BSBFIM501 Manage budgets and Financial Plans:Australian Taxation

2. If you have any considerations that may affect your performance in the assessment, please inform your assessor immediately. Your assessor will provide you with a suitable alternative to complete this assessment.

3. Your assessor will mark your assessment and provide feedback and a grade to you via the assessment submission on Moodle.

4. If you feel the decision made by your assessor was incorrect you have the rights to appeal the grading through filling out an appeals form which will then be handle by the Academic Manager.

5. A “NYS” (not yet satisfactory) result of this task may be returned to you for a re-assessment. Re-assessments must be submitted by an agreed date with your assessor.

6. The re-assessment work must address the specific performance tasks beyond doubt for the assessor to issue a satisfactory (pass) result. A repeat NYS outcomecould lead to an administration fee for further reassessment.

7. All work must be done individually. Copied work will not be accepted andBy adding my name to this document, I hereby declare the work is my own and has not been copied from any other source.

Q.1 Create a one-page guide for a hypothetical organisation outlining how to access budget and financial plans. You should also note which personnel you would need to consult and what issues might need to be addressed, e.g. any changes to be made.Your assessor should have existing procedures and documentation for reference.

Q.2 What is the purpose of a contingency plant Note five possible contingencies that an organisation could implement.

Q.3 Who might you need to inform about budget/financial plans in an organisation? What information would the respective people need to know?

Q.4 Outline how the following resources and systems can help to manage financial management processes in your line of workOutline how cost expenditure meetings can be undertaken, list possible participants and what would be discussed in each one.

Q.5 What processes are involved in the monitoring of a contingency plan!

Q.6 Prepare a template Business Activity Statement, complying with Australian Tax Office regulations and broad organisational protocols. Upload the template as a separate file to MoodIe as a our final assessment.

Q.7 What financial records could be kept by an organisation and what methods of storage/organisation do they needs Give at least ten examples.

Q.8 What information may you be required to report to the Australian Taxation Office?

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