1. As a manager within an organisation, critically evaluate the importance of financial management and clearly distinguish between the specialist financial functions and the contribution towards the strategy and the operations of the organisation. 2. Distinguish between cost accounting, management accounting and financial accounting. 3. The discussion should highlight how Management Information Systems (MIS) can improve the effectiveness of the finance function associated with the decision-making process. The critical discussion shall include the approach towards corporate governance within the organisation and how the information in financial statements is communicated to key stakeholders. 4. Throughout the discussion you should highlight why budgets are important. 5. Explain and critically evaluate how the budget setting process can be effective including through monitoring and forecasting. In your discussion analyse the relationship between budget planning and operational and strategic planning. 6. The budget variances and how these are managed should be included in the discussion.