Circulation of the budget

Reference no: EM13933005

Your tasks Using the information below, and that provided in Assessments 1 and 2, your task is to prepare reports about how you plan to implement the budget you prepared in the previous assessment (Assessment 2). You are required to prepare a written report that addresses the following two points. 1. The circulation of the budget Part of your role is to ensure that all budgets are circulated to the correct people and that they are clear about the budget expectations and the reporting requirements, along with delegation of financial responsibility. Include in your report the following information. • Who the budgets will be circulated to. • Who financial responsibility is delegated to. • How often reporting should take place. 2. Controls and audit trail The general manager is also concerned that there needs to be proper controls (reporting methods) in place to insure that budget problems are quickly identified if they arise, and that an audit trail can be easily maintained. Your report should have advice on how this should be done. Include in your report details on the following information. • What controls will need to be in place to ensure that all financial transactions are recorded properly, and that funds are not misappropriated. • How an audit trail will be maintained. • How discrepancies (variances from budgets) will be identified and managed. Background information XYZ Company is a Travel Agency that operates at an inner city location and caters for different and/or unusual holiday ideas. The company has started to promote to different market sectors to expand their operations by MartinCollege DE1120 Manage Finances Assessment 3 page 121 providing eco-tourism opportunities along with the more traditional holiday types. The key people in the company are: The general manager: Amanda Booth The sales manager: Terry White The accountant: This is you

Please use the information from the files Assignment 1 & Assignment 2 to complete the report for this answer.

Reference no: EM13933005

Questions Cloud

Summarize the key points of the two theories : Focus on the areas where the theories differ, describing how they would need to be adjusted in order to be integrated with each other.

What should be the maximum allowable weight : If we want a 0.99 probability that the elevator will not be overloaded whenever 8 members are randomly selected as passengers, what should be the maximum allowable weight?

Determine the cost using a target costing methodology : A new product is being designed by an engineering team at Golem Security. Several managers and employees from the cost accounting department and the marketing department are also on the team to evaluate the product and determine the cost using a targ..

Based on the percentages computed in requirements a and b : Based on the percentages computed in Requirements a and b, did CPK's performance get better or worse from 2009 to 2010?

Circulation of the budget : The circulation of the budget Part of your role is to ensure that all budgets are circulated to the correct people and that they are clear about the budget expectations and the reporting requirements, along with delegation of financial responsibil..

Does triangulation offer the qualitative methodologist : Does triangulation offer the qualitative methodologist who is conducting a grounded theory or narrative inquiry study a similar reduction in the likelihood of overlooking important results? Why or why not?

Role of science and technology in economic activity : Describe how the second industrial revolution of the late nineteenth century differed from the first industrial revolution of the late eighteenth and early nineteenth century with regard to two of the following:

How do quality expectations in healthcare relate to ethics : Think about the word quality and its use in healthcare settings. How do quality expectations in healthcare relate to ethics and the type of ethical decision making used by healthcare professionals and providers on a daily basis

To determine if the application is calculation properly : Make sure the number of units for each package is numeric, and is not negative.

User Account

All Pages