Table of Contents
Report: Check the financial health of a business
Submission details
The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.
Submit this document with any required evidence attached. See specifications below
for details.
Performance objective
The candidate will demonstrate the skills and knowledge required to analyse financial and economic information to achieve the objectives of an organisation. It covers the use and interpretation of financial information to support business decision making, analysis and use of budget systems and reporting processes and the impact of micro and macro-economic information on enterprise planning.
Assessment description
This assessment task consists of preparing a report for an organisation of your choice for analysing and reporting financial information to check the financial health for a business.
The detail of the assessment task to be performed are given below in the procedure.
Procedure
- Select the organisation of your choice.
Discuss:
- Financial objectives of your organisation and resources required to achieve those objectives.
- How financial forecast has been made by the company
- Financial contingency plans made by the company
- Any two financial reports being used by the company
- Macro and micro economic factors that impact on enterprise financial capabilities
- How does the company review and report financial performance of their business?
Note: There is no particular format for the report. However, you are required to cover the above-mentioned points.
Specifications
You must:
- meet with your assessor to clarify the questions if required
- provide suitable examples where necessary
- give reference to information you have gathered from any additional sources
- submit your notes.
Your assessor will be looking for your ability to:
- negotiate, monitor and review an enterprise financial strategy based on valid data analysis
- use and analyse financial and economic information to achieve enterprise objectives and maximise returns on financial resources
- analyse and use budget systems and reporting processes including:
- calculating balance sheet ratios
- calculating income statement ratios
- calculating cash flow statement ratios
- monitoring income and expenditure
- forecasting expenditure
- developing contingency plans
- adjusting budgets
- review and report on financial performance
- use financial data to support strategic decision making including:
- modelling financial scenarios
- conducting a cost benefit analysis
- consulting with financial advisers
- agreeing on performance indicators.
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