BSBFIM801: Manage Financial Resources - Unsatisfactory Performance Result - Management Assignment Help

Assignment Task:

Task:

PART A - Short answer questions:
1. Why do organisations expect their managers to act with integrity in financial dealings at all times? Express your view on this with reference to ‘financial probity and ethics’.
2. Unsatisfactory performance results failure in reaching and achieving the goal of a business organizations. Identify five corrective actions that management need to take to ensure the situation is rectified.
3. Explain why financial records for previous years could be important to keep in business organization. Identify what are the basic financial records that the Corporations Act 2001 may require a company to maintain?
4. The Privacy Act 1988 (Clth) deals with the responsibility that organizations have in relation to the security and confidentiality of customer’s personal information. Describe the privacy principles that need to be followed by private sector organizations.

5. Maintaining an audit trail will often help to identify discrepancies in the system. Identify key reasons behind the discrepancies between agreed and actual allocations of funds and resources.
6. An organisation analyse the performance reports in order to take corrective action when required. Identify various methods used by an organisation for analysing reports with examples.
7. List the various statutory functions of the Australian Securities and Investments Commission Act 2001.

8. What procedure should you recommend reviewing financial risk management activities of the place where you work.

9. What are the factors that are impacting deviation form an organizational budget? What adverse effects are happening for these budget deviations?

10.What are the steps in developing action plans to remedy significant deviations from budget objectives and projections.

Part B- Calculation
1. ABC Corporation has sales for the period of $3500,000 with a cost of goods sold of $900,000 and administration costs of $400,000.
The depreciation charge is $400,000 and the interest paid is $500,000. Calculate:

a. Cash Flow
b. Gross Profit
c. Net Profit
d. Operating Profit
e. Profitability Ratios

2. After completion of a meeting with each of the department managers for Roberto and sons, the below various results about the 2018 were extracted:

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