Reference no: EM13343645
a) The purpose of this assessment task is to evaluate your ability to maintain continuous checks on expenditure and evaluate outcomes.
Instructions:
Give an example of how cash flow and creditor payments are monitored on a daily basis.
b)
Purpose:
The purpose of this assessment task is to evaluate your ability to prepare and analyse final cost reports.
Instructions:
Given the assessment responses you have produced above along with the 5 pack estimate and rate break up summaries, produce the following:
(a) a forecast final cost management report comparing budgets with final expenditure
(b) a report on the effectiveness of comparing actual with budgeted costs
(c) a procedure for monitoring and supervising staff responsible for producing costing data and financial reports
(d) a report on budget vs. final cost detailing reasons for variance for both budget cost overruns and surplus for future management action and how effective this is.
(e) a report on what remedial action can be taken during a project to ensure financial compliance
(f) a report on what remedial action would be required on completion of an unfavourable financial report with respect to standard company rates and pricing structures
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