Assessment : MANAGE FINANCIAL RESOURCES
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:
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.