manage budgets and financial plans

manage budgets and financial plans

Description  Details

Discipline Management

Assignment type : Reports 


You are required to produce a research and analysis report on the planning and implementation of financial management approaches, monitoring/controlling finances and reviewing/evaluating financial management processes in your organisation or any other organisation (approved by the trainer). You need to provide details of the organisation in task 1.

This organisation can’t be a very small size organisation with less than 20 staff members and annual revenue has to be more than a million. The organisation also needs to be operated in Australia and organisation must have a website for referencing and need to be referred by students.

You must provide references and website details of the chosen organisation.

This will include the following:

  1. Provide an overview of the organisation and your business unit
  2. Identify the internal strategic goals for this organisation and the external stakeholders, and discuss their influence on the financial decisions in to your organisation
  3. Discuss the different types of budgets your organisation is required to prepare and provide an explanation on how each budget is developed
  4. List the people, their roles and responsibilities in the organisation who are involved in the budget process (from planning to implementation). List the specific budget they are interested in.
  5. Discuss the process of negotiating budget funding after they have been allocated? How would you relate budget changes to your strategic and business goals
  6. Develop a contingency plan to cover changed circumstances and variations to budgets/financial plans
  7. Discuss reports which are required to show an analysis of actual versus budgeted outcomes (variances). How do these reports assist with improving variances and achieving financial objectives?
  8. What documentation do you need to manage the expenses and costs in your organisation? How do you use this to calculate estimates and develop cost management plans?

Format MLA

Academic Level: High School

Volume of 6 pages (1650 words)

Type of service: Custom writing

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