Debtor management project

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Reference no: EM133019520

BSBFIM501 Manage budgets and financial plans

Assessment Task: Debtor management project

Task summary
This assessment task requires you to review and evaluate financial management processes.

Complete the following activities:

1. Write an Aged Debtor Report for the CEO.
Analyse the information in the Aged Debtor Summary.
Note that the company's usual terms are payment 14 days from invoice.

Research best practice debtor management and then an Aged Debtor Report.

Your report should include:
• An outline of the information in the Aged Debtor Summary.
• What this says about the company's aged debtor processes.
• At least 5 recommendations that could be adopted by the company in response to your analysis. This should be based on the debtor management research you conducted.

Your report should be approximately 1 page long.

2. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should introduce and summarise the contents of the attachment, and seek their approval to implement best practice debtor management processes.

Attach your aged debtor report to the email.

3. Implement debtor management procedures

Assume that the CEO advises that in response to your recommendations that a debtor management procedure should be developed and implemented in relation to customer invoices.
You are required to develop a simple debtor management procedure for customer payments. It should include a range of simple steps from a friendly reminder to sending a formal letter of demand. Your procedure should be approximately one page and be sent to the CEO (your assessor via email).

4. Monitor debtor management procedures

Assume it is six months later and you are required to review a summary of current aged debts to determine the effectiveness of the implementation of the debtor management procedure. Review the Aged Debtor Monitoring Summary. Compare it against the previous Aged Debtor Summary to determine the effectiveness of the procedure.

5. Send an email to the CEO (your assessor).
The text of the email should be in grammatically correct English, written in an appropriate (polite, business-like) style.
It should summarise your findings regarding your analysis of the Aged Debtor Monitoring Summary.

Attachment:- Manage budgets and financial plans.rar

Reference no: EM133019520

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