Financial Management: Concept, Importance, and Processes for Improving Financial Performance

Learning Outcomes Assessed:

LO1 Demonstrate the skills and knowledge to interpret basic financial data.

LO2 Demonstrate the skills and knowledge to maintain basic financial records

LO3 Illustrate how financial data analysis can aid decision making in business.

LO4 Demonstrate ICT skills in data manipulation

Assignment brief:

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

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  

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.            

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.  

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

Specific Assessment Criteria (See Page 3 for General 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:

You are required to submit a soft copy via “Turn-it-in UK” on the module 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.  You will be able to upload drafts of your written work into turn-it-in as many times as you wish before the deadline.  You will not be able to overwrite the final submission after the deadline. You can only submit a single file.