Profit & Loss Sheet1 Bounce Fitness Bounce Fitness 17B Evergreen Avenue 17B Evergreen Avenue Cairns 4870 Cairns 4870 Operating Statement Operating Statement August 2021 September 2021 Budgeted...

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This assessment will require you to review the same Operating Statement report over the month of Aug & Sep, used in Assessment Task 4:
Operating-statement-AUG & SEPT 2021


Review the report in detail and answer the associated questions using the following Template:




BSBFIN502 Task 5 Financial Risk Analysis Template


You need to research and complete the Financial Risk Assessment within the template.


· Completed Financial Risk Analysis Template





Profit & Loss Sheet1 Bounce FitnessBounce Fitness 17B Evergreen Avenue17B Evergreen Avenue Cairns 4870Cairns 4870 Operating StatementOperating Statement August 2021September 2021 BudgetedBudgeted IncomeIncome Membership Fees$17,523.64Membership Fees$18,403.63 Clothing Sales$540.91Clothing Sales$395.45 10 Session cards$4,218.1810 Session cards$9,227.28 Casual attendance fees$776.36Casual attendance fees$534.55 PT sessions$14,018.18PT sessions$19,607.27 Hi Protein Shakes$500.00Hi Protein Shakes$950.00 Hi Protein Snacks$450.00Hi Protein Snacks$675.00 Promotion 12W Fitness Challenge$12,409.10Total Income$49,793.18 Total Income$50,436.37 Cost of Sales Cost of SalesCost of Sales - Clothing$1,136.36 Hi Protein brand items$3,019.96 Gross Profit$50,436.37Total Cost of Sales$4,156.32 ExpensesGross Profit$45,636.86 General & Administrative Exp Phone and Internet$113.64Expenses Total General & Administrative Exp$113.64General & Administrative Exp Advertising$5,318.19Phone and Internet$113.64 Operating ExpensesTotal General & Administrative Exp$113.64 Lease of Gym Machines$23,000.00Operating Expenses Professional Fees$86.36Lease of Gym Machines$23,000.00 Supplies for members$23.00Professional Fees$86.36 Total Operating Expenses$23,109.36Supplies for members$23.00 Employment ExpensesTotal Operating Expenses$23,109.36 Wages & Salaries$21,675.64Employment Expenses Other Employer Expenses$1,950.81Wages & Salaries$21,075.64 Total Employment Expenses$23,626.45Other Employer Expenses$1,896.81 Occupancy CostsTotal Employment Expenses$22,972.45 Rent$1,000.00Occupancy Costs Water$260.32Rent$1,000.00 Total Occupancy Costs$1,260.32Water$260.32 Total Expenses$53,427.96Total Occupancy Costs$1,260.32 Total Expenses$47,455.77 Operating Profit($2,991.59) Operating Profit($1,818.91) Other Income Other Income Other Expenses Other Expenses Net Profit / (Loss)($2,991.59) Net Profit / (Loss)($1,818.91) &8&D&8MYOB / Excel&8&T FINANCIAL Risk Analysis – BSBFIN501 Based on the same reports used in Task 4 over the months of August and September (remembering that the financial year commences in July) outline your plan to alleviate the current ongoing risk of the business operating at a monthly loss. Use the table below to complete this task: 1) Outline the team members that you would communicate with in relation to planning a meeting and discussing your concerns. 2) Identify the areas that you are planning to discuss with these team members. 3) Outline HOW you would communicate and liaise with the team that you have brought together. 4) List here the relevant policies and procedures you believe would need to be reviewed in line with minimizing the financial risks of the organisation. 5) Complete the FINANCIAL RISK ANALYSIS Template below outlining your main areas of concern, costs reduction, increasing income, etc. (Add additional rows as needed) Financial Risks Risk rating 1 (low) to 5 (extreme) Plans to reduce identified risk Date to review 1 2 3 4 5 1 BSBFIN501 – Financial Risk Analysis Template Capital College RTO: 41593 | CRICOS: 03537J | CAN: 606 797 611 | ABN: 16 606 797

Answered 2 days AfterJun 06, 2022

Answer To: Profit & Loss Sheet1 Bounce Fitness Bounce Fitness 17B Evergreen Avenue 17B Evergreen Avenue Cairns...

Sushil Narasagonda answered on Jun 08 2022
70 Votes
FINANCIAL Risk Analysis – BSBFIN501
    Based on the same reports used in Task 4 over the months of August and September (remember
ing that the financial year commences in July) outline your plan to alleviate the current ongoing risk of the business operating at a monthly loss.
Use the table below to complete this task:
    1) Outline the team members that you would communicate with in relation to planning a meeting and discussing your concerns.
    I would like to communicate with the CEO/President of Bounce Fitness and Sales team and Trainers.
    2) Identify the areas that you are planning to discuss with these team members.
    Break Even Point, Fixed Costs, Income generating services.
    3) Outline HOW you would communicate and liaise with the team that you have brought together.
    1. Sales team should design the packages in such a way that more people will avail the services of the Gym. As the fixed cost is same, if we increase no. of people we can start generating profit. Calculate the no. of people required to achieve the break even and keep a target audience to join the Gym keeping in mind the profit to be earned.
2. We have lot of scope in increasing sales of Clothing, Branding, protein shakes, protein snacks etc. It is the job of Trainers who should also focus on...
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