The memorandum is among the more basic managerial communications tools used in most if not all administrative settings. A solid familiarity with drafting effective memoranda is vital for your career. (Alas, there are many examples of poorly composed memos……..but let us ignore these…….). As opposed to the proposal which advocates for a specific plan of action or recommendation, here you are explaining and interpreting some aspect or concept of financial management.
The assignments specifics are as follows:
Prepare a document not to exceed 3-4 pages in length addressed to your subordinates and colleagues on behalf of your employer’s senior echelon which seeks to explain a key financial concept to an audience lacking sophisticated grasp of such matters. You are free to select any issue so long as it addresses a substantive matter and your audience is composed of your peers and lower-ranking staff. Your readings for the course and topics considered for the proposal assignment will be helpful in selecting a memo topic but you must narrow your focus given the length of the paper….go for depth and precision. For example, discuss a change to the company retirement plan, explain the time value of money concept and how that impacts profitability, contrast fixed with variable costs, define various revenue streams and accounts receivable, discuss depreciation and its importance in fiscal planning, interest rates and their impact on bonds and other investments, etc.
You will be evaluated on the basis of BOTH how well you understand the substance and content of your memorandum but also on how effectively and clearly you draft the document. PLEASE BE EXPLANATORY…..WHAT WOULD THE READER WANT TO KNOW?
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