#3. Part A - Prepare draft budget 1. While preparing budget, you must: Determine scope and nature of required budgets. Analyse internal and external factors as well as all the available information that may impact the budget. Identify, interpret and analyse financial information from previous performance data to prepare budget. Use Appendix A and information provided in scenario for this purpose. Ensure you use the previous year's financial data, forecasts and notes from Mark and Emily's business information to determine allocations for resources. You should use the budget templates in Appendix B to prepare your draft budget. Access and sort information required for budget preparation. Develop financial estimates and scenarios while preparing budget. Use electronic spreadsheets/accounting software provided by your Assessor to prepare budget. Make sure your estimations of income and expenditure are supported with valid, reliable and relevant preparation. Prepare the budget in compliance with the statutory requirements. Reflect organisational objectives within draft budget. Ensure the budget you prepare reflects the budget format used by Mark and Emily. Assess and present options and recommendations in a clear format. Submit the completed budget in a single spreadsheet. 2. Circulate the draft budget to the management/owners of the restaurant by drafting