SITXFIN004 Budget Monitoring And Review Project Assessment – Australia

Assessment Task 3: Budget monitoring and review project
Information for students
In this task you must review budget figures action deviations and report on these as part of monitoring and review processes.
You will need access to:
your learning resources and other information for reference
Marketing Expenditure Report
Marketing Budget Analysis and Recommendations Report template.
SITXFIN004 Budget Monitoring And Review Project Assessment – Australia

SITXFIN004 Budget Monitoring And Review Project Assessment - Australia

Ensure that you :-
review the advice to students regarding responding to written tasks in the Hospitality Works Student User Guide comply with the due date for assessment which your assessor will provide adhere with your RTO’s submission guidelines answer all questions completely and correctly submit work which is original and where necessary properly referenced submit a completed cover sheet with your work avoid sharing your answers with other students.

Assessment information :-
Information about how you should complete this assessment can be found in Appendix A of the Hospitality Works Student User Guide. Refer to the appendix for information on:

where this task should be completed

how your assessment should be submitted.

Note: 
You must complete and submit an assessment cover sheet with your work A template is provided in Appendix B of the Student User Guide How ever if your RTO has provided you with an assessment cover sheet please ensure that you use that.

Activities :-
Complete the following activities.
• Carefully read the following scenario:

Assume it is twelve months later and you are reviewing the marketing budget against actual amounts using the Marketing Expenditure Report.

Note: that the company deems a standard variance in budgets of up to 5% acceptable.

You have also been recently informed that a competitor has set up a resort in the near by area and you are required to assess how this will impact the marketing budget for the following year.

• Develop a Marketing Budget Analysis and Recommendations Report

Review the marketing budget expenditure to assess actual performance against estimated performance.

Based on your review and using the accounting software prepare a report that shows actual expenditure against budgeted expenditure. Include graphs to make your report clear.

SITXFIN004 Budget Monitoring And Review Project Assessment – Australia

SITXFIN004 Budget Monitoring And Review Project Assessment - Australia

Save this report as Marketing Performance Budget Report.

Prepare an accompanying report Marketing Budget Analysis and Recommendations Report that analyses:

Projected budget and actual budget
Deviations from the budget
Reasons for deviations
Recommendations for next year’s budget based on marketing performance and new competitor.
Use the Marketing Budget Analysis and Recommendations Template to guide your work.

• Send an email to management

The text of the email should be in grammatically correct English written in an appropriate polite business like style.

It should introduce and summarise the contents of the attachments.

Attach the following to your email:
Marketing Budget Performance Report
Marketing Budget Report Analysis and Recommendations

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