BSBFIM501: Manage Budgets and Financial Plans - Finance Assignment Help

Assignment Task :

Task 2

Assessment Instructions

This is an individual assessment. You are required to demonstrate the ability to monitor and control finances. In response to the scenario provided, you will create a simple spreadsheet budget to capture monitoring information. Using information provided to you by your assessor, you will then use the budget spreadsheet to produce a report on expenditure in accordance with organisational policies and procedures. You will also modify a contingency plan.

If you need help understanding any questions, ask your assessor to explain.

Procedure

• Read through the scenario provided and Part A and B.

• Design and develop a spreadsheet to capture budgeted and actual figures to produce a variance report.

• Access actual budget figures from relevant managers and accounting systems (assessor).

• Monitor and record actual figures.

• Produce a variance report as per organisational requirements.

• Consider the scenario information and contingency plan provided and analyse the variance report.

• Modify the contingency and implementation plans provided in the scenario to improve effectiveness.

• Submit all documents required in the specifications below to your assessor. Ensure you keep a copy of all work submitted for your records.

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