STUDENT NAME: MARIANNA SOFIANIDOU
STUDENT ID NUMBER
COURSE: DIPLOMA OF MANAGMENT
201301004
UNIT OF COMPETENCY: WEEK 4
Assessment no:# 4
TITLE OF ASSESSMENT: BSBFIM501A Manage budgets and financial plans
DATE DUE: 11/2/15 DATE SUBMITTED 4/5/2015
Review and evaluate financial management processes
Submission details
This assessment task must be submitted online by the due date specified by your Trainer/Assessor and Assessment Plan for this unit of competency. Any variations to this arrangement must be approved in writing by your assessor.
Submit a file with the required evidence attached as per
Specifications below
Acknowledgement of original work, free from plagiarism as per Assessment Plan
Special needs (considerations if required
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As part of your role, you will need to complete the following four activities.
Activity 1
As you are aware, one risk to the strategic plans of Big Red Bicycle (BRB) is bad debt and poor cash flow due to large trade debtors balances. Consider the following: according to its policies, Big Red Bicycles offers 30 day terms to debtors currently, BRB does not train sales staff on credit terms there is currently no enforcement of credit terms warehousing of stock is expensive at current leased premises many bicycles need to be thrown out if parts rust; this problem exacerbates the problem of waste expense.
You have the following information from the Statement of Financial Position and current ledger accounts in the electronic accounting system (MYOB AccountRight).
Account
$
Trade debtors
362,500
Trade creditors
80,000
Opening stock
100,000
Closing stock
300,000
Purchases
1,000,000
Complete the following.
1. Review the Statement of Financial Performance in the appendices to calculate:
a. The average debtor days: 362,500/2,900,000x365=45,625
b. The average creditor days: 80,000/1,000,000x365=29,2
c. The average stock turnover : 380,000/200,000=1,9
Show calculations and results on your response document for this assessment task.
To find the average debtor days I divided the amount of the trade debtors (362,500) by the amount of the sales (2,900,000) and then multiply for 365 that is the number of days in a year.
To find the average creditor days
Please note that this Assessment document has 7 pages and is made up of 3 Sections.
Please note that this Assessment document has 7 pages and is made up of 3 Sections.
Please note that this Assessment document has 8 pages and is made up of 3 Parts.
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Please note that this Assessment document has 9 pages and is made up of 9 Sections.
Please note that this Assessment document has 14 pages and is made up of 4 Parts.
As the chief information security officer for VL Bank, we were notified by several of our commercial customers of unauthorized wire transfers in an amount greater than $290,000. This is very concerning since we take pride in our information security.
Please note that this Assessment document has 8 pages and is made up of 7 Sections.
Please note that this Assessment document has 15 pages and is made up of 7 Parts.
Please note that this assessment document has 9 pages and is made up of 4 Parts.
It has come to my attention from the security analysts of VL Bank and victims that commercial customers of VL Bank have been involved in identity theft and fraud. Multiple user accounts were created without authorization claiming the identity of our customers. These fake accounts were used to make twenty-nine transfers of $10,000 each, equaling $290,000. The bank transfers were being sent to several U.S. bank accounts of unknown individuals. The U.S. banks involved in the transfers were Bank A in California, Bank B in New York, Bank C in Texas, and Bank D in Florida. After the funds were transferred to one of these banks, the funds were
This assessment task must be submitted online by the due date specified by your Trainer/Assessor and Assessment Plan for this unit of competency. Any variations to this arrangement must be approved in writing by your assessor.
Please note that this Assessment has 6 pages and is made up of 3 Sections.
The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.
The assessment task is due on the date specified by your assessor. Any variations to this arrangement must be approved in writing by your assessor.