Title: Forecasts and Budgets Preparation of Business and Performance Monitoring標題：預測和預算編制的業務和性能監控
 

Unit Outcomes, Assessment Criteria, and Grading Criteria:單位的成果，評估標準，分級標準：
 

Outcome
 

No(s) 　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Assessment Criteria
3. Prepare forecasts and budgets for a business.對于一個企業準備預測和預算。  　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　3.1 Explain the nature and purpose of the budgeting process.3.1解釋的性質和宗旨的預算編制過程中。
3.2 Select appropriate budgeting methods for the organisation and its needs.選擇適當的預算編制方法的組織和它的需求。
3.3 Prepare budgets according to the chosen budgeting method.英國金融學dissertation根據所選擇的預算編制方法編制預算　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　3.4 Prepare a cash budget.編制現金預算
4. Monitor performance against budgets within a business. 對一個企業的預算范圍內的監控性能。 　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　4.1 Calculate variances, identify possible causes and recommend corrective action.計算差異，找出可能的原因和建議的糾正措施。
4.2 Prepare an operating statement reconciling budgeted and actual results.準備一個協調預算和實際結果的聲明。　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　4.3 Report findings to management in accordance with identified responsibility centres.
 

M1 Identify and apply strategies to find appropriate solutions
Identify the first task in the budgetary process and discuss how this will provide the solution to determine the following budgetary steps.  
M2 Select/design and apply appropriate methods / techniques
Design your company’s planning and control cycle method.
M3 Present and communicate appropriate findings
Research the advantages of standard costing and communicate these findings in a clear and concise method.
D1 Use critical reflection to evaluate own work and justify valid conclusions
Reflect on possible goal congruence and dysfunctional decision making made by managers in your company and justify the decisions you made to remove these members from your staff base.
D2 Take responsibility for managing and organizing activities
Take responsibility for the rationale behind your decision to manage budgets in an imposed style rather than that of imposed style.
D3 Demonstrate convergent/lateral/ creative thinking
Present methods on how you would eliminate high levels in cost wastage due to idle time that you have discovered while carrying out direct labour cost variance analysis.
 

Scenario
 

After successful years of running your own company you have realized several problems, in particular, in forecasting and budgeting, due to rapid growth. To fix this growing problem you have decided to hold training sessions on budgeting and forecasting for your financial department. This problem is partly due to the fact that most of your staff are recent graduates who you feel do not understand the complexity of the situation. To counterbalance this reality you have decided to give the new employees an in-depth training experience and also a pre-training report. Your aim in this assignment is to produce a clear and concise pre-training report, as previously mentioned, to give to your new employees in preparation for their in-depth training experience 

　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Assignment Tasks: Criteria:
Task One:
To begin with you have decided to explain the nature and purpose of the budgeting training process.

Task Two:
Showcase budgeting methods and in particular, the one you have decided to use in your company.
  
Task Three:
Prepare the budgets you will use in your training and showcase them in your pre-training report.

Task Four:
Prepare a cash budget with an explanation.

Task Five:
Calculate variances, identify possible causes to adverse results and recommend corrective action.

Task Six:
Prepare an operating statement reconciling budgeted and actual results.

Task Seven:
Explain how you will report your findings to the two above tasks to management in accordance with identified responsibility centres. 
 

GRADING CRITERIA:
 

The Unit will be graded into Pass, Merit and Distinction against the following criteria:
Pass: A pass grade is achieved by meeting all the requirements defined in the unit outcomes.
Merit: In order to achieve a Merit grade, you should achieve all the Pass criteria and also M1, M2, M3
　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　　Distinction: In order to achieve a Distinction grade, you should achieve all the Pass criteria, Merit Description and also D1, D2, D3
 

ASSIGNMENT REQUIREMENTS:
 

All assignments must be word-processed using Times New Roman (12 point) and stapled in the top left hand corner. Page numbers must be included at the bottom of each page. Secondary sources should be acknowledged using the Harvard Referencing System.Your report should be between a minimum of 1500 and maximum of 2000 words.

Plagiarism is an academic offence!  The contents of this assignment must be your own work. Where you refer to ideas other than your own you must acknowledge this by appropriate referencing.