Financial Management

Financial
Management

SCENARIO A.................................................................................................................................1
Introduction..................................................................................................................................1
MAIN BODY..................................................................................................................................1
Range of approaches, techniques and factors contributing to effective decision making...........1
Stakeholders.................................................................................................................................2
Value of management accounting...............................................................................................3
Fraud and detection of fraud........................................................................................................4
Ethics...........................................................................................................................................6
Reflection.....................................................................................................................................6
SCENARIO B..................................................................................................................................6
Introduction..................................................................................................................................6
MAIN BODY..................................................................................................................................7
How data help in obtaining operational or strategic decision in context of organization...........7
Compare and contrast the three different investment appraisal techniques.................................9
Values of techniques which aid in decision making process.....................................................12
Evaluate that how financial decision making support the long term sustainability..................13
Give recommendations which help the accountant to improve their financial sustainability...13
Conclusion.................................................................................................................................14
REFERENCES..............................................................................................................................15

SCENARIO A
Introduction
Financial management helps to analyze that financial role of the business which leads to
the financial planning of the problem. Financial planning is an essential part of the business
concern that contributes to a firm's development. Accounting information enables firm to make
sound financial decisions (Calabrese and Ward, 2018). This section based on the several topics
such as different range of financial management approaches, techniques or factors which
contributes in effective decisions making process. It also includes the stakeholder management,
conflict between management and shareholders, value of management accounting etc. In
addition, this section covers the different types of fraud, ethics in decision making process or
reflection of this concept which understood by the individual.
MAIN BODY
Range of approaches, techniques and factors contributing to effective decision making
Range of approaches:
Formal or informal approach: It helps the decision-making phase of the company to
create a cohesive plan. This approach removes the objective decision-taking process and offers
examples of the reasons needed for decision making (de Azevedo And et.al., 2020). It helps to
increase the ability to select strategies that meet the different stakeholder needs of the job.
Rational alternatives are available which reduce the complexity associated with the tasks. The
strategy makes for a more immediate reassessment of the conditions, objectives or target shifts of
the partners. It lets Tesco Plc to make more strategic decisions across all aspects.
Knowledge based approach: It involving theories, different knowledge and religious
practices from a broad array of disciplines and trying to apply them when it appropriate to the
organization. These can include ideas of leadership, philosophy, management of transformation,
and corporate culture; understanding of faith, social relationships, development, and awareness;
and practices of self-help, and future human revolutions. Continuing to work from a broad skill
set allows the manager of Tesco Plc to shape a strategic plan to operate with the customer based
on factual, credible resources, and to represent the needs of the customer with greater emphasis
and precision.
Techniques:
1