| Subject Code : | BSBFIM601 | Country : | Australia |
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Assignment Task:
Task:
STUDENT INSTRUCTION:
This is a research activity where you are required to use previous financial data of a company of your choice to determine allocations of resources and an opportunity to make informed estimates of new items for inclusion in budget as per organisational requirements and statutory requirements. Students will be given 2 hours to complete this assessment. Your research report has to be between 100 – 200 words.
The objectives of the assessment task along with the activities to be performed are given below:
1. Objective: To provide you with an opportunity use previous financial data to determine allocations for resources.
Activity: Select an organisation of your choice and obtain their previous financial data. Give an example of how you could use previous financial data to determine the allocation of resources.
Explain the figures and how you would allocate resources accordingly.
2. Objective: To provide you with an opportunity to make informed estimates of new items for inclusion in
budget.
Activity: Identify a new item you could add to the budget in your business. Estimate the costs of the new item and how it would be included within the budget.
You need to estimate both upfront and ongoing costs.
3. Objective: To provide you with an opportunity to prepare budgets in accordance with organisational requirements and statutory requirements.
Activity: Give an overview of the organisational policies and requirements you need to adhere to when you are preparing budgets. You can use your own format to complete this project.
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