Task 1:
Task requires you plan for financial management To enable you to do this, you must access the Bounce Fitness website to print and use the financial documents of the organisation. You need to access:
* A Budget for each Centre - under the Performance tab and then in each Centre folder and the Head Office folder, you will find a budget for each Centre and the overall Head Office one.
* Business Objectives and Key Performance Indicator and the Business Plan - under the Infrastructure tab
* Financial Policy and Budget Policy - under the Policies tab.
On your own paper, using the reports you have accessed:
1 Review the financial data, comment on areas that have generated a profit or loss and suggest reasons why this could have occurred.
2 Review the Financial and Budget Policy and the Business Objectives and Key Performance Indicators and discuss whether the goals of these documents are being met.
3. Review the cash flows of Bounce Fitness Centres. Are they sufficient to maintain the Centres or should changes be made? If you recommend changes, discuss what you would recommend to be done and what impact you would expect this to have.
4 Review the statutory requirements of the Australian Taxation Office and discuss whether they are being met efficiently. Make recommendations if appropriate.
5 Based on the information gathered, evaluate and recommend improvements to the overall financial processes in Bounce Fitness.
Task 2 - Practical: Allocate Funds
In the second part of this assessment you are required to establish a budget and allocate funds. In order to show your competency in this area, you are required to:
1 Use the budgets and allocate resources for next year. You may assume that any changes you recommend will be enacted immediately if legal and feasible. Make informed estimates for any new items that are to be included in your budget if applicable.
2 Prepare the budgets in compliance with both statutory and organisational requirements.