60. Consultants is a consultancy business specialising in leadership consultancy and has been operational for the last seven years. The company offers a range of services to assist companies to assess leadership behaviour of existing managers and performance metrics and to design and implement customised leadership programs based on the assessment. Services are offered Australia-wide.
61. the last two years, the company has diversified and offers regular professional development workshops on leading and managing staff. These workshops are conducted approximately every 3 months in all major cities including Sydney, Canberra and Melbourne. In 2020-2021, the company ran a total of 36 workshops. The company has also recently produced an E-book about leadership techniques.

20. intention is to replace the workshops with the annual conference in the next financial year (2021-2022) as the workshops were not well attended and client feedback indicates a personalised, company focused approach in the form of consulting services is the service of choice.
21. E-book has had reasonable sales but there needs to be a wider selection of books, as well as more marketing. The plan is to generate $15,000 worth of sales for two e-books during the next financial year and increasing over time.
22. the General Manager for the company and with responsibility for finances, you are currently completing the financial planning for the year ahead 2020-2021. This involves a review of the companys business plan, previous years profit and loss statement, and cash flow statements. Based on the review, you will be establishing budgets and allocating funds. In developing the budget, you are to assume a 5% increase in cost of sales, as well as a 10% increase in sales for consulting services and executive search.
23. per the business plan, the company plans to run a bigger annual conference in 2022. The costs for the conference have been estimated. Conference attendance is aimed at 150 people.

1. completing the financial planning, the CEO has also asked you to review the current accounting software used by the business. The company is currently using MYOB but wants to know the best accounting software for the business. Including a cloud feature.

3. the following activities:

16. A

1. Prepare a financial performance report.

• Review the scenario information above and in your introduction please provide an overview of the information from the scenario. It is important to mention what has not been working so well and what areas the organisation is expanding into.
• Using all information provided including the Business report you need to comment on economic conditions and business trends?
• Provide an analysis of the organisations goals and priorities for the upcoming financial year as documented in the Strategic Business Plan and financial resources required to achieve these goals, as well as key dates.
• Also please review the 2020-2021, Profit and Loss Statements and the 2020-2021, Cash Flow Statements provided to you on Canvas. From this information write a report which provides the following data:

1. revenue generated, cost of sales
2. Was the company profitable or not? Was it as profitable as it had hoped to be?
3. Calculate the profit margin providing this in a percentage format
4. Name the 3 highest expenses in the business.
5. On your cash flow sheet what items were over or above the budgeted amount. Please provide this in percentages I.e. was it over by 5% etc.
6. Once you have completed this data you will also be required to report your findings using graphs or pie charts

• Review and analysis of at least two other financial software packages that the business could use, including the advantages and disadvantages of each, as well as the advantages and disadvantages of MYOB that is currently used.

PART B

2. Develop budget forecasts for the next financial year.

• Ensure that the analysis of the previous years data and future goals as indicated in the business plan is taken into account in determining projected income and expenditure.
• As per the organisations financial management policy and procedure, the budget forecasts are to be submitted in Excel. Develop a suitable format within Excel for your budget.
• Ensure that your budget includes the estimated income and costs for the conference and e-book to be implemented in 2022. This is provided to you as a separate document.
• Assume a 5% increase in all general costs, as well as a 10% increase in income for consulting and executive recruitment service. Input costs and income for the conference and e-book as per the data indicated in the document.