Financial Plan Analysis Template Assessment 1 BSBFIM XXXXXXXXXX Financial Plan Analysis – BSBFIM501 Assessment Task 1 Ageing Summaries Looking at the Ageing Summary tab – answer the following: 1) How...

There is two assignments to answer the question assignment 1 financial plan analysis and assignment 2 written exam there is total 3 files I uploaded.


Financial Plan Analysis Template Assessment 1 BSBFIM501 - 2021 Financial Plan Analysis – BSBFIM501 Assessment Task 1 Ageing Summaries Looking at the Ageing Summary tab – answer the following: 1) How will you address the unpaid invoices listed here? Outline the action you would have your team take to obtain payment 2) Explain what the ‘Terms’ mean for both clients and why they may differ? Petty Cash Looking at the Petty Cash Summary tab – answer the following: 1) Considering the dates of transactions – would this balance of $100.00 be a sufficient amount of Petty Cash for the organisation? 2) Is this adequate documentation for petty cash? What else would you expect to be attached to the summary? 3) Research the general uses of Petty Cash within businesses and organisations and outline what are the ‘normal’ uses for Petty Cash below: 4) Who is normally responsible for the managing of this cash? Cash Flow Statement Looking at the Cash Flow tab and comparing the 2nd and 3rd Quarter statements from 2020 – answer the following: 1) What is the major variance between the two quarters in relation to cash paid for? 2) Is the expected income going to be appropriate in a forecasted period of 12 months based on the trends of your cash flow statement? Please explain your answer. 3) IF the forecasted income is not deemed high enough by Senior Executive what areas will the organisation need to focus on to increase the income/cash received? Profit and Loss Statements Looking at the Profit and Loss tab and comparing the 2nd and 3rd Quarter statements– answer the following: 1) What areas will need immediate review if the NET PROFIT continues to decrease? 2) Is there an item in the 3rd Quarter statement that stands out as needing more explanation? Identify why and explain your answer please. Balance Sheet Looking at the Balance Sheet tab and comparing the 2nd and 3rd Quarter statements– answer the following: 1) Review and analyse the Liabilities in both quarters – outline the differences and explain why this may have occurred ‘in your opinion’ – research this first! BSBFIM501 Final Assessment 2021 BSBFIM501 Final Short Answer Exam Questions: Covers the Elements for knowledge and comprehension. Instructions: Complete the following answers in detail, using your OWN WORDS. Do not copy and paste from the resources. It is best if this is completed after Week 3’s presentations. Enter your name below and complete the answers – SAVE and then upload the final document along with your Cover Sheet to Canvas for grading. Use only .doc and .pdf uploaded please. STUDENT NAME: (type here) 1) What is a budget? 2) What is a cash flow projection? 3) Explain the difference between a budget and a financial plan 4) Describe 2 (two) of the budget negotiation strategies discussed in the modules 5) List the 4 (four) processes that ‘may’ be included in a Contingency Plan: (not the 5 steps in achieving a Contingency Plan) 6) List 4 (four) reports that may be used on a regular basis to monitor an organisations financial position 7): List 5 (five) documents that you would access if undergoing a review/analysis of the financial management processes 8) Describe what ‘control activities’ are and list 4 (four) examples of them: 9) List 4 control activities that ensure that any manager actions are actually implemented: 10) Research and identify the relevant legislation and current requirements of the Australian Taxation Office (ATO) in relation to Goods and Services Tax (GST) BSBFIM501 Final Assessment V2.0 2021 1