For this question you are required to consider the implementation of budgets for your organisation, or one that you are familiar with. This may be an organisation that you have previously worked for or one that you are in close contact with, such as your training provider, a not-for-profit organisation that you volunteer for, or a sporting or social club.

a) Document the budget circulation process and identify the methods and communication techniques you would use in the process. Consider using a diagrammatic approach to demonstrate it, such as a flow chart.

b) Review the organisation's internal control measures.

• Outline the organisation's internal control measures for minimising the risk of funds misappropriation and discrepancies.
• Explain how the measures comply with relevant statutory requirements.

c) How would the organisation manage unfavourable variances in the cash budget as a result of a major client regularly paying their invoices late?