GAC5010 Performance Management Assignment

Assignment Help Management Theories

Reference no: EM132491526

GAC5010 Performance Management - Gulf College

Assessment Task

Mr. Ali is operating a small business for a year now. He struggles with finances due to his inability to set realistic and measurable targets. He has limited background of accounting and finance. He presented you with the following actual data from the 2019 business operations.

Sales	5,000 units @ OMR3.55
Cost of sales	OMR 6,000
Rent	OMR500
Utilities	OMR750
Salary	OMR1,000
Other expenses	OMR700

He asked you to prepare for him a suitable budget for the next three years. Prepare a report of 1500 structured as follows:

I. Budgeting and types of budget (300 words)
• Discuss with Mr. Ali the benefits of budget.
• Explain with Mr. Ali the different types of budget that he can use in his business.

II. Preparation of budget (1000 words)
• Using the data given above, prepare the steps to be followed in setting budgets.
• Compare and contrast the following budgets and prepare a sample pro-forma budget based on the given data:
a. Static and Flexible budget
b. Traditional and Zero-based budget

III. Recommendation (200 words)
• Explain with Mr. Ali the importance of budget control

IV. References
At least five (5) references in Harvard Referencing style

Attachment:- Performance Management.rar

Reference no: EM132491526

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GAC5010 Performance Management Assignment : GAC5010 Performance Management Assignment help and solution, Gulf College - assessment writing service - Discuss with Mr. Ali the benefits of budget

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