Managing Financial Principles and Techniques Assignment

Managing Financial Principles and Techniques Assignment Essay example
Masters
Essay
Finance & Accounting
Pages 9 (2259 words)
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Managing Financial Principles and Techniques Assignment Your name………………………… College………………………………. Date of submission …………………. Table of Contents Table of Contents 2 Introduction 3 Importance of Costs in Pricing Strategy 3 An appropriate costing system 4 Improvements to the costing and pricing systems 5 Forecasting Techniques for cost and revenue decisions 6 Funds available to a firm for a project 6 Budgetary Targets 8 Creating master budget 8 Actual expenditure and income to the master budget 9 Budgetary Monitoring Process 10 Processes to reduce costs in a firm 10 Activity-Based Costing 11 Financial Appraisal 11 Strategic Investment Deci…

Introduction

Those companies that take strategic and effective decisions regarding financial and costing issues in relation to pricing and budgeting are found to be highly successful as compared to others that don’t. This paper briefly explains the importance of costs in pricing, forecasting techniques in relation to costs and revenues, most appropriate budgetary targets for a firm, methods to reduce costs, financial appraisal and financial statement to assess financial viability in the firm. Importance of Costs in Pricing Strategy Pricing is an extremely important strategic issue since it is closely related to product positioning and customers’ perception about value and utility. From marketing point of view, a customer is willing to pay a specific amount for a product or service only if that price is worth enough for the value or utility they expect from it (Ferrell and Hartline, 2010, p. 246). ...
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