How to Manage Your Money||Assignment

Running head: MANAGE FINANCES
Manage Finances
Name of the Student:
Name of the University:
Author’s Note

MANAGE FINANCES1
Table of Contents
Assessment Task 1.....................................................................................................................3
Part A.....................................................................................................................................3
Introduction............................................................................................................................3
Different Types of Budgets....................................................................................................3
Analysis of Budgets...............................................................................................................6
Part B......................................................................................................................................8
Statutory Requirement for Tax Compliance..........................................................................8
Compliance Requirements.....................................................................................................9
Financial Management Software............................................................................................9
Principles of Accounting......................................................................................................10
Implication of Probity..........................................................................................................10
Critical Dates for the Business.............................................................................................10
Items recommended for the Budget.....................................................................................11
Modified Internal Control Measures....................................................................................11
Assessment Task 2...................................................................................................................12
Variance Report for the Business.........................................................................................12
Revenue Collected from Debtors.........................................................................................13
Issues Identified...................................................................................................................14
Variance Analysis................................................................................................................14
Recommendations................................................................................................................15

MANAGE FINANCES2
Financial Management Strategy Issues................................................................................15
Reference..................................................................................................................................16

MANAGE FINANCES3
Assessment Task 1
Part A
Introduction
The analysis which is conducted is for the business of Houzit for which detailed
review would be conducted so that any variances which take place can be identified along
with the reasons associated with the same. The discussion would be showing different kinds
of budgets which is prepared for effective planning for the business (Brigham & Ehrhardt,
2013). In addition to this financial management practices for the business would be analysed
if the same is efficient or not. The different budget which is prepared is to ensure
transparency and efficiency is maintained in the operations of the business.
Different Types of Budgets