61945 – Subject Title Financial and Commercial LiteracySubject

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Title Financial and Commercial Code ACC101AAssessment Title Budget ReportGraduate CapabilitiesList the graduate capabilities being developed in this assessmentGC1 – Professional ExpertiseGC3 – Innovative Problem SolvingGC6 – Independent self-managementGC7 – Technology and information literacyLearning Outcome/s (found in the Subject Outline) a. Identify the terminology and concepts that underlie the preparation of general-purpose financial reportsb. Summarise financial statements to support decision makingc. Explain the information needs of managementd. Compare the various components of budgetsAssessment type (group or individual) IndividualWeighting % 40%Word count / Time limit 1,000 – 1,500 wordsDue day Week 10 Sunday 11:55pmSubmission type Turnitin ?Format / Layout of Report:ICMS Cover PageTable of ContentsIntroductionBodyConclusionReference List??????Assessment instructionsThe success of a business is often dependent on its ability to effectively manage its Master budget. The Master budget is a collection of interrelated budgets, each related to one or more business units of the organisation. The performance of each business unit manager is thereby influenced by their budget/s.Your task is to write a report on the significance of the Master budget on the success of a business. As part of your report, you are required to explain:1. THREE (3) of the budgets of the Master Budget (one of them being the Cash Budget) and how they relate to each other. (400 – 600 words)2. TWO (2) business units (i.e. departments within a business) and how their manager’s performance is affected (i.e. judged or gauged) by at least ONE of the budgets mentioned above. (300 – 500 words)3. How adherence to the budget affects the business’ overall profitability. (i.e. how and why budgeting in business is important). (100-200 words).In addition to an and conclusion (100 words each), your report should be between 1,000 and 1,500 words. You are also required to use in-text referencing and a reference list using APA referencing.Readings for the assessment Refer to your resources for Topics 7 – 10.Grading Criteria / Rubric refer to the table provided below:Assessment 4 – Marking RubricCriteria HD (85-100) D (75-84) CR (65-74) PASS (50-64) FAIL (0-49)Understanding and comparison of the budgets of anorganisation (30%)Demonstrates outstanding understanding of three (3) key budgets of an organization, with excellent comparisons made. Demonstrates very good understanding of three (3) key budgets of an organization, with good comparisons made. Demonstrates sound understanding of three (3) key budgets of an organization, with reasonable comparisons made. Demonstrates satisfactory understanding of three (3) key budgets of an organization, with some comparisons made OR demonstrates very good understanding of two (2) key budgets of an organization, with good comparisons made. Demonstrates an unsatisfactory understanding of the budgets of an organization, with poor or no comparisons made between them.Explanation of the implications on the performance of business unit managers (30%) Provides a comprehensive explanation of the implications of budgets on two (2) business unit manager with examples strongly demonstrating the effect on their performance. Provides a strong explanation of the implications of budgets on two (2) business unit manager with examples demonstrating the effect on their performance. Provides a good explanation of the implications of budgets on business unit managers with an example demonstrating the effect on their performance. Provides an explanation of the implications of budgets on at least one business unit manager. Provides a poor and/or limited explanation of how business unit managers are affected by budgets.Discussing the effect of the budget on the business’ overall profitability(20%) Concisely discusses the impact of the budget onthe business’ overall profitability with excellent observations. Discusses the impact of the budget on the business’ overall profitability with very good observations. Concisely discusses the impact of the budget on the business’ overall profitability with good observations. Concisely discusses the impact of the budget on the business’ overall profitability with satisfactory observations, Poorly discusses the impact of the budget on the business’ profits with unsatisfactory and/or limited observations.Report (20%)? Terrific structure that includes all sections required and the report in general has an outstanding flow, perfect spelling and grammar, and accurate referencing. Very good structure that includes all sections required and the report in general has a good flow, spelling and Sound structure that includes all sections required and the report in general has a reasonable flow, mostly accurate spelling and grammar, and referencing. Some structure that includes most sections required and the report in general mostly accurate spelling and grammar, and referencing. Flow is good in sections, but not Poor structure that does not all sections required. Asignificant amount of spelling and grammar errors, and poor flow in general. Referencing is either not included or poorly executed.grammar, and accurate referencing. so in the report in general.

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