SITXFIN004: Prepare and Monitor Budgets - Reflecting Organisational Objectives - Accounting and Finance Assignment Help

Assignment Task :

Assessment Criteria:

To achieve a satisfactory result, your assessor will be looking for your ability to demonstrate the following key skills/tasks/knowledge to an acceptable industry standard:

• Interpret financial information and data and data sources required for budget preparation

• Analyse factors that impact the budget and integrate knowledge of budget preparation

• Draft and prepare budget in a clear format, reflecting organisational objectives

• Calculate income and expenditure with valid information

• Monitor budget and amend budget figures to reflect actual expenditure and income

• Include budget notes and budget deviation data

• Allocate budget resources

• Evaluate budgetary performance

• Integrate knowledge of formats, use and contents of budgets and statistics

• Complete budget within designated timelines

ASSESSMENT TASK 1: BUDGET CASE STUDY

You are a Hotel Manager for the COTAH Hotel and have been requested by your General Manager to arrange a staff “professional development” (PD) experience for all department managers.  There are ten (10) department managers plus partners therefore twenty (20) people in total. All managers and staff will fly to Hayman Island and enjoy four days and three nights inclusive of all meals, beverages and day excursions. Note: You are the Hotel Manager and you must be included in the cost of all activities and meals but not the airfare and accommodation. Three of your main suppliers have sponsored the trip and these contributions will be used to fund part of the cost.

Budgeted Expenses 

The professional development (PD) experience will likely include the following expenses:

1. Business class airfare $1250 per person return to Hamilton Island. 
2. Accommodation is $3000 per room for three(3) nights (single/twin/double) – sharing is allowable
3. Transfers to Hayman Island are included in the room cost.
4. Drinks including wine and beer have been budgeted at $230 per person for four(4) days.
5. A motivational speaker has been booked for an all-inclusive cost of: $10,000

This Accounting and Finance Assignment has been solved by our Accounting and Finance Experts at onlineassignmentbank. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.