BSBFIM801 manage financial resources Assessment 1

BSBFIM801

manage financial resources

Assessment 1

 

Submitted by:

<Student name>

<Student Id>

 

 

Introduction:

 

< Imagine that you have just started a new business and you wish to convince the bank to finance your enterprise

 

 

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:

 

http://ift.tt/1ROtrk9

 

 

 

 

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:

 

<Obtain financial statements from a company already in existence and undertake an analysis of these statements by answering the following questions>

 

• 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

 

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