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Intended learning outcomes:· Specify the impact on a business of the economic and financial environment in which it operates· Critically appraise the different options for sourcing capital and contrast the methods for selecting the most appropriate investments of a firm· Specify the role of the accountancy profession and discuss why the work of the profession is so important· Identify the objectives of businesses and the tasks that businesses perform in order to meet these objectives, and to use appropriate financial measurements to assess progress towards these objectivesb) Aims of the paper:· Select a freely chosen Small and Medium-sized Enterprise (SME) or corporation where a real life financial management situation can be observed.· Analyse the financial management problem using the following techniques practiced during seminars:a. risk-and-return,b. time value of money,c. economic value added (EVA), d. weighted-average cost of capital (WACC),e. capital asset pricing model (CAPM),f. net present value (NPV),g. internal rate of return (IRR),· Conduct a discounted cash flow analysis (DCF) outlining the following items:a. free cash flows (FCF),b. net operating profit after tax (NOPAT),c. capital expenditures (CAPEX),d. net working capital (NWC),e. return on net assets (RONA),f. terminal value,g. Beta calculation.· Conduct a relative valuation using book and market multiplesa. earnings before interest and taxes (EBIT),b. earnings before interest and taxes (EBITDA),c. enterprise value (EV),d. transaction multiples, ande. potential liquidation value.· Double check calculations with scenario and sensitivity analysis.