BSBFIM601: Manage Finances – Case Study and Report - Accounting and Finance Assignment Help

Assignment Task:

Task:

Purpose of this Assessment task
This assessment task is designed to test your skills in managing finance as required by the unit BSBFIM601 Manage finances. Your trainer/assessor will be assessing your work and provide you with constructive feedback on Canvas. This task will assess your skills to:
? Create opportunities to maximise innovation within a team
? Organise and agree effective ways of working
? Support and guide colleagues
? Reflect on how the team is working.

In this assessment you will analyse the provided case provided, undertake research in the topics presented and prepare a report to demonstrate your skills and provide report to your Trainer. By successfully completing this Case Study you will provide the required performance evidence of your
competence in managing finances. What are you required to do to undertake this Case Study?

You should carefully read the provided Case Study; its additional documents provided on Canvas and undertake all questions.

The task includes:

(i) Analysing the case

(ii) Undertaking required research

(iii)Role playing and

(iv) Reporting.

Task 2: Portfolio of Evidence
Part A
1. Analyse the case study information (including business plan summary and previous financial data) and complete the following.
a. Develop a sales budget, profit budget, cash flow budget and debtor ageing summary using electronic spreadsheets (as separate worksheets) making sure each budget is divided into quarterly periods and that you use previous financial data to determine allocations for resources.

Ensure each budget you prepare complies with the organisational and policies and procedures as provided.
b. Develop budget notes which include:
i. identification of reasons for previous profits and losses
ii. your comment on the effectiveness of existing financial management approaches
iii. all assumptions and basis that have been made or used to form budgets
iv. any relevant notes regarding implementation and monitoring of budget expenditure.
2. Communicate information regarding the budget and answer a series of prompt questions in written or oral form as agreed with your assessor.

Case study
You have recently been appointed as the business manager of Houzit Pty Ltd having been a store manager for the past three years. Houzit Pty Ltd is a 15-store retail chain located in Brisbane. Houzit is the leading homewares retailer, catering to the growing need for furnishing new and renovated dwellings in the greater Brisbane area.

The assortment on offer of bathroom fittings, bedroom fittings, mirrors and decorative items together with the recently added lighting fixtures has positioned Houzit as a leader in homewares retailing in Australia. Houzit has grown over the past five years from a single store to the current chain. Houzit prides itself on superior after sales service which has been a key reason for the continued growth in sales and corresponding profit increases. Today Houzit employs over 150 staff.

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