ASSESMENT 1 MANAGE BUDGETS AND FINANCIAL PLANS KEYLA NIEVES 1) Using your current workplace or a simulated workplace where you are the manager‚ describe the following: A. The name of the organisation and the types of business activities. Maykala Restaurant: preparing and serving food to clientele. B. Your work team and your main responsibility in the work team. Food production: Chef Gaming Restaurant supervisor Bar head person C. The types of budgets and financial plans that you are responsible
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Introduction to effective practice and risk management Effective practice principles This assignment will explain three effective practice principles: criminogenic need‚ programme integrity and responsivity‚ followed with a brief case example of how it is used in my professional practice. Criminogenic Need The criminogenic need principle involves the basic idea of identifying key dynamic risk factors related to offending behaviour (Chapman & Hough 1998‚ Winstone & Heath 2010)‚ such as
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Chapter 7 Operating budgets: bridging planning and control solutions Review Questions 1. A plan for using limited resources. 2. Firms budget for (1) planning‚ (2) coordination‚ and (3) control (performance evaluation and feedback). 3. Operating budgets reflect the collective expression of numerous short-term decisions that conform to the direction set by long-term plans. Financial budgets quantify the outcomes of operating budgets in summary financial statements.
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Assessment Task 1 Manage budgets and financial plans Big Red Bicycle Pty Ltd Task A Based on the master budget‚ there have something wrong and unclear. All the numbers are the same‚ evenly quarter two have more sale than other quarter‚ at least less 30% than quarter two. We can easy to recognize with a few changes and we can achieve a goal $1.000.000 Option 1: Sales on Q1‚ Q3 and Q4 less 30% than Q2. That’s mean the volume of Q2 going to increase
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000*2.5 =25.000 Q3= 700.000*2.5% = 17.500 Q4= 700.000*2.5% = 17.500 FY = (17.500*3)+25.000= 77.500 New Plain for repairs and maintenance FY= 50.000 Q1 = Q2 = 25.000 Q3 = Q4 = 0 If we do the analyses with new information of sales‚ commission and budget for repairs and maintenance‚ we will have some modifications into the table sheet projection/ plain. The changes will be on: Gross Profit Q1=Q2=Q3=Q4 = Sales – (commissions +direct wages fixed + Cost of Goods Sold) Gross Profit = FY = (532. 500*3)
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Manage Budget and Financial Plan Case Study Introduction Domino’s Pizza Enterprise LTD is the largest pizza chain in Australia in terms of both network store numbers and network sales. It is also the largest franchisee foe the Domino’s Pizza brand in the world. Domino’s Pizza holds the exclusive asters franchise rights for Domino’s brand and network in Australia‚ New Zealand‚ France‚ Belgium‚ Netherlands and Japan. The brand is now owned by Domino’s Pizza. Domino’s Pizza Enterprises now extend
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Best Financial Practices in Healthcare Strategic Budgeting and Planning Planning and budgeting play an important role in the finance function of all health services organizations (Gapenski‚ 2008). Planning involves the overall process of preparing for the future‚ and budgeting is a part of the planning process. Strategic planning is usually conducted at the highest levels of the healthcare organization’s hierarchy. The organization’s mission and goals
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is this report disseminated and how is this done? “The financial report provides people who are interested in a company – such as shareholders‚ lenders‚ analysts and employees – with information about the financial performance and financial position of the company”( A guide to understanding annual reports 2012). It is one means by which directors of the company advise shareholders on how the business has performed during the year. The financial report also provides information to shareholders on how
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Manage Budgets and Financial Plans ntroduction In this project‚ I will analyze the financial reports of commonwealth bank Australia. 1. To whom is this report disseminated and how this will be done? This report will be disseminated to; * Management * Shareholders * Investors * Creditors * Board of directors * Employees * Government This will be done in any of the following ways; * Through E-mail * Through post * Through newsletters * Through
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From: Mr Xolani Xulu Master in Business Administration Student A REPORT ON THE MOST EFFECTIVE GENERAL MANAGERS 1. Executive summary According to Boyer and Associates (2010)‚ a General Manager (GM) “is not a job but a position”. He further states that a GM is a focal point and has the authority to impact immediately any area of a business. This tells us that such a position must be occupied by someone that has relevant experience‚ the right attitude and necessary skills to make a
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