BSBFIM601â€“Project Information 1
Version 1.0 â€“ May 2016
Southern Cross Education Institute
BSBFIM601 Manage Finances
BSB60215 Advanced Diploma of Business
Information for students for Assessment Task 3 â€“ Project
Assessment Task 3 â€“ Project
You are to refer to the Bounce Fitness Documentation that was used during Assessment
Tasks 1 and 2. The same documentation will be required for this Task.
â€¢ Read this assessment task and complete all requirements.
â€¢ Presentation must be in PowerPoint – a minimum of eight slides
â€¢ Presentation should be engaging to ensure it holds audience attention
â€¢ Presentation is 15 minutes in duration with an additional five minutes for questions
â€¢ You are also required to convert your PowerPoint slides into a PDF and uploaded
through Moodle by the due date.
â€¢ Use of correct grammar and spelling is required to demonstrate foundational skills
â€¢ Use APA referencing when using or quoting other sources
â€¢ Read this report assessment task and complete all the requirements.
â€¢ Your response is required to be typed and converted into a PDF and uploaded
through Moodle by the due date.
â€¢ You are to work in pairs for this report assessment
â€¢ Word count is 500 words +/- 10%
DUE DATE â€¢ The trainer/assessor will inform you of the due date
Continuing from your earlier report as well as the Bounce Fitness Documentation that was used to
complete Assessment Tasks 1 and 2, the same documentation will be required for this Task. Bounce Fitness
documentation can be found below:
Bounce fitness is planning to open a new centre at Adelaide. You have been given some additional
â€¢ The new centre is 50% capacity of Brisbane centre.
â€¢ Income from casual attendance is 30% of Brisbane centre for the first 6 months and increases to
40% of Brisbane centre.
BSBFIM601â€“Project Information 2
Version 1.0 â€“ May 2016
Southern Cross Education Institute
â€¢ Income from memberships is 20% of Brisbane centre for the first 6 months and increases to 25% of
â€¢ The centre was unsuccessful in selling any equipments and clothes.
â€¢ The variable expenses needs to be adjusted to its capacity.
â€¢ The fixed expenses shall remain the same.
â€¢ Advertising, Payroll and Supplies are the only variable expenses in the centre while the remaining
expenses are fixed.
â€¢ There are no professional fees.
â€¢ Team Building fees is discretionary and they have to pay $1000 per month.
â€¢ Owner has decided to contribute $20,000 per month for first 6 months.
â€¢ BAS is lodged Quarterly – (assuming that expenses do not have GST component).
You need to:
a. Prepare a budget for Adelaide Centre by taking above information into consideration, as well as
ensuring that you comply with statutory requirements and the companyâ€™s budget policy.
b. Present the budget in front of the class and your assessor. Ensure that the powerpoint presentation
is interactive and you are able to gain their approval to pass the budget successfully.
In the presentation, you need to highlight the following key processes:
1. How will you circulate budgets and ensure managers and supervisors are clear about budgets,
reporting requirements and financial delegations.
2. Consult and inform all relevant personnel (class mates) in relation to decisions on resource
3. What changes you would like to incorporate in the budget for the purpose of making the centre
4. How will you manage risks by checking there are no chances for misappropriation of funds and
that systems are in place to properly record all financial transactions?
5. How will you revise the budgets to deal with contingencies?
6. How will you incorporate accounting audit trails to identify tracking and discrepancies between
agreed and actual allocations?
7. What software would you recommend Bounce Fitness should use to ensure accurate tracking
and identification of any discrepancies. Why did you recommend this financial software?
8. Prepare recommendations for any financial support from the Head Office to make the centre
What to submit for assessment
1. A budget covering the requirements for Part A
2. A presentation for the budget addressing points 1 to 8 for Part B.
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