Assignment Detail:- BSBFIN601 Manage organisational finances
Part: Develop BudgetsThis task will require you to develop a Profit & Loss budget and a Cash Flow budget using the data gathered in Workplace Project Part 1, in compliance with statutory and organisational requirements-The budgets will be circulated later in Workplace Project Part 3-Use your workplace/organisation's template to complete this task-To complete this task, you must:• Review the data and information gathered in Workplace Project Part 1- This includes:o Profit & Loss Statement of the workplace/organisation for the previous two financial years-o Cash Flow Statement of the workplace/organisation for the previous two financial years-o Cash Flow Forecast for the current financial year-o The workplace/organisation's business plan for the current financial year, with relevant initiatives and month-wise revenue and spending planned for the current financial year-• Access and review the statutory requirements for financial management-• Access and review your workplace/organisation's financial policies & procedures, which reflect the organisational compliance requirements for developing a budget-• Identify all the initiatives planned for the current financial year from the business plan-• Identify the planned month-wise revenue and spending for each initiative-• Develop the following:o Profit & Loss budgeto Cash Flow budget
Review Workplace Project Part 2 - 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-You assessor will discuss these resources with you, and the criteria outlined in this form prior to this assessment-Review the template you will use to complete this task- If you are using a template from your workplace/organisation, discuss with your assessor to ensure that the template covers all requirements that apply to this task-Submit the completed Profit & Loss budget and Cash Flow budget to your assessor- Include any supplementary documents/sources used to create the budgets, such as:• Organisational documents such as:o Policies & procedures for developing a budget-o A business plan for the current financial year, with relevant initiatives and month-wise revenue and spending planned for the current financial year-• Printed or online sources relevant tostatutory requirements for financial management, including government websites-
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