Finance for Managers

861 words 4 pages
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
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Guidelines for assessors The assignments submitted by students must achieve the learning outcomes and meet the standards specified by the assessment criteria for the unit. The suggested evidence listed below is how students can demonstrate that they have met the required standard. Task Number 1 Assessment criteria 1.1, 1.2, 1.3, 1.4, 3.1, 3.2, 3.4 Suggested evidence Answers should give comprehensive explanations in all areas and give an accurate reflection of the legal and regulatory requirements in relation to financial recording and reporting. They should assess the usefulness of the financial statements to different groups of stakeholders considering the purpose of the statements and explain why management accounting information is more effective for management purposes. Answers should detail sales, direct labour, direct materials and fixed overheads variances and include a reconciliation of budgeted and actual profit. Adverse and favourable variances should be identified. There should be a comprehensive explanation of variances and how they have arisen including identifying further information needed to fully explain variances e.g. why materials price might have changed etc. Answers should give calculated investment measures for each project with an explanation of any assumptions made. There should be an evaluation of the methods pointing out the strengths and weaknesses of each method. Answers should include a clear

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