ACCT7007 Business Finance Assignment Sample MTU Ireland
ACCT7007 Business Finance module is designed to give students a critical understanding of the financial decision-making process within businesses. The module covers a range of topics, from investment appraisal and capital budgeting to the financial management of working capital. Students will also learn about the role of financial markets and institutions, and the impact of taxation on business decisions. Throughout the module, students will be encouraged to apply their knowledge to real-world scenarios.
This module will deliver key skills and knowledge in the area of business finance, which is essential for any business career. The module will also develop students’ ability to critically analyze financial information and to make sound decisions based on this analysis.
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In this section, we are describing some assigned activities. These are:
Assignment Activity 1: Discuss how finance is an integral part of the business.
Finance is an integral part of the business. It helps businesses to make informed decisions about how to allocate their resources and manage their financial risks. Without a good understanding of finance, businesses would be unable to make sound investment decisions, plan for their future growth, or even day-to-day operations.
Finance is also responsible for making sure that a company’s financial resources are used efficiently and effectively. It does this by planning and controlling the financial activities of the business. Financial planning involves setting financial goals and creating a plan to achieve those goals. Financial control, on the other hand, involves monitoring and evaluating a company’s financial performance to ensure that it is in line with the goals set.
Businesses need finance to:
- Make investment decisions: Businesses need finance to make decisions about which projects to invest in and how to finance them.
- Manage financial risks: Businesses need finance to manage the risks associated with their activities, such as the risk of default on a loan or the risk of fluctuations in currency values.
- Make day-to-day decisions: Businesses need finance to make decisions about day-to-day operations, such as how much inventory to buy or how many staff to hire.
- Measure and track performance: Businesses need finance to measure and track their financial performance, using tools such as financial statements and ratios.
- Plan for future growth: Businesses need finance to plan for future growth, such as expanding into new markets or investing in new products or technologies.
- Understand the impact of taxation: Businesses need finance to understand the impact of taxation on their financial decisions, such as the decision to buy or lease a property.
Assignment Activity 2: Describe how financial statements are analyzed for making decisions.
Financial statements are analyzed for making decisions in several ways. The most common method is to use financial ratios, which are mathematical relationships between different financial statement items. Ratios can be used to compare a company’s performance to its past performance, to other companies in its industry, or to the overall market.
Another way to analyze financial statements is to use trend analysis. This approach looks at how a company’s financial performance has changed over time. This can be done by comparing financial statements from different periods, or by looking at the same financial statement over time and calculating the rate of change for various items.
Yet another way to analyze financial statements is to use common-size analysis. This approach expresses all items on a financial statement as a percentage of a common base amount. This makes it easier to compare companies of different sizes or to see how a company’s financial position has changed over time.
Finally, financial statements can also be analyzed using ratios such as the price-earnings ratio or the debt-to-equity ratio. These ratios provide a quick way to compare a company’s financial performance to that of its peers.
Assignment Activity 3: Discuss business cash flow and profitability.
Cash flow is the movement of money into and out of a business. It is important to track cash flow so that a business can plan for its future needs. There are two types of cash flow: operating cash flow and investing cash flow.
- Operating cash flow is the cash generated from a company’s normal operations. This includes things like revenue from sales, expenses, and interest payments.
- Investing cash flow is the cash generated from a company’s investing activities. This includes things like the purchase or sale of assets, such as land or buildings.
Profitability is a measure of how much money a business makes compared to how much it spends. There are many different ways to measure profitability, but the most common is to use the net income ratio. This ratio measures a company’s net income (profit) as a percentage of its total revenue.
Many other ratios measure a company’s profitability, such as the gross margin ratio and the operating margin ratio. These ratios measure a company’s profit before taxes and interest, and they provide a more complete picture of a company’s profitability.
A business’s cash flow and profitability are important indicators of its health. By tracking these metrics, businesses can stay on top of their financial performance and make informed decisions about their future.
Assignment Activity 4: Calculate the various costs associated with the business.
There are several costs associated with running a business. These costs can be divided into two main categories: fixed costs and variable costs.
- Fixed costs are those costs that do not change with the level of production. Examples of fixed costs include rent, insurance, and salaries.
- Variable costs are those costs that do increase with the level of production. Examples of variable costs include raw materials and packaging.
The total cost of running a business is the sum of all its fixed and variable costs. To calculate this total cost, businesses use a break-even analysis. This analysis estimates the point at which revenue will equal the total cost of production.
Once the break-even point is reached, businesses will begin to make a profit. The amount of profit depends on the level of production and the selling price of the product. To maximize profits, businesses must find ways to reduce their costs and increase their sales.
Businesses can use several strategies to reduce their costs. One common strategy is to negotiate better terms with suppliers. Another is to streamline production processes. And still, another is to reduce waste and unnecessary expenses.
When it comes to increasing sales, businesses can use several different strategies. One is to offer discounts or coupons. Another is to increase advertising and marketing efforts. And still, another is to expand into new markets.
There are several costs associated with running a business. By understanding these costs, businesses can make informed decisions about their pricing, production, and marketing strategies.
Assignment Activity 5: Identify the main sources of credit and how the business is financially structured.
There are several sources of credit available to businesses. The most common are banks, credit unions, and finance companies.
- Banks offer a variety of loans to businesses, including lines of credit, term loans, and SBA-backed loans.
- Credit unions offer many of the same types of loans as banks, but they tend to have lower interest rates.
- Finance companies offer a variety of loans, including lines of credit, term loans, and merchant cash advances.
The type of loan a business qualifies for depends on several factors, including the size of the business, its financial history, and its collateral.
The terms of a loan also vary depending on the type of loan. For example, lines of credit typically have higher interest rates than term loans.
To qualify for a loan, businesses must have a good credit history and strong financials. They must also be able to provide collateral, such as property or equipment.
Businesses can also use personal savings and investments to finance their operations. This is typically done through a business credit card or by taking out a personal loan.
There are several sources of credit available to businesses. The type of loan a business qualifies for depends on several factors, including the size of the business, its financial history, and its collateral. To qualify for a loan, businesses must have a good credit history and strong financials. They must also be able to provide collateral, such as property or equipment. Personal savings and investments can also be used to finance a business. This is typically done through a business credit card or by taking out a personal loan.
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