AssignmentScenarioYou are a longstanding manager in a family firm which is a small butgrowing organisation. Your particular responsibility is finance. Anew member of the family has just joined the firm fresh fromcompleting a post graduate (level 7) qualification at college. He isclear that in order to ensure the businesss continued success he mustdevelop the financial skills required to assess and manage financewithin the business. He wishes to begin by understanding the role offinancial information in business strategy and given your experiencehe has asked for your advice.Heintends to create a file on finance for strategic managers which hecan use as an aide memoire.Activity 1Prepare the first section of the file providing examples where appropriate.This must have the following sub sectionsan assessment of why financial information is needed in businessan identification of the business risks related to financial decisionsa summary of the financial information needed to make strategicbusiness decisions.Assessment Criteria 1.1/1.2/1.3Activity 2The second section of the file must provide information on publishedfinancial statements. You must include at least one actual example ofpublished accounts in order to illustrate the points you are making.This section must includean explanation of the purpose structure and content of published accounts.your interpretation of the financial information in these accountsa calculation of the financial ratios from the accounts and anexplanation of how they support strategic decision makingAssessment Criteria 2/1.2/2.2/3Activity 3The new manager has made it clear that he needs to understand howbusinesses assess and finance various activities. The next section ofthe file must therefore coveran explanation which clearly distinguishes between long and short-termfinancial requirements for businessesa table comparing the sources of long and short term finance for businessesan examination of cash flow management techniques and an assessment ofwhy the management of cash flow is so important.Assessment Criteria 3/1 3/2 3/3Task 4As the business is growing the new manager wishes to have a sectionof the file which considers a number of issues related to expansionIn this section of the file you must 1. consider different business ownership structures and analysethe corporate governance legal and regulatory requirements of these.For each of these structures compare and contrast the roles andaccountability of owners and managers in making decisions. 2. carry out an evaluation of methods for appraising strategiccapital or investment projects.Assessment Criteria 3/4 4/1 4/2