Reference no: EM133035458

BSBFIM801 Manage financial resources

PART A - Short answer questions:

Question 1. Why do organisations expect their managers to act with integrity in financial dealings at all times? Express your view on this with reference to‘financial probity and ethics'.

Question 2. Unsatisfactory performance results failure in reaching and achieving the goal of a business organizations. Identify five corrective actions that management need to take to ensure the situation is rectified.

Question 3. Explain why financial records for previous years could be important to keep in business organization. Identify what are the basic financial records that the Corporations Act 2001 may require a company to maintain?

Question 4. The Privacy Act 1988(Clth) deals with the responsibility that organizations have in relation to the security and confidentiality of customer's personal information. Describe the privacy principles that need to be followed by private sector organizations.

Question 5. Maintaining an audit trail will often help to identify discrepancies in the system. Identify key reasons behind the discrepancies between agreed and actual allocations of funds and resources.

Question 6. An organisation analyse the performance reports in order to take corrective action when required. Identify various methods used by an organisation for analysing reports with examples.

Question 7. List the various statutory functions of the Australian Securities and Investments Commission Act 2001.

Question 8. What procedure should you recommend reviewing financial risk management activities of the place where you work.

Question 9. What are the factors that are impacting deviation form an organizational budget? What adverse effects are happening for these budget deviations?

Question 10. What are the steps in developing action plans to remedy significant deviations from budget objectives and projections.

Part B- Calculation

1.ABC Corporation has sales for the period of $3500,000 with a cost of goods sold of $900,000 and administration costs of $400,000.
The depreciation charge is $400,000 and the interest paid is $500,000.
Calculate:
a. Cash Flow
b. Gross Profit
c. Net Profit
d. Operating Profit
e. Profitability Ratios

2. After completion of a meeting with each of the department managers for Roberto and sons, the below various results about the 2018 were extracted:

Financial Planning
Fees are earned from 1450 clients paying on average,$750 per annum
Department manager is paid a $141720 wage that is charged directly to the department.
Each of the three client liaison officers are paid $77450 per annum

Business Acquisition
Fees earned from 20 acquisitions paying on average $ 42000 per acquisition.
Department manager is paid a $145000 wage that is charged directly to the department.
The business brokers are paid 20% commission on fees earned.

Book Keeping Services
Fees earned from 359 clients paying on an average$200 per months.
Department manager is paid a $141720 wage that is charged directly to the department.
Direct wages for the department is made up of the business brokers being paid 25% commission on fees earned.

Required: Calculate the Departmental Revenue and Profit.

3. Below is the extract of financial information from ABC Manufacturing Pty Ltd for the year 2018.

Required: Prepare Cash Flow Statement for ABC Manufacturing Pty Ltd using the Direct Method.

Attachment:- Manage_financial_resources.rar