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you will assemble to discuss the

Referencing Styles : Open

Task 1

1.List relevant personnel within ABBA who you will assemble to discuss the budgets and financial plans to ensure that the documented outcomes are achievable, accurate and comprehensible.

2.List the five source documents that you can access for information to include in your Budgets and Financial plans.

3.Give examples of (2) two business operational risk scenarios that could affect your initial budgets and financial plans. What contingency planning strategies will you need to put in place if your initial financial plans need to be varied?

4.Name (5) five main required roles associated with the management of finances – on a daily, weekly and monthly basis.  Include a short description of each job role.

.5.What are (5) five ways in which you could provide support to your finance team members to ensure that they can competently perform their job roles?

6.List and describe (3) three of the main resources and/or systems that finance personnel may need to successfully manage financial management processes.

7.As the Finance Manager, what processes would you implement to monitor actual expenditure and to control costs?

8.Name (6) six source documents you would need to access in order to report on actual expenditure and to control costs.

9.As the Finance Manager you will regularly collect and collate for analysis, data and information on the effectiveness of financial management processes within the work team. List (8) eight documents where you could source such data and information.

10.Explain what GST is and how it works in Australia.

11.Explain which Australian businesses have to register for GST and why this is so.

12.Identify and record all the business records you must keep for taxation purposes?

13.State all the legal requirements that the ATO directs, for keeping good business records?

14.Research and fully explain your findings as to what the ATO describes as being the three (3) requirements for keeping your tax records electronically.

Write a Financial Report (in the appropriate format) to the restaurant owners; include the following:

Based on the variances found, identify the possible causes for such deviations and incorporate your recommendations for improving the business performance.

Explain your reasons for the necessary adjustments made to the budget for the 2nd, 3rd and 4th quarters of 2013 and your contingency planning strategies.

 



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