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Meaning & Significance of Financial Assessment
Finance & Accounting
Pages 15 (3765 words)
Financial Management Table of contents SL.No. Particulars Page No. 1 Financial Assessment Meaning & Significance Elements Datas included in financial assessment 3-5 5-6 6-9 2 Assess the possible purchase of a new single-head soft-serve ice cream machine - List the qualitative issues that you need to consider - Calculate the return on investment and payback period for purchasing a single-head machine Table 1 showing payback period calculations Table 2 showing return on investment calculations 9-12 12-16 14 15 References 1) Write a brief (maximum 1,500 words) analysis of the information that you will need to include in the financial assessment, explaining its significance.
It helps gain access to fast, independent and reliable financial assessment reports in order to take better decisions. It enables to achieve financial success. Financial assessment is based on past records and future projections. The company can gain much better control over their financial performance by looking at the past in order to help plan and predict the future. A sound financial plan contains a complete picture of the financial health of the business and the viability of strategic plans. It also helps to know whether the company is being run in a proper way during implementation, so that it can take preventive action before anything serious happens, for example, running out of cash. “Successful financial analysis and planning require an understanding of a company’s external and internal environments” (Analysis of Financial Statements Reviewing and Assessing Statements, 2006). ...
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