This module introduces you to financial management, looking at the company-wide impact of financial decision-making within the context of a for-profit organisation. You will examine budget forecasting and detailed financial analysis for effective budget management. This module will demonstrate the building blocks of financial management that are essential knowledge for any corporate manager or business owner.
● Understand the goals and functions of financial management at the company-wide level.
● Produce an Operating Budget (Pro forma Income Statement) and a corresponding Cash flow Budget for the first year of a fictitious company.
● Demonstrate an understanding of all components of operational budgets by justifying each figure in the PFIS and contextualising key decisions with valid market research.
● Evaluate and define estimated but realistic income and costs based on the current market.