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MANAGING FINANCIAL RESOURCES AND DECISIONS TABLE OF CONTENTS INTRODUCTION

   

Added on  2020-01-15

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MANAGING FINANCIALRESOURCES AND DECISIONS
MANAGING FINANCIAL RESOURCES AND DECISIONS TABLE OF CONTENTS INTRODUCTION_1

TABLE OF CONTENTSINTRODUCTION...........................................................................................................................11 Products and Services provided by the company................................................................12 Costing methods used by the company...............................................................................13. Classification of costs.........................................................................................................34 Pricing strategy of Gregg.....................................................................................................35 Calculation of unit cost and break even analysis.................................................................46 Impact of fluctuation in prices.............................................................................................5CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................6
MANAGING FINANCIAL RESOURCES AND DECISIONS TABLE OF CONTENTS INTRODUCTION_2

INTRODUCTION A good financial management plays a very important role in success, survival andsustainability of an organisation. Financial decision-making directly affects business of acompany whether it is a small company or a big company. Financial management helps inmaking financial decisions by evaluating resources and provides information that can be used inplanning and assessing its impact on the organisation. In the given scenario, the financialresources of Greggs plc and the implication of those financial resources within the organisationhave been discussed. Costing methods, classification of costs and the factors influencing theprice setting are also taken into consideration. 1 Products and Services provided by the companyGregg Plc is famous for its bakery in United Kingdom. It provides variety of food inmenu like pasties and bakes, sandwiches, sweet, pasta, salads and soup, bread, platters and drinksand snacks etc. The services offered by this bakery are different from those of other bakeries, asseveral units are opened at different places so the customers is not required to not visit the mainbuilding of Greggs Bakery, for availing the bakery services (Blocher, Chen and Lin, 2008). Theproduct delivery and other services provided by the mentioned company are very muchappreciated by customers and they have created a brand value in the market. The food served tocustomers is always prepared at the time when they make order thus they do not offer alreadyprepared food. It is the USP of this bakery that it takes care of the customers and provides themwith the best quality food. 2 Costing methods used by the companyThere are various costing methods which can be used by the said company to managetheir financial resources. These are job costing, process costing, and batch costing, contractcosting, unit costing, operating costing, multiple costing, service costing etc. (Hansen, Mowenand Guan, 2007). A brief description about the given costing techniques is as follow: 1.Job Costing: To identify the cost of different jobs or work orders a method is used that isknown as job costing. In this method, costs are allocated to different jobs. The bakery canuse this method for different jobs like cost of purchasing a raw material to prepare food,cost of equipments used in cooking, cost allocated to customer services and counter1
MANAGING FINANCIAL RESOURCES AND DECISIONS TABLE OF CONTENTS INTRODUCTION_3

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