Stages Implications for effective acquisition staffing HRM decision-making and – requirements, job design, business planning. selection and recruitment development induction – and training maintenance – agreements, contracts and performance management separation voluntary – and involuntary (retirement, resignation, retrenchment and dismissal) The role of social media in the employment cycle. Social, environmental, legal and ethical issues in HRM Business closure or Possible conflicts between Understanding individual and restructure personal and business goals, diversity, showing The rights of employees which at times may differ. tolerance to other points of Child labour. view and encouraging consensus and collaboration to assist in achieving mutually beneficial outcomes and better business decisions. UNIT 4: FINANCIAL MANAGEMENT (30 The focus of this unit is Financial Management (FM). This occurs through the analysis and interpretation of financial data and information and is necessary to achieve business goals. Business knowledge Business reasoning Business decision-making The nature of financial statements used for external reporting Balance Sheets Calculation of ratios: Interpretation of an Income purpose measures of profitability: Statement in of its main classified by elements Gross Profit Ratio, Net elements Interpretation of a balance (current assets, Profit Ratio and Rate of Sheet in terms of its main assets, current Return on Owner’s elements liabilities, non-current Equity. measure of financial Interpretation of financial liabilities, owner’s equity) ratios in terms of link to financial stability: Gearing (or Debt profitability, financial objectives to Equity) Ratio stability, liquidity and measure of liquidity: Income Statements efficiency purpose Current (or Working comparison of ratios to 3 classified by elements Capital) Ratio previous years and measure of efficiency: (net sales, cost of goods industry average sold, expenses) Debtors Collection Period Recommendations to link to financial (Refer to Appendix 2 for improve business formulae). objectives. performance. The nature of a Cash Budget as a planning tool Importance of cash flow to Interpretation of a Cash business viability Budget
Stages acquisition – staffing requirements, job design, selection and recruitment development – induction and training maintenance – agreements, contracts and performance management separation – voluntary and involuntary (retirement, resignation, retrenchment and dismissal) The role of social media in the employment cycle. Implications for effective HRM decision-making and business planning. Social, environmental, legal and ethical issues in HRM Business closure or restructure The rights of employees Child labour. Possible conflicts between personal and business goals, which at times may differ. Understanding individual and diversity, showing tolerance to other points of view and encouraging consensus and collaboration to assist in achieving mutually beneficial outcomes and better business decisions. UNIT 4: FINANCIAL MANAGEMENT (30 The focus of this unit is Financial Management (FM). This occurs through the analysis and interpretation of financial data and information and is necessary to achieve business goals. Business knowledge Business reasoning Business decision-making The nature of financial statements used for external reporting Balance Sheets purpose classified by elements (current assets, assets, current liabilities, non-current liabilities, owner’s equity) link to financial objectives Income Statements purpose classified by elements (net sales, cost of goods sold, expenses) link to financial objectives. Calculation of ratios: measures of profitability: Gross Profit Ratio, Net Profit Ratio and Rate of Return on Owner’s Equity. measure of financial stability: Gearing (or Debt to Equity) Ratio measure of liquidity: Current (or Working Capital) Ratio measure of efficiency: Debtors Collection Period (Refer to Appendix 2 for formulae). Interpretation of an Income Statement in of its main elements Interpretation of a balance Sheet in terms of its main elements Interpretation of financial ratios in terms of profitability, financial stability, liquidity and efficiency comparison of ratios to 3 previous years and industry average Recommendations to improve business performance. The nature of a Cash Budget as a planning tool Importance of cash flow to business viability Interpretation of a Cash Budget
BST315116_course_v1a.docx