Manage Budgets and Financial Plan task 2




Manage Budgets and Financial Plan task 2

BSBWRT401A Manage Budgets and Financial Plan

Assessment Task 2

Implement financial management approaches

Name: Suchintana Moelgg

Student Number: WIN130371

Assessor Name: Deyaco

Date: 10/03/14

Task A

Role Play

Me: hello I need information about the budget

Senior Accountant: well I can provide you with this information

Me: that’s good. I would like to know the performance of the company

Senior Accountant: Yes this is important

Me: do you have the financial budget available?

Senior Accountant: yes let me just get the budget from the database

Me: thank you

Senior Accountant: so why is the budget so important?

Me: well I can use the budget to gain information about the expenses and how the company is spending its money. I can then identify ways that can improve the budget and create and overall objective for the budget

Senior Accountant: okay I have the budget you need

Me: great I will be reviewing the budget to make sure all expenses were efficient

Senior Accountant: okay glad I could help<...

Manage Budgets and Financial Plan task 2
Last updated: Jul 2022

Page 1


Me: thank you very much

Task B

Training Plan

  • Basic Excel Spreadsheet Formatting
  • Teach Bill the basics of Excel and all its functions

    Bill will have to perform a demonstration of his skills to make sure that he is competent to use Excel and is able to manage and maintain an excel Spreadsheet effectively.

  • How to Use Formula
  • Formulas are very useful for saving time when making a spreadsheet. It also eliminates chances of miscalculations because the computer will calculate the formula automatically. With the correct formulas the spreadsheet will auto adjust itself to the new changes.

    There are many formulas such as summing all columns or summing or rows. Etc. Almost any mathematical equation is available in the formulas.

  • Accounting policies and Procedures
  • This could include:

  • Authorizations: which job roles are allowed to authorise various activities within the business? e.g. opening bank accounts, new customers, overtime
  • Petty cash/cash handling: how cash within the business is to be controlled
  • Bank accounts: when and how new bank accounts are opened
  • Buying/purchasing: how to determine when stock, equipment and assets need to be purchased
  • Debt collection: how outstanding debts from customers are to be collected
  • Insurance/risk management: what within the business is to be covered by insurance or other risk management mitigation strategies.
  • ...

    Manage Budgets and Financial Plan task 2
    Last updated: Jul 2022

    Page 2

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