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Managing Financial Resources Assignment - Stratford Yachts Ltd

   

Added on  2020-10-04

10 Pages2522 Words43 Views
Finance
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Managing FinancialResourcesTable of ContentsINTRODUCTION...........................................................................................................................1TASK1 ...........................................................................................................................................1(a) Difference between financial accounts and management accounts..................................1b). Identify and make analyse of vital objectives of using financial statements....................3
Managing Financial Resources Assignment - Stratford Yachts Ltd_1

c). Various group of stakeholders and evaluating their vital data..........................................4TASK 2............................................................................................................................................5a): Calculation of various ratios.............................................................................................5b). Compare overall performance and current position:.........................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................8
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INTRODUCTIONFinance is the most important aspect which helps the organisation to attain success. ItProvides the opportunity to the manager is to try innovations in business functions which helpsin development of the efficiency of employees (Ding, 2010). Lacks of funds affects theirworking capacity which also impacts their decision making. It helps the organisation to attainsustainability in their operations. Stratford Yachts Ltd. Provides their services in UK. In the present report explain about, difference between financial and managementaccounts, identification of the purpose of different financial statements which are used in profitand non profit organisation and identification of the different types of shareholders andevaluation of the information which is needed for decision making. Also, calculation of differenttypes of ratios and preparation of report about organisational performance in terms ofprofitability and liquidity.TASK1 (a) Difference between financial accounts and management accountsManagement accounting is the process which includes use of different accountingmethods which helps in effective management of different functions of organisation. On thebasis of such informations reports are prepared which is used by the internal parties oforganisation to improve their decision making. It provides the opportunity regardingdevelopment of the understanding between the different departments and employees. This willimproves the efficiency of manager to formulate different policies which provides directionregarding development of their existing skills. It is one of the broad concept which includes theprovision of both cost and management accounting. This concept is different from financialaccounting. It includes the preparation of financial accounts which is used by the external partiesto take better investment related decisions (Goldman, 2010). Stratford Yachts Ltd. Faces many issues regarding earning of large number of revenues.They feel need to adopt effective management accounting systems which helps in propermanagement of finance. It helps in effective management of turnover and overall performance. Itis required by Stratford Yachts Ltd. Because they faces many issues in their product lines.Difference between management and financial accountingBasisFinancial accountingManagement accounting1
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