BUS706: You are a senior manager in a business unit of a medium-sized enterprise, with functional management and organizational leadership responsibilities: Finance for Managers Assignment, LIBT, Malaysia

Scenario

Learners may use their own employment context, or that of another organization with which they are very familiar, to base their assignment. However, in the case that they are not able to do so, please use the below scenario:

You are a senior manager in a business unit of a medium-sized enterprise, with functional management and organizational leadership responsibilities. You have responsibility for all aspects of the performance management of your team and its contribution towards the achievement of business goals.

Please select and research an organization of your choice to identify its approach to performance management.

Task 1

Select an organization you have worked for or know well to obtain the latest copy of their published financial accounts. These will normally contain three financial documents:
● A balance sheet
● A profit/loss statement
● A source and application of funds
Based on these accounts explicitly address each of the following:

• Determine what financial information is needed and assess its validity.
• Analyze different financial documents and information and formulate conclusions about financial performance levels and the needs of stakeholders.
• Conduct a comparative analysis of financial information and data.
• Critically review and question financial information and data.

Task 2

Chose an organization or a department within an organization you are familiar with and explicitly address each of the following:

• Identify how a budget can be produced taking into account financial constraints and achievement of targets and accounting conventions.
• Be able to assess a budget.
• Identify how a budget for a complex organization can support organizational objectives and targets whilst taking into account financial constraints and accounting conventions.

Answer

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