FNSORG506: Financial Forecasts and Projections - Walls ‘N’ Halls - Case Study Assignment Help

Internal Code: 1ABHEI

Financial Forecasts and Projections Assignment Help

Task: 1 Question 1 – Written Procedure and Checklist Your task is to write a procedure or checklist of things that are required to prepare financial forecasts and projections of an organisation. Please ensure you include the following in your procedure/checklist:

1. Timetable preparation
2. Identifying assumptions and parameters
3. Issuing instructions for preparation of forecasts and projections
4. Collecting and analysing data
5. Documentation of results
6. Approval protocols

You will be required to provide the procedure and checklist to the assessor. Question 2 – Written Answers Provide answers to questions below in 1-2 paragraphs.

1. Discuss the difference between financial forecasts and projections.
2. What method can you use to review your plans?
3. Assumptions in business plans and exception reports need to be reviewed to ensure what?
4. Analysis of financial performance reveals trends over time in what areas?
5. What 4 steps will assist you to write clear and unambiguous instructions?
6. What are the three main types of businesses?
7. What are 6 types of financial models?
8. If there are many concepts and principles that apply to accounting that assist with ensuring data collected and processed is reliable, valid, complete and comprehensive. What are they?
9. Define the following four terms: comprehensive, valid, completeness and reliability.
10. What are the accounting cycle steps?
11. Discuss the three main types of accounting.
12. Failing to gain appropriate approval can result in what?

Task 2: Case Study and Practical Question 1 – Walls ‘N’ Halls

• Financial forecasts and projections

You are the project manager for Walls ‘N’ Halls project. The management of the project has provided you required financial information in Appendix and asked you to prepare monthly financial forecast for the project and present that forecast to CEO of the project within two weeks. For this task you will require the procedure/checklist that you created in Written Assessment Task 1. Additional Information

1. Accounting Standards
2. Organisational policies and procedures

Prepare the following for the Walls ‘N’ Halls project (for three months), using the template provided in the Appendix.

• Sales Budget
• Operating Expenses Budget
• Cash Flow Budget
• Budgeted Income Statement

While you prepare the financial forecasts and projections, you will need to ensure that you demonstrate the following:

1. Analyse current and historical financial reports to establish trends, and examine external environment to gain objective overview
2. Review data to ensure consistency with model used and document analysis results clearly
3. Collect reliable, valid, complete and comprehensive data
4. Process and consolidate data in logical structured format that enables ready analysis according to established timetable
5. Document results clearly in suitable format that meets needs of target users
6. Apply standard accounting principles and techniques.

• Presentation and role playing

1. You will meet the organisation CEO (your assessor) and undertake the following:

• Explain the project type
• Reasons for selecting proposed financial model
• Provide opportunity to ask questions
• Respond appropriately to all questions asked.
• Seek and obtain all approvals for proposed financial projections in accordance with management objectives and financial and organizational policy.

2. Write an email to distribute results within required timeframe to relevant stakeholders. Question 2 – Written Report Create a report which provides information regarding the following topics for an organisation in financial service industry in Australia. You may choose any organisation for this task.

1. Describe relevant financial industry codes of practice
2. Explain financial forecasting techniques, models and best practice
3. Identify key users or audience for financial forecasts and projections
4. Outline factors in the external environment that can impact on financial forecasts
5. Outline the relevance of historical financial reports to forecasting
6. Identify and interpret relevant organisational policy and procedures
7. Explain key requirements of relevant legislation and regulations that influence the financial services industry

The report should be a minimum of 1000 words and should be accurate and evidence provided through references. You may choose any relevant business report template for this task.

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