Categories
Uncategorized

Manage budgets and financial plans

a) Presentation and Role play. (10 – 15 minutes)
You will meet the CEO (your trainer/assessor). Present information about financial issues and requirements to a range of audiences using structure and language to suit the audience. Use active listening and questioning to clarify information and to confirm understanding. The role-play and presentation should take approximately 10 – 15 minutes
Prior to the presentation, you must make notes of your presentation and present your draft presentation to your assessor for approval. This is to ensure that your presentation is authentic and your own. Your assessor will allocate a date and time for you to present your presentation to the rest of the group.
During the presentation and role play, you must ensure you:
• Clarify budget/financial plans with relevant personnel (trainer/assessor as the CEO) within the organisation to ensure that documented outcomes are achievable, accurate and comprehensible
• Negotiate any changes required to be made to budget/financial plans with relevant personnel (trainer/assessor as the CEO) within the organisation
• Disseminate relevant details of the agreed budget/financial plans to team members
• Provide support to ensure that team members can competently perform required roles associated with the management of finances
• Determine and access resources and systems to manage financial management processes within the work team
ANSWER

Students will need to elaborate on the Issues as identified in the presentation.
ANSWER;
In your own Words.
ANSWER;
Research your work
ANSWER
Why is budgeting and financial planning so important to a business?
ANSWER;
What personnel in the organisation would be responsible?
ANSWER;
What are the outcomes we seek from budgeting and financial planning?
ANSWER;
Discussion was had with the Budget committee to negotiate changes to the original budget in areas such as Revenue and Costs/Expenses
ANSWER;
Summarise the results as discussed with the Budget Committee. The Assessor.
ANSWER;
Motivate and reward team members for meeting monthly revenue targets
ANSWER;
Identify and Recognise those who have reduced costs to meet budget.
ANSWER;
Meet regularly with team members to ensure monitoring of monthly results.
ANSWER;
We have identified high costs elements such as Rent, Salaries, Company Car etc.
Meet with The Operations Manager to have our rent re-negotiated.
ANSWER;
Meet with the HR Manager to discuss changes to the Enterprise Bargaining Agreement or (EBA).
ANSWER;
Re-negotiate the Company Car arrangements to create a Salary Sacrifice position.
ANSWER;

Leave a Reply

Your email address will not be published. Required fields are marked *