FINANCING TECHNIQUES

Barts & The London NHS Trust

Barts & The London NHS Trust

Introduction

The paper aims to provide information regarding the financial principles and techniques in order to consult 'Barts and The London NHS Trust' for constructing there financial forecasting for the year 2013-2014 along with proposing the concerned party with information on financing there new projects. The purpose of consulting the Barts and The London NHS Trust with appropriate methods of financial forecasting for their business processes and proposing optimal measures for obtaining funds to launch a new project is to devise a strategic fit and obtain information for decision making (Cox & Fardon, 1997, pp.122).

Discussion

The unit will recognize the capable methods for the application process of identifying the financial process, which will be relevant for strategic management in context to Barts & The London NHS Trust. The measures will include consultancy on forecasting methods, sources of capital appraisals, financial analysis and appraisals, and budgeting.

Organizations of today's world operate in a highly competitive environment, which is conducive to ongoing changes at every step. In such demanding conditions, effective decision-making is very necessary for organizations to achieve survival and generate profitable outcomes in such circumstances. The solution to obtaining a decision-making stance in such conditions, organization extracts information from important resources that stand viable for them.

The significant resources for the process of decision-making are financial information, which helps the management to lead the organization to achieve success. However, the viability of such resource can only be important if the managers are able to analyze, interpret, and evaluate the financial information to a maximum effective use. Moreover, such foundation related to principles and techniques of financial information are relevant for the strategic management process (White, 2003, pp. 18).

The project focus is on concentrating on the methods of financial forecasting and financial appraisals. The main objective of performing such activity is to provide Barts & The London NHS Trust with strategies that will optimize the organization with stable outcomes as well as launching new projects.

Financial Forecasting Methods & Techniques to Obtain Information for Decision Making

The consulting in regards to identifying appropriate methods and techniques of financial forecasting involves various methods. The methods and techniques will be suggested for analyzing the past and the current financial statements of the Barts & The London NHS Trust, in order for them to forecast financial statements for the year 2013-2014 and to devise information for the process of decision making in the business unit developments. The forecasting methods and techniques will involve Cash flow forecasting, Cost forecasting, Price forecasting, Linear Regressions, Scatter Graphs, Time Series Methods, Indices Variability, and Constraints to Index number.

The above-mentioned forecasting methods and techniques are viable sources to forecasting only if the results of such technique and methods are accurate to a major extent as the nature of such realization is complex and there is no room for errors. However, due to the random variation in the figures and processes, the accuracy of such processes will minimize to a little ...