MANAGE FINANCE 4 MANAGE FINANCE

Running head: MANAGE FINANCE
Manage finance
Name of the student
Name of the university
Student ID
Author note

1MANAGE FINANCE
Table of Contents
Assignment 1...................................................................................................................................2
Part A...............................................................................................................................................2
a. Development of budget.........................................................................................................2
b. Development of budget notes...............................................................................................4
Part B...............................................................................................................................................5
1. Statutory compliance for complying with tax......................................................................5
2. Liabilities and compliance as per Corporation Act 2001.....................................................5
3. Software for financial management......................................................................................6
4. Accounting principles...........................................................................................................6
5. Implication of the term probity.............................................................................................7
6. Initiatives and critical dates..................................................................................................7
7. Recommendation for including items...................................................................................8
8. Modified list in context of internal control...........................................................................8
Assessment 2...................................................................................................................................9
a. Budget related issues............................................................................................................9
b. Variance................................................................................................................................9
c. Comparing financial performance......................................................................................11

2MANAGE FINANCE
d. Recommendation................................................................................................................12
e. Procedure for financial management..................................................................................12
Reference.......................................................................................................................................13

3MANAGE FINANCE
Assignment 1
Houzit Pty Ltd that is located in Brisbane carries on its operations through 15 retail
chains. Dealing in homeware products, it is the leading retailer that caters to the requirement for
offering renovated and new dwellings in greater Brisbane area. Aim of the task is to prepare the
budget for the entity and compare the same with actual income and expenses to find out the
variances (Sazonov, Lukyanova & Popkova, 2013).
Part A
a. Development of budget
Budget of sales and profit