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ASSESSMENT TASK 3- PROJECT

Part 1:

CallmeMaybe is a mobile phone operator in Australia. This year, the company is anticipating its significant market share growth. This will result in many new customers in several new areas. CallmeMaybe is aiming for much higher income. Consequently it has adopted an organisational expansion policy seeking to maximise income. Although they are fine with the revenue forecast but unsure of their total budgeted expenses. ORDER YOUR PAPER NOW

1.1

Prepare at least 5 PowerPoint slides to CallmeMaybe executives explaining the importance of considering related expenses and discuss some of their controls as planning for its aggressive revenue expansion policy. Upload your powerpoint slides as one separate document with an appropriate file name. Your slides should include:

– Importance of realistic, ethical and attainable estimates of future cash flow, costs and revenues

– Use of relevant data for forecasting the expenditure budgets

– Anticipate any changes in circumstance due to internal and/or external factors

1.2 Establish the assumptions and parameters applicable to CallmeMaybe. Your assumptions should be justified with verifiable evidences. You can do online research to prepare your response.

1.3 Prepare a checklist to use in order to review for accuracy, relevance and compliance with organisational procedures and policy

1.4 Identify financial risks and initiate protection strategies for CallmeMaybe.

Part 2:

You are the Chief Financial Officer (CFO) of a leading retailer that imports furniture and directly sells those online. You have noticed that for the past two years the difference of actual figures and budgeted figures are significant. You are a bit worried about that. You also have been notified by the board members that the reports have not been distributed timely this year which may cause a delay in the projection of next year’s revenue. You have decided to review the budgeting process. ORDER YOUR PAPER NOW

2.1 Write a 200 word report on the importance of having a systematic budgeting process in the company.

2.2 Identify the possible hiccups in the existing budgeting process. Mention any assumption that you have made.

2.3 Recommend any changes to be made to fix the problem.

2.4 Prepare a plan of the implementation of the changes you have suggested.

Part 3:

3.1 Using the following template and line items data, compile a budget actual variance report for month of September.

• Salaries and on-costs total budget $175,500, YTD $75,000, monthly budget $2,600, monthly actual 2,800
• Travel total budget $40,000,YTD $10,000,monthly budget $5,600,monthly actual $1,600
• Stationery total budget $10,000, YTD $3,000,monthly budget $2,000,monthly actual $1,500
• Office expenses total budget $12,000,YTD $10,000,monthly budget $8,000, monthly actual $8,000
• Training(OH&S) total budget $24,000,YTD 0,monthly budget $2,000,actual $0

3.2 Complete the comments fields to explain possible reasons for the variances.

3.3 What are the budget implications from your analysis?

3.4 Prepare a schedule for your company to monitor budgeted outcomes periodically. Provide a justification for your answer.

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