Project 1

• Collect relevant data and prepare and submit operational budgetsfor a range of organisations.
• You must collect and use data relating to relating to:
• previous budgets and forecasts
• cash flow and cash flow projections
• fixed costs
• sales records and projections
• variable business costs
• estimates and projections
• Conduct appropriate research and discuss the different aspects of the budgets with stakeholders, covering, for example:
• annual planning
• cost reduction
• rolling forecasts: next period, monthly, next year etc
• budget timeframes
• procedures that will be followed to identify and monitor variances
• Report any variances to designated stakeholders, for example, chief executive officers, clients, directors, financial institutions involved in the business.
• Document the budgets in an appropriate format and include, for example, explanations of calculations used, explanatory notes, graphics and data tables. Include a Statement of financial performance and Statement of financial position.