Unit assessment pack (uap)
S no.1 Negotiated item
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- Navigate this page:
- Linen type Price per item ($) Quantity
- Expense budget Expense item ($)
- Beverage item Cost per item per bottle/serve ($) Forecasted requirements
- Additional expenses % of revenue / amount
- No. of tickets Ticket price
- Profit/loss Part C
- Expense Amount $ Comments
- Budgeted September October
Part B For this part, use MS Excel for calculation and preparing of final budget. Assume, based on the negotiation and interaction with the event committee, the following decisions are made: Ticket prices is confirmed as $200.00 per person. Increase advertising allowance to 2% and printing to 0.5%. Increase room decoration expenses to $2,500. Reduce lighting and audiovisual expenses by $1,000 each. Remove chair covers and overlays for the event. Confirmation from major liquor supplier on free supplies of wine for the event in return for acknowledgement on printed materials like menus and posters. Confirmation from the catering equipment supplier to provide free supply in return of same acknowledgements. Prepare the final budget to incorporate the agreed changes in a clear and timely format. The updated linen expense budget:
Updated expense budget:
Updated beverages cost:
Updated event budgets Based on the information provided above and changes in additional expenses, update the event budget.
Revenue from the ticket sale
Updated Event budget:
Part C Email the updated budget to the event committee members, finance manager, Food & Beverage manager and colleagues, focusing on relevant work areas, including reporting and financial management. (Refer to PR2.4 for email addresses/ask your trainer or assessor)
Part D For this part, use MS Excel features as accounting software. Assume that the budget has been approved, and it is now the middle of November. The entertainment group has confirmed that they will donate the remaining $2000 to charity. The current expenses and fund collection by ticket sale is as provided below: Please see the below expense report source:
Analyse the recent income and expenditure information and review the budget to assess the performance against the estimated budget. Analyse the changes in the environment and make the necessary adjustments.
Identify the areas of deviation, investigate them and take appropriate actions.
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