FNSACC501 Provide Financial and Business Performance Information

Did the student satisfactorily:
    
1  Explain the key requirements of relevant corporations and consumer legislation?

2.1  Explain what a business plan is?

2.2 What the characteristics of a business plan are?

2.3 Provide at least five reasons for writing a business plan?

3.1 Prepare the cash budget?

3.2 Compare and contrast forecasting techniques?

3.3 Identify and explain the key principles of cash flow and budgetary control?

4 Describe a range of methods for presenting and formatting financial data?

5 Identify and explain the key features of government fiscal policy and how it might affect the financial management of a business?

Question 1

Explain the key requirements of relevant corporations and consumer legislation.

In your answer concentrate on brief/dot-pointed explanations of the most important requirements of the Corporations Act 2001 (Cth) as it applies to directors’ duties, fundraising, and reporting and disclosure, and Australian Consumer Law (i.e. Schedule 2 of the Competition and Consumer Act 2010 (Cth)).

Question 2

(a)What is a business plan?
(b)Describe the characteristics of a business plan.
(c)Provide at least five reasons for writing a business plan.

Adapted from Hughes, Richard & Senaratne, Godfrey, 2014, Provide Financial & Business Performance Information, 5th Edn., National Core Accounting Publications, Bondi NSW. Chapter 10, Chapter Review Questions Q1 & Q3

Assessment tasks

a)Prepare a cash budget for June. (Note: For simplicity ignore GST in your calculations).

North Point Ltd’s Policy and Procedures Manual requires Cash Budgets to be prepared in a spreadsheet package using the format on the following page.

b)Briefly compare and contrast forecasting techniques.

c)Briefly identify and explain the key principles of cash flow and budgetary control