Managing Finance Analysis Argumentative Essay Example

Robert Brown may request extended credit terms from his suppliers or opt for more frequent orders with reduced stock.

Keeping track of income and expenditure is crucial for the survival of Robert Brown's financial company. He employs various strategies, such as offering discounts for prompt payments, negotiating profits or staged payments for large contracts, and third-party invoice financing. Effective financial management involves setting and monitoring budgets to understand the money flow. In-year budget monitoring reports provide valuable information about spending patterns, helping management to make informed year-end forecasts. Effective monitoring requires reliable budget setting.

Robert Brown, the enterprising manager of Tayto, plays a crucial role in forecasting future events that may affect his company. Failing to carry out this duty adequately could render the business ill-prepared for any unforeseen circumstances. To this end, the business owners assign budgets to Robert Brown on an annual basis, who would then allocate funds to the management staff. This will enable them to enhance productivity and efficiency in their respective departments.

This funding would cover expenses such as advertising to attract customers, purchasing new equipment for improved production efficiency, and providing raises for deserving team members to boost morale and reward loyalty. The goal of enterprising managers is to generate a profit through any necessary means, which benefits the owners or managers. Robert Brown's objective is to become the number one manufacturer of snacks and crisps in the country while producing high-quality products that meet consumer expectations. Tayto's accountants and directors are responsible for financial decisions and recording profit analysis for future reference and improvement in areas of need. Stakeholders who have invested heavily in the company would benefit from this

data recording.

Tayto has a responsibility to assess their performance and determine the effectiveness of their current approach. To achieve this, the company's directors will hold discussions with Robert to monitor and steer his progress in a direction that is advantageous for Tayto. A break-even graph will be prepared to illustrate the point at which they can allocate funds towards different aspects of the company such as production methods, facilities, equipment, product development, and staff members.

(Advertisements, wages, and raw materials) among other factors will be analyzed through a break-even analysis to forecast when Robert Brown's company will turn a profit or suffer a loss. Utilizing this data, Brown can set profit goals and work towards them, while promoting his company as the prime choice for consumers.

Robert Brown, having insight into customer needs due to his work with employees, is able to provide valuable input and advice on the company's financial planning, which is ultimately decided upon by the accountants and directors.