Assessment Task 2: Operational planning, monitoring and reviewing project
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- Analyse the information provided in the interim Profit and Loss Account including:
- calculation of net profit or loss for each campus
- calculation of variances between actuals and budgeted expenses – noting that variances of up to and including 10% are acceptable and do not need to be reported
- Based on your analysis of the profit and loss account, develop a short report to send to the CEO that:
(a). outlines financial performance based on the figures in the profit and loss account
(b). identifies variances higher than 10%
(c). compare the performance of each campus
(d). recommends solutions in relation to expenditure items where variances are higher than 10%
(e). seeks a variance to the original operational plan – due to the large number of enrolments – to recruit two new Academic Managers, one for each campus
Ensure your report is structured in a logical format that makes use of headings. You may also include graphs and charts to visually represent your data. Submit your report to your assessor
- Based on your review of the expenditure on energy usage as documented in the profit and loss account, you are required to develop and send a memo to all staff with regard to effective and economical use of resources. The purpose of the memo is to coach staff in using resources wisely and so you should include at least 10 simple actions that all staff can follow to conserve energy.
St. Xavier’s College – New campuses Profit and Loss Report
Staffing
Student numbers have been higher than expected. The current Academic Manager is struggling to keep up with the work. He has requested the appointment of two additional Academic Managers immediately.
Financial
The following profit and loss statements are provided.
Profit and Loss – six months to Dec 21 – Brisbane
| Budget | Actuals | |
| Income: Sales | $450,000 | $475,000 |
| Electricity and gas | $1,500 | $3,000 |
| Internet | $1,000 | $1,100 |
| Office supplies | $700 | $1,200 |
| Rent | $200,000 | $190,000 |
| Stationary | $800 | $1,300 |
| Wages and salaries | $115,000 | $117,000 |
| Superannuation expense | $15,000 | $16,000 |
| Travel and accommodation | $2,500 | $2,700 |
| Water | $2,000 | $2,600 |
| Work cover insurance | $900 | $900 |
Profit and Loss – six months to Dec 21 – Canberra
| Budget | Actuals | |
| Income: Sales | $350,000 | $410,000 |
| Electricity and gas | $1,200 | $2,800 |
| Internet | $1,100 | $1,100 |
| Office supplies | $650 | $1,300 |
| Rent | $100,000 | $100,000 |
| Stationary | $700 | $1,250 |
| Wages and salaries | $115,000 | $117,000 |
| Superannuation expense | $15,000 | $16,000 |
| Travel and accommodation | $2,100 | $2,300 |
| Water | $1,900 | $2,100 |
| Work cover insurance | $870 | $870 |
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