Financial Management: Definition, Importance, and Process for Businesses

Main Financial Statements and Ratios in Financial Management

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.  

The report and workings must be submitted in a single Word file.

Section 1

Introduction : 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

The templates provided by the company need to be adjusted for an understatement of the Turnover for 2020. You need to increase the Turnover (£189,711) by an amount equal to the final four digits of your student number. The same amount also needs to be added to the Cash at bank and in hand.

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

Please note - Excel worksheets can be inserted in Word documents.

Section 4

Using examples from the case study (including key ratios) describe and discuss how this business might improve their financial performance.  

Section 5

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 in the format provided in LEAP Online.

Academic Sources

Your report must include at least three books and two journal articles, the use of non-academic websites is not permitted - your sources must only included materials located using Discover at Bolton.

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

Third class: The report will be to a satisfactory standard. It will provide an overview of the concept of management. 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. Some references within text and list at end.

Fail: Unable to meet the requirements of a third class grade.

Additional Submission Instructions:

The assignment must be submitted into Turnitin via the Moodle page. The software will allow you to check your work against other material on the internet. It will also compare your work against other students work.