t

PlanandTini.-lir:.i,rrprc]lill'ationofbuclgetforBizOpsforFinancial \rer l.r

Itrl-r
Pl rn Tinrelini

l.Preparation of budgets tya3n6

31103/16
- Director aad managers meeting regardlfig following year projected
-;-..- -: ,::-', iit'.
is.-:::':e,l Buisets
Department ixanagers to present complete budget to director tor
revierr and approval

2. Preparation of budget types 16 to

l(l16
- Sales budget, production budge! cash flow budget, marketing budget
and project budget.

3. Develop budget policies and guidelines through considenn_e BizOps l5 ::

goals and objectives, past result and performance, internal strengths and l-r 1 ,-r 1
r5
threats, and selecting a budget period.

4. Meeting with budget committee

- Communi@tingbudget policies and guidelines

- Identiffbudget cost centres
- Identiff constraints
- Coordinate forecasts and budget
- Monitor and implementation of budget

5. Prepare assumptions and forecast

6. Functional and subsidiary budgets

, Budget and Approval

Tr
S, Publish and implement budget

9. \Ionitor and revielv

 Bizops - Finance PIan for the Next 5 Years (in S)
2015-16 201.5-17 2017-18 2018-19 20t9-?A'
lrcome S-r-:-- l.rC S 172,5oo,ooo S r98,375,000 5228,1_31.,250 5262,350,927
!xpenCrture : -*- ::: l:10 $L46,725,000 s 158,618,750 s 193,875,000 s222,998,297
P rof it ) :::::430 $ 25,775,00a s 29 756,250 ( ?,.1
JA)LJJ,LJJ
rq( rqn s 39,352,640
I

Reinvest S 1: :-: ClO S 19,331,250 q lf 211144

J L-,J r//aUO \
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lncome Expenditure
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Direction for future budget

1. Sales budget

2. Production budget

3. Marketing budget

4. Market share and market standing report

5. Project budget

Project budget is a prediction of costs associated with parricular intemal projects that include
iabour, materials and other specific tasks budgets assigned to different departments. By
establishing a project budget, BizOps ensure that there are srfficient funds for each project to
work and also understands to rough estimation of all overall projects. ttrtthg into consideration
that BizOps intends to increase their revenueby 15Yo, project budget will then develop different
budget like marketing budget, sales budget, cashflor*'budget *'d etc. to ensure that Bizops will
be able to increase the total revenue by l5%.

2
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1.:. -< ...-:--. l.'.--:lt erlcl phone sale outlets that sell (...) The to11t .' -:.: :r:r. .',

-.-:r:-.-;; i..r; a,i eralr iln::;r:l statetlent in r ear 201 6 to 201 7.

Net profit before interest and taxationri= EBIT

tr \et Profit Margin
Net sales (: total income r
' 100

Net profit after tax(: NET income)

I \et Profit Ratio 7o = Net sales(: total income)
x 100.'

3 Cash f lon'return on assets (ROA)

_ Cash florv from operating activities(= total cash inc /dec .r

Total assets

Net profit(: NET income)

4 Return on owner's equity ratio : x 100
Average owner's equity(: total equity)
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- - : - :. =..-.- -:.r:.. 11.-iq,,ou.hichisSl-;.-180.000.

r- - -'. -:-.-:r-. r-::i::)=l e\perlses increas..d bl'13.300 $'hicir is Sl5.-561,000
i.::- :- .t I:. .i-- .:.: :-- C3,-rease byrl.Sloo rihich is -5673.000.
C:r::. :l - \i trends

$ 134 $1
$ 111,831,000.00 $ il7,716,000.00 $ 132,913,000.00 $ t:+,r+spoo.oo s HS"3S0JO0.00
60,180,000.00 $ 66,682,00 $ 70,192.000.00 $ 76,78?,000,00
34,102,000,00 $ l';:1 : 37,786.000.00 $ 39,776,000,m $ 439i7,000.00
r.mlmm; i;:;

CashEe!d;$30'598'000.00$33,l71'000,00$13,025,o00.00ss:ffi

\ote: Analyze and explain the above table

2016n7

Cash flow solvency =

NP after tax * Depreciation 1.8920 + 4B3Z
Total liabititiE- = = o'78
-Jbstr-
Cash flow from operating activities 5575
Cash flow margin - N.tr;1., 100 =-urg*x 100 =3'23o/o

Cash flow return on assets (ROA)

Cash flow from operating activities(: total cash inc./dec.
)
-xassets
Total
5575
: 1.4o/o
388479
Conclusion

BizOps overall financial report has made a lost despite having an increase of total income. This
is due to (. . .)

Recommendation

1. BizOps human resource manager should control the overhead of the organizations. This
*ill ensure that the expense ofsalary is not over the given budget.
2. (...)
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Risk rrranageirient plan tenrplate

Background:

Context:

g
: -: ,-: - ^l
fz 1:3 3 Ctr.sll:r.i
Page 1 of 5
'4
 =:

Risk Inanagernelt plan ter-;-:- =-.e

ldentification and ana lvsis

Expec::: ,', occur regularly)

B Probac = .', occur at some stager

C Possible i:1, i occur

D lmprobab: t3- : :t,l-'c-r: u:tlikelY)

E Rare (may cccur but in limited situations)

l,loderate

7;
,7'
O Aspire Training & Consulting Page 2 of 5
.< Document date: Aprii 20'15

t,,,:i: I r,.,::i ;:::: .::i,ntl

 ,a\

-.. S-, '-'='^

=;ellent plan tenrplate
Risk caiegcrjsation matrix

1 2 3 4 5
(ln s ign ificant) (Minor) (Moderate) (Major) (Catastrophic)
AiExpectedl ,.,._ _ l.ledlum High Extreme Extreme
B (Probable) ..: .
Medium High Extreme
C (Possible)
Low ,
=,
J Medium High High
I

D (lmprobable)
Low I
^., Medium Medium High
E (Rare)
Low Low High lrledium

Risk categorisation table

t1,..:r'..\- :.-f- T.i:: :_ ;i

$reo,cdouro a,d roainlon,

t OF equ;pmenb 3 frtacbioeS

.<. OF S bqe-s

7l r1.

4 Page 3 of 5
 Risk rnanagenrent plan ternpiaie
Ris k control/treatrnent

Activity:

Br.acAoruo a AA4r ,r far'>Ce O ezPLi?roe.o I

. Slorage OF Sfa6P

Control measure

q O Asoire Training & CcnsullirE

Docunrent date: Apn 2C'1 5
Page 4 of 5
Ris- - :'. j=--eitt plan iertrplate

Page 5 of S

fiil
II'JJ
 Rq

Audit Checklist

Yes \o Comment
Financial software
ls data entry checked regularlr") a tr
Do software has a backup record? ! tr
Are all accounting records. including invoices recorded into
system regularly? D !

Is software updated on a regular basis? tr !

Is cument software meeting the needs of the management? ! tr

Managing risks of misappropriate of funds

Are audits done regularly? ! tr
Is cash handling separated from data entry? tr !
Is banking of cash done by only one empioyee? tr !
\\hile handling big sum of cash. are the ri.ork check br
I
another employee? tr tr

.\re ordering and invoicing separated? tr n

\Iaintaining Audit Trail
Is all business documents pre-numbered so all documents are
accounted for? n !
Is audit traii done twice yearl tr tr

-{re passrvords of account systems changed on a resular basis? ! tr

Complying rvith due dil tr tr

Are appropriate processes in place to periodically assess

compliance with legislation and key Government policies? ! n

Are all process in place are followin g organizations policies

and procedures? ! tr
 \.'

Internal control checklist

Internal controls \.es No Comment

Policies and Procedures
Is budget guidelines established? n !

Is financial policies communicated to ali emplo-vees? n tr

Have you monitor budget throughout planning. executing and evaluation stages? n tr

Is ratio analysis done on regular basis? tr tr

Bizops personnel
Is BizOps code of conduct clearly communicated to all employees. u'hich include ! n
training on ethical standards?
Are the employees informed of their responsibilities regarding: tr n

Access to data. computer systems and files? tr !

Security and confidential use of, information? tr tr

Are procedures been der.eloped to investigate any unauthorized access to n tr

information, computer systems and files?
Are procedures in place for staff to report any over-ride or breach of controls? tr !
Are there procedures in place to ensure management acts on an)'reported breach tr n
of controls?
Ad ua of Internal Controls
Are the controls o\ier access to the BizOps information and communication n tr
technology (ICT) systems monitored and tested on a regular basis?

Do the internal control procedures over financial processes include: tr tr

Adequate segregation of duties? ! tr

Appropriate approval and authorization of transactions? ! !

Timely reconciliation of accounts and balances? ! tr

-\l1budget reviewed and approved by a management? tr tr

- -\re appropriate processes in place to penodicalll' assess cornpliance u'ith

! al
-:_:rslation and key Government policies?
Is break-even analysis summited? n tr
 Project Guidelines

BSBFlM501 Manaee Finances

1. BizOps Budget for next Financial Year (20161 2017)

Plan Timeline

2. Bizops - Finance Plan for the Next 5 Years (in $)

lnclude graphs and histogram for income, expenditure, profit and reinvest

o Direction for future budget - one page document

3. Financial Report
Introduction
Ratio Analysis
BizOps Horizontal Analysis
BizOps variances in profit and loss budget
Cash Flow trends
Conclusion
Recommendation
1. Cash flou'Forecast 2016-2011
5. Profit and Loss \\rorksheet 2016-17
6. Balance Sheet Budget 2016-11
7. Risk Management Plan

Priority Risk Likelihood I m pact Level of risk

o Risk control

/l
 Risks

Control
Control measure Strength Weakness
measures/

t reatm e nts

lmpact of
risk/s on
areas outside
your
responsibility
Personnel
involved
Expected
outcomes of
risk
treatment
plan

Activify Details Responsibility Timeline

11. Risks of funds misappropriations and discrepancies plan

Priority Risk Likelihood lmpact lnternal controls

12. lnternal control checklist

13. Audit Checklist