It is now 1 year later, and you are required to review the profit and loss account for 2018 - 2019, as well as the Cash Flow Statement Data. The Principal Consultant has asked you to review the conference costs, as the conference will not be repeated if it continues to lose money. Revisions need to be made to the conference budget and the conference fee increased to make it profitable. The review will be submitted to the company's management as a bid to host the conference again. To ensure that the revised concert budget is accepted with confidence by management, you are required to state the source of the figures that you use. This will make it easier for them to be checked and verified. The Principal Consultant would like you to propose a costcovering conference fee given a 10% increase in all the recorded costs for the conference as shown in the profit and loss statement (and that match the conference costs for the document you reviewed in Assessment Task 2) and assuming 70 people will attend the 2020 conference. The Principal Consultant would like a 20% return on the conference costs.

Complete the following activities:

1. A financial performance report.

Analyse the information provided in the following files:

Profit and Loss 2017/18

Profit and Loss 2018/19

Cash Flow Statement Data 2017/18

Cash Flow Statement Data 2018/19 Based on your analysis, develop a short report for the Principal Consultant that includes

Review of overall performance and gross/net profit margins.

Calculation of variation in actual versus budgeted amounts for each income source.

Calculation of variation in actual versus budgeted costs.

Identify the discrepancies between agreed budget allocations for the conference and the actual figures

Recommended revisions to the 2020 conference budget to deal with contingencies.

Proposed conference fee for 2019 conference assuming attendance of 70 people and to make a profit of at least 20%. Show your calculations. Use the Financial Performance Report Template to guide your work