Financial Exercises Summary

PART 1 

With your group, discuss the Wk 3 – Financial Exercises you completed. Consider the following:

What are your strongest and weakest areas from the Wk 3 -Financial Exercises?

Is there something that was not covered in this assignment that youre still unsure about or would like to learn more about?

As you look ahead to the Wk 4 – Summative Assessment: Financial Performance Calculations, how confident are you about the assignment? Are there any areas you think will be difficult for you?

Discuss these questions with your Collaborative Group and share any resources or information you have that might help others in the Group. Also, discuss what steps can be taken personally to grow in the areas of concern.

PART 2

Assignment Directions:

Write a 350- to 700-word summary of your discussion, paying special attention to which areas your Group most struggling with. Consider the following questions in your discussion:

How has using the Microsoft Excel worksheet helped with the calculations?

Which methods have Group members used to perform the calculations, such as pencil and paper, creating a formula in a Microsoft Excel worksheet, or using built-in formulas in Microsoft Excel?

What resources have Group members used to help with areas they are struggling with most?

What recommendations does the Group have for the next steps to be more comfortable with the content or the software, and to be prepared for the Wk 4 – Summative Assessment: Financial Performance Calculations assignment?

PART 3

Describe the 5 types of budgets listed for these Wk 3 Financial Exercises: In your descriptions, include the budget’s objective, how the budget assists an organization in managing its financial activities, and what types of data need to be included in that specific budget.    

Type of BudgetDescription   

Cash Flow Insert cash flow description.   

Operating Insert operating description.   

Sales Insert sales description.   

Static Insert static description.   

Group members responses:

Shenaiah Thomas

Hi team,

My strongest area of the Wk3 Financial Exercise was Set 2, Part 1. Being able to define or explain terms is a strong area of mine. My weakest area was working through the word problems throughout the entire exercise. I have never been good at word problems because I tend to get lost in deciding where to put what number and which number represents what function in an equation when I have to take those values from a word problem.

The exercise covered what is needed and left nothing else that I need to know more about.

As I look forward to the Summative Assessment in Wk4, I am grateful for Wk3. Even though it seemed like the never ending exercise, I now see that it was needed. I feel that I need more practice with gathering the data and applying it into the equations so I am not extremely confident in Wk4 but I know I will get there with practice.

For me, using the excel equations and plugging in the values helped me solve the problems a lot easier than doing them manually. The excel equations also explained each value which also helped me locate them within the word problem.

Ahmed Hamdan

Hello. Thank you for getting us started.

I actually enjoyed the problem solving. Yes it was difficult to be able to figure out the role of each number but looking for key words in the question helped me identify. It was a bit tricky learning if it was future or present but after reading the wording a few times I was able to get it. the exercise gave me the proficiency I needed but I feel like if i dont continue the practice it will be hard for me to remember the typing of the formats as opposed to using the function key.

To be honest I have not jumped ahead into wk4. I am wrapping up this weeks assignment so I can get a sneak peak before we start the week