Module Learning Outcomes covered in this assignment
i) Identify personal and professional developmental needs in the areas of accounting and finance.
ii) Demonstrate the knowledge and behavioural attributes relevant to employability and the lifetime learning skills.
iii) Assess graduate attributes and transferrable skills applicable to various professional roles within the industry.
ASSIGNMENT TASK: ANSWER ALL THE TASKS
Scenario 1: Skymark Trading
Skymark Trading, a UK registered company, operates in four foreign countries, with a total foreign subsidiary revenue of £60 million. The managing director (MD) is conducting a strategic review of the company’s operations, with a view to increase operations in some markets, and to reduce the scale of operations in others. MD has assembled economic and financial data on the four countries where subsidiaries are located, of which he considers to
be of particular interest. His major concern is shortage of qualified staff in accounting and finance in overseas operations.
Based on this information the managing director proposes that hiring accounting and finance staff should be concentrated in countries 1 and 4, and operations should be reduced in
countries 2 and 3.
A non-executive director believes that new staff hiring should not be restricted to countries 1 and 4. MD should also consider recruiting staff in countries 2 and 3 for the long-term survival and growth of Skymark Trading. He further suggests that the company should allocate some budget for recruiting at least one accountant in the finance division of each of the foreign subsidiaries to manage accounting and finance operation effectively. You are interested in
applying for an accountant role at one of the foreign subsidiaries of your choice.
a). Discuss five factors that you should consider when applying for an accountancy job in Skymark Trading.
b) You have applied for an accountant role and have been shortlisted for the interview. Describe the main points for preparing for an accountancy job interview and assess important behavioural attributes for an accountancy role that employers value.
You have successfully secured an accountant position in the finance division of Skymark Trading. You have been asked to organise a formal meeting to discuss a personal and professional development plan for accountancy staff.
a) Explain the key elements of agenda for staff meeting on personal and professional development plan. Justify the purpose of each element of agenda.
b) The outcome of a meeting will often require actions on groups of people. What are the different stages of team development that one might expect to encounter when a new team is formed or developed?
Scenario 2: Bart & Co
Bart & Co is an established company selling high quality products. Sales and profit growth have been strong over the past few years, and the directors have been investigating various plans for further growth. It has now been decided to expand into the new market. Non-current asset investment will be financed by retained earnings and long-term loan. The expansion is expected to increase sales by 30%. Bart & Co Statement of profit/loss and Statement of Financial Position are released recently: the Finance Manager has decided that all financial data should be presented in the form of charts, graphs, and other visual aids through spreadsheet.
a) You are required to explain main advantages of using a spreadsheet for analysing financial data. Give examples of financial data presentation of a FTSE 350 company of your choice. Download relevant financial data of a FTSE 350 company from: https://www.londonstockexchange.com/indices/ftse-350/constituents/table and save in Excel – you may show this as an Appendix).
b) Discuss is the main purpose of using visual aids to present data in the company annual report.
Prepare a report for the Finance Manager, discussing the importance and use of effective communication between staff and the finance manager. In particular, the report should cover:
a) Importance of effective communications in the finance department and discuss the types of communication channels.
b) Provide appropriate recommendations on how to improve formal communications between staff in the finance department.
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