BSBFIM601 Manage Finances ACTIVITIES

ASSESSMENT 1 OF 3 – ACTIVITY

BSBFIM601 Manage Finances

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1 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

Assessment Instructions

This assessment addresses the following elements

ELEMENTS
1. Plan for Financial Management
2. Establish budgets and Allocate funds
3. Implement Budgets
4. Report on Finances

Assessment details
• This is assessment one of three for this unit.
• This is a summative assessment.
• This assessment is single sided.
• It is an open book assessment.
• This assessment must be completed individually.
• All questions are to be answered correctly to be deemed Satisfactory in the
assessment.
• The cover page must be completed in full when you submit the assessment.
• This assessment must be submitted in by the due date or it will be deemed an
automatic NYS. If that is the case the student will be charged a re-
assessment fee if the assessors deem it NYS when they mark it.

Candidate Instructions

• Assessment must be completed electronically and submitted.

• Ask your assessors if you do not understand a question. Whilst your
assessor cannot give you the answer, he/she may be able to re word the
question so it is easier for you to understand.

Special Instructions

There are no special instructions for this assessment.

ANIBT’s normal rules of assessment apply for this assessment – please refer to the
Delivery and Assessment Strategy for this unit (given at the commencement of the
unit) and your student Handbook for the following details:

• Access and Equity – Plagiarism - Collusion

• Assessment Process - Re-Assessment - Assessment Appeals

Assessor Instructions

There are no special instructions for the assessor.

ANIBT’s normal rules of assessment and assessor instructions and guidelines are
detailed in the Trainer and Assessor responsibilities handbook.

2 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

ACTIVITY 1a

Identify an area of business and explain how you could use different forms of current and
present financial data to ascertain whether the department made a profit or a loss.

You do not have to use actual figures from your business.

Ｄｉｆｆｅｒｅｎｃｅ　ｂｅｔｗｅｅｎ　Ｂｕｄｇｅｔｅｄ　Ｅｘｐｅｎｄｉｔｕｒｅ　ａｎｄ　Ａｃｔｕａｌ　Ｅｘｐｅｎｄｉｔｕｒｅ：　
Ｉｎ　２０１２－２０１３，　ｔｈｅ　ｄｉｓｐａｒｉｔｙ　ａｍｏｎｇ　Ｂｕｄｇｅｔｅｄ　Ｅｘｐｅｎｄｉｔｕｒｅ　ａｎｄ　Ａｃｔｕａｌ　Ｅｘｐｅｎｄｉｔｕｒ
ｅ　ｗａｓ　＋１５０，０００，　ｉｎｄｉｃａｔｉｎｇ　ｔｈａｔ　ｔｈｅ　ｆｉｒｍ　ｓｐｅｎｔ　ｆａｒ　ｌｅｓｓ　ｔｈａｎ　ｓｐｅｎｄｉｎｇ　ａｃｃｏｕｎ
ｔ．　Ｉｎ　２０１３－２０１４，　ｉｔ　ｗａｓ　－７００，０００，　ｉｎｄｉｃａｔｉｎｇ　ｔｈａｔ　ｔｈｅ　ｆｉｒｍ　ｄｉｄ　ｎｏｔ　ｐｒｏｐｅｒｌｙ　
ｐｌａｎ　ｆｏｒ　ｔｈｅ　ｃｏｎｔｒａｃｔｉｎｇ　ｃｏｍｐａｎｙ，　ｒｅｓｕｌｔｉｎｇ　ｉｎ　ａｎ　ｅｘｐｅｎｄｉｔｕｒｅｓ　ｍａｔｅｒｉａｌ　ｓｈｏｒ
ｔａｇｅ．
Ｄｉｆｆｅｒｅｎｃｅ　ａｍｏｎｇ　Ｐｒｏｊｅｃｔｅｄ　Ｉｎｃｏｍｅ　ａｎｄ　Ａｃｔｕａｌ　Ｉｎｃｏｍｅ：　Ｉｎ　２０１２－２０１３，　ｔｈｅ　ｄｉｓｃｒ
ｅｐａｎｃｙ　ｉｎ　Ｅｘｐｅｃｔｅｄ　Ｉｎｃｏｍｅ　ａｎｄ　Ｒｅａｌ　Ｉｎｃｏｍｅ　ｗａｓ　＋２００，０００，　ｉｎｄｉｃａｔｉｎｇ　ｔｈａｔ　ｔｈｅ　
ｆｉｒｍ　ｅａｒｎｅｄ　ｍｏｒｅ　ｍｏｎｅｙ　ｔｈａｎ　ａｎｔｉｃｉｐａｔｅｄ．　Ｉｎ　２０１３－２０１４，　ｉｔ　ｗａｓ　－２５０，０００，　ｉｎｄｉ
ｃａｔｉｎｇｔｈａｔ　ｔｈｅ　ｆｉｒｍ　ｄｉｄ　ｎｏｔ　ｐｒｏｐｅｒｌｙ　ｐｌａｎ　ｆｏｒ　ｉｔｓ　ｉｎｃｏｍｅ　ｓｔａｔｅｍｅｎｔ，　ｒｅｓｕｌｔｉｎ
ｇ　ｉｎ　ａ　ｒｅｖｅｎｕｅ　ｓｈｏｒｔｆａｌｌ．
Ｗｈａｔ　ｙｅａｒ　ｔｈｅ　ｗｏｒｋｅｄ　Ｄｉｒｅｃｔｌｙ　ｈａｖｅ　ａ　ｂａｄ　ｙｅａｒ　ａｎｄ　ｌｏｓｔ　ｍｏｎｅｙ？
Ｔｈｅ　ｆｉｒｍ　ｌｏｓｔ　￥６００，００　ｉｎ　ｔｈｅ　２０１３－２０１４　ｆｉｓｃａｌ　ｙｅａｒ．
Ｗｈｉｃｈ　ｙｅａｒ　ｃｏｎｄｕｃｔｅｄ　Ｂｕｓｉｎｅｓｓ　ｍａｋｅ　ｍｏｎｅｙ？
Ｔｈｅ　ｆｉｒｍ　ｇｅｎｅｒａｔｅｄ　ａ　ｒｅｖｅｎｕｅ　ｏｆ　￥６５０，０００　ｉｎ　２０１２－２０１３．

ACTIVITY 1b

1. Using your answer from the previous activity, explain how you would undertake research to
review the reasons for the profit or loss. Think about contributors of success, contributors
to losses and other factors.

Ｃｏｎｔｒｉｂｕｔｉｏｎｓ　ｔｏ　ｓｕｃｃｅｓｓ　ｉｎｃｌｕｄｅ：　
ｏ　Ｐｒｉｃｅ：　ａ　ｃｏｍｐｅｔｉｔｉｖｅ　ｐｒｉｃｅ　ｗｉｌｌ　ｅｎｔｉｃｅ　ｃｌｉｅｎｔｓ．　Ｈｏｗｅｖｅｒ，　ａ　ｃｈｅａｐ　ｐｒｉｃｅ　ｍａｙ　ｒｅｓｕｌｔ　ｉｎ　ｌｏｗｅｒ　ｉｎｃｏｍｅ．
ｏ　Ｐａｃｋａｇｉｎｇ：　ｐａｃｋａｇｉｎｇ　ｄｅｓｉｇｎ　ｔｈａｔ　ｉｓ　ａｌｓｏ　ｅｎｖｉｒｏｎｍｅｎｔａｌｌｙ　ｆｒｉｅｎｄｌｙ　ｗｉｌｌ　ｂｒｉｎｇ　ｔｏ　ｔｈｅ　ｂｕｓｉｎｅｓｓ　ａｎｄ　ｂｏ
ｏｓｔ　ｉｎｃｏｍｅ．　Ｐａｃｋａｇｉｎｇ　ｄｅｓｉｇｎ，　ｏｎ　ｔｈｅ　ｏｔｈｅｒ　ｈａｎｄ，　ｍａｙ　ｒｅｓｕｌｔ　ｉｎ　ａ　ｃｏｓｔ　ｒｉｓｅ．
ｏ　Ｐｕｒｃｈａｓｉｎｇ　ｐｒｏｃｅｓｓ：　ｉｆ　ｙｏｕ　ｈａｖｅ　ａ　ｓｔｒｏｎｇ　ｃｏｎｎｅｃｔｉｏｎ　ｗｉｔｈ　ｙｏｕｒ　ｓｕｐｐｌｉｅｒｓ，　ｙｏｕ　ｍｉｇｈｔ　ｂｅ　ａｂｌｅ　ｔｏ　ｇｅｔ　ｓ
ｏｍｅ　ｎｉｃｅ　ｂａｒｇａｉｎｓ．　Ｗｈｏｌｅｓａｌｅｒｓ　ｍａｙ　ｂｅ　ｔｏ　ｂｌａｍｅ　ｆｏｒ　ｔｈｅ　ｒｅｄｕｃｅｄ　ｐｒｉｃｉｎｇ．
ｏ　Ｐｒｏｄｕｃｔ／ｓｅｒｖｉｃｅ　ｑｕａｌｉｔｙ：　ｈｉｇｈ－ｑｕａｌｉｔｙ　ｉｔｅｍｓ　ｍａｙ　ｌｅａｄ　ｔｏ　ａ　ｒｉｓｅ　ｉｎ　ｉｎｃｏｍｅ．
ｏ　Ｐｒｏｄｕｃｔ／ｓｅｒｖｉｃｅ　ａｃｃｅｓｓｉｂｉｌｉｔｙ：　Ｃｏｎｓｕｍｅｒｓ　ｗｉｌｌ　ｂｅ　ｅａｇｅｒ　ｔｏ　ｂｕｙ　ｉｆ　ｉｔｅｍｓ　ａｒｅ　ａｖａｉｌａｂｌｅ　ａｌｌ　ｔｈｅ　ｔｉｍｅ．　
Ｃｏｎｔｒｉｂｕｔｉｏｎｓ　ｔｏ　ｔｈｅ　ｌｏｓｓ：　
ｏ　Ｅｘｃｅｓｓｉｖｅ　ｐｒｉｃｉｎｇ：　Ｅｘｃｅｓｓｉｖｅ　ｐｒｉｃｉｎｇ　ｍａｙ　ｒｅｓｕｌｔ　ｉｎ　ｔｈｅ　ｌｏｓｓ　ｏｆ　ｃｏｎｓｕｍｅｒｓ．
ｏ　Ｅｘｐｅｎｓｉｖｅ　ａｎｄ／ｏｒ　ｉｎｅｆｆｅｃｔｉｖｅ　ｐｕｒｃｈａｓｅ　ｐｒｏｃｅｄｕｒｅ：　Ｃｕｓｔｏｍｅｒｓ　ｍａｙ　ｆｉｎｄ　ｔｈｅ　ｐｒｏｃｅｓｓ　ｕｎｐｌｅａｓａｎｔ　ａｎｄ　ｄｅｃｉ
ｄｅ　ｎｏｔ　ｔｏ　ｐｕｒｃｈａｓｅ　ｔｈｅ　ｉｔｅｍｓ．
ｏ　Ｐｏｏｒ　ｑｕａｌｉｔｙ：　Ｃｏｎｓｕｍｅｒｓ　ｍａｙ　ｇｅｔ　ｕｎｓａｔｉｓｆｉｅｄ　ｗｉｔｈ　ｔｈｅ　ｉｔｅｍｓ　ａｎｄ　ｃｅａｓｅ　ｕｓｉｎｇ　ｔｈｅｍ．
ｏ　Ｉｆ　ｇｏｏｄｓ　ａｒｅ　ｕｎａｖａｉｌａｂｌｅ，　ｂｕｙｅｒｓ　ｗｉｌｌ　ｓｗｉｔｃｈ　ｔｏ　ａ　ｄｉｆｆｅｒｅｎｔ　ｂｒａｎｄ．
Ｏｔｈｅｒ　ｃｏｎｓｉｄｅｒａｔｉｏｎｓ：
ｏ　Ｉｆ　ａ　ｌｅｓｓ　ｅｘｐｅｎｓｉｖｅ　ｃｏｍｐｅｔｉｔｏｒ　ｌａｕｎｃｈｅｓ，　ｔｈｅ　ｂｕｓｉｎｅｓｓ＇ｓ　ｃｕｓｔｏｍｅｒ　ｂａｓｅ　ｍａｙ　ｂｅ　ｔａｋｅｎ　ａｗａｙ．
ｏ　Ｔｈｅ　ｆｉｒｍ　ｈａｓ　ｇｏｔｔｅｎ　ｎｅｇａｔｉｖｅ　ｍｅｄｉａ　ａｔｔｅｎｔｉｏｎ，　ａｎｄ　ｔｈｅ　ｂｏｙｃｏｔｔｉｎｇ　ｍａｙ　ｈａｒｍ　ｔｈｅ　ｐｕｂｌｉｃ　ｒｅｐｕｔａｔｉｏｎ，　ｄｕ
ｅ　ｔｏ　ｌｏｓｓ　ｏｆ　ｓａｔｉｓｆｉｅｄ　ｃｕｓｔｏｍｅｒｓ．
ｏ　Ｔｈｅ　ｃｏｒｐｏｒａｔｅ　ｈｅａｄｑｕａｒｔｅｒｓ　ｗｅｒｅ　ｒｅｎｄｅｒｅｄ　ｕｓｅｌｅｓｓ；　Ｖｉｒｕｓ：　Ｃｏｎｓｕｍｅｒｓ　ｍａｙ　ｂｅｃｏｍｅ　ｆｅａｒｆｕｌ　ａｎｄ　ｓｅｅｋ　ｒｅｆｕ
ｇｅ　ｅｌｓｅｗｈｅｒｅ．
Ｓｏｕｒｃｅ：　Ｃｏｌｌｉｓ，　Ｊ．　ａｎｄ　Ｈｏｌｔ，　Ａ．，　２０１７．　Ｂｕｓｉｎｅｓｓ　Ａｃｃｏｕｎｔｉｎｇ．　３ｒｄ　ｅｄ．　ＵＫ：　
ＰＡＬＧＲＡＶＥ，　ｐｐ．５６３－５６４．

3 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

ACTIVITY 1c

1. Using your business plan, identify your business’ critical dates in terms of income and
resource use and generation. Think about seasonality and other contributing factors.
Ｍｙ　ｃｏｍｐａｎｙ　ｉｓ　ａ　ｃｌｏｔｈｅｓ　ｒｅｔａｉｌｅｒ．　Ｐｏｐｕｌａｒ　ｓｅａｓｏｎｓ　ｉｎｃｌｕｄｅ：　
－　Ｂｌａｃｋ　Ｆｒｉｄａｙ，　ｗｈｉｃｈ　ｉｓ　ｂａｓｅｄ　ｏｎ　ａｎ　Ａｍｅｒｉｃａｎ　ｃｕｓｔｏｍ．　Ｔｈｉｓ　ｒｅａｌｌｙ　ｉｓ　ｔｈｅ　Ｆｒｉｄａｙ　ａｆｔｅｒ　Ｔｈａｎｋ
ｓｇｉｖｉｎｇ，　ｗｈｅｎ　ｍａｊｏｒ　ｓｔｏｒｅｓ　ｌｏｗｅｒ　ｔｈｅｉｒ　ｐｒｉｃｅｓ　ｉｎｔｅｒｎｅｔ　ａｎｄ　ｉｎ－ｓｔｏｒｅ，　ｒｅｓｕｌｔｉｎｇ　ｉｎ　ａ　ｙｅａｒｌｙ　
ｃａｐｉｔａｌ　ａｐｐｒｅｃｉａｔｉｏｎ　ｔｈａｔ　ｃａｎ　ｃｏｎｔｉｎｕｅ　ｔｈｅ　ｅｎｔｉｒｅ　ｗｅｅｋｅｎｄｓ．
－　Ｅｎｄ　ｏｆ　ｆｉｎａｎｃｉａｌ　ｙｅａｒ　ｓａｌｅｓ　（ＥＯＦＹＳ）：　ｗｈｅｎ　ｒｅｔａｉｌｅｒｓ　ｓｅｌｌ　ｏｆｆ　ｅｘｉｓｔｉｎｇ　ｉｎｖｅｎｔｏｒｙ　ｂｅｆｏｒｅ　ｒｅ
ｃｅｉｖｉｎｇ　ｎｅｗ　ｉｎｖｅｎｔｏｒｙ　（ａｒｏｕｎｄ　ｔｈｅ　ｍｏｎｔｈ　ｏｆ　Ｊｕｎｅ）．
－　Ｂｏｘｉｎｇ　Ｄａｙ：　Ｃｏｎｓｕｍｅｒｓ　ｇａｔｈｅｒ　ｔｏ　ｂｕｙ　ｒｅｄｕｃｅｄ　ｐｒｏｄｕｃｔｓ　ａｆｔｅｒ　Ｓａｎｔａ　ｄｕｒｉｎｇ　ｔｈｅ　Ｃｈｒｉｓｔｍａｓ　Ｗｅｅ
ｋ　ａｎｄ　ｄｉｓｃｏｕｎｔｓ，　ｗｈｉｃｈ　ａｒｅ　ｐａｒｔｓ　ｏｆ　ｔｈｅ　Ｆｉｎａｎｃｉａｌ　ｙｅａｒ　ｏｆ　２０１８．　Ｔｈｅ　ｇｏａｌｓ　ｆｏｒ　ｔｈｅ　ｃｏｍｉｎｇ　ｏｆ
　ｔｈｅ　ｙｅａｒ　ｗｏｕｌｄ　ｂｅ　ｔｙｐｉｃａｌｌｙ　ｓｔａｂｌｅ．
Ｄｕｒｉｎｇ　ｔｈｉｓ　ｔｉｍｅ，　ｔｈｅ　ｄｅｍａｎｄｓ　ａｎｄ　ｃａｐａｂｉｌｉｔｉｅｓ　ｓｈｉｆｔ．
Ｂａｓｅｄ　ｏｎ　ｔｈｅ　ｐｒｅｖｉｏｕｓ　ｙｅａｒｓ＇　ｄａｔａ，　ｗｅ　ｎｅｅｄ　ｔｏ　ｃｏｎｄｕｃｔ　ｔｈｅ　ｆｏｌｌｏｗ　ａｓ　ａ　ｃｏｍｍｅｒｃｉａｌ　ｅｎｔｅｒｐｒｉｓｅ
：　
－Ｓｅａｓｏｎａｌ　ｃｈａｎｇｅｓ　ｓｕｉｔａｂｌｅ　ｐｒｏｄｕｃｔｓ　ａｒｅ　ｂｏｕｇｈｔ　ｉｎ　ａｄｖａｎｃｅｄ　ｔｏ　ｇｕａｒａｎｔｅｅ　ｓａｆｅｔｙ　ｉｎｖｅｎｔｏｒｙ，　ｂ
ｕｔ　ｗｅ＇ｌｌ　ｈａｖｅ　ｍｅｒｃｈａｎｄｉｓｅ　ａｖａｉｌａｂｌｅ　ｆｏｒ　ｓａｌｅ　ａｔ　ｔｈｉｓ　ｔｉｍｅ．
－Ａｎｄ　ｄｕｒｉｎｇ　ｔｈｉｓ　ｐｅｒｉｏｄ，　ｈｉｒｅ　ａｄｄｉｔｉｏｎａｌ　ｃｏｍｐｏｎｅｎｔ　ｓｔａｆｆ　ｔｏ　ｇｕａｒａｎｔｅｅ　ａｍｐｌｅ　ｆｕｎｄｉｎｇ．
－Ａｒｒａｎｇｅ　ｆｏｒ　ａ　ｒｅａｓｏｎａｂｌｅ　ｈｅａｖｙ　ｄｉｓｃｏｕｎｔ　ｓｏ　ｔｈａｔ　ｗｅ　ｗｏｕｌｄ　ｓｔａｙ　ｗｉｔｈｉｎ　ｏｕｒ　ａｎｔｉｃｉｐａｔｅｄ　ｉｎｃｏｍ
ｅ　ａｎｄ　ａｖｏｉｄ　ｌｏｓｉｎｇ　ｍｏｎｅｙ．

ACTIVITY 1d

1. Explain 3 aspects on how and why you would analyse your business’ cash flow trends

HOW WHY
Ａｃｃｏｒｄｉｎｇ　ｔｏ　ａ　ｃａｓｈ　ｆｌｏｗ　ｓｔｕｄｙ，　ｔｈｅ　ｔｒａｎｓｆ Ｔｈｅ　ｍａｒｋｅｔ　ｉｓ　ｂｏｏｍｉｎｇ，　ｗｉｔｈ　ｉｎｃｒｅａｓｉｎｇ　ｄｅｍａｎｄ　ｆ
ｅｒｓ　ｈｅｒｅ　ｂｅｔｗｅｅｎ　ｐｒｅｖｉｏｕｓ　ｙｅａｒ　２０１９　ａｎｄ　ｔｈ ｏｒ　ｉｎ－ｓｔｏｒｅ　ｐｕｒｃｈａｓｅｓ　ｌｅａｄｉｎｇ　ｔｏ　ｉｎｃｒｅａｓｅｄ　ｉｎ－ｓ
ｅ　ｐｒｉｏｒ　ｙｅａｒ　２０１８； ｔｏｒｅ　ｓａｌｅｓ　ｒｅｖｅｎｕｅｓ．　Ｎｅｖｅｒｔｈｅｌｅｓｓ，　ｔｈｅ　ｕｐｄａｔｅｄ　
Ｒｅｃｅｉｐｔｓ　ｆｏｒ　ｉｎ－ｓｔｏｒｅ　ｐｕｒｃｈａｓｅｓ：　＋￥２９，０００　 ｃａｔａｌｏｇ　ｄｒａｗｓ　ａ　ｌａｒｇｅ　ｎｕｍｂｅｒ　ｏｆ　ｂｕｙｅｒｓ　ｏｗｉｎｇ　ｔｏ
ｉｎ　ｃｈａｎｇｅ 　ｉｔｓ　ｌｏｗ　ｐｒｉｃｅ　ａｎｄ　ｇｏｏｄ　ｗｏｒｋｍａｎｓｈｉｐ，　ｒｅｓｕｌｔｉｎｇ　
Ｒｅｃｅｉｐｔｓ　ｆｏｒ　Ｃａｔａｌｏｇｕｅ　Ｐｕｒｃｈａｓｅｓ：　＋￥１０，０００ ｉｎ　ｈｉｇｈｅｒ　ｂｒｏｃｈｕｒｅ　ｔｏｔａｌ　ｓａｌｅｓ．　Ｆｕｒｔｈｅｒｍｏｒｅ，　ｂｅ
　ｉｎ　ｃｈａｎｇｅ ｇｉｎｎｉｎｇ　ｔｈｉｓ　ｙｅａｒ，　ｔｈｅ　ｐｅｏｐｌｅ　ｉｎｖｅｓｔｉｎｇ　ｈａｓ　ｄｅｃ
Ｉｎｃｒｅａｓｅ　ｉｎ　Ｉｎｖｅｓｔｍｅｎｔ　Ｇａｉｎｓ：　－￥５，０００ ｒｅａｓｅｄ，　ｉｎｄｉｃａｔｉｎｇ　ｔｈａｔ　ｆｅｗｅｒ　ｓｈａｒｅｈｏｌｄｅｒｓ　ａｒｅ　
ｉｎｖｏｌｖｅｄ　ｉｎ　ｔｈｅ　ｆｉｒｍ．
Ｏｕｔｆｌｏｗｓ　ｆｒｏｍ　ｔｈｅ　ｐｒｅｖｉｏｕｓ　ｙｅａｒ　２０１９　ｔｏ　ｔｈ Ｔｈｅ　ｏｖｅｒｈｅａｄ　ｅｘｐｅｎｓｅｓ　ｈａｖｅ　ｉｎｃｒｅａｓｅｄ　ａｓ　ｔｈｅ　ｆｉｒ
ｅ　ｐｒｅｖｉｏｕｓ　ｙｅａｒ　２０１８； ｍ　ｒｅｃｒｕｉｔｓ　ｕｎｎｅｃｅｓｓａｒｙ　ｃｏｎｔｅｎｔ　ｅｍｐｌｏｙｅｅｓ．　Ｈｏｗｅｖ
Ｐｕｒｃｈａｓｅｄ　Ｐｒｏｄｕｃｔｓ　Ｐａｙ：　Ｃｈａｎｇｅ：　＋￥３９，０００　Ｇ ｅｒ，　ａｓ　ｓａｌｅｓ　ｇｒｏｗｔｈ，　ｔｈｅ　ｃｏｓｔ　ｏｆ　ｐｒｏｄｕｃｔｓ　ｓｕｐｐｌ
ｅｎｅｒａｌ　ａｎｄ　ａｄｍｉｎｉｓｔｒａｔｉｖｅ　ｓａｌｅｓ：　Ｃｈａｎｇｅ：　＋ ｉｅｄ　ｒｉｓｅｓ　ｉｎ　ｌｏｃｋｓｔｅｐ．　Ｆｕｒｔｈｅｒｍｏｒｅ，　ｔｈｅ　ｆｉｒｍ　ｐｕ
１８，０００ ｒｃｈａｓｅｓ　ｔｗｏ　ａｄｄｉｔｉｏｎａｌ　ｔｏｏｌｓ　ａｎｄ　ｅｑｕｉｐｍｅｎｔ　ｔｈｉｓ
Ｔａｘｅｓ　ａｒｅ　ａ　ｔｙｐｅ　ｏｆ　ｌｅｖｙ　ｔｈａｔ　ｉｓ　ｉｍｐｏｓｅｄ　ｏ 　ｙｅａｒ，　ｒｅｓｕｌｔｉｎｇ　ｉｎ　ｈｉｇｈｅｒ　ｉｎ　ｓｔｒｕｃｔｕｒｅ　ａｎｄ　ｍａｔ
ｎ　ａ　ｐｅｒｓｏｎ　＋￥３，０００　ｉｎ　ｃｈａｎｇｅ ｅｒｉａｌ　ｅｘｐｅｎｓｅｓ．　Ｆｕｒｔｈｅｒｍｏｒｅ，　ｂｅｃａｕｓｅ　ｔｈｅ　ｆｉｒｍ　ｍ
Ｃｈａｎｇｅｓ　ｔｏ　ｔｈｅ　ｐｌａｎｔ　ａｎｄ　ｍａｃｈｉｎｅｒｙ：　＋￥４，００ ａｋｅｓ　ｍｏｒｅ　ｉｎｃｏｍｅ　ｔｈｉｓ　ｙｅａｒ，　ｔｈｅ　ｔａｘ　ｅｘｐｅｎｄｉｔｕｒｅ
０ 　ｗｉｌｌ　ｒｉｓｅ　ａｓ　ｗｅｌｌ．
Ｃｈａｎｇｅ　ｉｎ　ｉｎｖｅｓｔｍｅｎｔ　ｐｏｒｔｆｏｌｉｏ　ｆｒｏｍ Ｔｈｉｓ　ｙｅａｒ，　ｔｈｅ　ｆｉｒｍ　ｐａｙｓ　ｏｕｔ　ｍｏｒｅ　ｄｉｓｐｅ
　ｔｈｅ　ｐｒｅｖｉｏｕｓ　ｙｅａｒ　２０１９　ｔｏ　ｔｈｅ　ｐｒｅｖ ｒｓｅｄ　ｅａｒｎｉｎｇｓ　ｔｏ　ｓｈａｒｅｈｏｌｄｅｒｓ　ｔｈａｎ　ｐｒｅｖ
ｉｏｕｓ　ｙｅａｒ　２０１８：　－￥２９，０００ ｉｏｕｓ　ｙｅａｒ，　ｒｅｓｕｌｔｉｎｇ　ｉｎ　ａ　ｌｏｗｅｒ　ｉｎｃｒｅａｓ
ｅ　ｉｎ　ｉｎｖｅｓｔｍｅｎｔ　ｐｏｒｔｆｏｌｉｏ　ｔｈａｎ　ｌａｓｔ　ｙｅａ
Ｓｏｕｒｃｅ：　Ｅｌｌｉｏｔｔ，　Ｂ．，　１９８０．　Ｂｕｓｉｎｅｓｓ ｒ．
　Ａｃｃｏｕｎｔｉｎｇ．　Ｌｏｎｄｏｎ，　ＨＦＬ．

4 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

ACTIVITY 1e

1. Explain three types of taxesＣｏｍｐａｎｙ　ｔａｘ　ｉｓ　ｐｒｅｓｅｎｔｌｙ　ｆｉｘｅｄ　ａｔ　ａ　ｆｉｘｅｄ　ａｍｏｕｎｔ

that are applied to your business? including the rates and
　ｏｆ　３０％　ａｎｄ　ｉｓ　ｉｍｐｏｓｅｄ　ａｔ　ｔｈｅ　ｏｒｇａｎｉｚａｔｉｏｎａｌ　ｌｅｖ
geographical variations, if applicable.
ｅｌ　（Ｄｅｃｅｍｂｅｒ　２０１４）．　Ｔｈｅ　Ａｕｓｔｒａｌｉａｎ　Ｔａｘａｔｉｏｎ　Ｏｆｆｉ
Ｔｈｅ　ＧＳＴ　（Ｐｒｏｄｕｃｔｓ　ａｎｄ　Ｓｅｒｖｉｃｅｓ　Ｔａｘ）　ｉｓ　ａ　ｆｅｄｅｒａｌ
1 Ｃｏｍｐａｎｙ　Ｔａｘ ｃｅ　（ＡＴＯ）　ｈａｓ　ａ　ｃｏｍｐｒｅｈｅｎｓｉｖｅ　ｗｅｂｐａｇｅ　ｔｈａｔ　ｃｏｖｅｒｓ
　ｔａｘ　ｔｈａｔ　ｉｓ　ｉｍｐｏｓｅｄ　ｏｎ　ａ　ｗｉｄｅ　ｓｐｅｃｔｒｕｍ　ｏｆ　ｕｓｅｒｓ
　ｂｕｓｉｎｅｓｓ　ｔａｘ　ｉｎ　ｇｒｅａｔ　ｄｅｔａｉｌ．　Ｔｈｅ　ｐｒｉｍａｒｙ　ｍｅｄｉｕ
　ｉｎ　Ａｕｓｔｒａｌｉａ．　Ｔｈｅ　ｐｒｅｓｅｎｔ　ｐｒｉｃｅ　ｉｓ　ｔｅｎ　ｐｅｒｃｅｎｔ　
ｍ　ａｔ　ｔｈｅ　ｃｏｎｃｌｕｓｉｏｎ　ｏｆ　ｔｈｉｓ　Ｌｅａｒｎｅｒ　Ｇｕｉｄｅ　ｉｎｃｌｕｄ
（ａｓ　ｏｆ　Ｄｅｃｅｍｂｅｒ　２０１４）．　Ｔｈｅ　Ａｕｓｔｒａｌｉａｎ　Ｔａｘａｔｉｏｎ　Ｏ
ｅｓ　ａ　ｌｉｎｋ　ｔｏ　ｔｈｅ　ｏｆｆｉｃｉａｌ　ｗｅｂｓｉｔｅ．
ｆｆｉｃｅ　（ＡＴＯ）　ｈａｓ　ａｎ　ａｃｃｏｍｐａｎｉｅｄ　ｂｙ　ｉｎｃｒｅａｓｉｎｇ　ｔｈａ
2 Ｐａｙｒｏｌｌ　Ｔａｘ ｔ　ｃｏｖｅｒｓ　ａｌｌ　ａｓｐｅｃｔｓ　ｏｆ　ｂｕｓｉｎｅｓｓ　ｔａｘａｔｉｏｎ．　Ｔｈｅ　ｓ
Ｗｏｒｋｅｒｓ　ｐａｙ　ｔｈｅ　ｐａｙｒｏｌｌ　ｔａｘ　ｏｎ　ｔｈｅｉｒ　ｗｏｒｋｅｒｓ＇　ｅａｒ
ｏｕｒｃｅｓ　ｐｏｒｔｉｏｎ　ａｔ　ｔｈｅ　ｃｏｎｃｌｕｓｉｏｎ　ｏｆ　ｔｈｉｓ　Ｌｅａｒｎｅｒ
ｎｉｎｇｓ．　Ｐａｙｒｏｌｌ　ｔａｘ　ｉｓ　ｃａｌｃｕｌａｔｅｄ　ｄｅｐｅｎｄｉｎｇ　ｏｎ　ａ　ｇ
　Ｇｕｉｄｅ　ｉｎｃｌｕｄｅｓ　ａ　ｌｉｎｋ　ｔｏ　ｔｈｅ　ａｐｐｒｏｐｒｉａｔｅ　ｗｅｂｓｉｔ
ｒｏｓｓ　ｓａｌａｒｙ　ａｎｄ　ｌｏｃａｌｉｔｙ．　Ｔｈｅ　ｃｏｒｐｏｒａｔｅ　ｐｏｒｔａｌ　ｏｆ
ｅ．
ｔｈｅ　Ａｕｓｔｒａｌｉａｎ　ｇｏｖｅｒｎｍｅｎｔ．
Ｓｏｕｒｃｅ：　ＡＴＯ，　２０１６．　ＡＴＯ　Ｔａｘ　Ｃａｌｃｕｌａｔｏｒ：　２０１５－２０１６
3 Ｇｏｏｄｓ　ａｎｄ　Ｓｅｒｖｉｃｅｓ　Ｔ Ｔａｘ　Ｒａｔｅｓ．　［ｏｎｌｉｎｅ］　
ａｘ　（ＧＳＴ） Ａｔｏｔａｘｃａｌｃｕｌａｔｏｒ．ｃｏｍ．ａｕ．　Ａｖａｉｌａｂｌｅ　ａｔ：　＜ｈｔｔｐ：／／ａ
ｔｏｔａｘｃａｌｃｕｌａｔｏｒ．ｃｏｍ．ａｕ／＞　［Ａｃｃｅｓｓｅｄ　
６　Ｍａｙ　２０２０］．
ACTIVITY 1f

1. Give 2 pro’s and 2 cons of financial software in your business environment

Pro’s
1 Ｉｔ　ｉｓ　ｓｉｍｐｌｅ　ｔｏ　ｕｓｅ，　ｆｕｌｆｉｌｓ　ｙｏ
ｕｒ　ｒｅｑｕｉｒｅｍｅｎｔｓ，　ａｎｄ　ｉｓ　ｓｕｐｅｒｉｏ
ｒ　ｔｏ　ｙｏｕｒ　ｐｒｅｓｅｎｔ　ｐｒｏｇｒａｍｍｅ．　Ｉｔ
ｉｓ　ｗｅｌｌ　ｗｏｒｔｈｗｈｉｌｅ．
Con’s
Ａｄｄｉｔｉｏｎｓ　ａｎｄ　ｒｅｎｏｖａｔｉｏｎｓ　ａｒｅ　ｃｏｓｔｌｙ．　
Ｔｈｅｙ　ａｒｅ　ｎｏｗ　ｏｕｔ　ｏｆ　ｃｕｒｒｅｎｔ，　ｉｎｓｕｆｆｉｃｉ
ｅｎｔ，　ａｎｄ　ｗｉｌｌ　ｎｏｔ　ｂｅ　ｒｅｆｒｅｓｈｅｄ　ｏｒ　ｓｕｐｐ
ｏｒｔｅｄ．

2 Ｐｒｅｓｅｎｔ　ｒｅｑｕｉｒｅｍｅｎｔｓ：　ｙｅｓ，　ｂｅｃａ Ｆｕｔｕｒｅ：　Ｎｏ，　ｂｅｃａｕｓｅ　ｍａｉｎｔｅｎａｎｃｅ　ａｎｄ　ｉｍ
ｕｓｅ　ｉｔ　ａｓｓｉｓｔｓ　ｍｅ　ｉｎ　ｓｔａｙｉｎｇ　ｏｎ ｐｒｏｖｅｍｅｎｔｓ　ｍｕｓｔ　ｌａｓｔ　ａ　ｌｏｎｇ　ｔｉｍｅ　ａｎｄ　ｃ
　ｔｏｐ　ｏｆ　ｍｙ　ｌａｂｏｒ　ａｎｄ　ｉｓ　ａ　ｒｅａｓｏ ｏｓｔ　ａ　ｌｏｔ　ｏｆ　ｍｏｎｅｙ．
ｎａｂｌｅ　ｃｏｓｔ　ｆｏｒ　ｓｏｍｅｏｎｅ　ｌｉｋｅ　ｍｅ　
ｔｏ　ｐｕｒｃｈａｓｅ．
ACTIVITY 2a

1. Give an example of how you could use previous financial data to determine the allocation of
resources.
Explain the figures and how you would allocate resources accordingly
Ｉｎ　ａ　ｂａｒ，　ｓｅｒｖｉｃｅ　ｉｓ　ｐｒｏｖｉｄｅｄ．
ｏ　Ｈｕｍａｎ　ｒｅｓｏｕｒｃｅｓ　ａｒｅ　ａ　ｒｅｓｏｕｒｃｅ．
Ｔｈｅ　ｂａｒｔｅｎｄｅｒｓ　ｈａｖｅ　ａｌｓｏ　ｂｅｅｎ　ｍｏａｎｉｎｇ　ａｂｏｕｔ　ｂｅｉｎｇ　ｏｖｅｒｗｏｒｋｅｄ，　ｄｅｓｐｉｔｅ　ｔｈｅ　ｆａｃｔ　ｔｈａｔ　ｔｈｅｒｅ　ｒｅａｌｌｙ　ａｒｅ　ｔｈｒｅｅ　ｏｆ　ｔｈｅｍ
　ｓｅｒｖｉｎｇ　ｏｎ　ａ　ｇｉｖｅｎ　ｎｉｇｈｔ．
Ｔｈｅ　ｆｏｌｌｏｗｉｎｇ　ｐｏｉｎｔｓ　ｓｈｏｕｌｄ　ｂｅ　ｔａｋｅｎ　ｉｎｔｏ　ａｃｃｏｕｎｔ：　
Ｔｈｅ　ｂａｒ　ｍａｙ　ｇｅｔ　ｆｉｖｅ－ｄｅｅｐ　ａｌｌ　ｔｈｅ　ｗａｙ　ａｂｏｕｔ　ｗｉｔｈ　ｃｕｓｔｏｍｅｒｓ　ｓｈｏｕｔｉｎｇ　ｆｏｒ　ｓｅｒｖｉｃｅ，　ｄｅｓｐｉｔｅ　ｔｈｅ　ｆａｃｔ　ｔｈａｔ　ｔｈｅｒｅ　ａｒｅ　ｏ
ｎｌｙ　ｔｈｒｅｅ　ｅｍｐｌｏｙｅｅｓ．　Ｔｈｉｓ　ｉｓ　ｄｕｅ　ｔｏ　ｔｈｅ　ｆａｃｔ　ｔｈａｔ　ｍｉｘｉｎｇ　ｄｒｉｎｋｓ　ａｎｄ　ｐｏｕｒｉｎｇ　ｈｅａｖｙ　ｒｅｑｕｉｒｅｓ　ａ　ｌｏｎｇ　ｔｉｍｅ．　Ｗｈｉｌｅ　ｅｍｐｌ
ｏｙｅｅｓ　ａｒｅ　ｏｃｃｕｐｉｅｄ　ｍａｋｉｎｇ　ｂｅｖｅｒａｇｅｓ，　ａｎ　ｅｘｔｒａ　ｓｅｔ　ｏｆ　ａｒｍｓ　ｗｉｌｌ　ａｓｓｉｓｔ　ｋｅｅｐ　ｔｈｉｎｇｓ　ｍｏｖｉｎｇ．

Ｕｎｄｅｒ－ａｌｌｏｃａｔｉｏｎ　ｏｆ　ｒｅｓｏｕｒｃｅｓ：　ｅｍｐｌｏｙｅｅｓ　ａｒｅ　ｏｖｅｒｗｏｒｋｅｄ　ａｎｄ　ｕｎａｂｌｅ　ｔｏ　ｓｅｒｖｅ　ｔｈｅ　ｃｕｓｔｏｍｅｒ　ｑｕｉｃｋｌｙ　ｅｎｏｕｇｈ，　ｒｅｓｕｌｔｉｎｇ
　ｉｎ　ｄｉｓｓａｔｉｓｆａｃｔｉｏｎ　ａｍｏｎｇ　ｂｏｔｈ　ｃｏｎｓｕｍｅｒｓ　ａｎｄ　ｅｍｐｌｏｙｅｅｓ．　Ｗｏｒｋｅｒｓ　ｗｉｌｌ　ｂｅ　ｕｎｄｅｒ　ａ　ｌｏｔ　ｏｆ　ｐｒｅｓｓｕｒｅ，　ｗｈｉｃｈ　ｒｅｓｕｌｔｓ　ｉｎ　
ａ　ｌｏｔ　ｏｆ　ｆｌｕｃｔｕａｔｉｏｎ，　ｗｈｉｃｈ　ｓｐｅｎｄｓ　ｃａｓｈ　ａｎｄ　ｅｆｆｏｒｔ　ｏｎ　ｒｅｔｒａｉｎｉｎｇ．
Ｏｖｅｒ－ａｌｌｏｃａｔｉｏｎ　ｏｆ　ａｓｓｅｔｓ：　ｍａｙｂｅ　ｔｈｅｒｅ　ａｒｅ　ｊｕｓｔ　ｓｏ　ｍａｎｙ　ｅｍｐｌｏｙｅｅｓ，　ｂｏｒｅｄ　ｅｍｐｌｏｙｅｅｓ　ｍａｙ　ｌｏｕｎｇｅ　ａｂｏｕｔ　ｔｈｅ　ｂａｒ，　ｏｂｓｔｒ
ｕｃｔｉｎｇ　ｓｅｒｖｉｃｅ．　Ｃｏｎｓｕｍｅｒｓ　ｍａｙ　ｃｏｎｃｌｕｄｅ　ｔｈａｔ　ｔｈｅ　ｐｕｂ　ｉｓ　ａｌｓｏ　ｎｏｔ　ａｓ　ｃｒｏｗｄｅｄ　ａｓ　ｉｔ　ｗａｓ　ａｎｄ　ｔｈａｔ　ｉｔ　ｈａｓ　ｂｅｅｎ　ｂａｄｌｙ　ｈａ
ｎｄｌｅｄ　ａｓ　ａ　ｒｅｓｕｌｔ　ｏｆ　ｔｈｉｓ．

Ｆｉｎａｎｃｉａｌ　ｒｅｃｏｒｄｓ　ｆｒｏｍ　ｔｈｅ　ｐａｓｔ　ｍａｙ　ｓｈｏｗ　ｔｈａｔ　ｔｈｅｒｅ　ｗａｓ　ａ；
１．　Ｔｈｅｒｅ　ｉｓ　ａ　ｌｏｔ　ｏｆ　ｐｅｒｓｏｎｎｅｌ　ｔｕｒｎｏｖｅｒ：　ＳＯＬＵＴＩＯＮ：　Ｆｉｇｕｒｅ　ｏｕｔ　ｗｈｙ　ｔｈｅｙ＇ｒｅ　ｏｎ　ｌｅａｖｅ．
Ｇｉｖｅ　ｔｈｅｍ　ｅｘｔｒａ　ｍｏｔｉｖａｔｉｏｎ　ｔｏ　ｉｎｃｒｅａｓｅ　ｔｈｅｍ　ｍｏｔｉｖａｔｅｄ．　Ｏｒｇａｎｉｚｅ　ｂｏｎｄｉｎｇ　ａｃｔｉｖｉｔｉｅｓ．
２．　Ａｎ　ｉｎｃｒｅａｓｅ　ｉｎ　ｔｈｅ　ｎｕｍｂｅｒ　ｏｆ　ｓｉｃｋ　ｄａｙｓ　ｔａｋｅｎ．　ＳＯＬＵＴＩＯＮ：　Ｌｉｍｉｔ　ｓｉｃｋ　ｄａｙｓ　ｔｏ　ａ　ｔｏｔａｌ　ｏｆ　ｆｏｕｒ　ｐｅｒ　ｍｏｎｔｈ，　ａｎｄ　ｍｏｔｉｖ
ａｔｅ　ｔｈｅ　ｅｍｐｌｏｙｅｅｓ　ｔｏ　ｗｏｒｋ　ｗｉｔｈｏｕｔ　ｔａｋｉｎｇ　ｓｉｃｋ　ｄａｙｓ　ｂｙ　ｇｉｖｉｎｇ　ｔｈｅｍ　ｅｘｔｒａ　ｐｒｅｓｅｎｔｓ　ａｎｄ　ｉｎｃｅｎｔｉｖｅｓ．
３．　Ｐｒｏｄｕｃｔ　ｑｕａｌｉｔｙ　ＳＯＬＵＴＩＯＮ：　Ｒｅｃｏｇｎｉｚｅ　ｔｈｅ　ｃａｕｓｅｓ　ａｎｄ　ｐｉｎｐｏｉｎｔ　ｗｈｉｃｈ　ｅｍｐｌｏｙｅｅｓ　ａｒｅ　ｈａｖｉｎｇ　ｉｓｓｕｅｓ．　Ａｐｏｌｏｇｉｚｅ　ｔｏ　ｔｈｅ
　ｃｌｉｅｎｔｓ　ａｎｄ　ｈａｖｅ　ａ　ｃｏｎｖｅｒｓａｔｉｏｎ　ｗｉｔｈ　ｔｈｅ　ｅｍｐｌｏｙｅｅｓ．
４．　Ｆａｉｌｕｒｅ　ｔｏ　ｆｕｌｆｉｌ　ｉｎｃｏｍｅ　ｏｂｊｅｃｔｉｖｅｓ　ＳＯＬＵＴＩＯＮ：　Ｄｅｔｅｒｍｉｎｅ　ｗｈｅｔｈｅｒ　ｔｈｅ　ｐｒｏｂｌｅｍ　ｓｔｅｍｓ　ｆｒｏｍ　ｔｈｅ　ｍａｒｋｅｔｐｌａｃｅ　ｏｒ　ｆｒｏｍ　
ｗｉｔｈｉｎ　ｔｈｅ　ｆｉｒｍ．　Ｉｎｃｒｅａｓｅ　ｒｅｖｅｎｕｅ　ｂｙ　ｅｎｈａｎｃｉｎｇ　ｔｈｅ　ｌｅｖｅｌ　ａｎｄ　ｌａｕｎｃｈｉｎｇ　ａ　ｍａｒｋｅｔｉｎｇ　ｅｆｆｏｒｔ．

5 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

ACTIVITY 2b

1. Identify a new item you could add to the budget in your business. Estimate the costs of the new
item and how it would be included in the budget.
You need to estimate both upfront and ongoing costs.
Ｆｏｒ　ｅｘａｍｐｌｅｓ，　ｉｆ　ｙｏｕ　ｎｅｅｄｓ　ｔｏ　ｐｕｒｃｈａｓｅ　ａｎ　ａｕｔｏｍｏｂｉｌｅ　ｆｏｒ　ｙｏｕｒ　ｃｏｍｐａｎｙ，　ｙｏｕ＇ｄ
　ｈａｖｅ　ｔｏ　ｂｕｄｇｅｔ　ｆｏｒ：　
ｔｈｅ　ｏｒｉｇｉｎａｌ　ｉｎｖｅｓｔｍｅｎｔ　ｏｆ　￥４０，０００；　
ｔｈｅ　ｏｎｇｏｉｎｇ　ｍａｉｎｔｅｎａｎｃｅ　ｏｆ　ｔｈｅ　ｖｅｈｉｃｌｅ；　
ａｎｄ　ｔｈｅ　ｏｎｇｏｉｎｇ　ｍａｉｎｔｅｎａｎｃｅ　ｏｆ　ｔｈｅ　ｖｅｈｉｃｌｅ．
Ｔａｘｅｓ　ｍｕｓｔ　ｂｅ　ｐａｉｄ：　￥５，０００
Ｆｕｅｌ　ｃｏｓｔｓ　￥１５，０００　ｐｅｒ　ｙｅａｒ．
￥５，０００　ｉｎ　ａｎｎｕａｌ　ｃｏｍｍｏｄｉｔｉｅｓ，　ｉｎｃｌｕｄｉｎｇ　ｓｕｃｈ　ｔｙｒｅｓ．
Ａｎｎｕａｌ　Ｓｅｒｖｉｃｉｎｇ　￥５，０００．　Ａｎｎｕａｌ　Ｕｐｇｒａｄｅｓ　Ｒｅｑｕｉｒｅｄ．　￥６，０００．
Ｙｏｕ＇ｄ　ｈａｖｅ　ｔｏ　ａｌｌｏｃａｔｅ　￥４５，０００　ｆｏｒ　ｔｈｅ　ｕｐｆｒｏｎｔ　ｉｎｖｅｓｔｍｅｎｔ，　ａｓ　ｗｅｌｌ　ａｓ　￥３１，００
０　ｆｏｒ　ｃｏｎｔｉｎｕｉｎｇ　ｃａｒ　ｏｐｅｒａｔｉｎｇ　ｃｏｓｔｓ，　ｗｈｉｃｈ　ｈａｓ　ｔｏ　ｂｅ　ｉｎｃｏｒｐｏｒａｔｅｄ　ｉｎｔｏ　ｄｅｐａ
ｒｔｍｅｎｔａｌ　ｓｐｅｎｄｉｎｇ．

ACTIVITY 2c

1. Give 5 examples of the organisational policies and requirements you need to adhere to when
you are preparing budgets.
1 Ｉｎ　ｃｏｒｐｏｒａｔｅ　ｆｉｎａｎｃｅ，　ｔｈｅ　ａｎａｌｙｓｉｓ　ｈａｓ　ｂｅｅｎ　ｃａｒｒｉｅｄ　ｏｕｔ　ｉｎｔｅｒｎａｌｌｙ　ｂｙ　ｔｈｅ　ａｃｃｏｕｎｔｓ　ｐａ
ｙａｂｌｅ　ａｎｄ　ｃｏｍｍｕｎｉｃａｔｅｄ　ｗｉｔｈ　ｌｅａｄｅｒｓ　ｔｏ　ｉｍｐｒｏｖｅ　ｔｈｅｍ　ｍａｋｅ　ｂｅｔｔｅｒ　ｂｕｓｉｎｅｓｓ　ｄｅｃｉｓｉｏｎｓ．　Ｔ
ｏ　ｄｉｓｃｏｖｅｒ　ｉｎｆｒａｓｔｒｕｃｔｕｒｅ　ｐｒｏｊｅｃｔｓ　ｐｕｒｓｕｉｎｇ，　ｔｈｉｓ　ａｄｖａｎｔａｇｅ　ｏｆ　ｑｕａｌｉｔａｔｉｖｅ　ａｓｓｅｓｓｍｅｎｔ
　ｍａｙ　ｉｎｃｏｒｐｏｒａｔｅ　ｒａｔｉｏｓ　ｉｎｃｌｕｄｉｎｇ　ｓｕｃｈ　ｎｅｔ　ｐｒｅｓｅｎｔ　ｖａｌｕｅ　（ＮＰＶ）　ａｎｄ　ｉｎｔｅｒｎａｌ　ｒａｔｅ　ｏｆ　ｒ
ｅｔｕｒｎ　（ＩＲＲ）．
2 Ａｎ　ａｎａｌｙｓｔ　ｆｒｏｍ　ｏｕｔｓｉｄｅ　ｔｈｅ　ｆｉｒｍ　ｄｏｅｓ　ａ　ｆｉｎａｎｃｉａｌ　ａｎａｌｙｓｉｓ　ｉｎ　ｆｉｎａｎｃｉａｌ　ａｓｓｅｔｓ．　Ａｎａｌｙ
ｓｔｓ　ｍｉｇｈｔ　ｕｓｅ　ａ　ｔｏｐ－ｄｏｗｎ　ｏｒ　ｂｏｔｔｏｍ－ｕｐ　ｓｔｒａｔｅｇｙ　ｔｏ　ｉｎｖｅｓｔｉｎｇ．　Ａ　ｔｏｐ－ｄｏｗｎ　ｓｔｒａｔｅｇｙ　ｓｅａｒ
ｃｈｅｓ　ｆｏｒ　ｓｏｃｉｏｅｃｏｎｏｍｉｃ　ｐｏｓｓｉｂｉｌｉｔｉｅｓ，　ｓｕｃｈ　ａｓ　ｈｉｇｈ－ｐｅｒｆｏｒｍｉｎｇ　ｉｎｄｕｓｔｒｉｅｓ，　ｂｅｆｏｒｅ　ｄｒｉｌ
ｌｉｎｇ　ｄｏｗｎ　ｔｏ　ｄｉｓｃｏｖｅｒ　ｔｈｅ　ｆｉｎｅｓｔ　ｆｉｒｍｓ　ｉｎｓｉｄｅ　ｔｈｏｓｅ　ｉｎｄｕｓｔｒｉｅｓ．

3 Ｉｎ　ｏｒｄｅｒ　ｔｏ　ａｓｓｅｓｓ　ｔｈｅ　ｖａｌｕｅ　ｏｆ　ａ　ｆｉｒｍ，　ｒｅｌａｔｉｖｅ　ｖａｌｕａｔｉｏｎ　ｅｍｐｌｏｙｓ　ｒａｔｉｏｓ　ｄｅｒｉｖｅｄ　ｆｒｏｍ　ａｃｃｏｕｎｔｉ
ｎｇ　ｒｅｃｏｒｄｓ，　ｓｕｃｈ　ａｓ　ｐｒｏｆｉｔｓ　ｐｅｒ　ｓｈａｒｅ　（ＥＰＳ）．　Ｔｈｅ　ａｎａｌｙｓｉｓ　ｉｓ　ｎｅｃｅｓｓａｒｙ　ｔｏ　ｌｏｏｋ　ａｔ　ａｎ　ｉｎｔｒｉｎｓｉｃ　
ｗｏｒｔｈ　ｆｏｒ　ｓｕｃｈ　ｓｅｃｕｒｉｔｉｅｓ　ｅｍｐｌｏｙｉｎｇ　ｒａｔｉｏ　ａｎａｌｙｓｉｓ　ａｓ　ｗｅｌｌ　ａｓ　ａ　ｃｏｍｐｌｅｔｅ　ｓｔｕｄｙ　ｏｆ　ｔｈｅ　ｃｕｒｒｅｎｃｙ　
ｆｌｕｃｔｕａｔｉｏｎ　ａｒｏｕｎｄ　ｔｈｅ　ｆｉｒｍ．　Ｔｈｅ　ｕｌｔｉｍａｔｅ　ａｉｍ　ｉｓ　ｔｏ　ａｒｒｉｖｉｎｇ　ａｔ　ａ　ｆｉｇｕｒｅ　ｔｈａｔ　ｃａｎ　ｔｈｅｎ　ｂｅ　ｃｏｍｐａ
ｒｅｄ　ｔｏ　ｔｈｅ　ｐｒｅｓｅｎｔ　ｐｒｉｃｅ　ｏｆ　ａｎ　ａｓｓｅｔ　ｔｏ　ｄｅｔｅｒｍｉｎｅ　ｗｈｅｔｈｅｒ　ｉｔ　ｈａｓ　ｂｅｅｎ　ｄｉｓｃｏｕｎｔｅｄ　ｏｒ　ｏｖｅｒｐｒｉｃｅｄ．

4 Ｅｃｏｎｏｍｅｔｒｉｃ　ｐａｔｔｅｒｎｓ　ｇｌｅａｎｅｄ　ｆｒｏｍ　ｔｒａｄｅ　ａｃｔｉｖｉｔｙ，　ｓｕｃｈ　ａｓ　ｃｈａｒｔ　ｐａｔｔｅｒｎｓ，　ａｒｅ　ｕｓｅｄ　ｉｎ　ｔｅｃｈｎｉｃａｌ
　ａｎａｌｙｓｉｓ　（ＭＡ）．　Ｑｕａｌｉｔａｔｉｖｅ　ｒｅｓｅａｒｃｈ，　ｏｎ　ｔｈｅ　ｏｔｈｅｒ　ｈａｎｄ，　ｂｅｌｉｅｖｅｓ　ｔｈａｔ　ａ　ｒｉｓｋ　ｐｒｅｍｉｕｍ　ｃｕｒｒｅｎｔｌｙ
　ｒｅｐｒｅｓｅｎｔｓ　ａｌｌ　ｒｅａｄｉｌｙ　ｖｉｅｗａｂｌｅ　ｋｎｏｗｌｅｄｇｅ　ｂｕｔ　ｉｎｓｔｅａｄ　ｃｏｎｃｅｎｔｒａｔｅｓ　ｏｎ　ｐｒｉｃｅ　ｍｏｔｉｏｎ　ｄａｔａ　ｍｅｔｈｏｄ
ｓ．　Ｒａｔｈｅｒ　ｔｈａｎ　ｅｖａｌｕａｔｉｎｇ　ａ　ｓｅｃｕｒｉｔｙ＇ｓ　ｉｎｔｒｉｎｓｉｃ　ｑｕａｌｉｔｉｅｓ，　ｐｒｅｄｉｃｔｉｖｅ　ａｎａｌｙｔｉｃｓ　ａｉｍｓ　ａｔ　ｕｎｄｅｒｓ
ｔａｎｄｉｎｇ　ｔｈｅ　ｅｑｕｉｔｙ　ｍａｒｋｅｔｓ　ｕｎｄｅｒｌｙｉｎｇ　ｐｒｉｃｅ　ｃｈａｎｇｅｓ　ｂｙ　ｓｅａｒｃｈｉｎｇ　ｆｏｒ　ｔｒｅｎｄｓ　ａｎｄ　ｃｈａｎｇｅｓ．

5 Ａｌｌ　ｃｏｍｐａｎｙ　ｋｅｅｐｓ　ｓｕｆｆｉｃｉｅｎｔ　ａｎｄ　ｓｕｆｆｉｃｉｅｎｔ　ｗｒｉｔｔｅｎ　ｆｉｎａｎｃｉａｌ　ｄｏｃｕｍｅｎｔｓ　ｔｈａｔ　ａｃｃｕｒａｔｅ
ｌｙ　ｄｏｃｕｍｅｎｔ　ａｎｄ　ｅｘｐｌａｉｎ　ｔｈｅｉｒ　ｏｐｅｒａｔｉｏｎｓ，　ｅｃｏｎｏｍｉｃ　ｃｏｎｄｉｔｉｏｎ，　ａｎｄ　ｐｏｓｉｔｉｏｎ，　ａｓ　ｗｅｌｌ　ａ
ｓ　ｅｎａｂｌｅ　ｆｏｒ　ｔｈｅ　ｐｒｅｐａｒａｔｉｏｎ　ａｎｄ　ａｕｄｉｔｉｎｇ　ｏｆ　＂ｔｒｕｅ　ａｎｄ　ｆａｉｒ＂　ｆｉｎａｎｃｉａｌ　ｉｎｆｏｒｍａｔｉｏｎ．　Ｔ
ｏ　ｋｅｅｐ　ｔｒａｃｋ　ｏｆ　ｙｏｕｒ　ｆｉｎａｎｃｅｓ，　Ｔｏ　ｃｒｅａｔｅ　ａ　ｆｉｎａｎｃｉａｌ　ｓｔａｔｅｍｅｎｔ　ａｓ　ｗｅｌｌ　ａｓ　ａ　ｂｏａｒｄ　ｏｆ　
ｄｉｒｅｃｔｏｒｓ　ｐｒｅｓｅｎｔａｔｉｏｎ．

6 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

ACTIVITY 3a

1. Provide 4 examples of how you would circulate newly-written budgets to managers and explain
any additional information they need to know, such as reporting requirements and financial
delegations
1 Ｒｅｓｏｕｒｃｅｓ　ａｎｄ　ｕｔｉｌｉｔｙ　ａｃｃｏｕｎｔ：　Ｔｈｉｓ　ａｃｃｏｕｎｔ　ｃｏｎｔａｉｎｓ　ｔｈｅ　ｐｕｒｃｈａｓｅ　ｏｆ　ｐｒ
ｏｄｕｃｅ，　ｓｅｒｖｉｃｉｎｇ　ｒｅｐｌａｃｅｍｅｎｔ　ｐａｒｔｓ，　ｃｏｓｔｓ　ｏｆ　ｌａｂｏｒ，　ｍａｃｈｉｎｅ　ｕｔｉｌｉｚａｔｉｏｎ
，　ａｎｄ　ｅｌｅｃｔｒｉｃｉｔｙ　ｃｏｎｓｕｍｐｔｉｏｎ．

2 Ｌｉｑｕｉｄｉｔｙ　ｍａｎａｇｅｍｅｎｔ：　Ｔｈｉｓ　ｂｕｄｇｅｔ　ｄｅａｌｓ　ｗｉｔｈ　ｃａｓｈ　ｉｎｆｌｏｗｓ　ａｎｄ　ｉｓ　ｃｒｕｃｉａｌ　ｆｏｒ　ｃａｓｈ　ｍａｎ
ａｇｅｍｅｎｔ　ａｎｄ　ｓａｔｉｓｆｙｉｎｇ　ｃｕｒｒｅｎｔ　ｆｉｓｃａｌ　ｃｏｍｍｉｔｍｅｎｔｓ．　Ｔｈｅ　ｂｕｄｇｅｔｉｎｇ　ａｎｔｉｃｉｐａｔｅｓ　ｃａｓｈ　ｃｏｌ
ｌｅｃｔｉｏｎｓ　ａｎｄ　ｅｘｐｅｎｄｉｔｕｒｅｓ　ｆｏｒ　ａ　ｃｅｒｔａｉｎ　ｔｉｍｅｆｒａｍｅ　ａｎｄ　ｉｓ　ｒｅｑｕｉｒｅｄ　ｔｏ　ｋｅｅｐ　ｔｒａｃｋ　ｏｆ　ｒｅ
ｖｅｎｕｅ　ａｎｄ　ｅｘｐｅｎｄｉｔｕｒｅｓ　ａｎｄ　ｓｏ　ｔｈｅｒｅ　ｉｓ　ｎｏ　ｌａｃｋ　ｏｆ　ｃａｓｈ　ｔｏ　ｃｏｖｅｒ　ｏｂｌｉｇａｔｉｏｎｓ　ａｎｄ　ｎｏ　ｅｘ
ｔｒａ　ｕｎｎｅｅｄｅｄ　ｃａｓｈ　ｔｈａｔ　ｍｉｇｈｔ　ｈａｖｅ　ｂｅｅｎ　ｗａｓｔｅｄ．
3 Ｂｕｄｇｅｔｓ　ｆｏｒ　ｒｅｖｅｎｕｅ　ａｎｄ　ｅｘｐｅｎｓｅｓ：　Ｓａｌｅｓ　ｂｕｄｇｅｔｓ　ｓｈｏｕｌｄ　ｒｅｆｌｅｃｔ　ｅｘｐｅｃｔｅｄ
　ｓａｌｅｓ　ｂｙ　ｉｔｅｍ，　ｇｅｏｇｒａｐｈｉｃａｌ　ａｒｅａ，　ｆｕｎｃｔｉｏｎ，　ａｎｄ　ｓｏ　ｆｏｒｔｈ．　Ｍａｎａｇｅｒｓ　ｍｕｓ
ｔ　ｃｏｎｓｉｄｅｒ　ｔｈｅｉｒ　ｒｉｖａｌｓ，　ｐｒｏｊｅｃｔｅｄ　ｍａｒｋｅｔｉｎｇ　ｃｏｓｔｓ，　ｓａｌｅｓ　ｆｏｒｃｅ　ｐｅｒｆｏｒｍ
ａｎｃｅ，　ａｎｄ　ｏｔｈｅｒ　ｉｍｐｏｒｔａｎｔ　ａｓｐｅｃｔｓ　ｗｈｅｎ　ｆｏｒｅｃａｓｔｉｎｇ　ｓａｌｅｓ．

4 Ｂｕｄｇｅｔｓ　ｆｏｒ　ｃａｐｉｔａｌ　ｅｘｐｅｎｄｉｔｕｒｅｓ：　Ａ　ｃａｐｉｔａｌ　ｅｘｐｅｎｄｉｔｕｒｅ　ｐｌａｎ　ｉｓ　ａ　ｗｒｉｔｔｅｎ　ｐｌａｎ　ｔｈａｔ　ｓ
ｐｅｃｉｆｉｅｓ　ｔｈｅ　ｑｕａｎｔｉｔｙ　ａｎｄ　ｔｉｍｉｎｇ　ｏｆ　ａ　ｃｏｍｐａｎｙ＇ｓ　ｆｉｘｅｄ　ａｓｓｅｔ　ａｃｑｕｉｓｉｔｉｏｎｓ．　Ｔｈｉｓ　ｐｌａｎ　ｉ
ｓ　ｅｌｅｍｅｎｔ　ｏｆ　ａ　ｃｏｍｐａｎｙ＇ｓ　ｄｉｓｃｒｅｔｉｏｎａｒｙ　ｂｕｄｇｅｔ，　ｗｈｉｃｈ　ｉｓ　ｔｈｅｎ　ｕｓｅｄ　ｔｏ　ｐｌａｎ　ｏｐｅｒａｔｉｏｎｓ　
ｆｏｒ　ｔｈｅ　ｎｅｘｔ　ｙｅａｒ．　Ｒｅｐａｉｒｓ　ｔｏ　ｎｅｗ　ｒｅｓｏｕｒｃｅｓ，　ｔｈｅ　ｃｏｎｓｔｒｕｃｔｉｏｎ　ｏｆ　ｎｅｗ　ａｓｓｅｔｓ，　ａｎｄ　ｏｔｈｅ
ｒ　ｏｐｅｒａｔｉｎｇ　ｅｘｐｅｎｓｅｓ　ａｒｅ　ａｌｌ　ｅｘａｍｐｌｅｓ　ｏｆ　ｏｐｅｒａｔｉｏｎａｌ　ｃｏｓｔｓ．

ACTIVITY 3b

1 Identify five different ways staff could misappropriate company funds and suggest a resolution
for each.
Misappropriation Resolution
1 Ｐｒｏｖｉｄｉｎｇ　ｆａｌｓｅ　ｉｎｖｏｉｃｅｓ 　Ｔｈｉｓ　ｍａｙ　ｂｅ　ａｖｏｉｄｅｄ　ａｎｄ　ｈａｎｄｌｅｄ　ｂｙ　ｍａｋｉｎｇ　ｓｕｒｅ　ｔｈａｔ　ｙｏｕｒ　ｓｔａｆｆ　ａｒｅ　ａｗａｒｅ　ｏｆ　ｙｏｕｒ　ｐａ
ｙｍｅｎｔ　ａｎｄ　ｅｘｔｅｎｓｉｏｎ　ｒｅｇｕｌａｔｉｏｎｓ　ａｈｅａｄ　ｏｆ　ｔｉｍｅ．
ｏ　Ｒｅｑｕｅｓｔ　ｔｈａｔ　ｙｏｕｒ　ｓｕｐｅｒｖｉｓｏｒｓ　ｒｅｖｉｅｗ　ａｎｄ　ａｐｐｒｏｖｅ　ｔｈｅｉｒ　ｗｏｒｋｅｒｓ＇　ｔｉｍｅｓｈｅｅｔｓ．　Ｉｔ　ｃａｎ
　ｅｖｅｎ　ｂｅ　ｃｈａｎｇｅｄ　ｏｎｃｅ　ｉｔ　ｈａｓ　ｂｅｅｎ　ａｃｃｅｐｔｅｄ．
ｏ　Ｕｓｅ　ｃｏｍｐｕｔｅｒｉｚｅｄ　ｅｖｅｎｉｎｇ　ｄｅｖｉｃｅｓ　ｗｉｔｈ　ｔｉｍｅ－ｔｒａｃｋｉｎｇ　ａｕｔｈｏｒｉｚａｔｉｏｎ　ａｎｄ　ｌｏｃｋｉｎｇ　ｆｅａｔ
ｕｒｅｓ．　Ｔｈｅｏｒｅｔｉｃａｌｌｙ，　ｎｏ　ａｄｊｕｓｔｍｅｎｔｓ　ａｒｅ　ａｌｌｏｗｅｄ　ｏｎｃｅ　ａ　ｔｉｍｅ－ｔｒａｃｋ　ｈａｓ　ｂｅｅｎ　ａｕｔｈｏｒｉｓｅ
ｄ　ａｎｄ　ｓｅａｌｅｄ　ｆｒｏｍ　ｆｕｒｔｈｅｒ　ｃｈａｎｇｅｓ．　Ｏｎｅ　ｏｆ　ｔｈｅ　ｍｏｓｔ　ｅｆｆｅｃｔｉｖｅ　ｍｅｔｈｏｄｓ　ｔｏ　ａｖｏｉｄ　ｐａｙｒｏｌ
ｌ　ｆｒａｕｄ　ｉｓ　ｔｏ　ｕｓｅ　ｔｈｉｓ　ｓｏｌｕｔｉｏｎ．

2 Ｉｎｔｅｒｎａｌ　ｃｏｎｔｒｏｌ　ａｃｔｉｏｎｓ
3 Ｔｈｅｆｔ　ｆｒｏｍ　ｔｈｅ　ｃａｓｈ　ｒｅｇｉｓｔｅｒ
　ｓｕｃｈ　ａｓ　ｒｅｃｅｉｖｅｄ　ａｎｄ　ｔｒａｎｓｍｉｔｔｅｄ　ｐｒｅ　ａｎｄ　
ｐｏｓｔ　ｅｎｔｅｒｉｎｇ　ｔｈｅ　ｆｉｒｍ　ｍｉｇｈｔ　ｂｅ　ｕｓｅｄ　ｔｏ　ａｄ
ｄｒｅｓｓ　ａｎｄ　ａｖｏｉｄ　ｒｅｓｏｕｒｃｅ　ｔｈｅｆｔ．
ｏ　Ｓｔｒｉｃｔ　ｒｅｐｅｒｃｕｓｓｉｏｎｓ　ｔｏ　ａｌｅｒｔ　ｓｔａｆｆ　ｔｏ　ｔ
ｈｅ　ｉｎｆｒａｃｔｉｏｎ．
ｉｓｓｕｅ　ｍａｙ　ｂｅ　ｈａｎｄｌｅｄ　ａｎｄ　ａｖｏｉｄｅｄ　ｂｙ　ｉｎｓｔａｌｌｉｎｇ　ＣＣＴＶ　ｃａｍｅｒａｓ．　ＣＣ
ＴＶ　ｃａｍｅｒａｓ　ｗｉｔｈ　ｔｈｅ　ａ　ｓｉｇｈｔ　ｏｆ　ｔｈｅ　ｓｔａｆｆ　ａｎｄ　ｔｈｅ　ｃｌｉｅｎｔ　ｃａｎ　ｂｅ　
ｍｏｕｎｔｅｄ　ｏｎ　ｔｈｅ　ｒｏｏｆ　ｊｕｓｔ　ａｂｏｖｅ　ｃｈｅｃｋｏｕｔ　ｃｏｕｎｔｅｒ．
ｏ　Ｌｏｇ－ｉｎ　ａｎｄ　ｌｏｇ－ｏｕｔ　ｃｏｄｅｓ　ｆｏｒ　ｅｍｐｌｏｙｅｅｓ　（ｃｌｅｒｋ　ｃｏｄｅｓ：　Ｅｖｅｒｙ　ｅｍ
ｐｌｏｙｅｅ　ｓｈｏｕｌｄ　ｈａｖｅ　ｔｈｅｉｒ　ｏｗｎ　ｍｏｎｅｙ　ｍａｃｈｉｎｅ　ｐａｓｓｃｏｄｅ，　ｗｈｉｃｈ　ｙｏｕ　
ｎｅｅｄ　ｔｏ　ｕｓｅ　ｔｏ　ｓｉｇｎ　ｏｎ　ａｎｄ　ｏｆｆ　ｔｈｅ　ｓｙｓｔｅｍ　．　ｔｈｉｓ　ｉｓ　ａｃｈｉｅｖｅｄ．

4 Ｃａｓｈ　ｍｉｓｕｓｅ Ｓｅｐａｒａｔｉｏｎ　ｏｆ　ｔａｓｋｓ　ｍｉｇｈｔ　ｈｅｌｐ　ｔｏ　ａｄｄｒｅｓｓ　ａｎｄ　ａｖｏｉ
ｄ　ｐｅｔｔｙ　ｃａｓｈ　ｍｉｓｕｓｅ．　Ｔｈｉｓ　ｉｍｐｌｉｅｓ　ｔｈａｔ　ｖａｒｉｏｕｓ　ｉｎｄ
ｉｖｉｄｕａｌｓ　ａｒｅ　ｉｎ　ｃｈａｒｇｅ　ｏｆ　ｔａｓｋｓ　ｉｎｃｌｕｄｉｎｇ　ｉｓｓｕｉｎｇ　
ｐｕｒｃｈａｓｅ　ｒｅｑｕｉｓｉｔｉｏｎ　ｏｒ　ｉｎｖｏｉｃｉｎｇ，　ａｕｔｈｏｒｉｓｉｎｇ　ｓｐｅ
ｎｄｉｎｇ，　ｗｒｉｔｉｎｇ　ａ　ｃｈｅｃｋ，　ｄｅｐｏｓｉｔｉｎｇ　ｆｕｎｄｓ，　ａｎｄ　ｂａｌａ
ｎｃｉｎｇ　ｆｉｎａｎｃｅｓ．
5 Ｆａｋｅ　ｒｅｆｕｎｄｓ Ｔｈｉｓ　ｉｓｓｕｅ　ｍｉｇｈｔ　ｂｅ　ｈａｎｄｌｅｄ　ａｎｄ　ａｖｏｉｄｅｄ　ｂｙ　ｄｅｍａｎｄｉｎｇ　ａ　ｄｏｃｕｍｅｎｔａｔｉｏｎ　ｆｏｒ　ｐｒｏｆｉｔｓ．　Ｒｅ
ｆｕｎｄｓ　ａｒｅ　ｏｎｌｙ　ｇｉｖｅｎ　ｉｎ　ｔｈｅ　ｖｅｒｙ　ｓａｍｅ　ｍｏｎｅｙ　ａｓ　ｗａｓ　ｕｓｅｄ　ｔｏ　ｍａｋｅ　ａ　ｐｕｒｃｈａｓｅ．　Ｉｆ　ｙｏｕ　ｐ
ａｉｄ　ｗｉｔｈ　ａ　ｃａｓｈｉｅｒ＇ｓ　ｃｈｅｃｋ，　ｙｏｕ　ｃａｎ　ｇｅｔ　ａ　ｒｅｉｍｂｕｒｓｅｍｅｎｔ　ｂｙ　ｍａｉｌ　ａｆｔｅｒ　１４　ｄａｙｓ　ｏｆ　ｒｅｃ
ｅｉｖｉｎｇ　ｔｈｅ　ｒｅｔｕｒｎｅｄ　ｇｏｏｄｓ．
Ｔｏ　ｌｉｍｉｔ　ｏｒ　ｅｌｉｍｉｎａｔｅ　ｃａｓｈ　ｒｅｔｕｒｎｓ，　ｊｕｓｔ　ｐｒｏｖｉｄｅ　ｓｈｏｐ　ｖｏｕｃｈｅｒｓ　ｏｒ　ｅｑｕａｌ　ｓｗａｐｓ．　ｉｍｐｏｓ
ｉｎｇ　ａ　ｐａｒｔｉａｌ　ｒｅｆｕｎｄ　ｏｎ　ｉｔｅｍｓ　ｔｈａｔ　ｈａｖｅ　ｂｅｅｎ　ｕｎｓｅａｌｅｄ

7 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

ACTIVITY 3c

1. Explain your organisation’s use of ageing summaries, in terms of accounts payable and
receivable, where applicable.
Ｔｒａｄｅ　ｒｅｃｅｉｖａｂｌｅｓ　ｉｓ　ａ　ｔｅｒｍ　ｔｈａｔ　ｒｅｆｅｒｓ　ｔｏ　ｍｏｎｅｙ　ｏｗｅｄ　ｔｏ　ｙｏｕ．　Ａｃｃｏｕｎｔｓ　ｔｈａｔ　
ａｒｅ　ｐａｓｔ　ｄｕｅ　ａｒｅ　ｄｉｖｉｄｅｄ　ｉｎｔｏ　ｔｈｅ　ｆｏｌｌｏｗｉｎｇ　ｃａｔｅｇｏｒｉｅｓ：
１－３５　ｄａｙｓ　ｐａｓｔ　ｄｕｅ．　
３６－６５　ｄａｙｓ　ｐａｓｔ　ｄｕｅ．
６６－９０　ｄａｙｓ　ｐａｓｔ　ｄｕｅ
９１－１２０　ｄａｙｓ　ｂｅｙｏｎｄ　ｄｕｅ
１２１＋　ｄａｙｓ　ｐａｓｔ　ｄｕｅ．
Ｖａｒｉｏｕｓ　ｅｍａｉｌｓ　ａｒｅ　ｉｓｓｕｅｄ　ｗｈｅｎ　ａｃｃｏｕｎｔｓ　ｒｅａｃｈ　ｖａｒｉｏｕｓ　ｌｅｖｅｌｓ　ｏｆ　ｌａｔｅｎｅｓｓ，　ｉｎ
ｆｏｒｍｉｎｇ　ｔｈｅ　ｃｏｎｓｕｍｅｒ　ｏｆ　ｔｈｅｉｒ　ｏｂｌｉｇａｔｉｏｎ　ａｎｄ　ｓｅｅｋｉｎｇ　ｐａｙｍｅｎｔ．　Ｗｈｅｎ　ａ　ｃｏｎｓｕｍｅ
ｒ＇ｓ　ｐａｙｍｅｎｔ　ｉｓ　６５　ｄａｙｓ　ｏｖｅｒ　ｄｕｅ，　ｔｈｅｙ　ａｒｅ　ｋｉｎｄｌｙ　ｒｅｍｉｎｄｅｄ　ｂｙ　ｅｍａｉｌ　ｏｒ　ｐｈｏｎｅ　
ｂｙ　ｔｈｅ　ｃｏｍｐａｎｙ′ｓ　ａｕｄｉｔｏｒｓ．　Ｗｈｅｎ　ａ　ｃｏｎｓｕｍｅｒ＇ｓ　ａｃｃｏｕｎｔ　ｉｓ　９１　ｄａｙｓ　ｐａｓｔ　ｄｕｅ，　ａ
　ｄｉｒｅｃｔ　ｃｏｎｆｅｒｅｎｃｅ　ｗｉｌｌ　ｂｅ　ｃｏｎｄｕｃｔｅｄ　ｗｉｔｈ　ｔｈｅ　ｃｏｎｓｕｍｅｒ　ｔｏ　ｄｉｓｃｕｓｓ　ａ　ｎｅｗ　ａｒｒａ
ｎｇｅｍｅｎｔ．　Ｗｈｅｎ　ａ　ｃｏｎｓｕｍｅｒ＇ｓ　ｃｒｅｄｉｔ　ｉｓ　１２１　ｄａｙｓ　ｐａｓｔ　ｄｕｅ，　ｔｈｅ　ａｃｃｏｕｎｔ　ｉｓ　ｍａｒｋｅ
ｄ　ａｓ　ｂａｄ．Ｄｅｂｔｓ　ｏｒ　ａｎ　ａｃｃｏｕｎｔ　ｔｈａｔ　ｈａｓ　ｂｅｅｎ　ｏｐｅｎ　ｆｏｒ　ａ　ｌｏｎｇ　ｔｉｍｅ．

ACTIVITY 3d

1. Give an example of a contingency that could occur at your workplace and explain how you
would revise the budget to deal with it.

Ｉｆ　ａ　ｂｉｇ　ｃｏｎｔｉｎｇｅｎｃｙ　ａｒｉｓｅｓ，　ｔｈｅ　ｄｅｐａｒｔｍｅｎｔ＇ｓ　ｂｕｄｇｅｔ　ｍａｙ　ｎｅｅｄ　ｔｏ　ｂｅ　ａｄｊｕｓｔｅｄ
．Ａｓ　ａ　ｒｅｓｕｌｔ　ｏｆ　ｔｈｉｓ　ｃｏｎｔｉｎｇｅｎｃｙ，　ｒｅｖｅｎｕｅ　ｗｏｕｌｄ　ｂｅ　ｆｏｒｆｅｉｔｅｄ．
Ｓｐｅｎｄｉｎｇ　ｗｉｌｌ　ｂｅ　ｍｏｒｅ　ｔｈａｎ　ａｎｔｉｃｉｐａｔｅｄ．
Ｔｈｅｒｅ　ｗｉｌｌ　ｂｅ　ａｎ　ｏｖｅｒａｂｕｎｄａｎｃｅ　ｏｆ　ｐｅｒｓｏｎｎｅｌ．
Ｉｎ　ｔｈｉｓ　ｃａｓｅ，　ｔｈｅ　ｇｏｖｅｒｎｍｅｎｔ＇ｓ　ｂｕｄｇｅｔ　ｗｉｌｌ　ｎｅｅｄ　ｔｏ　ｂｅ　ａｄｊｕｓｔｅｄ　ｔｏ　ａｃｃｏｕｎｔ　ｆｏ
ｒ　ｔｈｅ　ｓｕｂｓｔａｎｔｉａｌ　ｓｐｅｎｄｉｎｇ，　ｔｈｅ　ｌｏｓｔ　ｒｅｖｅｎｕｅ，　ａｎｄ　ｔｈｅ　ｐａｙ　ｏｆ　ｔｈｅ　ｅｍｐｌｏｙｅｅｓ．　
Ｉｔ＇ｓ　ｐｏｓｓｉｂｌｅ　ｔｈａｔ　ｙｏｕｒ　ｃｏｍｐａｎｙ　ｈａｓ　ａ　ｓｙｓｔｅｍ　ｉｎ　ｐｌａｃｅ　ｔｈａｔ　ｏｕｔｌｉｎｅｓ　ｈｏｗ　ｔｈｅ　
ｓｐｅｎｄｉｎｇ　ｓｈｏｕｌｄ　ｂｅ　ａｄｊｕｓｔｅｄ．　Ａｄｄｉｎｇ　ａｎ　ｅｘｔｒａ　ａｒｅａ　ｔｏ　ｔｈｅ　ｂｕｄｇｅｔａｒｙ：　ｉｎｔｒｏｄｕｃ
ｉｎｇ　ｓｏｍｅ　ｒｅｑｕｉｒｅｄ　ｔｏ　ｔｈｅ　ｅｘｐｅｎｄｉｔｕｒｅ，　ｓｕｃｈ　ａｓ　ａ　ｎｅｗ　ｋｉｎｄ　ｏｆ　ｅｘｐｅｎｄｉｔｕｒｅ　ｔｏ　ｔ
ｈｅ　ｂｕｄｇｅｔ，　ａｒｅ　ｉｎｓｔａｎｃｅｓ　ｏｆ　ｅｘｐｅｎｄｉｔｕｒｅ　ｒｅｖｉｓｉｏｎｓ．
Ｍｏｄｉｆｙ　ｔｈｅ　ｎｅｅｄ　ｉｎ　ｏｒｄｅｒ　ｔｏ　ｕｐｄａｔｅ　ｔｈｅ　ｓａｌｅｓ　ｂｕｄｇｅｔ，　ａｎｄ　ｃｒｅａｔｅ　ａ　ｎｅｗ　ｂｕｄｇｅｔ
．

8 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

ACTIVITY 3e

1. Give an example of how you could use an audit trail to identify a discrepancy in budget
allocations.

Ｔｈｅ　ｐｒｏｐｅｒ　ａｃｃｏｕｎｔｉｎｇ　ｓｕｍｍａｒｙ　ｏｆ　ｔｈｅ　ａｕｄｉｔ　ｔｒａｉｌ　ｒｅｖｅａｌｓ　ｔｈａｔ　ｔｈｅ　ｏｆｆｉｃｅ　ｕｎｄ
ｅｒｓｐｅｎｔ　ｏｎ　ｃｏｎｓｕｍａｂｌｅｓ　ｔｈｉｓ　ｍｏｎｔｈ．　Ｐｅｒｉｏｄ　ｏｆ　ｃｏｎｓｏｌｉｄａｔｉｏｎ　ｆｏｒ　￥２，０００　ｗｅｒｅ　ｍ
ａｄｅ　ｗｉｔｈ　ｔｈｅ　ｓｔａｔｉｏｎａｒｙ　ｓｈｏｐ　ｆｏｕｒ　ｓｅｃｏｎｄｓ　ａｐａｒｔ，　ａｃｃｏｒｄｉｎｇ　ｔｏ　ｔｈｅ　ａｕｄｉｔ　ｔｒａｉ
ｌ．　Ｔｈｅ　ｌａｃｋ　ｏｆ　ａ　ｖｅｒｉｆｉａｂｌｅ　ｔｒａｉｌ　ｍｉｇｈｔ　ｂｅ　ｏｎｅ　ｏｆ　ｔｈｅ　ｃａｕｓｅｓ　ｂｅｈｉｎｄ　ｔｈｉｓ．
Ｉｍｂａｌａｎｃｅｓ　ｉｎ　ｅｘｐｅｎｓｅ　ｒｅｐｏｒｔｓ．
Ａｕｔｈｏｒｉｚａｔｉｏｎｓ　ｔｈａｔ　ａｒｅｎ＇ｔ　ｓｕｉｔａｂｌｅ．
Ｐａｙｍｅｎｔｓ　ｔｈａｔ　ａｒｅ　ｉｎｃｏｒｒｅｃｔ．
Ｃｏｍｐｌａｉｎｔ　ｓｔｙｌｅｓ　ｔｈａｔ　ａｒｅ　ｉｎｃｏｒｒｅｃｔ．
Ｗｏｒｋｉｎｇ　ｃａｐｉｔａｌ　ａｎｄ　ｂｕｓｉｎｅｓｓ　ｒｅｐｏｒｔｓ　ｔｈａｔ　ｈａｖｅｎ＇ｔ　ｂｅｅｎ　ｒｅｃｏｎｃｉｌｅｄ．
Ｖａｒｉａｔｉｏｎｓ　ｆｒｏｍ　ｔｈｅ　ｂｕｄｇｅｔ，　ａｓ　ｗｅｌｌ　ａｓ　ｐｈａｓｉｎｇｓ
Ｔｈｅ　ｅｘｔｅｒｎａｌ　ａｕｄｉｔ　ｗｉｌｌ　ｕｎｃｏｖｅｒ　ｄｉｓｐａｒｉｔｉｅｓ　ｂｅｔｗｅｅｎ　ｆｕｎｄｓ　ａｌｌｏｃａｔｅｄ　ａｎｄ　ｔａｋｅ
　ｅｘｔｒａ．　Ｔｈｅ　ｅｘｔｅｒｎａｌ　ａｕｄｉｔ　ｃａｎ　ｒｅｖｅａｌ　ｂｏｔｈ　ｕｎｄｅｒ　ａｎｄ　ｏｖｅｒｐａｙｉｎｇ　ｐｅｒ　ｄｅｐａｒｔｍｅ
ｎｔ，　ａｌｌｏｗ　ｕｓ　ｔｏ　ｍａｋｅ　ｍｏｒｅ　ｅｄｕｃａｔｅｄ　ｄｅｃｉｓｉｏｎｓ．
Ｓｏｕｒｃｅ：　Ｇｆｏａ．ｏｒｇ．　２０１６．　Ｆｉｎａｎｃｉａｌ　Ｆｏｒｅｃａｓｔｉｎｇ　Ｉｎ　Ｔｈｅ　Ｂｕｄｇｅｔ　Ｐｒｅｐａｒａｔｉｏｎ　Ｐｒｏｃ
ｅｓｓ　
｜　Ｇｏｖｅｒｎｍｅｎｔ　Ｆｉｎａｎｃｅ　Ｏｆｆｉｃｅｒｓ　Ａｓｓｏｃｉａｔｉｏｎ．　［ｏｎｌｉｎｅ］　Ａｖａｉｌａｂｌｅ　ａｔ：　
＜ｈｔｔｐ：／／ｗｗｗ．ｇｆｏａ．ｏｒｇ／ｆｉｎａｎｃｉａｌ－ｆｏｒｅｃａｓｔｉｎｇ－ｂｕｄｇｅｔ－ｐｒｅｐａｒａｔｉｏｎ－ｐｒｏｃｅｓｓ＞　［Ａｃｃｅ
ｓｓｅｄ
６　Ｍａｙ　２０２０］．

ACTIVITY 3f

1. Identify three areas of compliance you could monitor in your workplace and explain how you
would ensure that regulations are being adhered to

Area of Compliance Ensure Compliance

1 　Ｓｐｅｎｄｉｎｇ　ｒｕｌｅｓ Ｉｆ　ｓｔａｆｆ　ａｒｅ　ｒｅｑｕｉｒｅｄ　ｔｏ　ｓｅｅｋ　ａｐｐｒｏｖａｌ　ｏｒ　ｓｕ
ｂｍｉｔ　ａ　ｒｅｑｕｅｓｔ　ｗｈｅｎ　ｐｕｒｃｈａｓｉｎｇ　ｉｔｅｍｓ，
ｔｈｅｎ　ｔｈｅｙ　ｍｕｓｔ　ａｂｉｄｅ　ｂｙ　ｔｈｉｓ　ｒｅｑｕｉｒｅｍｅｎｔ；　ｔｈ
ｉｓ　ｐｒｅｖｅｎｔｓ　ｕｎａｕｔｈｏｒｉｓｅｄ　ｓｐｅｎｄｉｎｇ　ａｎｄ
ｈｅｌｐｓ　ｔｏ　ｍａｎａｇｅ　ｂｕｓｉｎｅｓｓ　ａｎｄ　ｄｅｐａｒｔｍｅｎｔａｌ　ｆｉ
ｎａｎｃｅｓ．

2 Ｓｔａｎｄａｒｄｓ　ｆｏｒ　ｒｅｐｏｒｔａｇｅ
Ｉｆ　ｅｍｐｌｏｙｅｅｓ　ａｒｅ　ｅｘｐｅｃｔｅｄ　ｔｏ　ｒｅｐｏｒｔ　ｏｎ　ｃｏｎｃｅ
ｒｎｓ　ｏｒ　ａｔ　ｓｐｅｃｉｆｉｃ　ｔｉｍｅｓ，　ｙｏｕ　ｍｕｓｔ　ｇｕａｒａｎｔｅｅ
　ｔｈａｔ　ｔｈｅｙ　ｆｏｌｌｏｗ　ｔｈｅｓｅ　ｇｕｉｄｅｌｉｎｅｓ　ａｎｄ　ｒｅｐｏｒ
ｔ　ａｐｐｒｏｐｒｉａｔｅｌｙ．　Ｏｐｅｒａｔｉｏｎｓ　ｔｈａｔ　ｎｅｅｄ　ｒｅｐｏｒｔ
ｓ　ｍａｙ　ｓｔｏｐ　ｏｒ　ｂｅ　ｄｅｌａｙｅｄ　ｉｆ　ｔｈｅｙ　ａｒｅ　ｍｉｓｓｉｎｇ
，　ｗｈｅｒｅａｓ　ｌａｔｅ　ｅｎｔｒｉｅｓ　ｍａｙ　ｂｅ　ｎｅｇｌｅｃｔｅｄ，　ｌｏｓ
ｔ，　ｏｒ　ｉｎａｃｃｕｒａｔｅ．

3 Ｅｘｐｅｎｄｉｔｕｒｅ　ｒｅｇｕｌａｔｉｏｎｓ
Ｉｆ　ｅｍｐｌｏｙｅｅｓ　ａｒｅ　ｏｂｌｉｇｅｄ　ｔｏ　ｏｂｔａｉｎ　ｃｌ
ｅａｒａｎｃｅ　ｏｒ　ｒｅｑｕｅｓｔ　ｂｅｆｏｒｅ　ｂｕｙｉｎｇ　ｓｔｕｆ
ｆ，　ｔｈｅｙ　ｍｕｓｔ　ｃｏｍｐｌｙ；　ｔｈｉｓ　ａｖｏｉｄｓ　ｉｌｌｅ
ｇａｌ　ｅｘｐｅｎｄｉｔｕｒｅｓ　ａｎｄ　ａｉｄｓ　ｉｎ　ｔｈｅ　ｍａｎａ
ｇｅｍｅｎｔ　ｏｆ　ｔｈｅ　ｃｏｍｐａｎｙ＇ｓ　ａｎｄ　ｄｅｐｔ＇ｓ　ｍｏ
ｎｅｙ．

9 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

Activity 4a

1. Identify a report used in your workplace and list all your organisation’s specifications here,
including format and style

Ａ　ｔｏｐ　ｓｈｅｅｔ　ｏｖｅｒｖｉｅｗ　ｗｉｔｈ　ａ　ｐｉｅ　ｃｈａｒｔ　ｉｓ　ｒｅｑｕｉｒｅｄ　ｆｏｒ　ｂｕｄｇｅｔ　ｒｅｐｏｒｔｉｎｇ．
Ａ　ｂａｌａｎｃｅ　ｓｈｅｅｔ　ｉｓ　ａ　ｆｉｎａｎｃｉａｌ　ｓｔａｔｅｍｅｎｔ　ｔｈａｔ　ｌｉｓｔｓ　ａｌｌ　ｏｆ　ｙｏｕｒ　ａｓｓｅｔｓ　ａｎｄ　ｌ
ｉａｂｉｌｉｔｉｅｓ．
Ａｕｄｉｔ　ｔｒａｃｅｓ　ｏｎ　ｐａｐｅｒ．
Ｔｈｅ　ｍａｎａｇｅｒ　ｈａｓ　ｄｅｖｅｌｏｐｅｄ　ａｎ　ｏｐｅｒａｔｉｏｎａｌ　ｓｔａｔｅｍｅｎｔ．
Ｕｓｉｎｇ　ｔｈｅ　ａｂｏｖｅ－ｍｅｎｔｉｏｎｅｄ　ｑｕａｒｔｅｒｌｙ　ｃａｓｈ　ｂｕｄｇｅｔ　ａｓ　ａｎ　ｅｘａｍｐｌｅ，　ｔｈｅ　ｗｒｉｔｅｒ　ｍａ
ｙ　ｎｅｅｄ　ｔｏ　ｕｔｉｌｉｓｅ　ｔｈｅ　ｆｏｌｌｏｗｉｎｇ　ｆｏｒｍａｔｓ：
Ａ　ｔｏｐ　ｐａｇｅ　ｃｏｎｔａｉｎｉｎｇ　ａ　ｓｕｍｍａｒｙ：
ａ　ｇｒａｐｈ　ｉｎ　ｔｈｅ　ｆｏｒｍ　ｏｆ　ａ　ｐｉｅ　ｃｈａｒｔ
Ｆｉｎａｎｃｉａｌ　ａｌｌｏｃａｔｉｏｎ　ａｎｄ　ｏｆｆｉｃｉａｌ　ｎｕｍｂｅｒｓ　ａｒｅ　ｌｉｓｔｅｄ　ｏｎ　ａ　ｓｈｅｅｔ：
Ａ　ｂａｌａｎｃｅ　ｓｈｅｅｔ　ｉｓ　ａ　ｄｏｃｕｍｅｎｔ　ｔｈａｔ　ｓｈｏｗｓ　ｈｏｗ　ｍｕｃｈ　ｍｏｎｅｙ　ｙｏｕ　ｈａｖｅ．　Ａ　ｓｐｒｅａｄｓｈ
ｅｅｔ　ｉｓ　ａ　ｄｏｃｕｍｅｎｔ　ｔｈａｔ　ｓｈｏｗｓ　ｈｏｗ　ｍｕｃｈ
Ａ　ｃａｓｈ　ｒｅｐｏｒｔ　ｉｓ　ａ　ｆｉｎａｎｃｉａｌ　ｓｔａｔｅｍｅｎｔ　ｔｈａｔ　ｓｈｏｗｓ　ｈｏｗ　ｍｕｃｈ　ｍｏｎｅｙ　ｉｓ　ｃｏｍｉｎｇ　ｉ
ｎ　ａｎｄ　ｇｏｉｎｇ
Ｎｕｍｅｒｏｕｓ　ｓｈｅｅｔｓ　ｏｆ　ａｃｔｉｖｉｔｙ　ｒｅｃｏｒｄ　ｋｅｅｐｉｎｇ　ｗｒｉｔｔｅｎ　ｏｎ　ｐａｐｅｒ：
ｔａｂｌｅｓ．　ａｕｄｉｔ　ｔｒａｉｌｓ　ｏｂｓｅｒｖａｔｉｏｎｓ　ｆｒｏｍ　ｔｈｅ　ｄｅｐａｒｔｍｅｎｔ　ｈｅａｄ：　ｏ　ａ　ｆｉｎａｎｃｉａｌ　ｓｔ
ａｔｅｍｅｎｔ　ｓｉｍｐｌｅ　ｔｅｘｔ　ａｎｄ　ａ　ｓｔａｔｅｍｅｎｔ　ｏｆ　ｏｐｅｒａｔｉｏｎ

Activity 4b

1. How are significant issues in statements highlighted for priority attention in your workplace?

－　Ａ　ｎｏｔｅ　ｉｓ　ａｐｐｅｎｄｅｄ　ｔｏ　ｔｈｅ　ｆｉｒｓｔ　ｐａｇｅ　ｏｆ　ｔｈｅ　ｒｅｐｏｒｔ　ｄｅｓｃｒｉｂｉｎｇ　ｔｈｅ　ｎａｔｕｒｅ　ｏ
ｆ　ｔｈｅ　ｐｒｏｂｌｅｍ　ａｎｄ　ｉｔｓ　ｒｅｌｅｖａｎｃｅ，　ａｓ　ｗｅｌｌ　ａｓ　ｄｉｒｅｃｔｉｎｇ　ｔｈｅ　ｒｅａｄｅｒ　ｔｏ　ｏｔｈｅｒ　ｒｅ
ｓｏｕｒｃｅｓ．
Ｅｘａｍｐｌｅ　１：　ＴＨＩＳ　ＩＳ　ＶＥＲＹ　ＩＭＰＯＲＴＡＮＴ！　Ｔｈｅ　ｅｘｐｅｎｄｉｔｕｒｅｓ　ｂｕｄｇｅｔ　ｗａｓ　￥１，７００　ａｂｏｖｅ　
ｂｕｄｇｅｔ．　Ｄｅｔａｉｌｓ　ｃａｎ　ｂｅ　ｆｏｕｎｄ　ｏｎ　ｐａｇｅ　ｔｈｒｅｅ．
ＡＴＴＥＮＴＩＯＮ！　（Ｅｘａｍｐｌｅ　２）　Ｔｈｅ　ｍａｒｋｅｔｉｎｇ　ｔｅａｍ　ｆａｌｌｓ　ｓｈｏｒｔ　ｏｆ　ｔｈｅｉｒ　￥３０，０００　ｇｏａｌ．
　Ａ　ｔｏｔａｌ　ｏｆ　￥５，０００　ｉｓ　ｒｅｑｕｉｒｅｄ．　Ｅｖｅｒｙｂｏｄｙ　ｓｈｏｕｌｄ　ｐｉｔｃｈ　ｉｎ　ｔｏ　ａｓｓｉｓｔ　ｔｈｅ　ｏｒｇａ
ｎｉｚａｔｉｏｎ！
－　Ｉｆ　ａｎｙ　ｏｆ　ｔｈｅ　ｆｏｌｌｏｗｉｎｇ　ｉｔｅｍｓ　ａｒｅ　ｉｎ　ｄｉｓｐｕｔｅ，　ｔｈｅ　ｍａｔｔｅｒ　ｍｕｓｔ　ｂｅ　ｂｒｏｕｇｈｔ　ｔ
ｏ　ｔｈｅ　ａｔｔｅｎｔｉｏｎ　ｏｆ　ｔｈｅ　ｒｅｌｅｖａｎｔ　ａｕｔｈｏｒｉｔｉｅｓ　ｓｏ　ｔｈａｔ　ｊｕｄｇｍｅｎｔｓ　ｃａｎ　ｂｅ　ｔａｋｅｎ．　
Ｙｏｕ　ｍｉｇｈｔ　ｂｅ　ａｂｌｅ　ｔｏ　ｉｎｃｌｕｄｅ　ｄｅｔａｉｌｓ　ａｂｏｕｔ　ｙｏｕｒ　ｓｕｇｇｅｓｔｉｏｎｓ　ｉｎ　ｔｈｅ　ｓｔｕｄｙ　ｓｏ　
ｔｈａｔ　ｔｈｅｙ　ｍｉｇｈｔ　ｂｅ　ｅｖａｌｕａｔｅｄ．　Ｉｔ＇ｓ　ｃｒｉｔｉｃａｌ　ｔｏ　ｍａｋｅ　ｔｈｅｓｅ　ｐｏｉｎｔｓ　ａｐｐａｒｅｎｔ　ｉｎ
　ｄｅｃｌａｒａｔｉｏｎｓ　ｏｒ　ｒｅｐｏｒｔｓ，　ａｓ　ｔｈｅｙ＇ｒｅ　ｅａｓｙ　ｔｏ　ｉｇｎｏｒｅ，　ｐａｒｔｉｃｕｌａｒｌｙ　ｉｆ　ｔｈｅ　ｄｏｃ
ｕｍｅｎｔ　ｗｏｎ＇ｔ　ｂｅ　ｒｅａｄ　ｆｒｏｍ　ｂｅｇｉｎｎｉｎｇ　ｔｏ　ｅｎｄ．　Ａｎｙ　ｄｉｆｆｉｃｕｌｔｉｅｓ　ｗｉｔｈ　ｔｈｅ　ｃｏｍｐａｎｙ
＇ｓ　ｆｉｎａｎｃｅｓ　ａｒｅ　ｃｒｉｔｉｃａｌ　ａｎｄ　ｓｈｏｕｌｄ　ｂｅ　ａｄｄｒｅｓｓｅｄ　ｆｏｒ　ｔｈｅ　ｂｅｎｅｆｉｔ　ｏｆ　ｔｈｅ　ｃｏｍｐ
ａｎｙ．

10 ANIBT Assessment Tool

Version 3.1
Date: September 2018 AAP TM
 BSBFIM601 Manage Finances ACTIVITIES

Activity 4c

1. Explain how you would use each of the following to determine the financial viability of the
organisation:

 Cash flow
Ｐｏｏｒ　ｉｎｗａｒｄ　ｃａｓｈ　ｆｌｏｗ　ｉｎｄｉｃａｔｅｓ　ａ　ｌａｃｋ　ｏｆ　ｖｉａｂｉｌｉｔｙ，　ｗｈｅｒｅａｓ　ｓｔｒｏｎｇ　ｉｎｗａｒｄ　ｃａｓｈ　ｆｌｏｗ　ｉｎｄｉｃａ
ｔｅｓ　ｐｒｏｆｉｔａｂｉｌｉｔｙ．　Ｆｕｒｔｈｅｒｍｏｒｅ，　ｉｆ　ａ　ｆｉｒｍ　ｈａｓ　ａ　ｐｏｓｉｔｉｖｅ　ｏｐｅｒａｔｉｏｎａｌ　ｃａｓｈ　ｆｌｏｗ，　ｉｔ　ｉｍｐｌｉｅｓ　
ｔｈａｔ　ｉｔ　ｉｓ　ｐｒｏｆｉｔａｂｌｅ．　Ａ　ｎｅｇａｔｉｖｅ　ｉｎｖｅｓｔｍｅｎｔ　ｃａｓｈ　ｆｌｏｗ，　ｏｎ　ｔｈｅ　ｏｔｈｅｒ　ｈａｎｄ，　ｉｎｄｉｃａｔｅｓ　ｔｈａｔ　ｔ
ｈｅ　ｆｉｒｍ　ｉｓ　ｉｎｖｅｓｔｍｅｎｔ　ｉｎ　ｉｔｓ　ｇｒｏｗｔｈ　ｉｎ　ｔｈｅ　ｆｕｔｕｒｅ．　Ｎｅｖｅｒｔｈｅｌｅｓｓ，　ｉｆ　ｉｔ　ｉｓ　ｔｈｅ　ｃｏｎｓｅｑｕｅｎｃｅ　ｏ
ｆ　ｂａｄ　ａｓｓｅｔ　ａｃｑｕｉｓｉｔｉｏｎ　ｃｈｏｉｃｅｓ，　ｉｔ　ｍｉｇｈｔ　ｂｅ　ａ　ｒｅｄ　ｆｌａｇ．　Ａ　ｎｅｔ　ｐｒｏｆｉｔ　ｆｒｏｍ　ｆｉｎａｎｃｉａｌ　ｏｐｅｒａｔ
ｉｏｎｓ　ｓｔａｔｉｓｔｉｃ　ｉｎｄｉｃａｔｅｓ　ｔｈａｔ　ｍｏｒｅ　ｍｏｎｅｙ　ｇｏｅｓ　ｉｎｔｏ　ｔｈｅ　ｆｉｒｍ　ｔｈａｎ　ｉｓ　ｐｏｕｒｉｎｇ　ｏｕｔ，　ｉｍｐｌｙｉｎｇ　ｔ
ｈａｔ　ｔｈｅ　ｔｏｔａｌ　ｐｒｏｆｉｔａｂｉｌｉｔｙ　ａｒｅ　ｇｒｏｗｉｎｇ．　Ｓｔｒｏｎｇ　ｆｉｎａｎｃｅ　ｉｎｖｅｓｔｍｅｎｔ　ｒｅｔｕｒｎｓ　ｉｎｄｉｃａｔｅ　ｔｈａｔ　ｍｏ
ｒｅ　ｍｏｎｅｙ　ｉｓ　ｇｏｉｎｇ　ｉｎｔｏ　ｔｈｅ　ｆｉｒｍ　ｔｈａｎ　ｉｓ　ｐｏｕｒｉｎｇ　ｏｕｔ，　ｉｍｐｌｙｉｎｇ　ｔｈａｔ　ｔｈｅ　ｃｏｍｐａｎｙ＇ｓ　ａｄｅｑｕａｃｙ　ｉ
ｓ　ｉｎｃｒｅａｓｉｎｇ．

 Changes in business activity, including markets, goods or services traded

Ｍａｒｋｅｔｓ　ｔｈａｔ　ａｒｅ　ｗｏｒｓｅｎｉｎｇ　ｍｉｇｈｔ　ｂｅ　ａｎ　ｉｎｄｉｃａｔｉｏｎ　ｏｆ　ｆａｌｌｉｎｇ　ｐｒｉｃｅｓ　ｏｒ　ａ　ｆｉｎ
ａｎｃｉａｌ　ｃｏｌｌａｐｓｅ，　ｂｏｔｈ　ｏｆ　ｗｈｉｃｈ　ｗｏｕｌｄ　ｌｅａｄ　ｔｏ　ａ　ｌｏｗｅｒ　ｉｎ　ｉｎｃｏｍｅ．

 Consolidation
Ｃｏｍｂｉｎｅｄ　ｄｅｂｔｓ　ｍｉｇｈｔ　ｐｕｔ　ｙｏｕｒ　ｃｏｍｐａｎｙ　ａｔ　ｒｉｓｋ　ｉｆ　ｙｏｕ　ｄｏｎ＇ｔ　ｐａｙ　ｔｈｅｍ　ｂａｃｋ　ｏｎ　
ｔｉｍｅ．

 Expenses and overheads

Ｉｆ　ｅｘｐｅｎｓｅｓ　ａｎｄ　ｏｖｅｒｈｅａｄｓ　ａｒｅ　ｕｎｓｕｓｔａｉｎａｂｌｅ，　ｔｈｅｙ　ｍｉｇｈｔ　ｌｅａｄ　ｔｏ　ｐｏｏｒ　ｅｘｐｅｎｓｅ
　ｍａｎａｇｅｍｅｎｔ，　ｒｅｓｕｌｔｉｎｇ　ｉｎ　ｅｘｃｅｓｓｉｖｅ　ｐｒｏｄｕｃｔｉｏｎ　ｃｏｓｔｓ．

 Labour costs, including decisions to move production to other locations or sites

Ｕｎｓｕｓｔａｉｎａｂｌｅ　ｌａｂｏｕｒ　ｅｘｐｅｎｓｅｓ，　ｉｎｃｌｕｄｉｎｇ　ｃｈｏｉｃｅｓ　ｔｏ　ｓｈｉｆｔ　ｍａｎｕｆａｃｔｕｒｉｎｇ　ｔｏ　ｏ
ｔｈｅｒ　ｒｅｇｉｏｎｓ　ｏｒ　ｓｉｔｅｓ，　ｃａｎ　ｈａｖｅ　ａ　ｓｉｇｎｉｆｉｃａｎｔ　ｉｍｐａｃｔ　ｏｎ　ａ　ｃｏｍｐａｎｙ＇ｓ　ｓｕｒｖｉｖａｌ
．Ｈｉｇｈ　ｌａｂｏｕｒ　ｔｕｒｎｏｖｅｒ　ｎｅｃｅｓｓｉｔａｔｅｓ　ｈｉｇｈｅｒ　ｒｅｃｒｕｉｔｍｅｎｔ　ａｎｄ　ｔｒａｉｎｉｎｇ　ｃｏｓｔｓ．

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 BSBFIM601 Manage Finances ACTIVITIES

 Loss
Ｓｉｇｎｉｆｉｃａｎｔ　ｌｏｓｓｅｓ　ｃａｎ　ｈａｖｅ　ａ　ｎｅｇａｔｉｖｅ　ｉｍｐａｃｔ　ｏｎ　ａ　ｃｏｍｐａｎｙ＇ｓ　ｐｒｏｆｉｔａｂｉｌｉｔｙ．

 Profit

Ａ　ｌａｒｇｅ　ｐｒｏｆｉｔ　ｍａｒｇｉｎ　ｍｉｇｈｔ　ｉｎｄｉｃａｔｅ　ｔｈａｔ　ａ　ｆｉｒｍ　ｉｓ　ｄｏｉｎｇ　ａ　ｇｏｏｄ　ｊｏｂ　ｏｆ　ｍａｎａ
ｇｉｎｇ　ｅｘｐｅｎｓｅｓ　ｏｒ　ｔｈａｔ　ｔｈｅ　ｃｏｍｐａｎｙ　ｉｓ　ｄｏｉｎｇ　ａ　ｇｏｏｄ　ｊｏｂ　ｏｆ　ｍａｋｉｎｇ　ｍｏｎｅｙ．

 Write-offs.
Ｗｒｉｔｅ－ｏｆｆｓ　—　ｗｒｉｔｅ－ｏｆｆｓ　ｃａｎ　ｈａｖｅ　ａ　ｄｉｒｅｃｔ　ａｆｆｅｃｔ　ｏｎ　ａ　ｃｏｍｐａｎｙ＇ｓ　ｐｒｏｆｉｔａｂｉｌｉ
ｔｙ．　Ｌｏｎｇ－ｏｖｅｒｄｕｅ　ｄｅｂｔｓ　ｃａｎ　ｒｅｓｕｌｔ　ｉｎ　ａ　ｓｉｇｎｉｆｉｃａｎｔ　ｆｉｎａｎｃｉａｌ　ｏｕｔｌａｙ　ｆｏｒ　ｔｈｅ　
ｆｉｒｍ，　ｒｅｓｕｌｔｉｎｇ　ｉｎ　ａ　ｌｏｓｓ　ｉｎ　ｅａｒｎｉｎｇｓ．

Activity 4d

1. Outline here how you would evaluate the effectiveness of your organisation’s financial
management processes.

Ｉｎｔｅｒａｃｔｉｎｇ　ｗｉｔｈ　ａｐｐｒｏｐｒｉａｔｅ　ｐｅｒｓｏｎｎｅｌ　ｔｏ　ｕｎｄｅｒｓｔａｎｄ　ｔｈｅｉｒ　ｐｒｏｃｅｓｓｅｓ　ｐｅｒｆｏｒｍ
ａｎｃｅ　ａｎｄ　ｃｏｎｃｅｒｎｓ　ａｎｙ　ｕｎｐｒｏｄｕｃｔｉｖｅ　ｓｔｅｐｓ．
Ａｎａｌｙｚｉｎｇ　ａｌｌ　ａｓｐｅｃｔｓ　ｏｆ　ｔｈｅ　ｓｉｔｕａｔｉｏｎ　ｔｏ　ｆｉｎｄ　ｗｅａｋ　ｓｐｏｔｓ　ｔｈａｔ　ｎｅｅｄ　ｔｏ　ｂｅ　ａｄ
ｄｒｅｓｓｅｄ．
Ｅｘａｍｉｎｉｎｇ　ｔｈｅ　ｄｉｓｃｒｅｐａｎｃｙ　ｂｅｔｗｅｅｎ　ｔｈｅ　ｐｌａｎ　ａｎｄ　ｔｈｅ　ｒｅａｌ　ｔｏ　ｄｅｔｅｒｍｉｎｅ　ｔｈｅ　ｃａｕ
ｓｅ　ａｎｄ　ｍａｋｅ　ｎｅｃｅｓｓａｒｙ　ｃｏｒｒｅｃｔｉｏｎｓ．
Ｅｘａｍｉｎｉｎｇ　ｔｈｅ　ｅｍｐｌｏｙｅｅ　ｐｅｒｆｏｒｍａｎｃｅ　ａｎｄ　ｅｘｅｃｕｔｉｖｅｓ　ｔｏ　ｓｐｏｔ　ｆｌａｗｓ　ａｎｄ　ｉｎｅｆｆｉｃｉ
ｅｎｔ　ｐｏｉｎｔｓ　ｉｎ　ｔｈｅ　ｓｙｓｔｅｍ．
Ｅｓｔａｂｌｉｓｈｉｎｇ　ＫＰＩｓ　ｆｏｒ　ｅｍｐｌｏｙｅｅｓ　ａｎｄ　ｅｖａｌｕａｔｉｎｇ　ｗｈｅｔｈｅｒ　ｏｒ　ｎｏｔ　ｔｈｅｙ　ａｒｅ　ｍｅｔ．

Ｓｏｕｒｃｅ：　Ｔｉｔｍａｎ，　Ｓ．，　Ｋｅｏｗｎ，　Ａ．　ａｎｄ　Ｍａｒｔｉｎ，　Ｊ．，　２０１４．　Ｆｉｎａｎｃｉａｌ　Ｍａｎａｇｅｍｅｎｔ．　７ｔ
ｈｅｄ．　Ｂｏｓｔｏｎ，　ＭＡ：　Ｐｅａｒｓｏｎ　Ｅｄｕｃａｔｉｏｎ．

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 BSBFIM601 Manage Finances ACTIVITIES

Student Re-Assessment
Acknowledgement Form
Assessment 1

BSBFIM601 Manage Finances

Please complete this sheet and retain as evidence of submission of re-
assessment.
Student Name
Student Number
Date

Please check all questions that have been asked to complete have been
attempted before signing
Trainer Signature
Date Re-Submitted

Student Copy

TEAR HERE

Student Assessment
Acknowledgement Form
Assessment 1

BSBFIM601 Manage Finances

Please complete this sheet and retain as evidence of submission of assessment
ANIBT strongly recommend that you retain a photocopy or an electronic copy of
your work, which can be re-submitted if necessary.
Student Name
Student Number
Date
Group name
Please check all questions have been attempted before signing

Assessment handed in by due date

Assessment handed in late

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