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Financial Management Principles

   

Added on  2020-10-22

17 Pages5881 Words451 Views
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Financial Management
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Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Covered in PPT......................................................................................................................1M1 Covered in PPT.....................................................................................................................1D1 Covered in PPT.....................................................................................................................1TASK 2............................................................................................................................................2P2 Analysis of key financial management principles.................................................................2M2 Key financial management principles are important while delivering strategies.................4D2 Evaluation of importance key financial management principles..........................................4P3 Role of management accountants and their value as part of an integrated system................4P4. Accounting control system and their values as a part integrated system..............................7M3 Evaluation of role of management accountant.....................................................................9D3 Justification.........................................................................................................................10P5 Importance of financial decision for financial sustainability..............................................10M4 Evaluation of financial decision making...........................................................................12CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................13
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INTRODUCTIONFinancial management is an activity which is performed by the accountants of a companyto maintain all the transactions related to finance. It helps to plan, control, and monitor financialresources that are available within the organisation. Proper management of funds can lead abusiness toward success, and if it is not maintained properly than it can move the organisationtoward losses and risks (Financial management, 2018). It is a system in which all the monetaryresources are handled effectively and efficiently. It helps a company to attain its goals such asprofit maximisation and customer's satisfaction. When a company is willing to build its equityand use it effectively than financial management is the right tool to achieve this target. Itestimates various elements such as capital required, financial control, possible requirement offunds etc. Main objective of financial management is to identify performance and financial statusof a company. Various companies are using it to run their operational activities effectively.Organisation selected for this project report is Tesco which is a retail company and itsheadquarter is in Welwyn Garden City, Hertfordshire, England, UK. Main objectives of thisreport is to identify the way in which Tesco has protected and saved its market share after themerger of Sainsbury's and Asda.This project report covers various topics such as application of financial management todeal business problems, different formal and informal approaches that are used in effectivedecision making, various key financial management principles that can help to achieve effectivefinancial strategies, role of management accountants, use of accounting control systems and theirvalue as part of an integrated business system and evaluation of ways in which financialmanagement is important for long term sustainability.TASK 1P1 Covered in PPTM1 Covered in PPTD1 Covered in PPT1
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