Exercise 1 The following Trading and Profit and Loss Account of ABC Ltd for the year ended 31-12-2019 is given below: Exercise 2 The Balance Sheet of ABC Auto Limited as on 31-12-2002 was as follows: Exercise 3 Explain what finance is and how it affects individuals and corporations' life. Then explain the financial services and managerial finance areas of finance. Exercise 4 Discuss the two key activities of the financial manager as related to the firm's balance sheet and explain the major differences between accounting and finance with respect to emphasis on cash flows and decision making.

The given organizational structure starts with stockholders at the top who elects board of directors who in turn hires the top leadership in form of chief executive officer (CEO) or President who then hires his/her team with Vice-Presidents of different departments reporting to him/her. This structure then specifically focuses on the financial arm of the organization. It starts with the vice-president of finance or chief financial officer (CFO) who oversees the financial operations of the organization. Under the CFO,there are Treasurer and Controller at the same level. Treasurer looks at the management of finances and is responsible for fund management as well as budgets. Treasurer also has to liaison financial aspects, that is to formulate policies, rules as well as explain these financial aspects to different stakeholders. Treasurer reports to CFO.Controller acts as a lead accountant ensuring that there is no mismatch in flow of cash, ledgers accurately reflect the financial condition of the organization. Controller also looks at certain strategic aspects such as financial forecasting so as to provide a realistic picture to the organization. Controller also reports to the CFO. Next up is the tax manager, as the name suggests tax manager looks after the management of taxes for the organization ensuring that all the processes related to taxes are in line with the laws. The tax manager reports to the Controller. At the same level, there is a cost accounting manager whose role is to account for internal costs of various departments so as to ensure that there is no unnecessary spending. The cost accounting manager reports to the Controller. Next level consists of a corporate accounting manager and a financial accounting manager, both reporting to the Controller. The role of corporate accounting manager is to look at the accounts of key clients and manage their problems. The role of financial accounting manager is to manage the day-to-day financial activities, while Controller oversees the operations, it is the financial accounting manager who actually manages it. (How to become a Corporate Accounting manager - zippia) On the side of the Treasurer, at level immediately below the Treasurer, there is a capital expenditure manager who manages the capital expenditure budget for various projects and initiatives and reports to the Treasurer. On the same level, there is a credit manager, who manages the credit assessment aspects of the organization and reports to the Treasurer. On the same level, there is a foreign exchange manager who manages the trading aspect of the organization and reports to the Treasurer. On the next level under the Treasurer, there is a financial planning and fundraising manager whose job is to look after the planning aspect and raise funds for the organizational activities/he reports to the Treasurer. Then there is a cash manager who looks after the flow of cash in the organization and reports to the Treasurer. The pension fund manager looks after the pension pooled fund and is accountable for its growth and reports to the Treasurer. No, the given structure is not equally efficient in small and large corporations as in small corporations, the requirement is to take multiple roles as clients are less while in large organizations, since there are more clients and are diverse in nature, a broader structure is required. References: Guidant. (2022, June 17). 7 common small business problems and their solutions. Guidant. Retrieved October 27, 2022, from https://www.guidantfinancial.com/blog/top-business-problems/ How to become a Corporate Accounting manager - zippia. (n.d.). Retrieved October 27, 2022, from https://www.zippia.com/corporate-accounting-manager-jobs/

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exercise 1 the following trading and profit and loss account of abc lt

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Exercise 1 The following Trading and Profit and Loss Account of ABC Ltd for the year ended 31-12-2019 is given below: Exercise 2 The Balance Sheet of ABC Auto Limited as on 31-12-2002 was as follows: Exercise 3 Explain what finance is and how it affects individuals and corporations' life. Then explain the financial s