logo

Managing Financial Resources- Assignment

   

Added on  2020-12-10

12 Pages2504 Words101 Views
Finance
 | 
 | 
 | 
MANAGINGFINANCIALRESOURCES
Managing Financial Resources- Assignment_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................31.1 Explaining difference between financial account and management account........................31.2 Identifying and explaining purpose of different financial statements in a profit and non-profit entities...............................................................................................................................51.3 Identifying the different groups of stakeholders and evaluating their different informationrequirement.................................................................................................................................6TASK 2............................................................................................................................................82.1 Calculate below mentioned ratio...........................................................................................82.2 Report on performance of Stratford Yachts Limited on basis of liquidity and profitability.9CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
Managing Financial Resources- Assignment_2

INTRODUCTIONThe organization has very important aspect of managing financial resources. The presentreport is giving brief discussion about basic concepts of both financial and managementaccounting as well along with its key variations. Further it is reflecting requirement of financialand managerial requirements. In the same series it has elaborated various objective of statementsin business which are profitable or non profitable. In the last part of report it had interpretedfinancial position of Stratford Yachts Limited in terms of profitability and liquidity analysisalong with specific ratio analysis.TASK 11.1 Explaining difference between financial account and management account.The key difference between financial and management accounting are:Basis of differenceFinancial AccountingManagement AccountingMeaningFinancial Accounting gives thetrue and fair view of thefinancial position of thecompany. Financial accountsare prepared so that thestakeholders and investors cananalyse the financialperformance of the companywith the past performance.Financial accounts help thestakeholder to analyse thefinancial statement of thecompany and to decide whetherto invest in the company or not(Financial Accounting vsManagement Accounting,Management accounting isprepared for the managers tohave the better understandingof the management of theorganization. It provides theinformation within theorganisation.Theinformation from themanagement accounts helpsthe managers to formulatesthe policies, planning,forecasting and controllingthe day to day operations ofthe company for the effectiveworking of businessorganisation.
Managing Financial Resources- Assignment_3

2018).ObjectivesFinancial accounting isprepared to show the accurateand true picture of financialposition of a company byanalysing daily financialstatements and transactions tothe outside parties.Management accounts areprepared to help themanagement of theorganisation to analyse theoperation and make thecorrect decisions andstrategies for the businessoperations and to maximisedthe profit.Time frameFinancial accounts are made atthe end financial year or onquarterly basis.Management accounts areprepared as per the need andrequirement of the company.Basis of makingThe past performance of thecompany is the base to makethe financial accounts.Management accounting canbe done by past informationor the predictive informationon the basis of decisionmaking.InformationFinancial accounts are mostlyquantitative, and it ismandatory by law to preparefinancial accounts of allcompanies.Management accounting canbe made on both quantitativeand qualitative basis andthere is no statutoryrequirement to prepare themanagement accounting.1.2 Identifying and explaining purpose of different financial statements in a profit and non- profitentities.The purpose of the profit organization is to maximize its profit for their owner. To achieve the purpose various financial statements are prepared to for profit organizations.
Managing Financial Resources- Assignment_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Managing Financial Resources Assignment : Stratford Yacht Limited
|13
|2775
|133

Managing Financial Resources Assignment - Stratford Yachts Ltd
|10
|2522
|43

Difference Between Financial and Management Accounting
|13
|3857
|418

Financial Analysis of Stratford Yachts Ltd.: A Comparative Study of Profitability and Liquidity
|13
|2563
|153

Project Report on Financial and Management Accounts
|11
|2965
|30

Managing Financial Resources "Stratford Yachts Ltd"
|10
|2487
|36