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  • Assessment Task 2 - Part A Financial Performance Report

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    kanchan
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    Grow Management Consultants saw a significant increase in net revenue from 2015-16 to 2016-17, with net revenue growing from $700,000 to $800,000. Consulting fees and publications also increased substantially over this period. Expenses rose in 2016-17 compared to the previous year, with major increases seen in office cleaning, travel, e-books, marketing costs, and conference expenses. Going forward, wages and utility costs are expected to continue increasing annually, so financial planning needs to carefully account for these rising trends and costs. The management software also requires upgrading to effectively track additional expenses and support the company's growing digital initiatives.

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    financial report

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    Assessment Task 2 - Part a Financial Performance Report

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    Grow Management Consultants saw a significant increase in net revenue from 2015-16 to 2016-17, with net revenue growing from $700,000 to $800,000. Consulting fees and publications also increased substantially over this period. Expenses rose in 2016-17 compared to the previous year, with major increases seen in office cleaning, travel, e-books, marketing costs, and conference expenses. Going forward, wages and utility costs are expected to continue increasing annually, so financial planning needs to carefully account for these rising trends and costs. The management software also requires upgrading to effectively track additional expenses and support the company's growing digital initiatives.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    31 views3 pages

    Assessment Task 2 - Part A Financial Performance Report

    Uploaded by

    kanchan
    Grow Management Consultants saw a significant increase in net revenue from 2015-16 to 2016-17, with net revenue growing from $700,000 to $800,000. Consulting fees and publications also increased substantially over this period. Expenses rose in 2016-17 compared to the previous year, with major increases seen in office cleaning, travel, e-books, marketing costs, and conference expenses. Going forward, wages and utility costs are expected to continue increasing annually, so financial planning needs to carefully account for these rising trends and costs. The management software also requires upgrading to effectively track additional expenses and support the company's growing digital initiatives.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 3

    Financial performance report:

    Grow Management Consultants is a consultancy business specializing in leadership consultancy and is


    showing continuous promising growth in coming years.

    The Net Revenue Growth of 2015-16 & 2016-17 are shown below:

    Net Revenue
    $900,000

    $800,000

    $700,000

    $600,000

    $500,000 Net Revenue

    $400,000

    $300,000

    $200,000

    $100,000

    $0
    2015-16 2016-17

    The main areas of increase in revenue in 2016-17 vs. 2015-16 are shown below:

    $1,450,000

    $1,400,000

    $1,350,000

    $1,300,000

    $1,250,000 2015-16
    2016-17
    $1,200,000

    $1,150,000

    $1,100,000

    $1,050,000
    Consulting Fees
    $16,000

    $14,000

    $12,000

    $10,000

    $8,000 2016-17
    2015-16
    $6,000

    $4,000

    $2,000

    $0
    Publications

    Increase in expenses in 2016-17 Vs 2015-16

    $5,300
    Office cleaning charges
    Travel and Accommodation $5,654
    E-book $10,000
    Desktop publishing $3,000
    Marketing (e-book) $1,200
    Conference venue and catering $10,000
    Speaker fees and travel $11,000
    Marketing (conference only) $7,500
    Conference bags $1,200
    Conference casual project officer $30,000

    Total - $ 84,854 increase in Charges in 2016-17

    - Wages and fees has also shown sharp increase in 2016-17 leading to increase in expenses
    mostly occurs due to change in government policies and other Institutional decisions.

    In coming years the trend on wages, utility charges, and commercial media charges etc. going to
    increase at same rate and need consideration in every subsequent year financial planning to have
    realistic plans and goals.

    - Office cleaning charges, motor vehicle charges, Contract writer (e book charges) Conference
    casual project officer, speaker fee & conference bags cost need to be looked into and can be
    reduced.
    - The new software need to be flexible and sensitive to catch additional charges and anything
    going beyond previous financial year charges should be escalated as an alert to relevant
    stakeholders for review at appropriate time required for prompt action.
    - Though much information is not available on the current software but with e-book coming as
    focus for coming financial year and digital marketing being coming into picture as competitive
    edge the internal management software for finance need to be upgraded and highly
    sophisticated.

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