The finance project management fundamentals

Running Head: FINANCE
FINANCE
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Part 1
Financial Planning
Financial Planning is the process in financial decisions that involves the estimation of
the required capital of and plan accordingly to gain the competitive advantage. This process
includes all the financial policies that is related to the procurement and investment activities
related to a business enterprise. This type of financial planning is done by the financial
services industry or a banking industry to estimate their capital. This is done by various
financial professions that has acquired finance degree from a recognised university and has
expertise & experience in this field. Some of the financial professions are:
 Financial Analyst- A financial analyst person is involved in the financial analysis
activities of a business. They can be also known as research analyst, investment
analyst or equity analyst. They are mainly employed by insurance companies, mutual
fund companies, securities firms and corporate firms. The corporate financial analyst
is involved in mainly performing the cost & budget modelling frameworks. They do
this with the help of spreadsheets or statistical software that help them to easily
analyse the data, spot and forecast the trends (Eugster 2019). They so this along with
the company officials to understand and insight it more better and allow the company
to manage its capital effectively.
Financial analysts of investment banking sectors generally works in a team. They
analyse & forecast the future prospect of the companies along with these team members.
They do this according to the ethical compliance and regulations that has compiled by the
Securities and Exchange Commission regulations (Aharoni, Shemesh and Zapatero 2019).
They also works with merger and acquisitions to analyse the benefits of the cost with related
to the merger and acquisitions.

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Financial analyst helps in capital budgeting of the project by doing profitability
analysis of the project. They do this according to the strategy of the company. They are also
involved in Scenario analysis, planning of dividend policy & capital structure of the business
(Withisuphakorn and Jiraporn 2016). Financial analyst is very helpful because, they can build
a financial models in case of any complexity during the quantitative analysis of the business.
Their reports and findings helps to easily forecast the company’s future trends. Financial
analyst earn on an average of $85,660 and also more than this figure.
Financial planning is not a profession. It is a financial activity that is done by the
financial professions. Financial analyst are also known as financial planners. This is because,
they are involved in data collection, doing research on financial prospects of the business,
analyse & forecast the data, make advise to the company management for making financial
decisions and efficiently manage the financial transactions that can help the company to grow
their business profits (Patel 2017). The most important skills required to do financial planning
is a good interpersonal skills, a good financial reporting process, expertise in the subject and
good ability to communicate within the team members. They must also have the capacity to
do the innovations. This can be developed by analytical ability.
 Accountant- Accountant are the individual who have cleared their competency in a
certified exams like Chartered Accountant, Chartered Certified Accountant or any
CPA from a professional associations. They have the ability to certify the financial
statement of an organisation. An accountant learns to interpret, construct & identify
the critique of the financial statement of a company. They do complex works of
accounting. This can be done by developing accounting skills. An accountant analyse
the business process in more detail through the accounting process (Okwuosa and
Amaeshi 2018). They are involve in doing audit analysis. This is known as financial
statement analysis. Accountant are employed by an accounting firm or accounting

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department of any corporate firm. The professional certifications is given by National
Professional Associations.
They perform the auditing practices by following the ethical guidelines or principles
that has been set the International Financial Reporting Standards (IFRS) and GAAP
(Generally Accepted Accounting Principles). Accountant are special because, they can have
more than one designations in one firm. They perform multiple accounting duties in a
business. They educational background allow them to perform multiple duties in their
professions. They have a legal responsibility to perform their job with honest and avoid any
kind of negligence in their duty. They are also responsible to pay any kind of uninsured
losses to their investors & the creditors in case of fraud or any kind of misstatement in their
duty. They can review the company’s tax situation & help in structuring the financial
situation of the business. Hence, in this way they can save the money (Wang, Balle and
Kasiviswanathan 2018). The bookkeeping process helps to easily find the recorded
transactions when the company wants to detect the issues in its history, Accountant maintains
this book-keeping transactions to further prepare the financial statement. They helps in doing
the auditing process.
An accountant are involved in financial planning process by doing the auditing work.
This involves the financial forecast of the company’s financial statements. This will help the
financial planners to adequately prepare the wealth management report and other kind of
financial planning system. They help the financial planners to network their business and
increase their sales. They work along with financial advisors to save the money and grow the
business capital. CPAs mainly focus on providing taxes of the company and help the
financial planners to grow their income. Financial advisors do this my making investments in
various business projects (Schoenfeld, Segal and Borgia 2017). An accountant must learn to
effectively present the financial information to their clients with the help of charts, visual aids