ASSESSMENT 1

You will need to write a report outlining the following:

• What methods would you use to plan for financial management including:

o What you would analyse in order to find information on previous profit/loss?
o How would investigate the reasons for previous profit/loss?
o How would you analyse identify future expenses etc...?
o How would you analyse cash flow trends?
o What requirements might you have in relation to taxation?
o What types of software might you need for financial management?

• Then discuss the steps involved in creating a budget:

• Then you will need to discuss the methods you will use to implement a budget including:
o Circulation methods
o Risk management
o Review methods
o Contingencies
o Tracking
o Compliance and statutory requirements
o Identifying types discrepancies

ASSESSMENT 2

1. What does a balance sheet enable you to do?

2. What are the issues that cause poor cash flow?

3. Monitoring expenditure has important advantages. What are they?

4. Why do you need a good financial record keeping system?

5. Give a description of the 3 most common programs used for financial input.

6. Give a detailed description of the below types of expenditure and income:
a. Gross profit
b. Net profit
c. Stock turnover

7. Describe what the following 3 phrases mean in detail:
a. Converting financial data to ratios or percentages
b. A ration by itself means little unless it is benchmarked
c. The benefits of financial analysis

8. What does "Tax Liability" mean?

9. Effectively auditing a budget requires an estimation process that is acceptable and/or reasonable. What are some issues to consider?

10. Explain the terms used to describe variations and what can the unfavourable variances be further classifies into?

11. What are 3 pieces of financial documentation necessary to verify expenditure? Give an explanation for each.

12. To ensure that you are in a good position to negotiate your budget submission what should you do?

ASSESSMENT 3 - CASE STUDY

You must accurately reference all of your external sources of information
You have been employed as business Manager with responsibility for legal compliance by a large Conference Venue in Melbourne. The venue can provide food and beverage and conference services for up to 500 persons. You have been requested to review the business regulatory policies and procedures

TASK

Choose one area of legislation or convention from the following:
• Bilateral or regional trade agreements
• International commercial terms (incoterms)
• Trade practices act
• Warsaw convention
• World trade organization determinations
• Requirements of the Australian tax office, including goods and services tax, company tax, PAYG.

The write a short report outlining the legislation/convention, what is it used for, why is it important in your organsation and how can it relate to business operations.