Unit 407 Understanding Financial Management aims to develop understanding of finance within the context of an organisation. This project covers topics such as cash flow forecasting, financial performance indicators, and budget setting. The project requires approximately 18 hours of research and a word count of 1500-2500 words. The assessment criteria includes describing the organisation's sources of finance, analysing financial stakeholders, explaining cash flow forecasting and management, and providing a general assessment of business/organisational performance using appropriate financial measures.