financial management Il Essay (80 items)1. In your own understanding, enumerate and explain the (3) three major decisionareas that the financial manager must confront.2. Suppose you were the financial manager of a not-for-profit business. What kindsof goals do you think would be appropriate?3. Does knowledge of financial ratio and statistical approaches give a manager allanswers in solving financial problems? Explain your answer.4. You are the key decision maker in a financial institution, among the discussedRisk Management Strategies which do you prefer the most? Explain/defend youranswer.5. In your own view and understanding, what are other ways that theleader/managers can do to strengthen their respective decisions orrecommendations aside from analyzing financial data? Identify as many as you canand elaborate your answer/s.

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Answered: II Essay (80 items) 1. In your own…

Understanding Management (MindTap Course List)

10th Edition

ISBN:9781305502215

Author:Richard L. Daft, Dorothy Marcic

Publisher:Richard L. Daft, Dorothy Marcic

ChapterP6: Part 6: Integrative Case

Section: Chapter Questions

Problem 3IC

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‘Business strategy produces long-term plans for the business, taking into consideration plans and possible actions of competitors, the main objective being to position the firm so it has a competitive advantage... If management accounting is to play this role in strategic management, it must provide managers not only with internal, financial information, but also with information, both financial and non-financial, about the environment in which the firm is operating: strategic management accounting’ (Lord, 2007, p.135). Discuss the previous statement, taking in to consideration the following perspectives: b)The appropriateness of the new performance evaluation techniques (such as balanced scorecard and strategic management accounting techniques) to the strategic management accounting objectives in comparison to the traditional performance measures. * please help me to answer this question in details, thanks
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