Recent Question

ASSESSMENT 1
Course Name BSB61315
Advanced Diploma of Marketing and Communication
BSB61015
Advanced Diploma of Leadership and Management
BSB61215
Advanced Diploma of Program Management
Subject/module Financial Management 2
Assessment method Part A: Written Assessment
Part B: Written Assessment
Due date Session 5
Weighting 50%
Units of Competency BSBFIM601
Manage Finances
Instructions
1. Assessments should be completed as per your trainer’s instructions
2. Assessments must be submitted by the due date to avoid a late submission penalty.
3. Plagiarism is copying someone else’s work and submitting it as your own. You must write your answers in your own words or appropriately reference your sources. A mark of zero will be given for any assessment or part of an assessment that has been plagiarised.
4. A list of references must be included.
5. You may discuss your assessments with other students, but submitting identical answers to other students will result in a failing grade. Your answers must be yours alone.
6. Your trainer will advise whether the assessment should be digitally uploaded or submitted in hard copy. Assessments that are digitally uploaded should be saved in pdf format.
7. You must pass both assessments in the subject to pass the subject.
Assessment 1
Part A – Written Assessment
Your Task
1. Use the internet to RESEARCH and discuss in 1000 (3–4 pages) words the importance of workplace review and evaluation in the context of monitoring financial plans. Include in your report how work health and safety programs within an organisation can have affect on the financial performance of an
organisation (15 marks)
2. In 400 words DISCUSS how you would analyse the effectiveness of financial
monitoring and planning. (10 marks)
3. In 400 words OUTLINE how you would monitor such improvements that are
made in the monitoring of procedures. (10 marks)
4. VISIT some internet search sites and research and provide information on:
a. Bilateral or regional trade agreements
b. International Commercial Terms (INCOTERMS)
c. Competition and Consumer Act (2010)
d. Warsaw Convention
e. World Trade Organisation determinations
(25 marks)
6. In 400 words OUTLINE the requirements of the Australian Tax Office, including Goods and Services Tax, Company Tax, PAYG. Include in your answer areas such as:
a. Internal control procedures an organisation would need to have
b. Reporting periods for GST, Company Tax and PAYG
c. Outline the statutory forms that organisations are required to utilise when reporting their tax commitments.
(18 marks)
4. In 200 words OUTLINE the guidelines for businesses operating in Australia in regards to reporting of duty, excise and other overseas government charges.
(15 marks)
5. In 400 words DESCRIBE the discrepancies in business transactions that would not be acceptable and what processes can an organisation have to avoid discrepancies in their business transactions. (10 marks) The project must be typed and presented in a professional report format.
Part A total: 103 marks
Assessment1
Part B – Written Assessment
Proactive Management Consultants
Read the case study on Proactive Management Consultants Pty Ltd below.
Your Task
1. Prepare you cash sales income for each month (taking into consideration
your accounts receivable information). (10 marks)
2. Complete the financial reports for each period as requested (5 x Financial
Reports contained in the assessment). (25 marks)
3. Analyse the data and complete your recommendations. (10 marks)
4. Complete a new budget based on your recommendations. (20 marks)
5. Notate your recommendations to PMC on actual sales and expenditure for the following months:
• July
• August
• September
• October
• November
On the following pages adjust the actual sales and expenditure based on your recommendations.
(20 marks)
Proactive Management Consultants
Proactive Management Consultants Pty Ltd (PMC) are a small service organisation that provide consultative services to a wide variety of clients and have been in existence for just over five years. Typically, they advise their clients on professional development opportunities, organisation structure and simple training initiatives.
While the past 12 months have been profitable for PMC, they face a very uncertain future. Reducing government support, the global financial crisis, an increasingly competitive market and a client base that already believes they are already paying too much.
PMC prides itself on the advice they give their clients, however, finance has never been their strength. The PMC Board has approached your company to provide monthly financial reports and recommendations on how they should proceed with their financial plans.
PMC has provided each month’s sales and expenditure data from which they require your company to complete the reporting in the templates provided, interpret the data and provide recommendations.
Accounts payable are entirely paid month-to-month. Accounts receivable are calculated at 60% current month, 30% last month, 10% second to last month – actual May sales – $42,100; actual June sales – $47,300. These figures will be required to determine actual sales receipts for July and August.
PMC has also provided you with a list of initiatives they had planned to undertake over the next six months. They have budgeted for these in their financial planning and they need you to consider them in your recommendations.
They are:
a. Anticipate large invoicing month in July due to number of leads.
b. All company motor vehicle registrations and insurance are due in July, $18,000.
c. 15th August moving to new premises whereby rent increases to $3,500 per month.
d. To increase productivity PMC will upgrade all computers under expensed equipment in September at $12,000.
e. Have sought an aggressive advertising campaign in October to invigorate lost clientele, $16,000.
f. Due to advertising campaign, PMC are recruiting two new consultants in October. This will add 30% to November and December’s payroll and $10,000 in recruitment and training during October. It will also result in increased business (40% November and December).
g. Purchasing a licence to deliver an innovative training program in November for $20,000. Have contractual agreements in January and February that will generate $32,000 in sales.
h. Three employees on annual leave will have 50% impact on sales in November.
i. Conducting a professional development week for all staff in December, $18,000.
j. Employee bonuses due in December, anticipate $16,000.
Source: Innovation and Business Skills Council Ltd, 2009
Part B total: 85 marks Assessment 1 total: 188 marks

Disclaimer : LiveWebExperts.com provides assignment and homework help for guidance and reference purpose only. These papers are not to be submitted as it is. These papers are intended to be used for research and reference purposes only.