Financial Management - Decision-Making - Diminishing Balance Method - Business Assessment Answer

Assessment Task:

Financial Management - Decision-Making - Diminishing Balance Method - Business Assessment Answer

QUESTION 1: Functions of financial management and decision-making 
1.1 Identify three primary functions of a financial manager and explain the relationship between these roles.

1.2 Create your own example(s) to illustrate the difference between sensitivity analysis, standard deviation and coefficient of variance. Ensure that you explain how these indicators are interpreted.

QUESTION 2: The framework of financial reporting and financial statement analysis

2.1 A machine costing R120 000 has a useful life of five years (20% depreciation). Calculate the asset’s depreciation for all five years using both the straight-line method and diminishing balance method. Also, discuss the difference
between the two methods and provide an appropriate example to explain how one would choose the appropriate method to use.

2.2 Consider the following information:
Jenny is the owner of Exco (Pty) Ltd and has 90 employees, two stakeholders,total liabilities of R3-million and a total turnover of R900 000 for the financial year. Discuss whether Exco (Pty) Ltd should prepare financial statements in terms of IFRS or IFRS for SMEs?

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