[Solved] 1.1 Determine how to obtain financial data and assess its validity

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[Solved] 1.1 Determine how to obtain financial data and assess its validity

This paper revolves around Financial Management you are supposed to be able to analyse financial data, assess budgets based on financial data and understand how to evaluate financial proposals for expenditure submitted by others, in the light of these you are asked to answer the following questions:

• How to obtain financial data and assess its validity, apply various types of analytical tools and techniques, conduct comparative analysis and review and question financial data.
• Identify how to produce a budget underpinning financial constraints and achievement of targets, legal requirements and accounting conventions and analyse the budget outcomes against organisation objectives.
• Identify criteria of proposals judgment and the strengths and weaknesses and give feedback on the financial proposals and evaluate the viability of a proposal and the impact of proposal on the strategic objectives.

Title: Financial Management

1. Be able to analyse financial data

1.1 Determine how to obtain financial data and assess its validity

1.2 Apply different types of analytical tools and techniques to a range of financial documents, formulating conclusions about performance levels and needs of stakeholders

1.3 Conduct comparative analysis of financial data

1.4 Review and question financial data

2. Be able to assess budgets based on financial data to support organisational objectives 

2.1 Identify how a budget can be produced taking into account financial constraints and achievement of targets, legal requirements and accounting conventions

2.2 Analyse the budget outcomes against organisation objectives identifying alternatives

3. Understand how to evaluate financial proposals for expenditure submitted by others

3.1 Identify criteria by which proposals are judged

3.2 Analyse the viability of a proposal for expenditure

3.3 Identify the strengths and weaknesses and give feedback on the financial proposal

3.4 Evaluate the impact of the proposal on the strategic objectives of the organisation