BSBFIM601 Assessment ` 2 (1)

Assessment Task 2

Growth Management Consultants

Finance Report

Introduction

All finance transactions as noted in this policy are to be authorised by the noted authorised person prior to the transaction being undertaken.

This policy is to be read in conjunction with other specific finance policies where relevant.

2014/15 Performance

Profit and loss statement for Grow Management 2014/2015

Conference Sale income

Conference attendance is aimed at 100 people $47,500

Cost of good sales($51,000)

E-book sale income

E-book sale $75

Cost of good sales($14,200)

Total ($17,625)

Budget for conference

Budget for E- book

Sale income

Cost of sale

Strategic goals and priorities

Key strategies

To be well led, high performing, profitable and accountable

Ensure that all financial operations, performance indicators and results support the strategic policies

Identify new and expand existing sources of revenue

Achieve profits of at least 10% per annum.

Develop services to meet customer needs and aspirations

Increase range of services offered to include change management and diversity

Plan for and establish an annual conference, starting in 2016.

Increase range of e-books commencing with Organisational Change e-book to be published during 2016.

Continue building deeper customer relationships

Customer-centred practice, with a focus on meeting their total needs for a high quality services

Strengthen the skills of our people, to better support customers

Drive innovation to better meet customer demands

Attract, engage and develop the best staff

Continuing the drive to a customer centred, high performance workforce and culture

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culture

Strengthening the skills of our people, to better support customer needs

Empowering innovation and responsiveness to change

Continuing to enhance the diversity of our workforce.

Employing additional consultants

Cash flow statements analysis

Provide your analysis of cash flow trends as per the cash flow statements.

Financial Software

Financial software that the business could use are:

ZOHO Book software.

XERO Accounting

QuickBooks Online Plus

Forecasts budget and income 2015/2016

Budget 2016

Total cost are $55,800

Estimated E-book costs

Total cost is $15,470

Income statement forecast 2016.

Conference Sale income

Conference attendance is aimed at 100 people $75,000

Cost of good sales($55,800)

E-book sale income

E-book sale $10,000

Cost of good sales($15,470)

Total profit $13,730

Develop a short report to provide to the management team at the meeting. The handout should explain:

GST reporting requirements (the company is required to report quarterly)

PAYG withholding obligations

PAYG income tax instalment

Payroll tax obligations (state government)

Superannuation entitlements and requirement to comply with legislation regarding frequency of payment, choice of fund and reporting to staff.

Email:

To:Managers

From:Financial management team.

Subject:Invitation of meeting.

Date:18 February 2019

Dear Sir/Madame,

I’m writing this email for make appointment the meeting date with the topic is discuss are for review the financial management policy and procedure that sets out reporting requirements and financial delegations.

A review of the management ’s performance and find the solution of best practice change for final approve.

For advance question please contract me directly.

Best regards,

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