Personal Finance and Financial Statements

Satisfactory Essays

Unit: Unit 2 – Managing Financial Resources and Decisions
Learning Hours: 60 Hours.
Self-learning hours: 90 hours.
Course: HND Business
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Prepare a report answering the following queries. The report should not exceed 4000 words.

Task 1
P1. Explore the sources of finance available to a business
1.1 Identify the sources of finance available for the business.
1.2 Assess the implications of the different sources
1.3 Select appropriate sources of finance for the business project.

Task 2
P2. Analyze the implications of finance as a resource within a business
2.1 Assess and compare the costs of different sources of finance.
2.2 Explain the importance of financial planning and design a financial plan for the business.
2.3 Describe the information needs of different decision makers.
2.4 Describe the impact of finance on the projected financial statements.

Task 3
P3. Make financial decisions based on financial information
3.1 Prepare a budget and make appropriate decisions.
3.2 Calculate Unit cost for any two products of your choice and make pricing decisions using relevant information. This will help her to prepare the unit costs for other products.
3.3 Assess the viability of the project to her by using investment appraisal techniques.

Task 4
P4. Analyze and advice how to evaluate the financial performance of the business
4.1 Explain the purpose of the main financial statements
4.2 Explain the purpose for choosing the format by describing the differences between the formats of financial statements for different types of business
4.3 Analyze the projected financial
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