BSBFIM601A: Manage finances-Competency Being Assessed-Report Writing Assignment

Internal Code: MAS253

Report Writing Assignment:

Question 1: 1. Create a portfolio of evidence containing the key planning and budgeting documents for your organisation/business unit for a current or recent period. Include: a. Statements of mission, goals, objectives: b.key performance targets (and those accountable for their delivery) c. pro-forma financial statements d. operating budgets e. finance budgets and expense budgets. 2. Draft a brief description of each of the assembled documents, noting their purpose,the main information elements within them and the linkages from one document to another. Also include a description how you and others contribute to the creation of these documents and how you and others use these documents for business planning. 3. Using a recent report detailing actual performance versus budget, provide a commentary on the results, explaining major variances and making recommendations regarding corrective action. Question 2: 1. Create an integrated plan and budget for a real (or imaginary) project of interest to you. Set three or more performance targets, including at least two financial performance targets, by which eventual achievement of the project objective(s) will be assessed. 2. Include in the plan budgets covering capital expenditure, cash flow as well as the operating (profit and loss) budget for the period. (This will normally involve the production of spreadsheets showing the monthly budgeted figures.) Detail any assumptions adopted in the creation of these budget. 3. Identify the major risks to the achievement of the financial targets and strategies for the monitoring and control of the project. 4. Show how support for the plan will be secured and detail the process by which actual performance will be assessed against the plan and budget.