Prepare a statement of financial position

Assignment Help Management Theories
Reference no: EM13858133

Task -1:

You are to research and prepare the following revenue. expenditure and capital investment proposals for a business or strategic opportunity of your choice. This opportunity must be for a business that, as a minimum has:

  • Start-up capital
  • Overheads including rent, wages, stock, etc
  • Scope for growth

Your strategic opportunity may include one of the following:

  • New product / service development
  • New models / revisions of products / services
  • Expansion / contraction of operational activities
  • Alliances / joint ventures
  • Outsourcing / in sourcing
  • New business opportunities

The reports must include:

  • Financial budgets including start-up capital
  • Projected profit & loss for 12 months
  • Cash flow plans
  • Capital expenditure budgets

When undertaking this assessment task, you must:

  • Express your strategic opportunities in term of tactical and operational objectives
  • Convert these opportunities into special projects or work programs
  • Analyse financial trends, and interpret them in context of your objectives
  • Clearly outline your financial planning objectives, process timeframes and resources.
  • Consult with all relevant persons / groups when developing your proposals
  • Consider past experiences, present trends and future expectations
  • Show how your proposal is linked to your organisational strategic objectives
  • Incorporate a realistic cost benefit and risk analyses / management plan into all proposals
  • Detail your organisational investment target rates for capital expenditure proposals
  • Identify performance measures and tactics for monitoring and control processes for each proposal / action
  • Describe how your proposals comply with your organisations values, policies, code of conduct, and legal / ethical obligations
  • Submit your proposal within the time-frame set by your assessor
  • Provide supporting evidence (cost/benefit analyses, risk management plans, market research results, net present values, interest rate of return, pay pack calculations, etc)

The assessor must discuss the proposed business opportunity with the candidate prior to commencing with this assessment.


Next, you are to develop the budgets and plans for your proposals developed in PART A. Throughout this process, you assessor will act as your supervisor for all negotiations required.

In developing the budgets and plans proposed, you are to include details on how:

  • Negotiation was undertaken with relevant groups and individuals in ways to build commitment to the plans
  • You identified and agreed on the links to the achievement of organisation strategies
  • Your negotiated with your supervisor (your assessor) to obtain a clear agreement of the matters to be incorporated into the budgets and plans

Your budgets and plans should:

  • Show all outcomes confirmed in terms of clear, concise objectives and timeframes
  • Incorporate the outcomes of your negotiations and meet your organisations approval process
  • Provide written confirmation of all delegations, accountabilities and responsibilities
  • Be clearly documented and include a communication plan

Throughout this project you need to communicate clearly with your assessor. You are to demonstrate professionalism with all communications, as you will be representing your company and position.

ASSESSOR will role-play the position of supervisor, and all parties required for negotiation in order to demonstrate competency in this unit.


Now you are to take your completed PART A and PART B and arrange an appointment with your assessor, who will role-play a finance specialist. In this meeting, you are to

  • Manage the meeting direction and progress
  • Discuss with the finance specialist the aspects of your budgets / financial plans (the package)
  • Have your package reviewed, ensuring your validate your reasons and proposals.
  • Amend / revise your package as appropriate

You must now:

  • Detail in writing all delegations and budget accountabilities for implementation and management of your package
  • Develop a written procedure that details the recording systems and documentation process you will follow for monitoring and controlling all activities against your plans.
  • Develop a risk management and contingency plan for all your proposed financial plans; along with a policy and procedure to be followed when implementing these plans
  • Develop a policy and procedure that outlines proper maintenance of records of financial performance and provides for evaluation of the effectiveness of your financial management process

Assessment 2

students are to utilise the information given to complete the comparative balance sheet for TMH Ltd. The relevant information needed is also included. Once completed, students are to analyse the performance of TMH Ltd.

1. Prepare a statement of Financial Position

Include appropriate diagrams and graphs to highlight relevant information

Ensure compliance with AASB standards

2. Prepare a statement of Financial Performance

As above, include relevant diagrams and graphs and ensure compliance with relevant legislation and statutory compliance guidelines

3. Once the above statements are completed, students should further analyse the company's performance by comparing the above data with company goals as stated in Appendix 2.

State how the company goals have varied from the actual data

Prepare relevant graphs and diagrams to further highlight these differences

For this task you are to identify and evaluate a minimum of 3 commercially available financial management software for its appropriateness within your actual or projected business. You need to consider

1. Price

2. Usability

3. Features and functions

4. Compatibility with other programs

5. Compatibility with other specialists

Provide your review in the form of a written report, making a recommendation on the most suitable product for you. Be sure to explain your approach. including the pro's and con's of each product evaluated.


For this task, you are identify and evaluate a minimum of 3 commercially available financial management software for its appropriateness with your actual or projected business, you need to consider

1.       Price

2.       Usability

3.       Features and  Functions

4.        Compatibility with other programs

5.       Compatibility with other specialists

Provide your review in form of report, making recommendations on the most suitable product for you. Be sure to explain you approach. Including pros and con’s of each product evaluated.   

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Reference no: EM13858133

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