Assessment instructions The 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).
Subject Title Financial and Commercial Literacy Subject Code ACC101A Assessment Title Budget Report Graduate Capabilities List the graduate capabilities being developed in this assessment GC1 – Professional Expertise GC3 – Innovative Problem Solving GC6 – Independent self-management GC7 – Technology and information literacy Learning Outcome/s (found in the Subject Outline) a. Identify the terminology and […]