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Unit M/503/0114 Financial Management
Learning Outcome The learner will: Assessment Criteria The learner can:1. Be able to construct the financial statements of companies1.1 Prepare and interpret a profit and loss account (income statement) of a limited company from data provided1.2 Prepare and analyse a balance sheet (position statement) of a limited company from data provided1.3 Prepare and analyse a cash flow statement from data provided1.4 Prepare and interpret simple group accounts from data provided1.5 Explain the need for accounting standards2. Be able to compute, analyse and evaluate financial statements using a range of financial ratios2.1 Calculate profitability, liquidity, efficiency and investment ratios2.2 Provide a critical analysis of financial performance using some or all of the ratios as above3. Be able to demonstrate an understanding of the principal management accounting techniques3.1 Explain the following: fixed costs, variable costs, break even3.2 Make appropriate calculations and appropriate decisions based on management accounts from case study material3.3 Explain the role and methodology used in budgetary control3.4 Prepare cash budgets from data provided3.5 Explain the relevance of capital investment appraisal and make relevant decisions3.6 Calculate and analyse the following: payback period, accounting rate of return and net present valuePage 16 of 254. Be able to demonstrate an ability to recognise the sources of business finance and an awareness of capital markets4.1 Explain the possible sources of short term finance available to a business4.2 Explain the possible sources of long term finance available to business4.3 Understand the functions of a stock exchange4.4 Outline the process of issuing share capital5. Be able to understand the need for the expansion of businesses5.1 Explain the distinction between a merger and a takeover5.2 Explain the following: horizontal, vertical and conglomerate integration6. Be able to demonstrate an understanding of budgetary control and standard costing6.1 Explain the methodology and importance of standard costing as a management aid6.2 Calculate and analyse the following variances from sample data: material price, material usage, total material cost, labour rate,
labour efficiency and total labour cost
6.3 Explain the differences between basic, ideal and attainable standardsAssessment MethodsThere are no mandatory assessment methods for this unit.The following provides examples of assessment methods that could be used to generate evidence for this unit.
This list is not an exhaustive list and other methods can be used by the centre. Recognition of Prior Learning/Achievement Observation Professional Discussion Product Evidence Expert Witness Testimony Witness Testimony Simulation