BSBFIM501: Metharom Has Been Hired To Build A Single-Story Home: Manage Budgets And Financial Plans Assignment, VU, Australia
University | Victoria University [VU] |
Subject | BSBFIM501: Manage Budgets And Financial Plans |
Assessment 1: Create financial plans.
Metharom has been hired to build a single-story home in Northcote, Victoria for Mr. Kavi Albif. Metharom has informed the client that the building works will take 35 weeks (approximately 8 months) and will begin on 03/03/16. Mr. Albif has made his initial deposit of 10% of the sale price. (Refer to appendix A for additional information regarding the project) To manage the finances for this build, you will need to forecast cash flow and prepare a plan for money management that includes the following information:
a) A financial plan for the build that shows when payments will be received from the client and the work that those payments will need to cover.
b) A contingency plan, in case of unforeseen circumstances
c) A process for monitoring spending on-site, including the frequency of monitoring
Assessment 2:
Give a presentation to the site supervisor and the work team for the site. Give a presentation to the site supervisor (to be played by your assessor) and the work team (your classmates) of your documentation from assessment 1. You will need to bring feedback forms for the team to provide responses to the financial plans.
Are You Searching Answer of this Question? Request Australian Writers to Write a plagiarism Free Copy for You.
During this presentation, you will need to do the following:
a) Accurately explain the plans and the intended outcomes
b) Detail how you will be available to assist the team regarding finances
c) Negotiate documents that will be used on-site to monitor the spending occurring on-site
d) Where the team suggest information that has not been included in your plans, you will need to add this information as an addendum to the plan
Assessment 3: Complete variance analysis and manage finances
With reference to the data provided in the appendices, prepare a report for upper management that includes the following information:
a) Calculation of the variance in terms of both dollars ($) and percent (%) (this may be entered into the table provided)
b) Implementation of a contingency plan that will prevent overspending throughout the rest of the build
c) Recommendation of three improvements to the financial policies to improve financial management (refer to the appendices for additional information)
Assessment 4: Keep records of payments made to the company, as required by the ATO.
The accounts team has cleared several payments that have been made to the company, as described in appendix D.
As the administration manager, you will need to do the following:
a) Input the invoices into the cash receipts book (Appendix E) as required by the ATO.
b) Develop and implement four improvements to the financial policies regarding record keeping.
Get Solution of this Assessment. Hire Experts to solve this assignment for you Before Deadline.
Get Help By Expert
Get help with the(BSBFIM501) Manage Budgets And Financial Plans assignment by hiring professional VU assignment writers in Australia. Our experts and specialists will completely help you with the assignment without any kind of hesitation. With our finance assignment help, you can understand the concept of management, Financial Budgets, Business Plan Writing, etc.
Recent Solved Questions
- BSBMKG541: You are advised to complete this section of your marketing plan last. You might include a brief overview of your products: Evaluate Marketing Opportunities Assignment, FU, Australia
- CPCCBC4001A: You Must Carry Out An Analysis Of The Project Plans: Apply Building Codes And Standards To The Construction Assignment, UC, Australia
- You Will Need To Conduct An Evaluation Of The Scenario, Identify The Problem, Diagnosis, Proof Of Causes: Airways Operation And Design Case Study, GU, Australia
- The Theme You Have Chosen For Your Two Biological Entities: Computer Science Assignment, SU, Australia
- NUM2409: Jade, a 60-year-old female, is admitted to the surgical ward following an emergency left femur open reduction: Adult Health Case Study, ECU, Australia
- SBI242: How Will Metoprolol Help To Reduce The Patient’s Blood Pressure: Case Study Assignment, USA, Australia
- Management Accounting Coursework Writings – University of Australia
- SITXMGT001: Identify and describe at least two (2) immediate problems affecting efficiency and service levels evident in the scenario: Monitor work operations Report, NSW, Australia
- Choose an aspect of personal development or character formation that you think is important to develop more in order for you to be the authentic person: Personal Development Essay, JCU, Australia
- BSBITU312: In Preparation For Creating Any Work, It Is Important To Set Up Your Workspace: Create Electronic Presentations Assignment, VU, Australia