Examiner’s Report
Unit Title Effective Financial Management
Unit Code 5UEFM
RQF Level Level 5
Session November 2021
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Comments on Global Cohort Performance
Question 1
1. Comments on question/item performance
On balance, responses to this question were moderate to good. Of particular note were the ways in which
stronger learners were able to discuss the key ethical issues that need to be considered in financial
management. Stronger pieces of work reflected an ability to contextualise and relate to organisational
circumstances.
Better submissions also reflected an ability to understand and explain the agency problems and, crucially,
how it might apply to their chosen organisation. As with the first part of the requirement, stronger pieces of
work were able to contextualise and apply to organisational life.
Some candidates were able to apply consistently sound knowledge and application in their responses to this
question. Across the cohort, generally, there was evidence of the achievement of this learning outcome.
Some candidates either failed to engage with the requirement or tended to lack the kind of depth and detail
that might be expected in an examination of different types of decision-making and/or the context provided
by a large manufacturing organisation.
2. Quick tips
Engage with the core concepts in any requirement. In this case, ethical consideration were at the heart of
the requirement.
Question 2
1. Comments on question/item performance
Most students, as in previous cohorts, continue to demonstrate a sound ability to achieve this learning
outcome. On balance and overall, there was some moderate to good knowledge of the key considerations
and issues when preparing projected financial statements within your chosen organisation. This was
underpinned, in the main, by some useful engagement with and reflection on both the context of chosen
organisations. As with other requirements, stronger pieces of work reflected an ability to relate knowledge
to context.
Stronger students were able to analyse considerations and issues in a way that helped to generate depth
and insight. Better responses reflected on understanding of context, the issues that might arise when
preparing projected financial statements. Crucially, better responses engaged with the concept of forecast
and projection in this context.
Weaker responses tended to be overly descriptive, to lack an engagement with the context and/or modern
business environment, or a combination of the two. Generally, such pieces of work demonstrated some
knowledge and comprehension, but lacked the development of clear links between technology and
decision-making.
2. Quick tips
A suitable focus on the requirements would underpin better responses. In this case, stronger pieces of work
would reflect an analysis of key considerations and issues in this context.
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Question 3
1. Comments on question/item performance
Overall, performance for this question was reasonably sound: on balance, performance was moderate.
Some candidates demonstrated an ability to develop an evaluation. Stronger pieces of work were able to
support and underpin this in the context of financial risks and reduction of exposure to such risk. Moreover,
stronger students were able to engage with the context of a significant project for a large manufacturing
organization.
In contrast, weaker pieces of work reflected a lack of critical awareness. Some candidates did not address
the concept of financial risk and reduced exposure to such risks. It was notable that some students either
presented generic responses that failed to reflect risk factors and/or a project brief that did not relate to the
context of financial risk and the management thereof.
2. Quick tips
Evaluation needs to reflect both strengths and weaknesses. Ensure that suitable relation to organisational
circumstances is developed, where appropriate.
Question 4
1. Comments on question/item performance
Overall and on balance, responses to this requirement were moderate to good. Some candidates
demonstrated a sound and clear ability to both analyse approaches that might be adopted to improve the
availability of internal sources of finance. The inclusion of a focus on suitable approaches in this context
reflected an engagement with key ideas and concepts in this context.
A lack of analysis was evident in some responses: work produced by such candidates tended towards the
descriptive and generic. There was also some evidence of ‘rote learning’ from the study materials, rather
than application to the requirement. For this question, there was a need to analyse a broader range of
approaches and to consider the key knowledge relating to internal sources of finance.
Still, many learners had some useful comprehension of the relevant subject knowledge. Stronger pieces of
work were able to develop a coherent and clear analysis, with some sound coverage of the key techniques
and, importantly, the key considerations for improving the availability of internal sources of finance.
2. Quick tips
Focus on the substantive elements of a requirement. Ensure that, when required, suitable contextualisation
is developed via a reflection on a suitable organisation.
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Question 5
1. Comments on question/item performance
Stronger responses to this requirement reflected an ability to develop and present an analysis. Overall,
submissions to this requirement were moderate. Some candidates demonstrated a clear ability to analyse
approaches non-financial factors and, crucially, to relate their analysis to investment decision-making. The
inclusion of a focus on suitable approaches in this context reflected an engagement with key ideas and
concepts in relation to organisational decision making.
Shallow and under-developed of analysis was apparent in weaker pieces of work. For some candidates,
there was also some evidence of ‘rote learning’ from the study materials, rather than application to the
requirement. For this question, there was a need to analyse: weaker responses either failed to do this or did
so in a way that did not relate to non-financial factors and their influence.
2. Quick tips
Try to develop a suitable relation between multiple elements of a requirement. In this case, there was a
need to relate non-financial factors to investment decision making.
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