Instructions (for assessments not embedded within the LMS)
· The assessment must be written using an industry standard software package such as Microsoft Word, Excel, PowerPoint, etc.
· Name the file using the assessment task number and then save your file.
· Ensure your submission identifies the unit code and title, the assessment task number and the name of the assessment at the top of the page. Alternatively, you may place this information in the document header.
· Add your name and student number to the header or footer on every page.
· On completion, submit your assessment to your assessor via the LMS.
This unit applies to tourism, travel, hospitality and event businesses. While the case study scenario is based on a hospitality business, the principles for managing a budget demonstrated in this assessment are the same in all types of businesses.
This assessment requires you to calculate and report on budget deviations.
You are required to do the following.
· Complete Tasks 1, 2, 3 and 4 in Assessment E.
· Read the scenarios and answer the questions.
· Round all dollar values to the nearest whole number when calculating financial information; for example, $12.55 becomes $13, $18.22 becomes $18
· Round all percentages to one decimal point when calculating financial information; for example, 12.55% becomes $12.6%, 18.22% becomes 18.2%.
· All budget calculations can be completed manually or using computer-based spreadsheet software, such as Microsoft Excel or Google Sheets.
It is the end of the June financial quarter and all departments in the Jackson’s hotel are preparing financial and statistical reports.
· Go to your Course files folder and open Assessment E_Bistro reports.
· Complete the Bistro profit and loss statement – June quarter by calculating all missing dollar value and percentage variances.
· Save the completed profit and loss statement locally as Assessment E_Bistro reports.
· You don’t have to submit the completed profit and loss statement yet. You will do so after you complete Task 2.
· Go to your locally saved files folder and open Assessment E_Bistro reports.
· Complete the Trend analysis report – June quarter using the information provided.
· Save the completed trend analysis report as Assessment E_Bistro reports.
· Save the completed reports locally and submit to your assessor once completed.
· Prepare a short report to management outlining the following information.
· Positive and negative budget variations indicated in monthly and quarter analysis reports and profit and loss statement that are
significant enough to affect the operation of the bistro and its profitability.
· Trends identified in the trend analysis report that have the potential to affect the bistro’s profitability in the immediate future.
· Possible reasons for the positive or negative variations and trends.
· Any recent actions that have been taken or changes to operational procedures as a result of trends and deviations.
· Base the report on the following information.
· Profit and loss statement
· Trend analysis report
· April, May and June comparative analysis reports
· Case study information provided in Assessments C and D
· Your responses to questions in Assessments C and D
· The report should present information in a clear, concise and easy to understand manner so it supports good decision-making
· Save your completed management report as Assessment E_Management report.
· Submit the completed report to your assessor once completed.
Q1: The following factors must be considered when preparing financial and statistical reports. Select three factors that are relevant to one or more of the reports you prepared or completed in Tasks 1, 2 and 3.
Discuss how they influenced preparation or outcomes of the report(s).
Factors for consideration in the preparation of financial and statistical reports.
· Performance of department, project and/or products and services
· Daily, weekly and monthly transactions
· Variances in income and/or expenditure
· Sales performance
· Sales returns
· Staff costs
· Cash flow
· Covers and financial return
· Occupancy rates and financial return
· Stock levels
Did the learner successfully demonstrate evidence of their ability to do the following?
Complete financial reports within designated timelines and using correct budget terminology.
Prepare and present clear and concise information to enable informed decision making.
Use numeracy skills to interpret and use budget figures in day-to-day work operations.
Interpret business and financial documents and document clear recommendations based on budget information and reports.
Use problem solving skills to identify and report deviations according to significance of deviation.
SITXFIN003 Manage Finances Assignment_E, personal finance assignment help, financial management homework help, finance assignment writing service, do my finance assignment, finance assignment writing, online finance assignment help, finance assignment help, financial planning assignment help, financial management homework help, finance assignment writing service, accounting and finance assignment
Holding a PhD degree in Finance, Dr. John Adams is experienced in assisting students who are in dire need...
55 - Completed Orders
Canada, Toronto I have acquired my degree from Campion College at the University of Regina Occuption/Desi...
52 - Completed Orders
Even since I was a student in Italy I had a passion for languages, in fact I love teaching Italian, and I...
102 - Completed Orders
To work with an organization where I can optimally utilize my knowledge and skills for meeting challenges...
109 - Completed Orders
JOB OBJECTIVE Seeking entry level assignments in Marketing & Business Development with an organization...
202 - Completed Orders
Current work profile Project manager- The Researchers Hub (2nd Jan 2016 to presently working) Researc...
20 - Completed Orders
Sales Assistant, Mito Marina Assigned to the Stationery dept – assisted in merchandising, stock taking...
100 - Completed Orders
Personal Profile Dedicated and highly experienced private chauffeur. High energy, hardworking, punctua...
200 - Completed Orders
I'm Lizzy, full time education specialist in English, Essay Writing, Economics and Maths. Having Assi...
109 - Completed Orders