Question:33

Task 3.1 INSTRUCTIONS: As per the company policy, Manager are responsible for monitoring and recording expenditure each month. Imagine that the finance department has provided a report on expenditure for 2015- 2016.

Note that the company deems a standard variance in budgets of up to 5% acceptable. Note: Access budget information for the work team and use it to complete this task. 1. Enter the amounts into the budget under actual expenses. 2. Identify any expenditure overruns. 3. Report on the budget and expenditure including: a) projected budget and actual budget and variations b) overall level of variance, as well as variance for individual marketing activities c) reasons for overruns d) proposed solutions for following years budget 4. Also provide a copy of the budget showing projected, as well as actual figures.

Task 3.2 INSTRUCTIONS: Imagine reviewing the College's performance for the last six months. Provide with a profit and loss account for review, which will be required to analyse and provide a report to the CEO outlining performance in relation to the budget. 5. Analyse the information provided in the interim profit and loss account including: Calculation of net profit or loss for each Campus Calculation of variances between actuals and budgeted expenses - noting that variances of up to and including 10% are acceptable and do not need to be reported on 6. Based on the analysis of the profit and loss account, develop a short report to send to the CEO that: a) Outlines financial performance based on the figures in the profit and loss account b) Identifies variances higher than 10% c) Compare the performance of each campus d) Recommend solutions in relation to expenditure items where variances are higher than 10%.

Task 3.3 INSTRUCTIONS: 7. Review the aged debtor report. Analyse the information in the report. Note that the company's usual terms are payment 14 days from invoice. 8. Research best practice debtor management. 9. Provide a report for your CEO based on own analysis. Report should include: e) An outline of the information in the aged debtor report f) What this says about the company's aged debtor processes g) Develop at least 5 recommendations that could be adopted by the company in response to the analysis. This should be based on the debtor management research conducted. 10. Send the report to the CEO (assessor) seeking approval to implement best practice debtor management processes. What needs to be submitted for this assessment: A report on the budget and expenditure including: o projected budget and actual budget and variations o overall level of variance, as well as variance for individual marketing activities o reasons for overruns o proposed solutions for following years budget A copy of the budget showing projected, as well as actual figures A report that outlines: o financial performance based on the figures in the profit and loss account o Identifies variances higher than 10% o Compare the performance of each campus o Recommend solutions in relation to expenditure items where variances are higher than 10%. A report based on own analysis of the aged debtor report which includes: o An outline of the information in the aged debtor report o What this says about the company's aged debtor processes o At least 5 recommendations that could be adopted by the company in response to the analysis. This should be based on the debtor management research conducted. An email to the CEO that seeks approval to implement best practice debtor management processes