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
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