18 Jun DESCRIBE 2 SHORT TERM FINANCIAL GOAL AND 2 LONG TERM GOALS.
Students will complete this project in small groups. Each group will be required to collect the financial data of a real/hypothetical UAE national family and analyze the data on the basis of the learning of this course and then recommend improvements to the management of the family’s finances. It is recommended to use a real UAE family data rather than a hypothetical to provide a realistic family case study as much as possible.
On the basis of the information received about the real/hypothetical family, the group will develop a personal balance sheet, a budgeted cash-flow statement, and also elaborate the family’s maintenance and storage of personal financial documents and records and their short, medium and long term financial goals. The group would provide recommendations to improve the financial planning and management for this family – e.g. reducing expenses, increasing savings, better documents management, more realistic goals.
The report should be in word document format and will typically be 7- 10 pages.
Instructions to be follows:
Quote introduction from the PDF book which I attached
Describe a hypothetical family In UAE(numbers at least 6 members with house made, profession Age, source of income)
Describe 2 short term financial goal and 2 long term goals.
Talk how they record their information and expenses (excel or apps or you chose one)
Create balance sheet and cash flow statement sheet and budget statement sheet (Attached PDF file example should be follow in page numbers 15, 19 & 25 but with different figures)
Discuss a huge expenses (your opinion)
Analyses the key elements on the 3 sheets
Analyses any debt and cash deficits and if there is a negative net wealth.
Recommendations to improve the financial planning and management for this family – e.g. reducing expenses, increasing savings, better documents management, more realistic goals.
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