Assignment Task
Aims of this Unit
Managers are responsible for the performance of their business units within their organisations and financial performance forms part of that responsibility. This unit aims to
provide students with the foundations of Financial Management so as to equip them to be able to more effectively meet their responsibility for financial performance. This includes being able to understand and evaluate the financial impact of decisions and activities within their organisations, and also be able to use financial information more effectively when making decisions.
Students will be introduced to terminology, principles, frameworks and models that underpin Accounting and Finance. These include the structure and content of financial reports, techniques and principles of budget development and control, costing principles and models, techniques for making capital investment decisions, and funding structures and decisions within organisations.
In this unit, theoretical frameworks and models are provided as the foundation for learning, and from there theory is embedded within practical applications – both within students’ organisations and in other practical case studies.
One of the aims of the unit is for students to understand how financial principles and information can be used to better inform their operational and strategic decisions, and to understand how applying these principles ethically underpins responsible financial management and helps build sustainable enterprises.
Knowledge and Understanding
This unit is designed to provide students with an understanding of:
• The business context and its impact and relationship to financial information and practice
• General Purpose Financial Statements (GPFS); including key accounting concepts, terminology and disclosure practices
• Financial analysis techniques and their application to interpreting financial information on GPFS
• Approaches for analysing costs and examining cost behaviour, and how this applies to effective cost management, including budgeting
• Principles and techniques for adopting a structured approach to making capital expenditure (investment) decisions
• Principles of business financing and its organisational impact
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