Reference no: EM133019515

BSBFIM501 Manage budgets and financial plans

Assessment Task: Monitor and control finances project

Task summary
This assessment task requires you to monitor and control finances for the marketing department for King Edward VII College and provide a budget and expenditure report to the CEO.

Carefully read the following:

As per company policy, you are responsible for monitoring and recording expenditure each month.

The finance department has provided you with Marketing Expenditure, a report on expenditure for 2015/16.
There will also be some notes included to assist you to complete this task.

Note: that the company deems a standard variance in budgets of up to 5% acceptable.

Complete the following activities:

1. Update the marketing budget.
Enter the amounts in Marketing Expenditure into your budget under actual expenses.

Save this document as Updated Marketing Budget.

2. Write a report on the budget and expenditure
Your budget report should include:
• Projected budget and actual budget and variations
• Overall level of variance, as well as variance for individual marketing activities
• Reasons for overruns
• Proposed solutions for following year's budget

3. 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 attachments.

Attachment:- Manage budgets and financial plans.rar