Practical Budget Application - Calculation and Allocation of Funds - Business Assignment Help

Assignment Task :

PART A - Practical Budget Application  

You are required to prepare two (2) budgets  

1. Budget showing income for the period,

2. Budget showing expenses for the period.

The two (2) budgets must also be accompanied by notes to each budget that address the relevant points below.

To complete this part of the assessment task, you are required to:

1. Access your unit's current budget.

2. Determine the factors that can influence the budget and determine the calculation and allocation of funds.

3. Use the above information to complete the budget in the correct format as required by your organisation.

4. Outline how you will monitor the budget by developing an implementation and monitoring plan in line with your organisation's existing processes and current practices. 

5. Conduct a risk analysis and develop a contingency plan for variances in the budget. 

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