Discuss the Director’s Role in Governance and Finance

1. Explain the approach to budgeting and management accounting within your Company. How has financial practice within the organisation developed over time? How would you change the budgeting and management accounting processes to better manage the organisation’s overall financial position? Explain the financial tools and techniques adopted within your proposals and their relationship to risk management, critically reflect on the use of them; 2. Prepare a new financial plan for your organisation taking notice of governance issues. The plan must be linked to the organisation’s overall strategy (or proposed revised strategy) and must include an income statement, balance sheet, and cash-flow. Critically reflect on your practice and analyse the risks to your plan. 3. Write about a financial failure or significant financial weakness that you have encountered in your career. Explain the incident and analyse reactions (yours and those of others). What did you learn from this incident about financial management and the financial arrangements in place in the organisation? How did you learn and how did you apply the learning and why it was important to you? Use financial tools and techniques to contextualise your account and inform your analysis. Critically reflect on your learning. You are advised to refer to appropriate reflective models in your essay.