Subject Code : FNS60217
Assessment Task:

A company’s board of directors are responsible for maintaining good corporate governance. There are important policy and performance elements to these responsibilities. The board of directors is the guardian of fairness, transparency and accountability in all of the major financial and business dealings of the company, defending the interests of investors and wider stakeholders.
Fly Me High Travels International launched its operations on 1 January under the name of Fly Me High Travels Australia. The agency specialises in providing cheap tickets to customers via its one national store located in Sydney and an online store. It also deals in selling wholesale tickets to other agencies. 

The company has set the following KPIs for its operations:
•    Increase total sales by 10% every month
•    Advertising expenses to remain the same for next 6 months
•    Wages and salaries to be decreased by 5% every quarter
•    Online sales to be increased by 15% each month
Open stores in all capital cities in Australia within the next 3 years

Complete the following activities:

1.    Write a budget report.
You are required to plan a report that can be presented to the directors of the company by the end of August. The objective of the report is to assist the directors in making further decisions on the business expansion and meeting business compliance requirements.
The report should be in clear and concise English to facilitate understanding by the Directors.

Review the case study information provided above and the Fly High Budget and develop a report that addresses the following points:
•    What are the outcomes of the budgets for the first six months’ operation in Australia?
•    Was the company able to achieve its KPIs? Explain why or why not.  
•    Is the business complying with ATO requirements and reporting in a timely and efficient manner?

 

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  • Posted on : November 12th, 2018

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