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Finance for Managers

In: Business and Management

Submitted By UbiMa
Words 875
Pages 4
Unit 4.9 Level 4

Finance for Managers 15 Credits

Sample Assignments

You are employed in a financial consultancy and one of your clients is a relatively new company that is facing rapid growth. As they began as a small family business, they have not had the level of financial control that would be expected in a business of their current size. The management team are looking to employ an accountant. Before taking this step they need to understand the reasons for recording and reporting financial information, the legal responsibilities they have in this respect and the usefulness of financial information. They also require some specific help in relation to working capital and in respect of a new project which they are considering. You should assume the business is incorporated i.e. in the UK as a limited company; in other countries, the equivalent. Your answers can be based on law and regulations in the country of your choice as agreed with your tutor. You are required to produce a written document for the board of directors that answers their questions about accounting and financial control and to produce some calculations in respect of figures they have provided.

Task 1 Produce a written document for the board of directors that: • • • • • • Explains the purpose and requirements for keeping financial records Analyses the techniques for recording financial information Analyses the legal and organisational requirements of financial reporting Evaluates the usefulness of financial statements to stakeholders Explains the difference between management and financial accounting Explains the budgetary control process Describe different costing methods that are used to determine product pricing

Task 2 The business carried out some calculations on set up and the following information relating to their main product was produced: £ Sales Revenue Direct...

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