You just took over the club of your choise, looked in your news and saw that the team's old coach hasbeen sucked and you appointed in his place. You have to evaluate your team and there are two actions you need to take in the first place:

1. Check your team's funds
   You need to do this in order to get a general idea of how rich the club is and understand how many and how expensive players you can buy. You can do this eiter by going to search for a player, click on a player and go to approach to buy and on the screen that appears you will see how much money the board lets you spend, or go to the club's stats (from the {your team} squad-->finances-->view transfer funds. Note that there are two values, transfer funds and balance, and the money you have may differ from those that can be allocated to a transfer. This is because the chairman might withhold some of the club's income as an "insurance" for the future, or to outpay debts you already have. On the other hand sometimes transfer funds may be over the budget's balance. This will mostly happen if you are successful in your work as a manager and the clubs financial status is secure, meaning that your chairman trusts you!
   Important note: When evaluating your team's financies, it is also important to take a look at the wage structure. Go to your team's main screen and sort players by wage. This is vey useful, because you will not be able ot attract players who currently get a much higher wage than the one you can afford!
2. Analyze your team's squad
   This is perhaps the most important movement you will do in your first days as a manager. It will allow you to learn your team's weeknesses and strong points, so that you go and buy the appropriate players. If you are managing a known club, it is highly possible that you already know the players and know who is playing at which position on the pitch. If you are working with a lower division club or random players, then you will have to start from scratch!
   The first thing you will need to do is keeping a basic tactic your mind. What makes the difference between a good manager and top-rated manager is the ability to adjust his chosen tactic to his team's squad. However almost anywone playing CM has a couple of standard tactics and we all prefer to adjust the squad to the tactic, buying the appropriate players instead of adjusting the tactic to our players, and just doing some fine tuning at a later stage.For more see choosing a tactic in your first day. For a complete tactic analysis visit our tactics bible
   Now You will have to take a closer look at the team's players. The first thing to do is filter the players by position and by side. Then you will have to click on everyone of your players and evaluate him. Is he good enough to stay at your club? Will he be able to hold a first-team place, or just be a substitute? Will you probably put him in the reserves (is he a promising youngster) or maybe is he to be transferlisted? It is far too important to keep in mind that you need a first-team player and a substitute for each position. So if you are playing 4-4-2 you will need 4 DCs, 2 top-class and 2 substitutes. The same applies to all positions.
   It is important when looking at players to know which are the most important attributes for each position. In case you are new to CM you might want to check our important attributes guide. You might also want to compare players players playing at the same position using the compare two players function, and i quite often ask my coaches opinion, especially for players which i am going to have transfre listed.
   Now that you know your squad you know what additions you need! Time to move on to everyone's favourite issue, buying and selling players!