such as new machines or vehicles A legal document outlining the terms under which one party agrees to rent property from another party.
The advantages are that the business does not need to find a large initial lump sum to buy the equipment and can thus pay for the asset from its own revenue. Cost is spread over a number of years which will be good budgeting for the organization. Better security on your finance since the product is owns by leasing company.
The lessee does not get the ownership of the asset. Long term expenses to the company Maintenance for the lease product will be responsible for the company.
http://www.efinancemanagement.com/sources-of-finance/internal-source-of-finance-retained-profits-sale-of-assets-reduction-of-working-capital
http://www.investopedia.com/university/small-business/financing-your-business.asp
http://smallbusiness.chron.com/sources-finance-advantages-disadvantages-14407.html
http://www.fao.org/docrep/W4343E/w4343e08.htmhttp://www.bbc.co.uk/schools/gcsebitesize/business/finance/sourcesoffinancerev2.shtml
http://www.efinancemanagement.com/sources-of-finance/internal-source-of-finance-retained-profits-sale-of-assets-reduction-of-working-capital
Evaluate the appropriate sources of finance for a business project
Finding most appropriate method to finance the business can be classified in to different ways to an organization as above mentioned. Therefore, when choosing the method by which you finance your business can depend on your management style. S & S PLC is the one of the most growing supermarkets chain in Sri Lanka therefore there are alternative ways of finance a business. When selecting a most appropriate method S & S PLC choose the right method of finance the company and consider the below assess the different types of finance based on the following criteria as below mentioned,Amount of money required expand the supermarket which will add about the assets needed and how to spend for promotional activity and estimate funds needed.Finding the cheapest option available or the cost of borrowing money would be interest rates has to be paid when borrowing money must find most budgeting way of finance all available sources of finance.The length of time of the requirement for finance it can be short term or long term having proper vision and planning would be advantage to the company.
S & S PLC is the one of the fastest growing supermarket chains in the western province and southern provinces in Sri Lanka would be great advantage to the company to finance through browning funds through a bank or bank loan. The company can estimate the required money and borrow the funds from financial institutes since these days the interest rates are low compared to last year that would be great advantage to the company and further company does not have to find a large initial lump sum they can pay it as installments with the agreed period of time. S & S PLC is well-known supermarket chain in western province and southern provinces therefore the will be not reluctant to lend money to the company and it would be the fasters ways to finance the company. After the expansion new business in Central and North western provinces with the business profit the loan payments would be not much bare to the company. When purchasing assets such as new machines or vehicles I would like to suggest the leasing source that benefit the company will not need a large initial lump sum to buy the equipments and the cost wil spread over period of time and better security on your finance since the product is owns by leasing company therefore when starting new project in Central and North western provinces machines or vehicles can be leased since the benefit is high compared to other finance sources. Therefore I would like suggest bank loan for the initial finance of the project and leasing for the equipments would be appropriate methods of finance for S & S PLC which is a fastest growing supermarket chains.
Task 02
2.1 Financial planning is the backbone of the company
Financial planning one of the most important helps the company determine your short and long-term financial goals and the existent of the company. Without a financial planning the company may be unsuccessful and be bankrupt in a short period of time therefore a good financial planning will handled the company smoothly lead the business to success. The good financial paining can be monitored through cash flow in the business in and out. The important of the financial be concern when the an organization predict a outstanding debt and cost arising in the future the organization must able to be prepared for the situation in advance, the company should have prepared a proper financial plan before hand. The organization must have financial planning on current assets, fixed assets and intangible assets keeping up to date reports in order to evaluate past report and make improvements and learning to be make more advance financial planning decision on the best way to spend or gain resources effectively and efficiently. Financial planning done in proper is not enough it should be wisely made decision if the company gets opportunities that that arise such as buying inventory from suppliers at provisionally reduced prices.Also business must area that financial planning must be involved is in understanding the income and profit or loss in financial reports. This is very significant as it helps to identified that where most operational expenses are and planning to reduce in the future activities in the organization. The organization must also track all the liabilities and of a business and planning on how a business will utilize its resources to settle outstanding debts before they result in operational problems.It is also paramount that you stick to your budget to avoid making losses that can cause substantial damage to the business and also company can increase the cash flow by tangible assets that are not being use in the organization which could be sell them off to improve the cash flow. Therefore its impossible for an organization to function and be financially stable without financial planning. It provides a guide for the overall operation of the business therefore financial planning is the backbone of the company.
Financial planning in any business is very important. A good business plan provides a guide for the overall operation of the business and the way finances will be handled within a business. The importance of financial planning for your business can be seen in how cash flows in and out of the business. It is very hard for a business to be financially stable if they have not laid out a financial plan. This is because sound financial planning is the backbone for a successful business. Without a financial plan a company is bound to lose its financial grip and the results can be disastrous.The importance of financial planning for your business is best seen when a company is faced with a situation concerning outstanding debts and rising cost. So to be able to be prepared for the situation in advance, the company should have prepared a proper financial plan before hand. The success of a business is greatly determined by the financial plans they have laid out and how well it is followed.Financial planning is the best way to monitor assets of a business. Since financial reports have records of spent, earned and remaining assets, the importance of financial planning for your business comes into play in keeping an updated record of the business resources. Financial planning evaluates the current assets, intangible assets and fixed assets of a business. Therefore the plan helps in deciding on the best way to spend or gain resources.Most businesses have monthly or periodical revenue variations. That means that there are times when cash is in plenty and when there are cash shortages. In making a sound financial plan, the business owner takes these periods into account and keeps a tight restriction on expenditures especially during the periods when there is a decrease in cash flow. The importance of financial planning for your business is felt when it cushions you from being unable to make payrolls. A proper financial plan also allows a business owner to take advantage of opportunities that arise such as buying inventory from suppliers at provisionally reduced prices.Another area where the importance of financial planning for your business is exhibited is in income and profit or loss. Every financial planning demands a review of financial reports to encourage an understanding of income and profits of loss. This is very significant as it helps the business make out its sales or revenue, net income and operational expenses. Being able to identify these factors helps the business to make a well informed decision on which ventures to improve on and which were profitable.Just as financial reports show the records of assets of the business, they also show the various liabilities of a business. Proper financial planning requires a good analysis of business current liabilities, owner's equity and long term debts. This is very useful in keeping the business in track of liabilities due soon. It
Also assist in planning on how a business will utilize its resources to settle outstanding debts before they result in operational problems.Before making financial plans it is important to be decided on what type of business you want to embark on. This will help in making basic and comprehensive plans for finances. It is also paramount that you stick to your budget to avoid making losses that can cause substantial damage to the business. Being realistic by having a clear perspective of the business you run is very useful. You could not be having any tangible assets but if you do like machines that are not being used, you could sell them off to improve your cash flow.
http://www.agualtiplano.net/the-financial-plan.php
http://smartfarmbc.ca/content/financial-management
The finance department of a company generates a variety of financial information that is helpful in decision making,
Budgets are plans for the future. Managers are able to monitor budgets in order to spot variances and make ongoing adjustments to plans. Financial statements such as the profit and loss account and the balance sheet provide information about past performance. These statements can be compared with the results achieved by similar companies or in previous time periods to identify areas for improvement.
http://businesscasestudies.co.uk/business-theory/strategy/financial-information-and-decision-making.html#axzz3PlTUX0jX
Task 2.2Financial information needs for decision makersDecision makers1. Shareholders and investors Earnings and revenue growth of the company investing is worth or not. Cash flow trends - Net income is much higher than cash flow, investors want to be aware and find out why. Debt load Its must that investors to understand how much debt companies have and how that debt compares with a company's ability to pay Dividend per share Profitability
2. Managers Inventory valuation Depreciation Capitalization versus expense Investments in common stock Manage the affairs of the company Analyzing the organization's performance
3. Lenders cash flow available to service debt profitability of the operation company's liquidity Viability based financing is especially associated withventure capital.
4. Suppliers Sales in the organization Creditworthiness of the business liquidity information cash flows
5. Government Make sure the companies are following applicable laws Taxation and regulatory purposes Track of economic progress different sectors of the economy.
6. Customers Financial strength and staying power of the company financial position of its suppliers Sales in the organization
7. Employees Need these reports in making Compare from last year reports Earnings and revenue growth of the company investing is worth or not. Cash flow trends Debt load Profitability
http://www.accountingverse.com/accounting-basics/users-of-financial-statements.htmlhttp://finance.mapsofworld.com/financial-report/statement/users.htmlhttps://www.boundless.com/accounting/textbooks/boundless-accounting-textbook/introduction-to-accounting-1/what-is-accounting-17/uses-of-financial-reports-112-6832/
2.3The Impact of Financial StatementsBusinesses regularly put out financial statements such as the income statement, balance sheet and statement of cash flows. When these financial statements are released, they can have large impacts on the business and on the investors of the company. Therefore, it is critical for the business to ensure that the information the statements present is correcthttp://smallbusiness.chron.com/impact-financial-statements-23794.html
I. DebenturesExample-If the company borrows a Smith International trade for Rs. 20,000.00 with interest rate of 10% per year.
Income StatementNo effect to the income statement. However, the Interest rate will be stated in expenses as interest rate expenses as Rs. 2,000.00.
Balance SheetUnder the section Long term Liabilities will increase to Rs. 20,000.00 and Current asset section will increase as cash to Rs. 20,000.00.
Cash flow statementCash flow statements will Debit Rs.20, 000.00 Cash flow statements Credited as Rs 2,000.00 as interest ratesSmith International trade account Credited RS. 20,000.00
II. Bank loansExample-If the company has a loan of a Commercial bank for Rs. 50,000.00 with interest rate of 10% per year.
Income StatementNo effect to the income statement. However, the Interest rate will be stated in expenses as interest rate expenses as Rs. 5,000.00.
Balance SheetUnder the section Long term Liabilities will increase to Rs. 50,000.00 as Commercial bank loan and Current asset section will increase as cash to Rs. 50,000.00.
Cash flow statementCash flow statements will Debit Rs.50, 000.00 Cash flow statements Credited as Rs 5,000.00 as interest ratesCommercial bank account Credited RS. 50,000.00
III. Leasing Example- Company purchase a Lorry from LB finance with initial installment for Rs. 100,000.00 however the Lorry value of Rs. 350,000.00 and the rest of the value would be installment with interest Rs. 300,000.00 for the year.
Income Statement No effect to the income statement. However, the Interest rate will be stated in expenses as interest rate expenses LB finance as Rs. 50,000.00.
Balance SheetUnder the section Non- current Assets will increase as Lorry to Rs. 350,000.00 and current asset cash will decrease as Rs. 100,000.00 and the Current liability will increase as LB finance 300,000.00 and net profit will decrease as interest rate expenses Rs. 50,000.00.
Cash flow statementCash flow statements will be credited as interest rates Rs.50, 000.00 Cash flow statements Credited as Rs 100,000.00 as Lorry purchaseLB finance account will be credited as Rs. 300,000.00
IV. Bank overdraftExample-Company uses an overdraft the commercial bank account for Rs 20,000.00 to purchase machinery of Rs. 120,000.00
No effect to the income statement.
Balance SheetUnder the section Non- current Assets will increase as machinery to Rs. 120,000.00 and current assets cash will decrease for Rs. 100,000.00 and the Current liability will increase as commercial bank overdraft Rs. 20,000.00
Cash flow statementCash flow statements Credited as Rs 100,000.00 as machinery purchaseCommercial bank account will be credited as Rs. 20,000.00
V. Sale of assetsCompany Sale an unused Lorry for worth of Rs. 500,000.00
No effect to the income statement.
Balance SheetUnder the section Non- current Assets will decrease as machinery to Rs. 500,000.00 and current assets cash will increase for Rs. 500,000.00
Cash flow statementCash flow statements Debit as Rs 500,000.00 as Lorry saleLorry account will be credited as Rs. 500,000.00
http://www.investopedia.com/university/business-plan/business-plan7.asp
up to here
Task 03
The estimated data for Orient Ltd two machines available on the market are as follow,
Machine AMachine B
Initial investment Rs. 120,0000Rs. 96,000
Life project4 years 4 years
Year 01Rs. 38,000Rs.35,000
Year 02Rs.38,000Rs.35,000
Year 03Rs.35,000Rs.35,000
Year 04Rs.30,000Rs. 35,000
TotalRs. 141,000Rs. 140,000
Payback period for Machine A (PBP)
Payback period = INITIAL INVESTMENT(cash Outlay)/ANNUAL CASH flow
Rs. 38,000+Rs. 38,000+Rs. 35,000 = Rs. 111,000 = for 03 years
Initial investment with 03 year period totalRs. 120,000.00 - Rs. 111,000.00=Rs. 9,000.00
payback period,=9,000/30,000*12=3.6 months4months
Therefore the payback period would be,
PBP = 3years and 04 months
Payback period for Machine B (PBP)
Payback period = INITIAL INVESTMENT(cash Outlay)/ANNUAL CASH flow
Rs. 35,000+ Rs. 35,000 = Rs. 70,000 = for 2years
Initial investment different with 02 year period totalRs 96,000- Rs. 70,000.00 = Rs. 16,000.00
Payback period=16,000/35,000*12=5.4 months
Therefore the payback period would be,
PBP = 02years and 05 months
Accounting rate return (ARR) Machine A
ARR = Average Profit After Deprecation And Tax *100/ Initial Investment
Average profit after deprecation and tax = Rs. 141,000 Rs. 120,000 = Rs. 21,000/4 = Rs 5,250.00
ARR= Rs. 5,250 *100/120,000
=4.375 %
Accounting rate return (ARR) Machine B
ARR = Average Profit After Deprecation And Tax *100/ Initial Investment
Average profit after deprecation and tax = Rs. 140,000 Rs. 96,000= Rs. 44,000.00/4= Rs. 11,000.00
ARR=Rs 11,000*100/96000=Rs 11.458 %
Net present Value (NPV) Machine A
NPV=PV of net cash inflows-Initial cash investment
YearInitial investmentCash InflowsDiscount factor 15%Discount cash inflow
0120,000
138,0000.87033,060
238,0000.75628,728
335,0000.65823,030
430,0000.57217,160
Total101,978
NPV=Present valve of cash flow -initial investment = 101,978-120,000=(18,022)
Positive NPVYearInitial investmentCash InflowsDiscount factor 5%Discount cash inflow
0120,000
138,0000.95236,176
238,0000.90734,466
335,0000.86430,240
430,0000.82324,690
Total125,572
NPV=Present valve of cash flow -Initial Investment =125,572-120,000=NPV=5,572
Net present Value (NPV) Machine B
YearInitial investmentCash InflowsDiscount factor 15%Discount cash inflow
096,000
135,0000.87030,450
235,0000.75626,460
335,0000.65823,030
435,0000.57220,020
Total99,960
NPV=Present valve of cash flow -Initial Investment =99,960-96,000=3,960
Negative valueYearInitial investmentCash InflowsDiscount factor 18%Discount cash inflow
096,000
135,0000.84729,645
235,0000.71825,130
335,0000.60921,315
435,0000.51618,060
Total94,150
NPV=Present valve of cash flow -Initial Investment=94,150 - 96,000 =NPV=1,850
Internal Rate of return (IRR)
Internal Rate of return (IRR) Machine A
IRR=A +C * (B - A)
C - D
A= Interest rate that taken positive NPVB= Interest rate that taken negative NPV interest rateC=Positive NPVD=Negative NPV
IRR=A +C * (B - A)
C - D
IRR=0.05 +5,772 * (0.15 - 0.05)
5,772 - (18,022)
IRR=0.05 + 5,772 * (0.1)
23,794
IRR=0.05 + (0.244) * 0.1
IRR =0.05+ 0.024IRR=0.74
Internal Rate of return (IRR) Machine B
IRR=A +C * (B - A)
C - D
IRR=0.15 +3,960 * (0.18 - 0.15)
3,960 - (1,850)
IRR=0.15 +3,960 * (0.03)
5,810
IRR=0.15 + (0.681*0.03)
IRR=0.15 + 0.02043
IRR=0.170
Task 044.1Main Financial statements
Balance Sheet
A balance sheet can be described as a snapshot of a firms financial condition at a specific moment in time which is generally at the closing of an accounting period. A balance sheet is made up of assets, Liabilities and owners or shareholders equity.A balance sheet helps the business proprietor to gather information on the financial strengths and the potential capabilities of the business quickly. The balance sheet can also be used to identify and analyze trends, mainly in the areas of receivables and payables. Balance sheet one of the most vital and basic elements in providing financial reporting to potential leaders such as banks and other financial institutions, investors and vendors who are considering how much credit to grant the business.
Income Statement/Profit And Loss Account
An income statement is also commonly known as P&L statement. This is a summary of a firms profit and loss during any one given period of time. For instance, a month, 3 months, 6 months, 1 year etc The income statement helps to record all revenues generated and the operating expenses for a business during a given period of time.An income statement enables a firm to keep track of revenues and expenses so that they can determine the operating performance of the business over a specific period of time. It further enables a firm to find out what areas in the business are over budget and under budgeted. In addition items that are causing unexpected expenditures can be highlighted such as phone, fax, e-mail or supply expenses. Income statements can also help firm track dramatic increases in product returns or cost of goods sold as a percentage of sales. They can also be used to determine income tax liability.It is crucial to format an income statement so that it is appropriate to the business being conducted. Balance sheet and the income statement is the most vital document demanded by finance sources in order for them to decide weather to grant the firm loans and provide them with purchases on credit basis.
Statement Of Owners Equity
This is also referred to as the statement of retained earnings. This document is one of the four main financial statements that quantify the financial position of organizations operations at a specific period in time. The statement of owners equity details the changes made to the owners equity account during the accounting period as the organization issues dividend payments and retains money for the use within the organization for investment. To completely define the statement of owners equity the firm has to settle the previous equity balance with withdrawals or dividend payments, investments and income of the present financial year.
http://www.investopedia.com/university/business-plan/business-plan7.asp
4.2 Balance sheet and income statement
Financial statement Sole tradorCompaniesCompare
Balance sheet
Dividend
Income statement
Sole trade
Companies
Compare
4.3 compare two annual reports of two companiesWatawala Plantation
Kotagala Plantation
3.0. Conclusion
4.0. References
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