EXTERNAL ASSIGNMENT UNIT 7003 FINANCIAL MANAGEMENT To address the Learning Outcomes you are required to make statements

s as a senior/strategic manager or potential senior/strategic manager which demonstrate that you have fulfilled the Learning Outcomes given below. Your statements are to be prefixed with the specific Learning Outcome and should demonstrate your understanding of financial data and developing and making judgements on proposals against strategic objectives within your work area or in an organisation with which you are familiar. If you are not in an organisation or have no responsibilities for financial management you should describe the principles you would adopt and thus demonstrate a clear grasp of theory and concepts as well as your knowledge and understanding of the Learning Outcomes. The Assessment Criteria give you the context in which the Learning Outcomes are set. Your statements should be based on research, investigation and analysis which you personally have carried out. Word count: In total, it is suggested that your statements should not be less than 3000 and not more than 3500 words. You should make appropriate use of tables, graphs, diagrams, Gantt charts and flowcharts etc. You must make sure that you reference any sources you have used to complete this assignment; listing reference material and web sites used. Appendices must not be included. You are encouraged to produce a reflective statement of no more than 300 words (which does not count within the total number of words), describing the value and knowledge gained from undertaking this assignment. The reflective statement is not assessed; however it encourages you to review the value and application of your learning. LEARNING OUTCOMES 1. Be able to analyse financial data ASSESSMENT CRITERIA 1.1 Determine how to obtain financial data and assess its validity 1.2 Apply different types of analytical tools and techniques to a range of financial documents and formulate conclusions about performance levels and needs of stakeholders 1.3 Conduct comparative analysis of financial data 1.4 Review and question financial data 2. Be able to assess budgets based on financial data to support organisational objectives 2.1 Identify how a budget can be produced taking into account financial constraints and achievement of targets, legal requirements and accounting conventions 2.2 Analyse the budget outcomes against organisation objectives and identify alternatives 3. Be able to evaluate financial proposals for expenditure submitted by others 3.1 Identify criteria by which proposals are judged 3.2 Analyse the viability of a proposal for expenditure 3.3 Identify the strengths and weaknesses and give feedback on the financial proposal 3.4 Evaluate the impact of the proposal on the strategic objectives of the organisation
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EXTERNAL ASSIGNMENT SUPPORT GUIDANCE This Unit is about your understanding and use of financial data as well as how you develop and make judgements on proposals against strategic objectives. Learners who are not in an organisation or have no responsibilities for financial planning in a work area can meet the requirements by describing the principles they would adopt and thus demonstrate a clear grasp of theory, concepts and techniques as well as their knowledge and understanding of the Learning Outcomes. Based on the relevant National Occupational Standards (B2, B8, B10, E3 and F12), devised by the Management Standards Centre, the bullet points below show how these Standards relate to individual Learning Outcomes for Unit 7003. The bullet points will help you in planning and researching your assignment. It also shows the scope and content which the assessor will be looking for when marking your assignment. Learning Outcome 1: Be able to analyse financial data Describe how you obtain financial data and assess its validity Demonstrate different types of analytical tools (Ratios) and techniques (eg Variance Analysis) you apply to a range of financial documents to formulate conclusions about performance levels and the needs of stakeholders Conduct and present comparative analysis of financial data Describe how you review and question financial data with the use of specialist support if necessary

Learning Outcome 2: Be able to assess budgets based on financial data to support organisational objectives Describe how a budget can be produced taking into account financial constraints, achievement of targets, legal requirements and accounting conventions Produce an analysis of the budget outcomes against your organistions objectives Identify alternatives for your organisations objectives to meet budget outcomes

Learning Outcome 3: Be able to evaluate financial proposals for expenditure submitted by others Outline the criteria by which financial proposals are judged Analyse the viability of a financial proposal for expenditure Identify and describe the strengths and weaknesses and give feedback on a financial proposal Evaluate the impact of a financial proposal on the strategic objectives of your organisation

ADDITIONAL GUIDANCE a) REFLECTIVE STATEMENT You are encouraged to add a reflective statement or learning log, although this does not form part of the formal assessment process and is not included in the word count. Your reflective statement should describe the values and experience you have gained from undertaking the external assignment and how the knowledge gained may help your managerial techniques in the future. b) All learners are strongly recommended to make full use of the Institutes Study Resource Centre (www.managers.org.uk/study) to gain access to a wide range of support resources, including checklists to read, books to borrow, articles to download and videos to watch. Learners will initially need their membership number to login and will then be prompted to create a personalised username and password for future access. This service is free to members but they will incur a small charge for photocopies of articles and voluntary postal charges for books borrowed. c) Continuing Professional Development (CPD) - Learners should visit www.managers.org.uk/cpd to access self assessment, guidance and support.
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INSTRUCTIONS AND INFORMATION FOR LEARNERS 1. The external assignment is set and assessed by the Chartered Management Institute. It is designed to assess your achievement of all the Learning Outcomes and associated assessment criteria in the relevant unit of the qualification you are undertaking. 2. Your Centre will advise you when you should start work on the assignment, and the date when you must hand in your completed work. 3. You should make sure that you plan your work carefully, to ensure that you cover all the requirements of the assignment, and complete it within the time limit specified by your Centre. 4. Your statements in answer to the Learning Outcomes need to be prefixed with the specific Learning Outcome title or at least the Learning Outcome number. This will help you keep on track and should ensure you address the details. Work submitted without a Learning Outcome prefix will be returned unmarked. Your statements should not be just a description of work place activities but should include what you have learned from your programme of study. In other words you need to show how you can relate what you have learned to dayto-day management activities. You must make sure that you acknowledge any sources you have used to complete this assignment, listing reference material and web sites used. Appendices will not be accepted as any part of the assignment. 5. You must submit your work as an electronic document (.doc file). You should mark the assignment with your name, learner number, the unit number, your Centre name and a brief description of the context in which the assignment was undertaken. You may include a title page if you wish. You are strongly advised to keep a copy of your completed assignment before you submit it for assessment the copy you submit will not be returned to you. Your assignment may be kept by the Institute for quality assurance purposes. Any assignment not kept for quality assurance will be securely deleted. 6. The Chartered Management Institute will assess your assignment, and the result will be sent to your Centre, normally within 6 weeks of receipt by the Institute. 7. If your assignment is assessed as referred, notification will be sent to your Centre with an indication of the areas to be addressed. You may resubmit an assignment, or submit a new assignment, on a further two occasions during your period of registration as an Institute learner. 8. If there is anything in these instructions or in the assignment itself which you do not understand, please seek guidance from your Centre.

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