Cash flows and agei ngsummari and revi

Due Date:

Student ID No:

Assessor’s Name:

assessment i s not equi tabl e, fai r or j ust. I understand that the El i te Educati on Vocati on Insti tute’s Student Assessment,

Reassessment and Repeati ng Uni ts of Competency Gui del i nes appl y to these assessment tasks.

 You must compl ete thi s assessment i n your own ti me.

 You must compl ete thi s assessment i n your own words wi thout i t bei ng pl agi ari sed. If you have quoted i nformati on from a

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You must retai n a copy of your compl ete submi ssi on.

Assessment Pol i cy. A hard copy of thi s form i s al so avai l abl e from Recepti on or your trai ner.

 Assessment wi l l be revi ewed and returned to you wi thi n two weeks. Feedback, where requi red, wi l l be provi ded to enabl e you

assessments for a uni t of competency on the speci fied due date. If the assessment i s compl eted or submi tted wi thi n the peri od of extensi on, no

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If you are assessed as NYS, you wi l l be el i gi bl e for re-assessment. You wi l l be gi ven feedback on the reason for the resul t. If requi red, you wi l l

Assessment Overview

The candi date must demonstrate the abi l i ty to compl ete the tasks outl i ned i n the el ements, performance cri teri a and foundati on ski l l s of thi s uni t,

 prepare, i mpl ement and revi se a budget that:

 al i gns wi th busi ness pl an

 contri bute to financi al bi ds and esti mates

 revi ewi ng financi al management software

 managi ng ri sks of mi sappropri ati on of funds

 Case study – Houzi t Pty Ltd (Appendi x 1 – Assessment Case Study)

Technol ogy resources such as a computer, i nternet access wi th suffici ent data to conduct searches and work wi th El i te onl i ne

Analyse the reasons for

and cash flow trends for

Houzit Pty Ltd

The existing software and its
suitability for financial
management and your
recommendation

Task 2 - Establish budgets and allocate funds

Budget forecast for FY2023

Gross Profit 7,297,631

Gross Profit % 43%

– Advertising 350,000

– Cleaning 16,282

– Luxury Car Tax 12,000

– Fringe Benefits Tax 28,000

Total Expenses 5,841,371

Net Profit (Before Tax) 1,456,261

Aged debtors budget

Sales

Debtor Days

Review and revise budgets during implementation

– Cleaning
– Repairs & Maintenance
– Rent
– Telephone
– Electricity Expense
– Luxury Car Tax
– Fringe Benefits Tax
– Superannuation
– Wages & Salaries
– Payroll Tax
– Workers’ Compensation
Total Expenses
Net Profit (Before Tax)
Income Tax
Net Profit

Role Play: Presenting the Financial Management Report in Board Meeting (your trainer would assume the role of Company Director). The preparation for your presentation will be as below. You will need to obtain feedback and approval from Houzit’s Board of Directors.

Due diligence considerations on financial probity

• Legal context and market practice

Review of salaries .

Revision of advertising

Financial delegation (Di scuss how budgets shoul d be prepared for al l cost centers)

5. Recommendations

Proper authority

Due diligence considerations on financial probity

Assessment Submission Checklist to be completed by the Assessor

Assessment Task 1

for tax

1.4 Anal yse exi sti ng software and i ts sui tabi l i ty for financi al

Re-assessment

required

Not Yet Satisfactory

Re-assessment

Satisfactory

Not Yet Satisfactory

Not Yet Satisfactory

Final Assessment Result for this unit C NC

Feedback is given to the student on each Assessment task on

assessments are carri ed out as requi red by the Pri nci pl es of Assessments.).

Assessor Name