Reference no: EM132383988

FNSACC511 Provide Financial And Business Performance Information Assignment - Sydney Metro College, Australia

Instructions - Please read all instructions on completing each assessment. All written answers must be typed in a word document using Arial font, 12 size and single spacing.

Task 1: Theory Assessment

Instructions -

1. Type all the answers in a word document if required.

2. You can conduct internet research to answer these questions.

3. Provide explanation of 2-3 lines when answering 'Describe' questions.

4. Provide detailed workings for calculations questions.

5. Provide answers in table format wherever possible.

Question 1 - Question and Answers

Answer the following questions in writing.

1. Research the relevant Australian financial legislation and explain the following terms:

a) Deductions

b) Allowances

c) Charges

2. What key areas can cause significant taxation issues?

3. Compare and contrast two forecasting techniques.

4. Identify and explain the key features of the Australian government financial policy.

5. Identify and explain the key features of secretary's financial management instructions.

6. Explain the key requirements of relevant corporations.

7. The Australian Consumer Law (ACL) is to protect the customers or clients. Discuss the ACL and the relevant legislation.

8. List four (4) methods for presenting and formatting financial data.

9. What is a cash flow statement and what does budgetary control mean?

10. Identify and categorise sources of information on financial products and markets.

11. Outline a range of risks and contingencies and risk management options relating to financial and business performance.

12. List three (3) of the legislations that protect client's rights and responsibilities that a business must comply with. Outline client rights and responsibilities.

Task 2: Case Study and Practical Assessment

Instructions

1. Type all the answers in a word document if required.

2. You can conduct internet research to answer these questions.

3. Provide explanation of 2-3 lines when answering 'Describe' questions.

4. Provide detailed workings for calculations questions.

5. Provide answers in table format wherever possible.

Question 1 - Molly Smith

Review the information provided in appendix 'Case Study - Molly Smith' and undertake the following steps.

1. Write a draft email with a list of three to five questions that you are going to ask Molly. Draft email should have the following points.

a) Appropriate greeting

b) Introduce yourself

c) Email purpose statement

d) Confirm details of the client

e) Three to five questions you would like to ask Molly that will help you get an even better understanding

2. Search online and identify specific legal and financial requirements when establishing, structuring and financing a business.

3. Set out an action plan for Molly Smith detailing the actions to be taken to meet her objectives. Consider any statutory obligations to be adhered. Include a timeframe where applicable.

4. In your meeting with the client, you have identified that Molly Smith has changed her business address. Who does she need to inform? Conduct a role-play with your assessor. Your assessor will be acting as Molly Smith. She doesn't know what to do now.

The role-play should take five minutes. You should demonstrate the following:

• Guide Ms Molly Smith through clear communication and advise what to do
• Answer any questions that she may have
• If you are unable to answer, refer her to appropriate sources

Communication strategies should include the following:

• Use active listening and questioning techniques to elicit the views and opinions of your client and to confirm understandings
• Uses appropriate formats, language, tone and pace when providing advice and conveying information to clients

Assessor will access the following during the role play:

• Demonstrated ability to clear communicate clearly and provide accurate and valid advice to meet client's need.
• Where appropriate, referred clients to appropriate sources
• Used active listening and questioning techniques to elicit the views and opinions of your client and to confirm understandings
• Used appropriate formats, language, tone and pace when providing advice and conveying information to clients

5. What actions would you take to monitor client objectives to identify changes in client needs?

6. Regularly obtain, analyse and incorporate feedback on client services.

7. Investigate shortfalls in customer service and formulate and implement proposals for overcoming them.

Question 2 - LMB Motors

Analyse the financial information provided in appendix 'Case Study - LMB Motors' and undertake the following.

a) Detail what authorities / personnel / sources you would have to consult with to ensure the financial data provided is accurate and complete. How would you reconcile the financial data to confirm accuracy?

b) Undertake a vertical analysis of the LMB income statements for the years ending December 31, 2014 and 2015.

c) Based on the above analyses, calculate following ratios and comment on the financial performance of LMB in the last financial year:

1) Debt-to-equity ratio

2) Return-on-investment ratio,

3) Current ratio

d) Using the financial data provided in the 2015 financial report, comment on what funding requirements would be required in the future to continue the same rate of growth over the last financial year. Ensure analysis is consistent with LMB Motors objectives.

e) Undertake evaluation to assess financial potential of LMB Motors, its future funding requirements. List the various statutory obligations of the company.

f) Based on the analyses completed above prepare a detailed written advice (at least 500 words) for the Management of LMB regarding the following:

1) Summary of financial performance for the year ending December 31, 2015.

2) List of financial risks that should be considered - e.g. Debtor default, stability of global economy, operating costs etc.

3) For the above risks, outline options for contingencies - e.g. Insurance options, investment options etc.

4) Give advice or recommendations on how LMB can ensure they do not have another similar loss of cash at the end of the next financial year.

5) Details regarding the rights and obligations of LMB management. Ensure you include all relevant laws such as corporation law, legislative protection, contract law, privacy law, taxation legislation etc.

6) List of alternative sources of short and long term investment, giving a brief description of each as per there current circumstances and future needs.

Question 3 - Information Analysis

Review the information provided in appendix 'Case Study - Anthony Bowman' and answer the following questions.

1. What are the client objectives?

2. What are the business assets?

3. What is the size of the business?

4. What type of business is it?

5. What information is included as extra?

Attachment:- Financial And Business Performance Assignment File.rar