BSBFIM801
manage financial resources
Assessment 1
Submitted by:
Introduction:
Part 1:
Financial Plan:
Using the template at the following web link, prepare a financial plan that includes a
cash flow forecast, balance sheet forecast and break even analysis
for your new business:
https://www.commbank.com.au/business/can/business-templates-and-forms/financial-plan-template.html
Part 2:
Financial Report
·
Products or services:
Describe the products or services that your business will produce.
·
Forecasting technique:
Identify which type of forecasting technique you will use to develop further financial forecasts.
·
Analysis of forecasts:
How will you analyse these forecasts?
·
Statutory requirements:
What statutory requirements do you need to consider in preparation of your budget?
·
Collection of comparative and trend information to support budget:
Describe how you will collect comparative and trend information to support your budget?
·
Negotiation strategy to acquiring funding for business project:
Explain your negotiation strategy with the bank manager relating to acquiring funding for your business project.
·
Records maintained to ensure up-to-date information about resource allocations and usage:
Describe the records that you will maintain to ensure up-to-date information about resource allocations and usage
·
Reporting budget performance and expenditure:
How will you report budget performance and expenditure?
·
Risk return analysis:
Explain the risk factors associated with your business idea and the expected returns?
·
Budget monitoring:
Describe how you plan to monitor the budget in the event of deviations.
Part 3:
·
Explain the reports that require lodging by this company according to the Australian Security and Investment Commission (ASIC)
·
Analyse these financial records by applying the horizontal and vertical analysis methods.
·
Explain whether you think that the organisations financial decisions will serve to meet the organisations planned outcomes.
Conclusion:
References