Objective: Analyze and apply the use of financial statement data to inform organizational goals, planning and short- and long-term decision-making.
Introduction: Change is inevitable in business. Change is a driver for and a result of a variety of business activities such as strategic planning, decisions about offering specific products/services, outsourcing and investments in various resources. Behind every business activity is some form of financial analysis. Thus, it is imperative, as a business professional, to have knowledge of key concepts in financial planning and decision-making. This essay will give you the opportunity to apply the use of financial statement data to inform organizational goals, planning, and short- and long-term decision making.
Deliverables: The essay for this lesson is required to be a minimum of 750 words that clearly demonstrate your understanding of the activity. Essays should have a clear introduction, thesis statement and conclusion, written in APA format (https://owl.english.purdue.edu/owl/). A minimum of three sources, at least two from the lesson (attached), must be cited in-text and in the Reference list.
Step 1: Read the following scenario and questions, then use what you have learned about this lesson’s objective to summarize your responses.
You work for a company that manufactures products and provides service for those products. Your director has asked that you mentor an intern for the summer. The first task is to help the intern understand what financial reporting models are used and why.
The company is considering outsourcing the service entity of the business. You have been asked to help with determining the short- and long-term plan. To make a sound business decision, what process will you go through that will result in a positive impact to the organization? Is the company financially capable of sustaining itself only as a manufacturing company? What kind of financial data is needed to make an informed decision to outsource or not? What is the relevance of the data?
The company is going to expand its manufacturing so a new line of products can be built. Outsourcing the service operations will enable the company to save money and use those funds toward the new manufacturing project. However, the company will need an additional $20 million. You are on the financial team to identify financing opportunities.
Step 2: Write a 750-word paper that addresses the questions/prompts below. Include a clear introduction, discussion and conclusion. It is highly recommended that you use these questions/prompts as level 1 subheadings in your essay.
Use these writing guidelines:
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