BSBFIM601 - Financial Reporting Cycles And Capital Investment Evaluation Techniques - Finance Assignment Help

Assignment Task -

1 Define the term “management accounting”.

2 Describe the purposes of the four different categories of budget.

• REVENUE BUDGETS  

• EXPENSE BUDGETS  

• CASH BUDGETS  

• CAPITAL EXPENDITURE BUDGETS 

3 What information would you require to plan and prepare a budget for a new business?  Where would this information come from?

4. Define the following terms commonly used in a budget discussion:

• CAPITAL INVESTMENT 

• CAPITAL EXPENDITURE 

• CASH FLOW 

• BREAK EVEN 

• GROSS PROFIT 

• RISK MANAGEMENT

5 What are the financial reporting cycles relevant to providing financial oversight of the operations?

6 Describe 2 different capital investment evaluation techniques

7 What are the benefits of participative budgeting?

8 What steps would you take to effectively implement the budget into a team environment?

9 Research the term “financial probity” on the internet and provide a description of how you will apply that concepts to your financial planning and budget preparation.

10   What records need to be kept for the ATO for a small business with an annual turnover of less than $2million (cash basis)

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