Budget review project assessment

Reference no: EM133169395

Assessment Task: Budget Review Project

Task summary
This assessment task requires you to review Grow Management Consultants' Profit and Loss and Cash Flow statements for 2017-18.

Required
• Computer and Microsoft Office
• Access to the internet for research
• Profit and Loss 2017/18
• Cash Flow Statement 2017/18

Carefully read the following:

It is now 1 year later and you are required to review the profit and loss account for 2015 - 2016, as well as the cash flow statement.

The Principal Consultant has also asked you to focus on reviewing the conference costs as, while there was very positive feedback from the conference and the company wishes to run it next year, there needs to be revisions to the budget and a potential price increase for the conference fee to make the conference profitable.

The Principal Consultant would like you to report on a proposed conference fee given a 10% increase in all the recorded costs for the conference as shown in the profit and loss statement (and that match the conference costs for the document you reviewed in Assessment Task 2) and assuming 70 people will attend the 2017 conference. The Principal Consultant would also like a 20% return on the conference costs.

Complete the following activities:

2. Write a financial performance report.
Analyse the information provided in Profit and Loss 2017/18 and Cash Flow Statement 2017/18.
Based on your analysis, develop a short report for the Principal Consultant that includes
• Review of overall performance and gross/net profit margins.
• Calculation of variation in actual versus budgeted amounts for each income source.
• Calculation of variation in actual versus budgeted costs, focusing particularly on conference costs.
• Recommended revisions to the budget for conference costs for 2017/18.
• Proposed conference fee for 2018 conference assuming attendance of 70 people and to make a profit of at least 20%.

3. Send an email to the Principle Consultant (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.

Reference no: EM133169395

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