Assignment Detail


Explain the importance of financial planning

    Assignment Instructions

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    Managing Financial Resources and Decisions


    The unit aim is to provide learners with an understanding of where and how to access sources of finance for a business, and the skills to use financial information for decision making.

    Learning outcomes and assessment

    Learning outcomes

    LO1 Understand the sources of finance available to a business

    1.1 identify the sources of finance available to a business

    1.2 assess the implications of the different sources

    1.3 evaluate appropriate sources of finance for a business project

    LO2 Understand the implications of finance as a resource within a business

    2.1 analyse the costs of different sources of finance

    2.2 explain the importance of financial planning

    2.3 assess the information needs of different decision makers

    2.4 explain the impact of finance on the financial statements

    LO3 Be able to make financial decisions based on financial information

    3.1 analyse budgets and make appropriate decisions

    3.2 explain the calculation of unit costs and make pricing decisions using relevant information

    3.3 assess the viability of a project using investment appraisal techniques

    LO4 Be able to evaluate the financial performance of a business

    4.1 discuss the main financial statements

    4.2 compare appropriate formats of financial statements for different types of business

    4.3 interpret financial statements using appropriate ratios and comparisons, both internal and external.

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