Establish a policy for evaluating business performance

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Reference no: EM132165094

Evaluate and develop business performance

Performance Evidence

Evidence of the ability to:
- analyse trends in business performance using standard accounting techniques
- develop performance indicators and identify options for improvement
- monitor performance indicators and document options for improvement
- establish organisational objectives, policy and procedures.

Knowledge Evidence
To complete the unit requirements safely and effectively, the individual must:
- discuss ethical considerations relating to conflict of interest, confidentiality and disclosure requirements
- identify the key principles and methods of:
- valuation
- capital budgeting analysis and investment analysis
- cost -benefit analysis and use of performance ratios or comparison techniques.

Case study

Back to assessment task 3, you are the CFO of "Angel Clothing Co. ltd" are required to prepare a report to evaluate and develop performance indicators to improve the business in accordance with financial statements and performance. David Ferguson has taken over "Angela Clothing Pty Ltd" as the new CEO to run the family business.

David has asked the CFO to prepare financial statements and performances to assess and evaluate financial activities and performances in order to develop and improve the business.

Objectives:
1- Consistently high levels of customer services
2- High professional work environment for staff
3- To be able to supply high quality products to Australia wide and New Zealand.
4- To develop and maintain internal and external workplace relationship networks
5- To implement and use new technologies for better and efficient standard of services
6- To provide safe workplace environment for all staff
7- To comply and follow Australian regulations, codes of standards, government bodies, ethics, codes of conducts and etc.
KPI's:
1- Sale and market share to be consistently increased annually (7%)
2- Expenses to be increased annually (2%)
3- Comply with AASB for accurate and reliable financial reports
4- Implement new technologies to improve cash flow

You are the CFO of company and ordered to prepare all reports, please find financial performance data and ratios below:

ASSESSMENT QUESTIONS
Part A
Executive Summary
- A summary of your report and what you will be submitting in the following pages (Min 60 words)
- The top-line findings (Min 4 bullet points)
- The types of information you will need to gather for David to make the final decision. (including a summary explanation why each piece of information is necessary, 45 words each - at least 4 types of information)

Part B
A 360 Degree Analysis
A brief knowledge aboutAngela Clothing Pty Ltdobjectives, targets,plans, expertise, experiences. (50 words)

Part C
Main part

1. Discuss how you make sure that all financial data provided are accurate, valid, and reliable and comply with statutory requirements and standard financial reporting principles? (60 words)

2. Assess and evaluate financial performance and ratios? And determine and explain what are weaknesses and strengths of the business? (min 10 ratios analysis, 40 words each)

3. Identify key performance indicators in regards with the business's objectives, resources and environmental factors (min 3 items)?

4. Explain how you developand monitor components of performance indicators to improve and promote financial activities and performances through a realistic with available time frames and resources? (an action plan required and min 100 words)

5. Apply the KPI's rate on the profit and loss budget 2011.

6. Discuss how you develop and implement communication strategies to improve operational goals and needs? (an action plan required and min 100 words)

Part D

7. Establish a policy for evaluating business performance for Angela clothing Pty. Ltd. and its brief procedure (40 words).

8. Establish the objectives of the new policy and procedure for Angela clothing Pty. Ltd. (40 words).

Part E
Conclusion
Describe your evaluation and inform your professional performance indicators development in aligned with Angela Clothing Pty.Ltd.'s financial needs and objectives. (Min 70 words)

Part F
Recommendations
Provide financial evaluation and options to David by mentioning 4 strength areas of financial performance and also 4 weakness areas that could be improved. (Min 70 words)

Part G
Workplace Evidence
Provide evidences of your workplace such as payslips, ID card, emails or pictures, etc.

Attachment:- Evaluate Business Performance.rar

Reference no: EM132165094

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Reviews

len2165094

11/13/2018 1:24:15 AM

4. Did the learner explain how you develop and monitor components of performance indicators to improve and promote financial activities and performances through a realistic with available time frames and resources? (an action plan required and min 100 word) 5. Did the learner apply the KPI’s rate on the profit and loss budget 2011? 6. Did the learner discuss how you develop and implement communication strategies to improve operational goals and needs? (an action plan required and min 100 words) PART D – Policy and procedure • Establish a policy for evaluating business performance for Angela clothing Pty. Ltd. and its brief procedure (40 words). • Establish the objectives of the new policy and procedure for Angela clothing Pty. Ltd. (40 words). Part E–Conclusion • Did the learner describe your evaluation and inform your professional performance indicators development in aligned with Angela Clothing Pty Ltd’s financial needs and objectives. (Min 70 words)

len2165094

11/13/2018 1:24:05 AM

PART C –Main Body 1. Did the learner discuss how you make sure that all financial data provided are accurate, valid, and reliable and comply with statutory requirements and standard financial reporting principles? (60 words) 2. Did the learner Assess and evaluate financial performance and ratios? And determine and explain what are weaknesses and strengths of the business? (min 10 ratios analysis, 40 words each) 3. Did the learner identify key performance indicators in regards with the business’s objectives, resources and environmental factors (min 3 items)?

len2165094

11/13/2018 1:23:54 AM

Final Assessment Report: Evaluate and develop business performance PART A – Executive Summary • A summary of your report and what you will be submitting in the following pages (min 60 words) • The top-line findings ( min 5 bullet points) • The types of information you will need to gather for the owner to make the final decision. (4 types, 45 words each) PART B - A 360 Degrees Analysis (about Angela Clothing Pty Ltd) • A brief knowledge about Angela Clothing Pty Ltd’s objectives, targets, plans, expertise, experiences. (60 words)

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