MANAGE BUDGETS AND FINANCIAL PLANS
ASSESMENT 1
MANAGE BUDGETS AND FINANCIAL PLANS
KEYLA NIEVES
1) Using your current workplace or a simulated workplace where you are the manager, describe the following:
A. The name of the organisation and the types of business activities.
Maykala Restaurant: preparing and serving food to clientele.
B. Your work team and your main responsibility in the work team.
Food production: Chef
Gaming
Restaurant supervisor
Bar head person
C. The types of budgets and financial plans that you are responsible for or able to access.
The different types of budges that we are responsible are the Marketing and production budgets as well as the cash flow plan.
2. Select one of the budgets or financial plans outlined in question 1. The budgets and financial plans might include but are not limited to budgets, ageing summaries, cash flow, petty cash, GST, and profit and loss statements. You are required to attach a copy of the documents.
A. Identify the relevant personnel you will consult to seek clarification or to propose changes to the budgets or financial plan to.
To consult or seek any clarification it’s important to check with the proper personal, for example, if there’s a problem with the foods budget The chef go to the manager and the
Manager to human resources department
B. Explain how you will ensure that the documented outcomes in the budgets or financial plan are achievable, accurate and comprehensive.
3. Part of the financial management involves contingency planning. Based on the budgets and financial plan from question 1 and 2.
A. Give an example or describe a situation where you have encountered issues or problems that have or might affect your work teams operation. What are the consequences towards the original work plan?
If someone gets hurt in the workplace, we may need to get a new person to cover the role of the one injured, this may affect on the time, workplace operations and the budget.
B. Explain the contingency plan you have or would
MANAGE BUDGETS AND FINANCIAL PLANS
KEYLA NIEVES
1) Using your current workplace or a simulated workplace where you are the manager, describe the following:
A. The name of the organisation and the types of business activities.
Maykala Restaurant: preparing and serving food to clientele.
B. Your work team and your main responsibility in the work team.
Food production: Chef
Gaming
Restaurant supervisor
Bar head person
C. The types of budgets and financial plans that you are responsible for or able to access.
The different types of budges that we are responsible are the Marketing and production budgets as well as the cash flow plan.
2. Select one of the budgets or financial plans outlined in question 1. The budgets and financial plans might include but are not limited to budgets, ageing summaries, cash flow, petty cash, GST, and profit and loss statements. You are required to attach a copy of the documents.
A. Identify the relevant personnel you will consult to seek clarification or to propose changes to the budgets or financial plan to.
To consult or seek any clarification it’s important to check with the proper personal, for example, if there’s a problem with the foods budget The chef go to the manager and the
Manager to human resources department
B. Explain how you will ensure that the documented outcomes in the budgets or financial plan are achievable, accurate and comprehensive.
3. Part of the financial management involves contingency planning. Based on the budgets and financial plan from question 1 and 2.
A. Give an example or describe a situation where you have encountered issues or problems that have or might affect your work teams operation. What are the consequences towards the original work plan?
If someone gets hurt in the workplace, we may need to get a new person to cover the role of the one injured, this may affect on the time, workplace operations and the budget.
B. Explain the contingency plan you have or would