o Prepare recommendations either for budgets or for modifications to existing Review the template you will use to complete this task. If you are using a template from your forecasts for the identified planning cycle. Recommendations must be for all of workplace/organisation, discuss with your assessor to ensure that the template covers all the following performance assessment indicators in accordance with Legislative, requirements that apply to this task. Otherwise, use the Financial and Business Requirements Plan regulatory, organisational, and industry requirements: template provided at the Bounce Fitness site.~ Budgets set out the plan for what your business is aiming to achieve. Forecasts Submit the completed Financial and Business Requirements Plan to your assessor. Include the indicate where the business is heading based on actual performance. supplementary documents/sources used to complete the Financial and Business Requirements . Income and Expenses Plan, including organisational documents containing the following information: Sales Income Organisational objectives.~ o Cost of Sales Budget objectives.~ o Gross Profit Existing financial systems. o Operating Expenses Financial reports derived from the existing financial systems.~ o Earnings Before Interest, Taxes, Depreciation, and Amortisation All of the following information for at least one planning cycle: (EBITDA) o Business targets Net Profit + Financial requirements o Return on Investment (ROI) Business system information Cash Flowe o Historical expenditure information associated with the business systeme o Cash flow from Operating Activities Financial forecasts o Cash flow from Investing Activities Operational contingencies o Cash flow from Financing Activities Financial risks o Identify the following: Economic information that impacts organisational objectives.~ At least two operational contingencies Legislative, regulatory, organisational, and industry compliance requirements for managing financial resources.+ At least two financial risks.~ At least three budget priorities.~ Complete the Financial and Business Requirements Plan, including all items above. Leave blank, the section on Agreement Reached With Stakeholders on Budget Recommendations. Review Workplace Assessment Task 1 - Assessor's Checklist before starting this task. This form outlines the following: Resources you are required to access to complete the task. All criteria your submission must address to satisfactorily complete this task. Your assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment.+Task 1: Financial and Business Requirements Plane Identify compliance requirements for managing financial resources, including:+ o At least two legislative responsibilities ASSESSMENT INSTRUCTIONS ~ At least two regulatory responsibilities At least two organisational responsibilities This task will require you to forecast financial and business requirements to develop a financial strategy. Identify at least one planning cycle in the organisation. Use your workplace/organisation's template to complete this task, or use the Financial and Planning cycle refers to a time period over which financial and business resources are Business Requirements Plan template provided at the Bounce Fitness site.~ funded, managed, and monitored. To complete this task, you must: ~ For each identified planning cycle: Access and review organisational documents containing the following information: ~ Identify at least two business system objectives, based on the business system information you reviewed. o Organisational objectives.~ o Identify business system requirements, based on the business system objectives, o Budget objectives.~ including:+ o Existing financial systems. . At least one business system used in the organisation. These refer to a detailed depiction of how organisations relate to their Business systems are a group of interdependent processes, elements, and environments and how they process information through strategic and tactical tools that help meet business objectives. management to create financial operating procedures. At least two business system requirements for each identified business Financial reports derived from the existing financial systems.~ system. o All of the following information for at least one planning cycle:" Business system requirements are what the above systems need to be able Business targets to meet business objectives and help provide value to stakeholders. Financial requirements For each identified business system requirement, all of the following, related to implementing the business system requirement: Business system information Historical expenditure information associated with the business systeme - At least one benefit Financial forecasts + At least one additional expenditure requirement Operational contingenciese At least one risk + Financial risks Feasibility. Economic information that impacts organisational objectives.~ o Legislative, regulatory, organisational, and industry compliance requirements for managing financial resources. Analyse the financial reports to identify the capacity of existing financial systems.~ Capacity refers to the ability of financial systems to account for revenue and implement financial strategy efficiently.+