Financial Management: Importance, Processes, and Performance Improvement

Section 1: Financial Management Concepts and Importance

Demonstrate the skills and knowledge to interpret basic financial data.

Demonstrate the skills and knowledge to maintain basic financial records

Illustrate how financial data analysis can aid decision making in business.

Demonstrate ICT skills in data manipulation

Produce a report based upon the Case Study provided to answer the following question:

Define and discuss the concept and importance of financial management. Using examples, describe and discuss the processes businesses might use to improve their financial performance.   

Your report should include the following sections:-

Section 1

Define and discuss the concept and importance of financial management

Section 2

Describe and discuss the main financial statements and explain the use of ratios in financial management.

Section 3

i.Complete the Information on the ‘Business Review Template (Ensure that you  display your calculations for this detail).

ii.Using Excel produce an Income Statement for the Sample Organisation (see Case Study). This should be included within your appendices.

iii.Using Excel complete the Balance Sheet

iv.Using the Case study information describe the profitability, liquidity and  efficiency of the company based on the results of ratio analysis.

Section 4

Using examples from the case study describe and discuss the processes this business might use to improve their financial performance.

Your report should be written using proper English grammar and should be   referenced appropriately.  Each reference cited in the report must appear in the reference list at the end.            

Your report must include at least three books and two journal articles, the use of non-academic websites is not permitted.  

Specific Assessment Criteria

First class: The report will be to a high standard. It will provide a comprehensive overview of the concept of management. Particular attention will be given to business objectives structures and roles. It will provide a detailed discussion of the main functions of a financial managers within businesses.It will show a clear discussion of the processes businesses might use to improve their performances and to mitigate risks. Referencing within the report will be excellent and used effectively throughout to support the points discussed.

Second class:The report will be to a good standard. It will provide a clear overview of the concept of management. Attention will be given to business objectives, structures and roles. It will provide a good discussion of the main functions of a financial managers within businesses.

It will show a good discussion of the processes businesses might use to improve their performances and to mitigate risks. Referencing within text and list at end will be good

It will describe the business objectives, structures and roles. It will provide some discussion of the main functions of a financial managers within businesses.. It will show a some discussion of the processes businesses might use to improve their performances and to mitigate risks.

Demonstrates a comprehensive knowledge of theory and practice for this level. Demonstrates ability in the manipulation and transfer of subject material to demonstrate a solid understanding of the issues.

Demonstrates a sound knowledge of theory and practice for this level.  Manipulates and transfers some material to demonstrate a clear grasp of the themes, questions and issues.

Demonstrates an adequate knowledge of theory and practice for this level, with evidence of an appreciation of its significance.