Unit assessment pack (uap)

7. 
   What should a budget focus on, for a restaurant chain whose objectives are:
   

1. 
   Opening one new outlets each six month
   
2. 
   Building up the restaurant brand
   

8. 
   Explain the importance of analysis and presentation of budget options and recommendations in clear format. Answer in 50 – 100 words.
   

9. 
   Explain any three (3) ways to circulate and communicate a draft budget to colleagues and managers for input. Write your answer in 100 – 150 words.
   

3. 
   How can you negotiate with colleagues on budget requirements and incorporate any agreed modifications, according to organisational policy and procedures? Write your answer in 100-150 words.
   

10. 
    Explain in brief, an approach to complete a final budget, in a clear format and within designated timelines? Write your answer in 100-150 words.
    

11. 
    How would you inform colleagues of final budget decisions and applications, in line with reporting and financial management responsibilities, within your relevant work area?
    

12. 
    How can regularly reviewing a budget, to assess actual performance against estimated performance, assist in the preparation of accurate financial reports? Write your answer in 50-100 words.
    
13. 
    Explain the term ‘financial commitments’ and reason to incorporate these into budgets and budget reports. Write your answer in 150-200 words.
    

4. 
   What are the four (4) steps to investigate and manage significant budget deviations? Write your answer in 100-150 words.
   

5. 
   Explain the importance of analysing the changes in the internal and external environment and making adjustments to mitigate any variation/deviation? Give two (2) examples for each. Write your answer in 150-200 words.
   
6. 
   Explain how collecting and recording relevant information, helps in future budget preparation. Write your answer in 50-100 words.
   

7. 
   Explain the following types of budgets that are prepared by management in organisations. Explain your answer in 50 - 75 words for each.
   

1. 
   Cash budgets
   
2. 
   Cash flow budgets
   
3. 
   Departmental budgets
   
4. 
   Event budgets
   
5. 
   Project budgets
   
6. 
   Purchasing budgets
   
7. 
   Sales budgets
   
8. 
   Wage budgets
   
9. 
   Whole of organisation budgets
   

8. 
   List and explain any ten (10) common budget terms used in relation to preparing and monitoring budgets, within an organisation.
   

14. 
    Outline any three (3) accounting software packages, which can be used for preparing and monitoring a budget. Answer each, in 50-100 words.
    

9. 
   Explain the following with 100 – 150 words each:
   

1. 
   Budget formats, budget performance and financial reports
   
2. 
   Financial reporting procedures and cycles
   

10. 
    Explain any four (4) techniques for creating budget estimates in 25 – 50 words for each.
    

11. 
    List any seven (7) common reasons for deviations and explain how to manage budget deviation.
    

Assessment Task 1 – Unit Knowledge Test (UKT)

Student and Trainer/Assessor Details

Unit Pre-Assessment Checklist (UPAC)

UAT 2 – Unit Project (UP) – Preparation of draft budget

Purpose of the checklist

• 
  Please make sure you have completed the necessary prior learning before attempting this assessment.
  
• 
  Please make sure your trainer/assessor clearly explained the assessment process and tasks to be completed.
  
• 
  Please make sure you understand what evidence is required to be collected and how.
  
• 
  Please make sure you know your rights and the Complaints and Appeal process.
  
• 
  Please make sure you discuss any special needs or reasonable adjustments to be considered during the assessment (refer to the Reasonable Adjustments Strategy Matrix and negotiate these with your trainer/assessor).
  
• 
  Please make sure that you have access to a computer and the internet (if you prefer to type the answers).
  
• 
  Please ensure that you have all the required resources needed to complete this Unit Assessment Task (UAT).
  
• 
  Due date of this assessment task is according to your timetable.
  
• 
  In exceptional (compelling and compassionate) circumstances, an extension to submit an assessment can be granted by the trainer/assessor.
  
• 
  Evidence of the compelling and compassionate circumstances must be provided together with your request for an extension to submit your assessment work.
  
• 
  Request for an extension to submit your assessment work must be made before the due date of this assessment task.