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Assignment Briefs 02-13-2023

LO1 Demonstrate a sound understanding of accounting and financial management in organisations in the context of reporting and decision making

Module code

Module title:

MGBAF0FNM

Introduction to Financial Management

 

Module leader:

 

Assignment  type:

Report 1,500 words

Weighting:

50%

Submission time and date:

Before:

 

Target feedback time

Three weeks from submission

 

 

 

 

 

Assignment Handbook - Report

 

Assignment

This assignment involves preparation of an individual written report on understanding of Accounting and Financial Management, structure, and key elements of financial statements.

 

This assignment has been designed to provide an opportunity to demonstrate the achievement of following learning outcomes:

LO 1

Demonstrate a sound understanding of accounting and financial management in organisations in the context of reporting and decision making

LO2

Explain the key elements of financial statements, including structures and key financial terms used.

 

Assignment Task

 

Overview

This assignment requires from students to research basic concepts of Accounting and Financial Management and key elements and structure of financial statements.

Brief description of task

A 1500-words written report. Word counts limit of 1500 is for guidance about the size of report.

 

Cover Page - should be the first page of your report, containing:

Student-ID number:

Module name:

Tutor name:

Academic year:

          Campus:

 

Title: Understanding Accounting Fundamentals, Financial Management, and Ratio Analysis

 

Background:

Star Ltd is a UK-based medium sized enterprise trading artificial intelligence (AI) based smart toys for the local and European market. You as the Assistant to the Chief Financial Officer (CFO) have been asked to write a report on the financial performance by using basic ratios analysis for the Chief Financial officer (CFO). The company’s financial statements are as follows:                                                          

 

Star Limited

Statement of Financial Position

as on 31 December 2022

 

Fixed Assets:                                                               

  £,000  

Owner’s equity                         

 £,000 

Building                               

100,000

Equity and Reserves

90,000

Equipment

70,000

Retained Profits

10,000

Furniture

20,000

Total Equity

100,000

Computers

10,000

 Long term debt              

70,000

Current Assets:

 

Current Liabilities:                         

 

Inventory

40,000

 Short term debt              

50,000

Cash

100,000

 Accounts payable      

100,000

Receivables

60,000

Salaries and Bills payable

80,000

Total assets                       

400,000

Total Equity and liabilities

400,000

 

 

 

                                                                       Star Ltd

                                                               Income Statement

                                                     For the year ended on 31 December 2022

              

                                                         £,000           £,000

                  Sales                    110,000

                 

                  Cost of sales          88,000

                 

                  Gross profit                                 22,000

 

                  Operating expenses   8,000

 

                  Operating profit (EBIT)               14,000

                  Interest Expenses        15,00

                  Profit before taxes                      12,500

                  Corporate Tax               4,000

                  Net profit for the period                 8,500    

 

 

Ratios for Sun Limited   ( competitor company )

 

Description

Ratio

Description

Ratio

Gross Profit Ratio                                         

15%

Current ratio                                             

1.1

Profit Margin Ratio

10%

Acid Test or Quick Ratio                                              

0.9

Net Profit Ratio                                            

  6%

Gearing Ratio

1.5 : 1

Assets Turnover Ratio

  0.8

 

 

 

The report is required to cover the following areas:

a) Briefly explain, key contents of financial statements, For example, Assets, Liabilities, Equity, Revenue and Expenses.

b) Calculate and interpret following financial ratios as you are involved in reporting and decision making

 

                       Gross Profit Ratio      =            x 100

                   Profit Margin Ratio =           x 100

                        Net Profit Ratio =   x 100

                       Assets Turnover Ratio =          

                       Current Ratio =  

                       Quick Ratio or Acid-Test Ratio =  

                       Where,   Quick Assts = Current Assets – Stock or Inventories

                     

                         Gearing Ratio =   

c)  Briefly discuss the limitations of financial ratio analysis as used by various stakeholders

d) Explain the nature of reporting and decision making in Accounting and Financial Management within an organisation.

The report must include the following paragraphs:

1) An introduction. (150 words)

  • Describe the aims or objectives of the report
  • Explain the structure of report contents

2) Explain the nature of reporting and decision making in Accounting and Financial Management within an organisation. (250 words)

  • Define fundamental concept of Accounting and Financial Management
  • Discuss how information produced Accounting and Financial Management functions is used in an organisational for reporting and decision making.

3) Explain the key elements of the financial statements with reference to the structure and key terms used such as Assets, Liabilities, Equity, Revenue and Expenses (300 words)

4)  Calculation and interpretation of financial ratios (400 words) 

  • Calculate and interpret profitability, and assets efficiency ratios
  • Calculate and interpret the Liquidity ratios
  • Calculate and interpret the gearing ratios

What does each ratio explain about Star Limited.?

Show your calculation for the ratios by using relevant formulas.

How interpretation of ratios is used in decision making (in relation to the competitor’s ratios)

5) Discuss the limitations of ratio analysis (250 words)

  • Minimum three limitations of ratios

6) Summary (150 words)

  • Summarise the findings from the ratio analysis
  • Provide recommendations or suggestions to the head of finance department

A suggested format would be to create one paragraph of approximately 240 words each, within the main body for each of the questions. The remaining 300 words should be used for the introduction and summary of the report.

Headings, formulae, bullet points and diagrams are allowed.

Reference: Use minimum of 10 academic references. Direct citations of not more than one sentence are not included in your word count – use your research wisely. You must show evidence of research by giving in-text citations after every 5 - 6 lines at level 0 and a reference list. DO NOT USE WIKIPEDIA”

Referencing and research requirements

Please reference your work according to the Harvard and Canterbury Christ Church university standards. You can access on Referencing Guide on Moodle.

How your work will be assessed

Your work will be assessed on the extent to which it demonstrates your achievement of the stated learning outcomes for this assignment (see above) and against other key criteria, as defined in the University’s institutional grading descriptors. If it is appropriate to the format of your assignment and your subject area, a proportion of your marks will also depend upon your use of academic referencing conventions.

This assignment will be marked according to the grading descriptors for Level 0

 

Submission Guidelines

This assignment should be submitted electronically via Moodle (module tutors will discuss this process with you during class time).

  • Please ensure that your work has been saved in an appropriate file format (Microsoft Word, Excel or PowerPoint, or PDF are the most widely used; Google Docs is also accepted). Your file must also contain at least 20 words of text, consist of fewer than 400 pages and be less than 40MB in size.
  • You can submit your work as many times as you like before the submission date. If you do submit your work more than once, your earlier submission will be replaced by the most recent version.
  • Once you have submitted your work, you will receive a digital receipt as proof of submission, which will be sent to your forwarded e-mail address (provided you have set this up). Please keep this receipt for future reference, along with the original electronic copy of your assignment
  • You are reminded of the University’s regulations on academic misconduct, which can be viewed on the University website: Academic Misconduct Policy.  In submitting your assignment, you are acknowledging that you have read and understood these regulations.

Provision at Level 3 (often forming part of a Foundation Year course) is designed to prepare students for higher education. At the end of Level 3, students will be expected to demonstrate the acquisition of foundation level skills, knowledge and understanding necessary to embark on a higher education programme of study at Level 4. In accordance with the national Qualifications and Credit Framework (QCF), this includes the ability to identify and use relevant understanding, methods and skills to complete tasks and address problems that, while well defined, have a measure of complexity. It includes taking responsibility for initiating and completing tasks and procedures as well as exercising autonomy and judgement within limited parameters. It also reflects awareness of different perspectives or approaches within an area of study or work.

A pass mark (40% or above) demonstrates achievement of all learning outcomes associated with the module assessment

 

Assessment category

Introductory knowledge and understanding of the basic underlying concepts and principles of the subject(s)

Cognitive and intellectual skills

 

Reading and referencing

Presentation, style and structure

Work that significantly exceeds the specified word limit may be penalized

Pass Mark

 

90%-100%

Excellent work showing flawless understanding of the basic underlying concepts and principles of the subject(s), resulting in students being fully prepared for study at Level 4.

 

Insightful and accurate interpretation and evaluation of information and ideas, based on an excellent application of the most appropriate skills, methods and procedures. Work shows full awareness of the nature of the area of study and different perspectives or approaches within it

Insightful and effective use of a carefully selected range of relevant reading. Consistently accurate application of referencing.

Exemplary presentation of work that is fluent and flawless throughout.

80%-89%

High quality work showing fluent understanding of the basic underlying concepts and principles of the subject(s), resulting in students being fully prepared for study at Level 4.

 

Excellent interpretation and evaluation of information and ideas, employing highly appropriate skills, methods and procedures. Work shows strong awareness of the nature of the area of study and different perspectives or approaches within it

Consistent and balanced engagement with a refined selection of many types of relevant reading. Consistently accurate application of referencing.

Highly effective presentation of work that is coherently structured and clearly expressed throughout.

70% – 79%

Commendable work showing detailed understanding of the basic underlying concepts and principles of the subject(s), resulting in students being highly prepared for study at Level 4.

 

Effective interpretation and evaluation of information and ideas, showing effective use of appropriate skills, methods and procedures. Work shows well established awareness of the nature of the area of study and different perspectives or approaches within it.

Consistent engagement with a wide range of relevant reading. Consistently accurate application of referencing.

Well-formed presentation of work that is coherently structured and clearly expressed throughout.

 

60% – 69%

Work of solid quality showing competent and consistent understanding of the basic underlying concepts and principles of the subject(s), resulting in students being well prepared for study at Level 4.

 

Good interpretation and evaluation of information and ideas, using appropriate skills, methods and procedures. Work shows sound awareness of the nature of the area of study and different perspectives or approaches within it.  

Engagement with a wide range of relevant reading. Sound application of referencing, with no inaccuracies or inconsistencies.

Competent presentation of work in terms of structure and clarity of expression.

Level 3

Introductory knowledge

Cognitive and intellectual skills

 

Reading and referencing

Presentation, style and structure

Pass mark

50% – 59%

Adequate work showing understanding of the basic underlying concepts and principles of the subject(s), resulting in students being prepared for study at Level 4, but lacking depth and breadth.

Adequate interpretation and evaluation of information and ideas, largely using appropriate skills, methods and procedures. Work shows awareness of the nature of the area of study and an emerging awareness of different perspectives or approaches within it.

 

Engagement with an appropriate range of reading beyond essential texts. Referencing may show minor inaccuracies or inconsistencies.

Work is structured in a largely coherent manner and is for the most part clearly expressed.

40% – 49%

Simple factual approach showing understanding of the basic underlying concepts and principles of the subject(s), resulting in students being largely prepared for study at Level 4. Narrow or misguided selection of material, with elements missing or inaccurate.

 

A limited interpretation and evaluation of information and ideas, showing emerging awareness of the nature of the area of study and different perspectives or approaches within it, although not always logical or coherent and with inaccuracies.

Evidence of reading, largely confined to essential texts, but mainly reliant on taught elements. Referencing may show inaccuracies and/or inconsistencies. LO1 Demonstrate a sound understanding of accounting and financial management in organisations in the context of reporting and decision making

Ordered presentation in which relevant ideas / concepts are reasonably expressed.

Marginal fail

35% – 39%

Work shows limited but fragmentary understanding of the basic underlying concepts and principles of the subject(s), for example through inaccuracies, inclusion of irrelevant material and/or absence of appropriate information.

Weak and at times flawed interpretation and evaluation of information and ideas, resulting in largely descriptive work that shows lack of awareness of the nature of the area of study and different perspectives or approaches within it.

 

Poor engagement with essential texts and no evidence of wider reading. Heavily reliant on taught elements. Inconsistent and weak use of referencing.

Work is loosely, and at times incoherently, structured, with information and ideas often poorly expressed.

 

Fail

20% – 34%

Unsatisfactory work showing weak and flawed understanding of the basic underlying concepts and principles of the subject(s), for example through serious inaccuracies, inclusion of a significant amount of irrelevant material and/or absence of appropriate information.

Very weak interpretation and evaluation of information and ideas, resulting in descriptive work that is often illogical, invalid or irrelevant. Little awareness of the nature of the area of study and no appreciation of different perspectives or approaches within it.

Limited evidence of reading and/or reliance on inappropriate sources. Limited engagement with taught elements. Very poor use of referencing.

Work is poorly presented in a disjointed and incoherent manner. Information and ideas are very poorly expressed, with weak English and/or inappropriate style.

< 20%

Highly unsatisfactory work showing major gaps in understanding of the basic underlying concepts and principles of the subject(s). Inclusion of largely irrelevant material, absence of appropriate information and significant inaccuracies.

 

Work is largely irrelevant or inaccurate, characterised by descriptive text and unsubstantiated generalisations. Minimal or no use of evidence to back up views, showing complete lack of awareness of the nature of the area of study and different perspectives or approaches within it.

No evidence of reading or engagement with taught elements. Absent or incoherent referencing.

Work is extremely disorganised, with much of the content confusingly expressed. Very poor English and/or very inappropriate style.

 

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