Business Organisation & Management YEAR 11 SEMESTER TWO 2012

1

ASSESSMENT: Formative


ITEM NO: 5


CRITERIA:

Knowledge &


Understanding



Reflection Processes




Action Skill



DATE

DUE:
August 24, 2012


DRAFT DATES:
September 7, 2012


LENGTH:
1000


-

15
00
words



INDIVIUAL WORK




COMMON CURRICULUM ELEMENTS




Recalling/remembering



Structuring/ organizing an extended written test



Explaining to others



Interrelating ideas



Reaching a conclusion



Compiling results in a tabular form



Interpreting data



Extrapolating



Analysing



Synthesising



Judging/evaluating



Justifying



Using vocabulary
appropriate to a context



Using correct spelling, grammar and punctuation



UNIT:
Financial

Management











Business Organisation &

Management


YEAR 11


SEMESTER TWO

2012



NAME:


STUDENT NUMBER:



TEACHER:
Mr.

Tim Price









2

CRITERIA
–

KNOWLEDGE AND UNDERSTANDING


STANDARD A

STANDARD B

STANDARD C

STANDARD D

STANDARD E

Student demonstrates
a comprehensive
knowledge and
understanding of the
key
Financial

Management

concepts
as evidenced by a
thorough explanation
supported by
examples of:




The role & key
objectives of
financial
management



Budget planning &
control



Risk management

Student demonstrates
a
substantial

knowledge and
understanding of the
key
Financial
Management

concepts
as evidenced by a
significant

explanation
supported by
exam
ples of:




The role & key
objectives of
financial
management



Budget planning &
control

Risk management



Student demonstrates
a
some
knowledge and
understanding of the
key
Financial
Management

concepts
as evidenced by a
general

explanation
supported by
examples of:





The role & key
objectives of
financial
management



Budget planning &
control

Risk management



Student demonstrates
basic

knowledge and
understanding of the
key
Financial
Management

concepts
as evidenced by a
some
ex
planation of:







The role & key
objectives of
financial
management



Budget planning &
control

Risk management

Student demonstrates
limited

knowledge of
the key
Financial
Management

concepts
of:









The role & key
objectives of
financial
management



Budget

planning &
control

Risk management



CRITERIA
–

REFLECTION PROCESSES


STANDARD A

STANDARD B

STANDARD C

STANDARD D

STANDARD E

The student’s
response
demonstrates the
reflection processes to
conduct a thorough
evaluation of
interactions to
develop highly
appropriate strategies
for action by:


STRATEGIC PLANNING



p
reparing a
budget

strategy



Identifying &
evaluating risk
management
factors
.



Identifying &
evaluating
appropriate forms
of finance for the
scenario

DECISION
-

MAKING



establishing

financial

goals



identifying and
addressing
obstacles to
achieving financial
goals



choosing the best
options for
finance

in relation
to the scenario

I
NFORMATION
PROCESSING &
COMMUNICATION

The student’
s
response
demonstrates uses of

reflection process
es to
evaluate

interactions
and to develop
appropriate strategies
for action by:




STRATEGIC PLANNING



preparing a
budget

strategy



Identifying &
evaluating risk
management
factors
.



Identifying &
evaluating
appropriate forms
of finance for the
scenario

DECISION
-

MAKING



establishing
financial goals



identifying and
addressing
obstacles to
achieving financial
goals



choosing the best
options for
finance in relation
to the scenario

INFORMATION
PROCESSING &
COMMUNICATION

The student’
s
res
ponse
demonstrates uses of

reflection processes to
conduct some
evaluation and to
develop

strategies for
action by:




STRATEGIC PLANNING



preparing a
budget

strategy



Identifying &
evaluating risk
management
factors
.



Identifying &
evaluating
appropriate
forms
of finance for the
scenario

DECISION
-

MAKING



establishing
financial goals



identifying and
addressing
obstacles to
achieving financial
goals



choosing the best
options for
finance in relation
to the scenario

INFORMATION
PROCESSING &
COMMUNICATION

The student’
s
response
demonstrates some
use of

reflection
processes to
examine
interactions and to
develop

some
strategies for action
by:



STRATEGIC PLANNING



preparing a
budget

strategy



Identifying &
evaluating risk
management
factors
.



Identifying &
evaluating
appropriate forms
of finance for the
scenario

DECISION
-

MAKING



establishing
financial goals



identifying and
addressing
obstacles to
achieving financial
goals



choosing the best
options for
finance in relation
to the
scenario

I
NFORMATION
PROCESSING &
COMMUNICATION

The student’
s
response
demonstrates some
use of

reflection
processes by:







STRATEGIC PLANNING



preparing a
budget

strategy



Identifying &
evaluating risk
management
factors
.



Identifying &
evaluating
appropriate forms
of finance for the
scenario

DECISION
-

MAKING



establishing
financial goals



identifying and
addressing
obstacles to
achieving financial
goals



choosing the best
options for
finance in relation
to the scenario

INFORMA
TION
PROCESSING &
COMMUNICATION


3



Thoroughly
analysing &
interpreting the
situation to present
a logical argument
for
improvement



Interpreting
information from
comparative reports
& industry
standards



Presenting
information in a
fluent & precise
manner in the
REPORT genre using
the conventions of
communication



Thoroughly
analysing &
interpreting the

situation to present
a logical argument
for improvement



Interpreting
information from
comparative reports
& industry
standards



Presenting
information in a
fluent & precise
manner in the
REPORT genre using
the conventions of
communication



Thoroughly
analysing &
interpreting the
situation to present
a logical argument
for improvement



Interpreting
information from
comparative reports
& industry
standards



Presenting
information in a
fluent & precise
manner in the
REPORT genre using
the convent
ions of
communication



Thoroughly
analysing &
interpreting the
situation to present
a logical argument
for improvement



Interpreting
information from
comparative reports
& industry
standards



Presenting
information in a
fluent & prec
ise
manner in the
REPORT genre using
the conventions of
communication



Thoroughly
analysing &
interpreting the
situation to present
a logical argument
for improvement



Interpreting
information from
comparative reports
& industry
standards



Presenting
information in a
fluent & precise
manner in th
e
REPORT genre using
the conventions of
communication

CRITERIA
–

ACTION SKILLS

STANDARD A

STANDARD B

STANDARD C

STANDARD D

STANDARD E

The student’s
work

demonstrates
documented use of
action skills to
implement plans &
efficiently &
effectively achieve
specified outcomes
:


PLANNING



Reflection journal
–

depth of reflection
to validate financial
planning processes
and action skills
.



Planning schedule
–

short
-
term
objectives, monitor
progress, take
corrective action.



Critical Incident
Report
–

evaluation
of

completion of
tasks, obstacles,
time management

ADVOCATING



Presents a
persuasive written
argument as to the
financial situation of
the tour.

COLLECTING &
PRESENTING
INFORMATION



Highly effective use
of charts, graphs,
tables to present
supporting
information



Presents according
to report format,
suitable to audience

The student’s
work

demonstrates
documented use of
action skills to
implement plans
effectively and achieve
most specified
outcomes
:


PLANNING



Reflection journal
–

depth of reflection
to
validate financial
planning processes
and action skills.



Planning schedule
–

short
-
term
objectives, monitor
progress, take
corrective action.



Critical Incident
Report
–

evaluation
of completion of
tasks, obstacles,
time management

ADVOCATING



Presents a
per
suasive written
argument as to the
financial situation of
the tour.

COLLECTING &
PRESENTING
INFORMATION



Highly effective use
of charts, graphs,
tables to present
supporting
information



Presents according
to report format,
suitable to audience

The student’s

work

demonstrates
documented use of
action skills to
implement plans and
achieve most specified
outcomes
:



PLANNING



Reflection journal
–

depth of reflection
to validate financial
planning processes
and action skills.



Planning schedule
–

short
-
term
objectives, monitor
progress, take
corrective action.



Critical Incident
Report
–

evaluation
of completion of
tasks, obstacles,
time management

ADVOCATING



Presents a
persuasive written
argument as to the
financial situation of
the tour.

COLLECTING &
PRESENT
ING
INFORMATION



Highly effective use
of charts, graphs,
tables to present
supporting
information



Presents according
to report format,
suitable to audience

The student’s
work

demonstrates
documented use of
some action skills to
implement plans and
achieve
some
specified outcomes
:



PLANNING



Reflection journal
–

depth of reflection
to validate financial
planning processes
and action skills.



Planning schedule
–

short
-
term
objectives, monitor
progress, take
corrective action.



Critical Incident
Report
–

evaluat
ion
of completion of
tasks, obstacles,
time management

ADVOCATING



Presents a
persuasive written
argument as to the
financial situation of
the tour.

COLLECTING &
PRESENTING
INFORMATION



Highly effective use
of charts, graphs,
tables to present
supporting
inf
ormation



Presents according
to report format,
suitable to audience

The student’s
work

demonstrates

some

documented use of
some action skills
:






PLANNING



Reflection journal
–

depth of reflection
to validate financial
planning processes
and action skills.



Planning schedule
–

short
-
term
objectives, monitor
progress, take
corrective action.



Critical Incident
Report
–

evaluation
of completion of
tasks, obstacles,
time management

ADVOCATING



Presents a
persuasive written
argument as to the
financial situation
of
the tour.

COLLECTING &
PRESENTING
INFORMATION



Highly effective use
of charts, graphs,
tables to present
supporting
information



Presents according
to report format,
suitable to audience


4


THE CASE STUDY
:


Starving Kids Records (SK
R
) is a not
-
for
-
profit
record label that provides education, support and
opportunities for young people through the music industry. For the past seven years SK
R

has
been releasing music for emerging artists, running an all ages music venue and conducting
their annual
festivals T
he Kids are Alright and Valley Vibes
.


SKR are
planning a national tour of
Australia’s major cities
and
reg
ional towns

to promote the
latest release by
their most recent signing
Greenthief
.

The band have had a positive response
fro
m both radio and print me
dia to

the release of their earlier
singles,
‘Salad Days’ and
‘Vultures
’
,

and
the band and SKR want to capital
lse on this response by touring the band
nationally to support the release of the
new single
.


Financial documents incl
uding Budgets and Profit &

Loss Statements

have been kept
by the
band’s Management
from these tours and
they
present a mixed bag in terms of profit and loss.


The Managing Director
of SKR
has specifically asked you
, as the Financial Manager

to
prepare a
budget for the upcoming
albu
m
tour.

Due to the relative financial
risk of this tour the
Managing Director has asked that you provide a detailed budget with explanation of the
following areas:


1. An overview of your role as financial manager in association with the tour.


2. An eval
uation of the previous tours’ financial documents and performance.


3. Recommendations for the new national tour.


4. An evaluation of the financial risk of the tour and recommendations for risk minimisation and
prevention for the tour.


5. An investment s
trategy for the tour.














5

YOUR TASK
:


Your task is to prepare
a written financial report following the conventions of business report
writing. In your report you are
to address each of the six key

areas identified in the scenario.


You will be presenting this report to the Managing Director of Starving Kids Records and the
Manager of
Greenthief

as well as a potential investor/sponsor. Your report must be factual
,

highlighting positive changes
recommended as a result of your evaluatio
n of the previous tours’
financial performance.


The financial report is to be your own individual work.


You must select appropriate headings for the body of work but the following components
must

be included:



Business cover sheet



Table of contents



Biblio
graphy



Appendices (including Action Planning activities of Goal Setting/Planning Schedule,
Reflective Journal, Critical Incident Report, supporting documentation,
tour budget
planning tool,
detailed calculations)


Ongoing drafts
must be presented to your t
eacher on or before the dates indicated on the front
of this task sheet.


You will need to refer to the Criteria Sheets for each of the three criteria


ACTION SKILLS


1. Prepare a
Goal Setting/Planning Schedule
–

to establish your personal time line of
projected
milestones and actual milestones from the date of commencing the task until the due date.


2. Keep a detailed
Journal of Learning/Reflection
for the duration of the assignment. In this
journal you are to reflect on key learning experiences and yo
ur action skills throughout the
process of completing this assignment. At least
one detailed entry per week
must be recorded.


You may use the following column headings as a guide:


Date:

Description of events

Analysis & proposed future action:

(eg. What w
as done? What was

expected? Actual outcome. What

worked? What didn’t work? What I did.

坨慴 shou汤 I h慶a Tone㼠




6

3. Prepare a
Critical Incident Report
that details some significant event or turning point that has
occurred during the preparation of you
r business plan. This may be a difficulty or problem that
was encountered, how it affected the progress and how it was overcome. If there were no
difficulties the critical incident report might discuss how your time management, organizational
skills, plann
ing skills, etc. prevented any problem from developing. This must show
depth of
reflection
and
detailed analysis and discussion
of the incident and events. Your critical incident
report should be 200
-
250 words in length.



CONDITIONS




Submit to your
teacher during class on or before the due date



Present in a professional business folder or bound (
Binding
can be arranged by admin
staff

at a small cost
)



Work individually



Your work must be word processed, single line spacing and 12pt font



If you fail to
submit on the due date, without extension approval, your result will be
based on the marking of the latest draft presented.



If you need extra guidance you should see your teacher in your own time or ask questions
during lessons.



All aspects of your plannin
g must be submitted as part of your assignment. Present this
material in a separate plastic folder. Failure to submit process evidence could affect your
grade.



Your assignment must be presented before 5 pm on the
7
th

September 2012
.



Your draft may be hand
written or typed on one s
ide of A4 paper only. If you typ
e leave
room for teacher comments.



In exceptional circumstances extensions may be granted. To apply for an extension
download the application for extension form from
www.mic.org.au

and present the
signed form to your class teacher.



If you are absent on the day that your assignment is due, your assignment must reach
your teacher by 5pm of the school day on the due date unless you have successfully been
granted an e
xtension. Assignments may be emailed to your teacher and the document in
presentation folder must be submitted on your return.



Work submitted after the due date may result in an incomplete semester grade.



All work must be the intellectual property of the a
uthor. Ideas from other sources must
be noted using appropriate forms of reference. Plagiarism will be
severely
peanlised.











7

SUPPORT MATERIAL

Greenthief

VULTURES

TOUR

BUDGET
–

JULY
–

AUGUST 2011


INCOME

JULY

AUGUST

TOTAL

Ticket sales

Brisbane

Gold Coast

Byron Bay

Newcastle

Sydney

Canberra

Melbourne

Bendigo

Ballarat

Adelaide

Armidale

Tenterfield

$1300.00

$970.00

$1300.00

$1430.00

$650.00

$1950.00









$1430.00

$650.00

$970.00

$10
50.00

$650.00

$1100.00














$13 4
50.00

Merchandise

$1520.00

$1350.00

$2 870.00

APRA Royalty income

$96.00

$96.00

$192.00

Grant income

$200
0.00

$200
0.00

$4 0
00.00

TOTAL INCOME



$20 5
12.00


EXPENDITURE

JULY

AUGUST

TOTAL

Car

Hire

$800.00

$800.00

$1 600.00

Fuel

$500.00

$500.00

$1 000.00

Accommodation

$1000.00

$1200.00

$2 200.00

Meals

$1500.00

$1500.00

$3 000.00

Venue hire

Brisbane

Gold Coast

Byron Bay

Newcastle

Sydney

Canberra

Melbourne

Bendigo

Ballarat

Adelaide

Armidale

Tenterfield


$250.00

$194.00

$300.00

$286.00

$130.00

$390.00








$300.00

$150.00

$250.00

$400.00

$150.00

$0.00













$2 8
00.00

Support bands

$2400.00

$2400.00

$4 800.00

Marketing/promotion

$1200.00

$1200.00

$2 400.00

Insurance

$500.00

$500.00

$1

000.00

Merchandise production

$760.00

$675.00

$1
435.00

Miscellaneous

$250

$250

$500

Total Expenditure



$20 7
35.00

Balance



$
-
223
.00








8

GREENTHIEF

EPIDEMIC TOUR BUDGET
–

APRIL
–

MAY 2012


INCOME

APRIL

MAY

TOTAL

Ticket sales

Brisbane

Gold Coast

Byron Bay

Newcastle

Sydney

Canberra

Melbourne

Bendigo

Ballarat

Adelaide

Armidale

Tenterfield

$156
0.00

$1165
.00

$156
0.00

$1715
.00

$780
.00

$2340
.00










$1715
.00

$780
.00

$1165
.00

$2340
.00

$780
.00

$1320
.00













$17 220
.00

Merchandise

$
1825
.00

$
1620
.00

$
3 445
.00

APRA
Royalty income

$
96
.00

$
96
.00

$
192
.00

Grant income

$
1500
.00

$
1500
.00

$
3 000
.00

TOTAL INCOME



$
23 857
.00


EXPENDITURE

APRIL

MAY

TOTAL

Car Hire

$
800
.00

$800.00

$1 600.00

Fuel

$650.00

$650.00

$1 300.00

Accommodation

$1000.00

$1200.00

$2 200.00

Meals

$1200.00

$1200.00

$2 400.00

Venue hire

Brisbane

Gold Coast

Byron Bay

Newcastle

Sydney

Canberra

Melbourne

Bendigo

Ballarat

Adelaide

Armidale

Tenterfield


$250.00

$194.00

$300.00

$286.00

$130.00

$390.00








$300.00

$150.00

$250.00

$400.00

$150.00

$0.00













$2 800.00

Support bands

$2400.00

$2400.00

$4 800.00

Marketing/promotion

$2200.00

$2200.00

$4 400.00

Insurance

$1200.00

$0.00

$1 200.00

Merchandise production

$920.00

$850.00

$1 770.00

Miscellaneous

$3
00.00

$300.00

$600.00

Total
Expenditure



$23 070.00

Balance



$787.00









9

GREENTHIEF

COMBINED
VULTURES/EPIDEMIC

TOUR PROFIT & LOSS STATEMENT


INCOME

BUDGET

VULTURES

EPIDEMIC

COMBINED
TOUR
TOTAL

%
Budget

Ticket sales

Brisbane

Gold Coast

Byron Bay

Newcastle

Sydney

Canberra

Melbourne

Bendigo

Ballarat

Adelaide

Armidale

Tenterfield


Total ticket sales


$2860.00

$2135.00

$2860.00

$3145.00

$1430.00

$4290.00

$3145.00

$1430.00

$2135.00

$4290.00

$1430.00

$2420.00


$31 570.00


$1570.00

$870.00

$1120.00

$980.00

$1100.00

$1980.00

$1570.00

$520.00

$810.00

$1670.00

$710.00

$890.00


$13
790.00


$1630
.00

$980.00

$1280.00

$1570.00

$1420.00

$2 350.00

$1520.00

$680.00

$960.00

$2570.00

$820.00

$960.00


$16 740.00


$3 195.00

$1 850.00

$2 400.00

$2 550.00

$2 520.00

$4 330.00

$3 090.00

$1
200.00

$1 770.00

$4 240.00

$1 530.00

$1 850.00


$30 530.00


112%

87%

84%

81%

176%

101%

98%

84%

83%

99%

107%

76%


97%

Merchandise

$6 315.00

$2 760.00

$2

565.00

$5 325.00

84%

APRA Royalty

$384.00

$192.00

$192.00

$384.00

100%

Grant income

$7 000.00

$0.00

$3 000.00

$3 000.00

43%

TOTAL INCOME

$45 269.00

$16 742.00

$22 497.00

$39 239
.00

87
%


EXPENDITURE

BUDGET

VULTURES

EPIDEMIC

TOTAL

%
Budget

Car Hire

$3 200.00

$1600.00

$1600.00

$3 200.00

100%

Fuel

$2 300.00

$1358.00

$1466.64

$2 824.64

123%

Accommodation

$4 400.00

$1650.00

$1650.00

$3 300.00

75%

Meals

$5 400.00

$2047.50

$1985.75

$4 033.25

75%

Venue hire

Brisbane

Gold Coast

Byron Bay

Newcastle

Sydney

Canberra

Melbourne

Bendigo

Ballarat

Adelaide

Armidale

Tenterfield


Total Venue Hire


$500.00

$388.00

$600.00

$572.00

$260.00

$780.00

$600.00

$300.00

$500.00

$800.00

$300.00

$0.00


$5 600.00


$250.00

$174.00

$300.00

$196.00

$220.00

$386.00

$300.00

$150.00

$250.00

$400.00

$150.00

$0.00


$2 776
.00


$250.00

$194.00

$300.00

$286.00

$130.00

$390.00

$300.00

$150.00

$250.00

$400.00

$150.00

$0.00


$2 800.00


$500.00

$368.00

$600.00

$482.00

$350.00

$776.00

$600.00

$300.00

$500.00

$800.00

$300.00

$0.00


$5 576.00















99%

Support bands

$9 600.00

$4 6
00.00

$4 800.00

$9 400.00

98%

Marketing

$6
800.00

$2 400.00

$4 800.00

$7 000.00

103%

Insurance

$2 400.00

$1 200.00

$1 200.00

$2 400.00

100%

Merchandise

$3 205.00

$1 400.00

$1 570.00

$2 970.00

93%

Miscellaneous

$1 100.00

$623.50

$755.00

$1 378.50

125%

TOTAL
EXPENDITURE

$44 005.00

$17 379.00

$22

627.39

$40 006.39

91%

Net Income

$1 264.00

-
$637.00

-
$130.39

-
$767.39

-
61
%

Cash at bank

$4 327.00

$4 327.00

$3 690.00

$4 327.00


Closing cash

$5 591.00

$3 690.00

$3 559.61

$3 559.61

64
%


10

ASSUMPTIONS


The following is a list of assumptions that are
given for this task:




A minimum of 20 dates to be included on the tour.



No towns west of Adelaide will be included on the tour.



Minimum venue capacity is
80; maximum venue capacity is 500.



Minimum ticket price is $10; maximum ticket price is $15.



Maximum
mark
-
up on merchandise is 250%.



Average attendance cannot exceed 80%.



Grant income cannot exceed 10% of total budget.



Sponsorship cannot exceed 5% of total budget.


NOTE
–

VENUE COSTS:

-

under 100 capacity
-

$2.50 per head

-

under 500
-

$300 + $2.00 per he
ad