1. As the financial manager you have completed the budget for Q4 2018. You must now implement your budget by composing an email and circulate your budget across the organisation to managers and supervisors, using the email template provided. In your email you must make it clear for the managers and supervisors, of their commitment to meeting the financial targets of the budget and the fact that they must report to the finance department upon completion of the budget period.

Note: your email must not be more than 150 words in length.

2. In order to manage financial risks, you must prevent misappropriation of funds. As the financial manager of Nara Group, you will ensure that funds are allocated in accordance with the budget. To achieve this you will prepare a risk management strategy that will be used to record all financial transactions.

To complete this activity you must create a risk management strategy to properly record all financial transactions. In your risk management strategy you must create a reporting system which includes the frequency of reporting, to whom will the managers be reporting, whether the managers will be reporting before or after the transactions and the frequency of reviews conducted by the person to whom they are reporting. Your strategy must also include internal controls, explaining what managers must do to remain compliant.

3. Review the Nara Groups accounts and statements by completing the following activities.

Using the actual performance figures provided in [Excel Sheet 3-Performance Figures Q4], review the Q4 2018 budget and determine actual profit and loss for the quarter.

Review the ageing summaries for Q4 2018 in [Excel Sheet 4-Ageing Summaries]. In your review, complete the summaries and determine the outstanding accounts receivable at the end of Q4 2018.

Using the figures you have determined in your profit and loss and ageing summaries review and complete the Cash Flow Statement for Q4 2018, in [Excel Sheet 5-Cash Flow Statement].

4. You conduct due diligence by reading the contingency requirements in the case study. In reading the requirements you realise that the Q4 2018 budget has not accounted for contingency. Revise the Actual Performance Q4 2018 Operating Budget to include the policys requirements [Excel Sheet 3-Performance Figures Q4].

5. Conduct an audit trail by reconciling the Nara Group bank statements with the financial statements.

In order to reconcile the financial data you must review the bank statements for October/November/December 2018 (Appendix 1) against the Operating Budget, Cash Flow Statement and Accounts Receivable, by checking if the figures match or if there are discrepancies.

Use the audit template provided in Appendix 2 for your review.

6. You have conducted due diligence by reading the Nara Group case study. In your due diligence you find that the Nara Group had the main growth objective of doubling its profits in Q4 2018 as compared to Q3 2018. Ensure compliance with due diligence findings, by calculating if the Nara Group achieved its objective.

Note: be sure to use the actual profit not the budgeted profit for Q4 2018. Use pre-tax profit.