Please help......

Assessment ? - Project 1 Admin Manager 1 PA to CEO $ 75,000 8. How and why will you need to negotiate any changers required to be made $ 70,000 to budgets/ financial plans with relevant personal within the organisation? Case: The New WAPOL and OFES training organisation. 1 HR Manager $100,000 (300 words minimum 2 HR Clerks $ 60,000 X 2 = $120,000 Case Information 1 Accounts Manager $100,000 You have been appointed as the CEO of a new business set up by the WAPOL and 2 Bookkeepers $70,000 X 2 -$140,000 Part 2 1 IT Manager $90,000 DFES: 1 IT Technician $ 70,000 Element 2 Implement financial management approaches Your unit is a training organisation that provides training to the police forces and 2 Admin Support $55,000 X 2 $110,000 What budget and financial plans information, will you need to disseminate Total to the different cost centres, how you will disseminate that information? emergency services from around the world, your main customers are people from Sales Department 1 Sales Manager $ 160,000 developing countries. 6 Sales Reps $130,000 X 6 =$ 780,000 2. What support will you provide to your different teams so that they can 2 Admin Support $55,000 X 2 = $ 130,000 competently perform required roles associated with management of All participants will be housed at the old army barracks at Claremont, that is where Total finances? you have accommodation blocks, your offices and your training facilities Stores and 1 Manager Facilities $ 95,000 3. How wil your managers determine and access resources and systems to Maintenance 4 Maintenance Technicians $ 75,000 x 4 = 300,000 manage financial management processes within the work team? You are to operate it as a commercial business and the main aim is to make a profit 4 general duties staff $ 50.000 X 4 = 180,000 Your operational cost must be kept at 70% of your revenue. Total Cook House 1 Chef $85,000 Part 3 All profits will go back to the state government as your organisation had borrowed 3 Cooks $60,000 X 3 4 cookhouse support staff $60,000 X 4 Element 3 Monitor and control finances from them to start the operation and you are to return the capital outlay in 10 years of Total 1. What processes will you implement to monitor actual expenditure and to operations control costs across the work team and how will you do it? 2. What will you do to monitor expenditure and costs on an agreed cyclical You will employ Trainers, Admin people, Sales people and any other staff you need basis to identify cost variations and expenditure overruns to travel to do the selling of your intuition Total Payroll expenditure $ What polices and procedures will you implement, to monitor and modify contingency plans that are required to maintain financial objectives The state government has funded your business to become a world class training Total other Expenditure $ 4. How will your managers report on budget and expenditure in accordance centre. with organisational protocols that you implemented The following sections are your work teams/business centres and the number of Demonstrate an understanding of the following requirements with evidence or people employ and their payroll answer the following questions: Division Staff Employed Pay roll Part 1 Part 4 Fire and Rescue 1 Program Manage $140,000 services Training 8 Trainers $120 0DO X 8 - $960,000 Element 1 Plan financial management approaches Element 4 Review and evaluate financial management processes section 1 Admin support person $55,000 1. Make a list of accounting items that could come under Expense in your 1. How will data and information be collected and collated for analysis, for an 2 training technicians $ 65,000 X 2 = $ 130,000 business? (as many as you can practically think of) effective financial management processes for the work teams in your Total $ Make a list of accounting items that could come under Assets in your organisation? Police and 1 Program Manager $140,000 Business? (as many as you can practically think of) 2. If you read the financial reports and it showed that you are not meeting the Security Training 12 Trainers $120 000 X 12 =1,400,000 3. What should your revenue be? ( amount) some of the budgets, what could be the reasons, what could be some Section 1 Admin support person $55,000 4. What will be your profit in each financial year? improvements could you make? 2 training technicians $ 65,000 X 2 - $130,000 5. . Come up with ideas on how you will you generate revenue in your How would you implement and monitor agreed improvements in line with Total $ business? financial objectives of the work teams and the organisation Cyber security Program Manager $140,000 [500 words minimum ) Training Section 12 Trainers $120 0D0 X 12 = 1,400,000 .Where will you and your managers' access budgets and financial plans for 1 Admin support person $55,000 your teams? (300 words minimum) 4 training technicians $ 65,000 X 4 = $ 260,000 Explain with whom will you clarify budgets and financial plans with in the Total $ business and how will you ensure that documented outcomes are Main Office 1 CEO-You the Boss $220.000 achievable, accurate and comprehensible? (300 words minimum)Part 5 Performance and Knowledge Evidence 1. Why is it important to have the financial skills to interpret the following for managers? budgets ageing summaries cash flow petty cash Goods and Services Tax (GST) profit and loss statements 2. Explain how and why managers prepare, implement and modify financial contingency plans. 3. Why is it important to monitor expenditure and control costs? 4. How would you support and monitor your teams to meet their financial and budget requirements? 5. Why do businesses have to meet record keeping requirements for the Australian Taxation Office (ATO) and for auditing purposes? 6. Describe and explain 5 basic accounting principles 7. Explain the Goods and Services Tax (GST)