Financial Management Principles for Long-Term Financial Sustainability

This document discusses the implementation of various methods to assist successful movements in financial management. It analyzes the governance standards of funding and key administrative principles required for creating a successful monetary system and delivering effective financial strategies for long-term financial sustainability. The role of management accountants and accounting control systems in supporting ethical financial management is evaluated. Additionally, the ways in which financial decision-making supports sustainable performance are evaluated.

FINANCIAL MANAGEMENT

Table of Contents
INTRODUCTION...........................................................................................................................3
LO1. Implement various methods used to assist successful movements........................................4
P1. Apply various formal and informal methods used to help the dynamics of success in some
official models.............................................................................................................................4
M1. Analyze formal and informal approaches applied to support decision-making addressing
both advantages and disadvantages.............................................................................................6
LO2. Analyze the governance standards of funding used to support powerful budget systems.....9
P2. Analyze key administrative standards related to funds required by associations to create a
successful monetary system for long-term budget maintenance.................................................9
M2. Critically analyze the key financial management principles and their importance in
delivering effective financial strategies for long term financial sustainability..........................11
LO3. Evaluate the role of management accountants and accounting control systems..................12
P3. Evaluate the role of management accountants and their value as part of an integrated
system........................................................................................................................................12
P4. Evaluate the use of accounting control systems and their value as part of an integrated
business system..........................................................................................................................12
M3. Critically evaluate the role of management accountants and accounting control systems to
support a culture of ethical financial management....................................................................12
LO4. Evaluate ways in which financial decision-making supports sustainable performance.......15
P5. Evaluate the ways in which financial decision-making is important for supporting long
term financial sustainability.......................................................................................................15
M4. Critically evaluate how different ways of financial decision-making support long-term
financial sustainability...............................................................................................................17
CONCLUSION..............................................................................................................................19
REFERENCES..............................................................................................................................20

INTRODUCTION
The essential execution of a procedure is based on three basic factors: the association of an
external situation, a reasonable internal vision of the capabilities of the center and the support
hands and careful performance and observation. This article discusses the role of money in vital,
dynamic, interpretation, execution and observation reconciliation.
Reasonable rationalization implies dimensions that define the vision and a specific strategic
focus. This is crucial because the agreements are ultimately fundamental for the distribution of
the activities and would not be appropriate if the activities were unlimited. This article aims to
clarify how money, budget objectives and monetary performance can play increasingly critical
roles in the critical configuration and dynamic approach, especially in the point of use and
observation.
The long-term financial planning strategy provides the regional council with a tool to help
determine options for strategies, administrations and other diversionary issues by using
standardized agreements according to an understanding constrained by nine standard budgets to
help the peel region become fairly resilient. The strategy provides the Council with better long-
term data when considering numerous negotiated options that affect administrations, such as
affordable long-term housing strategy, affordable transport and energy from residual resources. It
ensures that the elements, for example, the impact of the cost / convenience rate on the resident,
the liability and retention rates and the incentives for the money will be considered as
determinants of these options.

LO1. Implement various methods used to assist successful movements
P1. Apply various formal and informal methods used to help the dynamics of
success in some official models
Decision making is not an easy task for any organization; lot of analysis and critical thinking
requires before reach to a particular conclusion. There are certain approaches which are preferred
by organizations to support their effective decision making process:
Formal Approach:
In this approach; companies take support of their internal sources and formal authorities to take
decision. Here Unilever has been taken as example to understand how firms use formal approach
to support effective decisions. Some of the methods of formal approach have been discussed
below:
Structure: Each specific unit is led by its own leader, who, in theory, is better prepared to
understand the requirements and issues of that particular unit. This allows for the consolidation
of implementation data at the administrative level where the official level can directly access the
most relevant data for objective and management purposes. This defines the content of the
organizational activities and only feeds the consequences of tasks that make the stools go up to
the officers and the governing body (M.E. Porter, 1996).
The structures of the corporate authorities emerged to separate the dynamic movement. The
execution of the mill association chart reveals a number of important powers begin with the
administrator, the CEO and other official officials at the top while the official officers set the
goals and influence of the organization. Supervisor ranks below the official level are responsible
for implementing these goals in their areas of responsibility or departments, which are organized
by an adequate flow of data from the directors.
A hierarchical structure that separates agency functions into specific offices allows
administrators of these departments to manage problems and create procedural and wording
efficiencies incorporated into their specific offices. It likewise makes the level of business
administration where effort information is created, tested and saved for the efficient future

operation of the department, just as open as those in higher management than accused of
organizing a large enterprise (M.E. Porter, 1996).
Processes: The steps suggest easy. More broadly, they can be classified as assortments of
commissions and joint exercises - and only together - that modify return contributions. Within
organizations, these sources and data products can be managed as resources, data, and
individuals. Common application scenarios include the development of new products,
application for satisfaction and customer support; Investors are extremely smart but also the
same in terms of distribution of resources and energy.
Systems: Managers must quickly access the data to draw conclusions on key issues related to
revenue, advertising and operations. Organizations collect a variety of data processes, including
customer records, process information, statistical research, financial accounting records, data
collection and inventory information and personal property records. However, most of this
information is stored in idle department problems, making it difficult for leaders to get
information quickly (M.E. Porter, 1996).
The control information system improves and accelerates data processing by placing the
information in a single position open with the system. The result is a quick and well-managed
election.
Informal approach:
This approach supports decision making by considering the facts other than formal approach. It
focuses on non organizational outcomes with effect of taking decision. Some of the methods of
informal approach are discussed below:
Relationships: When two people enter into a relationship, the amount of choices they should
make about their killings is basically due to the fact that their respective circles of choice cover.
This is not necessarily based on the fact that these choices have to be made together, but simply
because you see someone influencing the other person on all the choices you make
independently (M.E. Porter, 1996). In order to maintain a good relationship, each facilitator
should think of his partner in any situation. Whether you are deciding on options together or

considering each other in your individual choices, there is generally not much that should be
done entirely on your own.
Be that as it may, the extent to which your two-choice cycle depends entirely on you and your
performance, and is unique to each couple. In any case, the more options a couple can share or
provide without a doubt, the better. In the event that one or two patrons settle on one-sided, one-
sided choices, at that point, sometimes, the relationship will last.
Networks: The decision-making process to introduce new antibodies into national immunization
programs is often astounding, involving many participants who provide specific data, prepare an
account, and fill in data, implement projects and gain political assistance. Participants can have a
variety of levels of knowledge, information and motivation to demonstrate new approaches. The
lack of compatibility with the need, the value of general well-being or the ability to introduce an
alternative strategy for Unilever can diminish the approach choices (M.E. Porter, 1996).
Efforts to assist a nationwide dynamic have largely focused on building increases worldwide and
providing delegates with data on the approach. There has been less consideration of
understanding the synergies of the characters on the screen and how affective circulation affects
strategy and dynamic approach.
Unwritten rules: Politics, firmness and favors have a strong influence on dynamic methodology.
At best, organizations put 80% of their choice to death and 20% on government connections and
problems. Many people influence choices and, from time to time, legislative matters are the best.
Try not to assume that someone's situation means that person has power (M.E. Porter, 1996).
M1. Analyze formal and informal approaches applied to support decision-
making addressing both advantages and disadvantages
Advantages of formal approach to support decision making:
1. Procedural approach:
The formal structure of the company provides a detailed and regular functioning of a company.
2. Achievement of organizational decisions:
A formal classification structure is established to achieve authoritative goals.

3. Don't go beyond ideas:
In the formal structure of a company, work is freely divided between different offices and
representatives. So there is no possibility of duplication or overlap of work (M.E. Porter, 1996).
4. Location:
A formal hierarchical structure produces various office exercises.
5. Manufacturing of the chain of command:
A formal authoritative structure clearly reflects a common sub-sexual relationship, i.e. who
reports to whom (M.E. Porter, 1996).
6. Greater emphasis on decisions related to company growth:
A formal authoritative structure allows for greater emphasis on work than relationship
relationships.
Disadvantages:
1. Referral in real life:
When you follow an intelligent chain and a hierarchy of leadership activities, they are liquidated
into a formal structure.
2. Avoid employee social needs:
A formal authoritative structure does not make sense of the mental and social needs of
employees who can motivate agents (M.E. Porter, 1996).
3. Only accentuation of the work:
The formal structure of the classification offers meaning for direct work; neglect human
relationships, innovation, gifts and so on.
Advantages of Informal approach
1. Quick outcome:

Casual structure doesn't follow scalar chain so there can be quicker spread of correspondence.

LO2. Analyze the governance standards of funding used to support
powerful budget systems
P2. Analyze key administrative standards related to funds required by
associations to create a successful monetary system for long-term budget
maintenance
Financial Stability: Financial stability as the ability to start, develop and maintain your business
with short and long-term budget stability. In any case, the number of intelligent staff
administrators who rely solely on their offers or human resources skills to develop their business,
and generally do not know where they are or where they are going, is not surprising (R.K.
Johnson, 2006).
While short-staffed entrepreneurs provide a series of explanations behind the beginning of their
commitment - working for themselves, fulfilling individuals ’circumstances upon landing,
fulfilling a need in the fraud - you won't be good at moving on without benefits and feasible
development (that word still exists).
Financial management principles required by organizations to achieve effective financial
strategies for long term financial sustainability:
Financial sustainability principles have been established as the guiding considerations against
which financial strategies and decisions will be deliberated. One wonders how many
administrators of wise employees rely directly on contracts or human resources skills to develop
their business, and generally do not know where they are or where they are going (R.K. Johnson,
2006).
While short-term employees will provide an explanation for their commitment - working for
them, fulfilling people's roles, satisfying a need in the mall - you won't go far without the strong
and feasible benefits of development (there is new that word). Some of the principles include:
1. STRATEGIC PLAN AND CORPORATE PRIORITIES

Strategic planning is an administrative tool. It is used to allow a society to define its future - to
centralize its vitality and to help individuals in the society move towards similar goals. The
organization’s approach changes the direction of the society according to a growing situation.
Organizing life is a limited attempt to help the key choices and actions that shape and guide what
a society is, what it does and why it does it, with an emphasis on where it should go and how to
get there (R.K. Johnson, 2006).
2. PROVIDE SERVICES IN AN EFFICIENT MANNER
In the modern scene of Internet-based life, customer care needs must be met through
interpersonal communication and must be done quickly. 42% of customers expect to receive a
response via web-based network media within 60 minutes. To give you an idea of how this will
happen from time to time, most organizations on Twitter simply send a response to that request
for each day (R.K. Johnson, 2006).
3. PROVIDE SERVICES AT AN EQUITABLE (FAIR) AMOUNT
With data sharing points and updating letters with performance groups, we hold quality meetings
before or after peak times twice a year. Nearby, by sharing the problems and creating a system in
these peak times, a quality manual is used and agreed to guarantee quality control. For returning
investors, our essential approach is to pay stable and consistent profits, considering an in-depth
assessment of business performance and working conditions. At a basic level, the percentage of
profit margins is set at 30% or more (R.K. Johnson, 2006).
4. TRANSPARENT WITH KEY STAKEHOLDERS
Stakeholders can influence the outcome of the battle because they will have regular access to the
information and goods you need. Regardless of whether it helps you identify campaign
characteristics or support a bid for more funding, participants influence the effectiveness of any
action or battle.
Stakeholders can describe your organization's colleagues, business managers or battle leaders,
group administrators, campaign sponsors, messengers and finalists of what you expect from
work (R.K. Johnson, 2006).

M2. Critically analyze the key financial management principles and their
importance in delivering effective financial strategies for long term financial
sustainability
Long term financial sustainability techniques are used as sensible practices and strategies that are
used to achieve a specific purpose or that can be reasonable and ensure how strong a currency is
relative to the world. -State. The existing cash systems are consolidated and provided in the
structure and used as a source of perspective in the movement of money. In addition, significant
standards of financial support and reflection are applied to all money management strategies
(R.K. Johnson, 2006).
Be that as it may, a formal budget financing process is needed. As there are several methods of
monetary reconciliation, a collaborative approach will help determine which methods should be
created and initially redefined to meet needs and provide assistance in investigating problems.
The approach involves the creation of gas and longer-term budget scenarios to take into account
the factors related to real money in the future and the long-term prospects for directors. The
hypotheses and scenarios that are developed, related to the joint effort with key partners, control
the technical aspects that should be created and further updated. Likewise, the procedure takes
place as a clock to differentiate and address changing needs and conditions, new issues and
potential risks and their impact on gases, plans, procedures and practices. Once a model of the
procedure is completed, the system will be examined to merge changes in standards, procedures
and procedures, where appropriate (R.K. Johnson, 2006).
The long-term financial sustainability framework (LTFSF) was created to reflect future budget
limits through its standards, procedures and methodology. Use of the system will guide the
company in determining important options to help understand the county's goals and withdrawal
goals. The fabrication of the structure represents an important advance in preparing the
sustainability of the budget, to help achieve the key provision (R.K. Johnson, 2006).

LO3. Evaluate the role of management accountants and accounting
control systems
P3. Evaluate the role of management accountants and their value as part of an
integrated system
The role of the management accountant is to progress actions to ensure the security of his
organization’s budget, dealing with all matters of financial concern and in this way assisting with
to oversee the general administration and procedure of the company (T. Jick and M. Peiperl).
Board of accountants is key people in determining the status and performance of an organization.
Some decide to turn to a Certified Management Accountant (CMA), a qualification similar to a
CPA, however with more focused attention on cost accounting, money organization and board
issues (J.A. Pearce and R.B. Robinson, 2000).
Labor duties can usually be fulfilled. Depending on the organization, your level of experience,
the season and type of business, you may be doing one of the commissions that accompany
them:
 Design
 Pay attention to the assessments
 Monitors the benefits for the choice of salary and support contract
 Assist in vital organization (J.A. Pearce and R.B. Robinson, 2000).
P4. Evaluate the use of accounting control systems and their value as part of
an integrated business system
Any type of accounting framework can offer incredible benefits to an independent company.
These benefits are enhanced by a unified accounting framework, which in turn receives and
disseminates a steady stream of information regarding cash related activities. A rooted
framework eliminates the requirement to reset information, while ensuring that your records are
always up-to-date (J.A. Pearce and R.B. Robinson, 2000).

The combination of technical and asset modes, from the operational level to the main level,
requires managerial control panels for assessment and implementation advice. The structures of
the administrative control panels in some cases adopt a causal map arrangement, which
illustrates the operational implications for different methods. But that could be, these come, in
large part, from contextual studies and advisory meetings (J.A. Pearce and R.B. Robinson, 2000).
Administrative control can be at various stages of formalization, suddenness, money-related
pressures, shifts in each society as indicated by the framework adopted, which will depend on the
individual characteristics of the administrators of them, of the characteristics of society and of
the characteristics of their social position and hierarchy. The MCS was characterized in a variety
of ways, with the idea of being the mechanism by which administrators commit to the successful
and efficient acquisition and use of the assets and 'achieving the goals of the society.
With a coordinated accounting framework, all accounting capabilities are integrated into a single
autonomous application. This means that there is no valid reason to re-encode the information
from one framework, then to the next, for example, by transcribing the information from request
to the onboard framework to an independent accounting framework. This eliminates the
possibility of human error. Similarly, there is no compelling reason to accept the various records
and capabilities, as they will update accordingly and gradually (J.A. Pearce and R.B. Robinson,
2000).
As a result, the company receives accurate cash data much faster. This helps managers to decide
immediately on tough business choices and course changes, based on convenient and
comprehensive information.
M3. Critically evaluate the role of management accountants and accounting
control systems to support a culture of ethical financial management
The management control systems (MCS), as shown in the English writing, receive and use the
data to assist in the coordination of the hierarchy and organization control options, with the aim
of optimizing global options within the company develop. MCS believes that the controls are
represented by the use of the board of directors in business, which covers the execution estimate
and the reward structures reaching pre-established standards (J.A. Pearce and R.B. Robinson,
2000).

The level of administration can be in the different phases of the formalization, immediately, an
accent relating to the currency, which varies in each company as indicated by the framework
received, which will depend on the individual characteristics of their directors, the virtues of the
company and the virtues of the company and authoritarianism position. The MCS has been
characterized in various ways, with the idea of being the mechanism through which management
undertakes to protect the funds and to use them with competence and productivity to achieve the
company's objectives (J.A. Pearce and R.B. Robinson, 2000).
Any type of accounting framework can bring incredible benefits to an independent company.
These benefits are enhanced by an accounting framework, which in turn receives and
disseminates a constant flow of information through money-related activities. An inclusion
framework eliminates the need to retrieve information, while ensuring that your records are
constantly updated.
Definition:
With an accounting system in place, accounting skills are coordinated in a solitary application
that transforms itself. This means that there is no valid reason to restore information starting
from one frame and then to the next, for example, by transposing the information from the
request of the card frame to an independent accounting framework. This eliminates the potential
human error. Furthermore, there are no compelling reasons to embrace the various records and
abilities, as they will update naturally and continuously (J.A. Pearce and R.B. Robinson, 2000).
With that said, the company gets accurate budget data much faster. This helps managers
immediately choose good business options and course treatments, based on comprehensive and
convenient information.
Most frames offer free time to test so you can try the product before you get it. At least one
employee can take little time to go to bed. So it's a wise idea to have the staff messenger with
one or two options before choosing a useful, easy-to-use and - obviously - expensive framework.
With uncoordinated or independent accounting, someone should physically extract the data from
the organization's request framework and provide it with information in the accounting
framework. This welcomes human error and means that the accounting information is regularly

updated. Supervisors will not be able to decide on the best options when the data they receive is
old and likely to be deficient (J.A. Pearce and R.B. Robinson, 2000).
To focus on operator control, we should identify the target location of the idea and the system
plan:
Goal setting: Goals should not be measured and should not be related to money. Delegates need
to make them understand what the association is trying to achieve.
Procedural definition: identifies how companies should use their funds to achieve their goals. It
could be officially confirmed or left largely unclear. Affiliation is important between managers
and employees. The procedure can be planned or in progress (J.A. Pearce and R.B. Robinson,
2000).
Control panels have two basic capabilities:
Life study: the way to see if the various systems acquired by the society help to coordinate the
outdoor conditions. It allows managers to evaluate an organization's program from a fundamental
long-term perspective (major outside interest).
Control of the board of directors: apply procedures for organizing, organizing, coordinating and
controlling system functions (internal interest).
Protective control would require complete proof that all corporate control panels are atheist proof
and that everyone from whom the association is trusted must act consistently in the best way
possible. The misfortune of control is the cost of not having a separate control framework. It can
be said that the appropriate control was performed if the control malfunctions were to lower the
control costs of multiple controls. Evaluating whether a major control has been achieved needs to
be organized in the future (no unpleasant surprise in the future) and goals must be managed
(because the goals speak to it) what the society needs). But at the same time it is strange and
abstract to decide control (J.A. Pearce and R.B. Robinson, 2000).

LO4. Evaluate ways in which financial decision-making supports
sustainable performance
P5. Evaluate the ways in which financial decision-making is important for
supporting long term financial sustainability
It appears that a very large organization around the world is regularly burning huge amounts of
dollars on new tasks. The way these activities are planned, developed and managed clearly has
an impact on costs at the moment, but it is also having a significant impact on the supportive
attitude of the organization long-term (T. Jick and M. Peiperl).
An important test is that most corporate sustainability experts within a company initially do not
engage in investment requests. Beginners who make money in an organization are content with
profit options with direct costs and expected revenue. They go far beyond the consideration of
the ecological risks and benefits that an action can entail. Organizing cash and sustainability
options may encourage economic activity to be picked up today, but it may not live up to
regulatory pressures for life. For example, an organization can put structures in an economic
structure to be built, but then realize that it is in an area that retains them when purchasing
vitality stores based on the oil product (D. Abell, 1980).
A key barrier to not joining the balance sheet and sustainability dynamics is the reduction of the
company's important natural sustainability. Be that as it may, as WRI found out in its new
working document, Profit Alignment and Environmental Sustainability: stories from the
industry, there are organizations that are beginning to provide us with ways to pass this test (D.
Abell, 1980).
Unilever experience
Some organizations, such as Unilever, are trying to ensure that large-scale indoor sourcing
activities consider sustainability impacts from the outset. For example, Unilever, a leading global
food organization, has begun the transition between the organization’s financial regulator and the
Chief Sustainability Officer (CSO). Capital expenditure now exceeding $ 5 million should be
managed by both the administrator and the CSO. The CSO tests the claims against many natural
standards and has the ability to reject requests for expenditure that do not meet the models or

provide satisfactory clarification on why the organization’s sustainability factors were not
considered. . Similarly, the CSO may request additional protection before making a decision
(Reitsma, 2001).
Allow CSOs to cut costs that have not covered regulatory issues and ensure that the
organization's sustainability professionals are busy developing tasks from the outset. This
training also changes the organization’s approach to the goals of sustainability. It will be
interesting to see how this training affects Unilever's ability to produce offices that comply with
these guidelines, but which are resistant to long-term performance and supportive pressures, such
as shortages extensive resources (Reitsma, 2001).
A similar approach is taking place at Alcoa, one of the main aluminum producers, where CSO is
part of a group of officials interested in the dynamic capital search procedure. This approach
ensures that manageable factors are considered at every stage of promoting the business
(Reitsma, 2001).
By examining the prospects of sustainability in the early stages, social and ecological benefits
can be much more intrusive than clinging to the latter stages when only marginal changes are
possible. Using this type of methodology, organizations like Unilever can benefit from past
options, including understanding the negative economic consequences of not having to do it by
combining sustainability components such as the value of unexpected vitality and future water
scarcity (Reitsma, 2001).
Here and there, networking seems to cost enormously, and nobody has to pay attention to
everything. There is so much change that we have to see, but our accounts are so complicated
that we are only trying to keep what we have done so far. Workers are arriving short, exhausted
and exhausted; essential projects are discounted or reduced due to lack of funds; and closing
company entrances is a constant fear behind everyone's brain. This continues for a long time for
some philanthropic collections; for others, the entrances really close the hammer (Maljers, 1990).
Although it may seem like something else, a budget management deal isn't just about raising
money. Right now, you may have a preparation to raise a few dollars. In fact, it is likely to be an
important part. You can raise funds through gifts, prizes, courier fees or all of the above, to
exemplify the models (Maljers, 1990).

In any case, it's not the whole story. A budget management plan also includes various types of
funds that you may receive, such as non-sexual assistance, freelancers or assets shared by
different companies. You may even remember that you have another association to engage in a
commitment you have started.
M4. Critically evaluate how different ways of financial decision-making
support long-term financial sustainability
Various cash-related problems and concerns can damage Unilever's financial stability. These
issues include, but are not limited to, use of weight, new developments, inflammation, ensuring
sustainable income and sources of funding, and attempts at metropolitan responsibilities. to keep
moderate. The long-term financial stability framework (LTFSF) was designed to expose future
monetary problems through established rules, procedures and procedures. System
implementation controls the society in making important decisions to prepare for cash
management, maintains a level of flexibility, to help visualize the vital situation was realized
(C.S. Clark and S.E. Krentz, 2004).
The structure will be used as a CHANGE in all the dynamics of the association's finances. This
includes expert advice, capital organization, and model design, just like other money-related
issues. The system:
 Making a difference to the standards of money management and the reflections and
effects on which you should think about money dynamics,
 Project of contingency funds related to area organization and related budget procedures to
follow (C.S. Clark and S.E. Krentz, 2004).
The structure differentiates FUTURE STRATEGIC AREAS based on current information,
where further work could be justified to modernize existing budgetary procedures and create new
monetary systems.
The structure establishes the TERM LOCAL FINANCIAL STABILITY PROJECT which will
be renewed on a four-year structural basis to integrate the critical supply. The procedure will:
 Make long-term estimates and budgetary scenarios to explain future money-related
problems and encourage long-term ideas for managers.

 Use the cash-related assumptions and scenarios described to help illustrate the
requirements for budgetary procedures, govern what current technical zones may be
fulfilled and identify the requirement for implementing new approaches (C.S. Clark and
S.E. Krentz, 2004).

CONCLUSION
A financial feasibility study will contribute to an examination of the financial implications to
provide sufficient evidence of the dynamic approach. The FIA has a cash-related feasibility test
compared to the FIA (see next field) as it considers how the new function, activity or option will
be supported and associated costs, the availability of the resources necessary to achieve it, just as
further authoritative considerations. This type of budgetary review is needed not only for large
activities, for example entire development departments, but also for small capital enterprises or
various activities and options. Like the FIA, the study of monetary possibilities is seen as a cash-
related approach despite the fact that the way it ended and the type of data remembered for the
study may have implications on the options affecting long-term activity.

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