Student Assessment Tasks

BSBFIM501 Manage budgets and financial plan

Student Assessment Agreement

Make sure you read through the assessments in this booklet before you fill out and sign the agreement
below.

If there is anything that you are unsure of, consult your assessor prior to signing this agreement.

Have you read the assessment requirements for this unit?  Yes  No
Do you understand the requirements of the assessments for this unit?  Yes  No
Do you agree to the way in which you are being assessed?  Yes  No
Do you have any specific needs that should be considered?  Yes  No
If so, explain these in the space below.

Do you understand your rights to re-assessment? Yes No

Do you understand your right to appeal the decisions made in an assessment?  Yes No

Student name Harjeet singh

Student number 20210454

Student signature

Date 12/16/2021

Assessor name

Assessor signature

Date
Assessment Task Cover Sheet

Student Declaration
To be filled out and submitted with assessment responses

I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
I have correctly referenced all resources and reference texts throughout these assessment tasks.
Harjeet singh
Student name

20210454
Student ID number

Student signature

12/16/2021
Date

Assessor declaration
I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.

Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N

Feedback

Student result response

My performance in this assessment task has been discussed and explained to me.
I would like to appeal this assessment decision.
Student signature

Date
Question (1):
Explain the basic principle of double entry bookkeeping.

Answer:
Double entry book keeping method is a type of accounting system where each transaction is recorded in
the books of accounts in such a manner that it affects at least two accounts. Each transaction is broken
down to understand the effect and accountability it has.
Every transaction has two types of possible effects which are ‘debit effect’ and ‘credit effect’. Each
transaction has at least one debit and one credit effect. One effect is must and there can be more than
one effect.
The main principle is that debit effect will increase the asset or expense and decrease liability or equity.
On the other hand, credit effect will always decrease the asset or expense and increase liability or equity.

Question (2):
Describe the principle of cash accounting and one advantage and one disadvantage of this method of
accounting.

Answer:
Cash accounting is a method of accounting under which the transactions are recorded in the books of
accounts at the time when cash is actually received or paid. Under this method, incomes are recorded
when they are received and expenses are recorded when they are paid.
One advantage of cash accounting is that it is simple and easy to record. For any organization, it is quite
easy to track that how much cash it actually hold and paid for different transactions.
One disadvantage of cash accounting is that it may be misleading at the time when organization have
more cash received but have not paid for the expenses. It creates an illusion of high profits but in reality
there are many pending payments of expenses.

Question (3):
Describe the principle of accrual accounting and one advantage and one disadvantage of cash
accounting.

Answer:
Accrual accounting is a method of accountingunder which the transactions are recorded in the books of
accounts at the time when it happens/occurs. Under this method, it is irrelevant that when is the cash
received.
One advantage of cash accounting is that it makes it easier to know that how much cash in hand, we
have. Cash accounting deals with the cash coming in and going out.
One disadvantage of cash accounting is that it does not show the full picture of the liabilities of the
organization.

Question (4):
Explain the two accounting principles on which the calculation and reporting of depreciation is based.

Answer:
The two accounting principles on whichthe calculation and reporting of depreciation is based are given as
under:
1. Cost principle: The cost principle of accounting states that the cost of asset and the related
expenses should be based on the original cost of the asset.
 2. Matching principle: The matching principle states that the total cost of the asset should be
allocated to the depreciation expense over the life of the asset. If the cost of the asset is divided
into different portions then each portion will be allocated to income statement every year over
the full life of the asset.

Question (5):
Identify and explain three key features of A New Tax System (GST) Act 1999.

Answer:
The three key features of A New Tax System (GST) Act 1999 are as follows:
1. GST is repaid to all the parties involved in the process.
2. Any business or individual with a turnover of $ 75000 or more is required to get themselves
registered under GST.
3. The majority of transactions in the manufacturing process are subject to GST.

Question (6):
Identify and then explain the four main taxation and superannuation obligations for a business. Briefly
discuss each obligation.

Answer:
The four main taxation and superannuation obligations for a business are given as follows:
1. Australian Business Number(ABN): An Australian Business Tax Number is a number that helps
you to manage your tax and business obligations. It is used by Australian taxation office(ATO) as
a reference for your company. ABN is also used at the time of working with other firms and
government departments.
2. Pay as you go (PAYG): Pay as you go is a mechanism that allows you to pay your anticipated tax
liability in installments. Your PAYG responsibilities will be sent to you by the ATO.
3. Goods and Services Tax:GST is a 10% tax which is imposed on almost all goods and services sold
in Australia. You may need to register for GST depending on your turnover or service.
4. Superannuation Guarantee: As an employer, you have the option of either paying a specified
minimum level of superannuation to each of your eligible employees or paying an ATO fee. The
ATO's Small Business Superannuation Clearing House is a free online superannuation payments
facility that assists small firms with 19 or less employees in meeting their superannuation
responsibilities.

Question (7):
According to GST legislation, list four items that do not attract GST.

Answer:
1. Medical and Health care products and services.
2. International Mails.
3. Sales by duty free shops.
 4. Precious metals.

Question (8):
Explain the process by which a business reports GST to the Australian Tax Office.

Answer:
The process by which a business reports GST to the Australian Tax Office are given as follows:
1. If your GST turnover is $20 million or more, you must report it monthly.
2. If your GST turnover is less than $20 million, you must submit quarterly unless we have notified
you otherwise.
3. If you are voluntarily registered for GST, you must pay it once a year

Question (9):
What is the penalty rate to be applied if a supplier does not provide an ABN?

Answer:
If a supplier fails to provide their ABN, you must deduct 47% from their payment and transmit the
remainder to the Australian Tax Office.

Question (10):
A non-profit organization needs to register for GST after it has a turnover of more than how much?

Answer:
if a non-profit organization’s GST annual turnover is $150,000 or more, they must register for GST;
however, if their GST annual turnover is less, they may choose not to register.

Question (11):
List the key information that must be included on a tax invoice for sales of $1000 or more.

Answer:
1. The identity of the buyer.
2. The identity of the seller.
3. A description of items sold, their quantity, price and GST.
4. Date of the transaction.
5. The Australian Business Number of the seller.

Question (12):
Identify and explain three types of financial statements and their purposes.

Answer:
1. Income statements: Income statement is prepared to calculate the net profit or net loss of the
organization in an accounting period. It indicates the accounting performance of the
organizations. The statement starts with the sales and expenses are deducted to reach net profit
or net loss.
 2. Balance sheets:Balance sheet showsthe financial position of the firm. It includes the assets ,
liabilities and equity of the firm. Balance sheet is very important document as it shows the true
financial picture of the organization.
3. Cash flow statements:cash flow statement shows the flow of cash and cash equivalents in the
organization. It shows the cash inflows and cash outflows through the operating, investing and
financing activities.

Question (13):
Describe the type of entity that is required to have financial reports audited.

Answer:
The type of entity that is required to have financial reports auditedare given as follows:
1. All public companies: public companies may be categorized into two types which are listed
companies and unlisted companies. Both can offer shares to the public but the shares of
unlisted public companies are not officially included in the list of stock exchange.
2. All large proprietary companies:A company is said to be large proprietary company if it follows
the two out of three conditions:
a. If the value of the consolidated revenue is $25million or more in a financial year.
b. Consolidated gross assets are $12.5 million or more at the end of financial year.
c. The company has 50 or more employees.
3. All disclosing entities incorporated or formed in Australia:The disclosing entities in Australia are
those entities which are formed in Australia. They must make annual financial reports and
semiannual financial reports.

Question (14):
Explain the purpose of a financial audit and auditor’s report.

Answer:
A financial audit is performed to see whether financial statements are presented in compliance with the
established criteria. The auditor gather information to assess if the financial statements are fairly stated in
compliance with accounting rules and regulations in order to provide an opinion on whether they include
any serious mistakes and misstatements. An auditor’s report expresses a judgment on the financial
statements of a company’s legitimacy and reliability.
Auditor’s report is prepared to assure that financial statements are error free. Financial audit and auditor’s
report is very useful to provide financial information to its users.

Question (15):
Describe why companies may choose to develop budgets.

Answer:
Developing budgets is a very important task that the companies perform. Budgeting allows the business
owners to focus on cash flow, cash reduction, profit improvement and return on investment. By comparing
the budgets and the actual expenses, a firm can take necessary actions to control the activities. It aids in
the planning and management of the company’s finances. Planning is worthless if there is no control over
spending. There are no corporate objectives to pursue if there is no planning.

Question (16):
Explain the main steps in the budgeting process.

Answer:
Themain steps in the budgeting process are given as follows:
1. Setting objectives: Identifying the business objectives/goals is the first step in building a budget.
You will need to consider what you want to achieve, such as how much money you want to
generate and what would be the business plan.
2. Review the availability of resources:The second step include examining the records like balance
sheet, income statement or cash flow predictions to have an idea about the available resources.
Any current business budgets should also be considered as it can work as a base for new budget.
3. Identifying the costs associated:Now you have to identify the amount of cost which are
associated with your goals. You can use the past records to allocate costs.
4. Preparation of budgets: The final step in this process is the preparation of a spreadsheet on the
basis of resource availability and the costs associated. Budgets are supposed to use as tool at
achieve objectives.

Question (17):
List 5 ways to improve cash inflow and give examples.

Answer:
The ways to improve cash inflow are given as under:
1. Reward to customers: One of the best way to improve the cash inflow is to give rewards to the
customers who are paying fast and in cash. The examples are gifts and discounts.
2. Enhance the sales channel: By enhancing the sales channel, the firm can improve the cash
flows. Examples may be going for online sales, or sales at different venues. It will enhance the
cash inflow.
3. Go for leasing, not buying: The firm should opt for leasing an asset or any furniture instead of
buying it. Because purchasing an asset means outflow of a bulk amount of cash. While leasing is
a good option because it saves money and include repairs and maintenance also as per the
agreement.
4. Send invoices fast: If you send invoices to the customers fast, then the chances of receipts also
increases. They can’t pay if they don’t get invoice. So sending invoices to them increases the
chances of cash coming in the firm.
5. Expand payment terms: If the firm ask its suppliers to expand the payment terms then it can
hold cash for some more time which is a positive flow of cash.

Question (18):
Explain the use of electronic spreadsheets in developing budgets and give two of their key features.

Answer:
Spreadsheets are the accounting tool and used in business. The main purpose of spreadsheet is to
organize data into a proper and logical manner. Electronic spreadsheets are very fast, economical and
easy to maintain. They reduce the paperwork and organize a bulk of data in an organized manner.
Example: excel spreadsheets.
Two key features of electronic spreadsheets are given as follows:
1. Proper management of data: There is an efficient management of data under electronic
spreadsheets because it includes features like; entering data, sorting data, editing of data,
viewing of a part of data etc.
2. Display of data: There are two layers of data in the electronic spreadsheets. One layer is for
entering and editing of data and the other is for displaying of data in a proper manner.

Question (19):
Explain three key principles relating to the management of chart of accounts.

Answer:
The three key principles relating to the management of chart of accounts are given as follows:
1. Maintain uniformity between charts of account to allow comparing different results easy.
2. Examining all the assets, liabilities, expenses and revenue. It will assist in determining whether
there is data that can be removed to make management easier.
3. Maintain the same chart layout to make analyzing the aggregated data easier.

Question (20):
Explain the purpose of profit and loss statement and give two of its key features.

Answer:
The purpose of profit and loss account is to calculate the net profit or net loss. It summarizes the
revenues and expenses of the business. It is an indicator of the financial performance of the organization.
Two features of profit and loss statement are given as under:
1. Revenue
2. Cost of goods sold
Assessment Task 2 Cover Sheet
Student Declaration

To be filled out and submitted with assessment responses

I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
I have correctly referenced all resources and reference texts throughout these assessment tasks.
Harjeet singh
Student name

20210454
Student ID number

Student signature

12/16/2021
Date

Assessor declaration
I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.

Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N

Feedback

Student result response

My performance in this assessment task has been discussed and explained to me.
I would like to appeal this assessment decision.
Student signature

Date
 1. Develop a draft marketing budget:

King Edward marketing budget

Draft marketing budget (monthly)

Actual expenses
 Reasons for variances:
 Due to concerns with the design and content, as well as the necessity to improve SEO
optimization, a website overhaul has blown out.
 The incentive programmer has proven to be quite popular, with more incentive
payments than anticipated.
 A contingency budget was set aside, however it was insufficient to cover the cost
overrun.

Master marketing budget(quarterly)

actual expenses(quarterly)

I added a $30000 television advertising campaign. The following are the reasons why I chose this TV
advertising campaign: Advantages of Television Advertising Captures people's attention Combines sight
and sound and is eye-catching Encourages emotion and reaction Reaches a large, specific audience

2. Send an e-mail to the CEO:

To
The CEO

Dear sir,

Greetings

Please find the attached draft marketing budget plan for your kind review. The draft shows the
budget allocation on marketing activities.

Thanks and regards,

Harjeet singh
 3. Participate in budget meeting:
 The budget meeting has concluded. 
 The CEO is given a budget. 
 The activities of marketing were explained. 

The total amount allotted to each marketing activity, including contingencies. 

The budget for the TV advertising campaign was discussed with the CEO.

4. Revised marketing budget:

Actual expenses
 Reasons for variances:
 Due to concerns with the design and content, as well as the necessity to improve SEO
optimization, a website overhaul has blown out.
 The Student Incentive Scheme has proven to be quite popular, with more incentive
payments than projected.
 A contingency budget was set aside, however it was insufficient to cover the cost
overrun.
5. Send an e-mail to CEO:

To
The CEO

Dear sir,

Greetings

Please find the attached revised draft marketing budget plan for your kind review. The draft
shows final budget allocation on marketing activities.

Thanks and regards,

Harjeet singh
 6. Meeting with the team to discuss about the revised budget:

 The allocation of the overall budget is discussed.

 The budgets for each marketing activity were discussed.
 The amount of money set aside for contingencies was discussed.

Finance Policies and Procedures Overview

All finance transactions listed in this policy must be approved by the designated authorised person. The
transaction must be authorised by the person listed as the authorising person.

Finance transaction Authorised person

Bank account CEO
Business credit cards Business manager
Issuing petty cash Business manager
Purchasing stock Senior manager
Purchasing assets CEO
Authorising new customers Finance manager
Authorising new suppliers Finance manager
Debt collection Senior managers
Payment of invoices Senior managers

Petty Cash Policy

 Small company expenses up to $100 should be paid with petty cash.
 Vouchers for petty cash must be filled out.
 The maximum amount that can be disbursed is $100.
 A receipt should be added to the voucher when it has been approved by a Senior Manager, and
the remaining funds should be returned.
 The following information should be included on vouchers:
The date the voucher was issued;
The name of the person who issued the voucher
The amount of money dispensed and the detail of the expenses.
Is it an invoice or a receipt?
Approval person's signature,

Reconciliation Petty Cash

 The petty cash float should be settled at least once a month.
 A Senior Manager must approve the whole amount of money and vouchers.

New Supplier Policy

  Quality products, excellent service, competitive price, and prompt delivery are all requirements
for a new supplier.

Supplier Selection Background Information

 Supplier's Business Name:
 Supplier's location:
 Supplier's products/services include: (If necessary, include a list.)
 Name of the business owner/salesperson:
 How long has the supplier been in business?

Appointment of Suppliers
 The Finance Manager must approve the appointment of a new supplier.
 Once the Finance Manager has given his approval, Administration Assistance will enter all of the
supplier's pertinent information into the financial system.

Supplier Selection Review Checklist

 What are the terms of payment for this vendor?
 What is this supplier's return policy?
 Is the provider willing to provide warranties, guarantees, and other assurances?

Supplier Payment Terms

 All supplier purchases must be accompanied by a purchase order.
 The Finance Manager must review all payment arrangements with all vendors.
 Payment terms for all suppliers must be at least 30 days. Any deviation from this must be
approved by the Finance Manager.

Business credit card policy

 Once the Credit Card Authorisation Form was completed, the Use of Business Credit Card
Policy issued a credit card.
 There are no monetary advances.
 The owner should contact the finance manager if the item is lost or stolen.
 There will be no personal expenses.
 When the Finance Manager requests it or when the person is no longer an employee of the
company, all corporate credit cards must be returned to the company.

Assessment Task 3 Cover Sheet

Student Declaration
To be filled out and submitted with assessment responses

I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
I have correctly referenced all resources and reference texts throughout these assessment tasks.
Harjeet singh
Student name

20210454
Student ID number

Student signature

12/16/2021
Date

Assessor declaration
I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.

Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N

Feedback

Student result response

My performance in this assessment task has been discussed and explained to me.
I would like to appeal this assessment decision.
Student signature

12/16/2021
Date

1. Update the marketing budget

2. Writing a report on budget and expenditure.

Budget report

Marketing activity Projected Actual expense variance Variance%

budget
Website redesign $5,000 $7,000 ($2,000) 40.00
Incentive scheme $2,400 $4,400 ($2,000) 83.33
Education expo $3,300 $3,500 ($200) 6.06
Promotional $1,500 $1,500 $0 0.00
brochure
Community $2,000 $2,000 $0 0.00
sponsorship
Radio advertising $10,000 $10,000 $0 0.00
Total $24,200 $28,400 ($4,200) 17.36

Important notes:
 Redesigning a website has a 40% variance.
 Due to design and content concerns, the budget for the website revamp has been
exceeded. 
 The incentive plan has an 83.33 percent variance. 
 The student reward programme was tremendously popular, and more incentive
payments were made than projected. 
 Although a contingency budget was set aside, it was insufficient to meet the overshoot.
The overall budget was blown, with a 17.36% variance.
 Budgeting Solutions for Next Year's Budget
 To hire and receive quality service at a reasonable price, research numerous firms and evaluate
their prices, services, and previous work.
 Fixing the amount in the budget and sticking to the budget plan could be a remedy to the
incentive scheme's budget overrun.
 To avoid excessive and needless expenses, a contract with an event planning business on a
budget amount can be made. Because the contingency amount was insufficient, it was
necessary to increase it.

3. Send an email to the CEO.

To
The CEO

Dear sir,

Greetings

Please find the attached budget report and updated marketing budget for your kind review. This budget
report and updated marketing budget displays the budget variation for marketing activities as well as my
suggestion for budget overrun.

Thanks and regards,

Harjeet singh

Assessment Task 4 Cover Sheet

Student Declaration
To be filled out and submitted with assessment responses

I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).
I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
I have correctly referenced all resources and reference texts throughout these assessment tasks.
Harjeet singh
Student name

20210454
Student ID number
 Student signature

12/16/2021
Date

Assessor declaration
I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.

Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N

Feedback

Student result response

My performance in this assessment task has been discussed and explained to me.
I would like to appeal this assessment decision.
Student signature

Date

1. Performance report of king Edward college for last six months.

KING EDWARD VII COLLEGE

Profit and loss
Last 6 month performance report
Melbourne campus

Sydney campus
Summary of profit and loss

Financial Performance Analysis

Melbourne College had a profit of $109,200, and Sydney College made a profit of $75,280, for a total
profit of $184,480. Sydney College profitability was 184.29 percent. Melbourne College made a profit of
27.57 percent. Sydney College has a higher profit margin than Melbourne College. As a result, Sydney
College outperforms Melbourne College.

Variances of more than 10% in Melbourne campus

 In case of Electricity and Gas, variance was 100.00%

 In case of Office Supplies, variance was 71.43%
 In case of Stationary, variance was 62.50%
 In case of Water, variance was 30.00%

Variances of more than 10% in sydney campus

 In case of Electricity and Gas, variance was 133.33%

 In case of Office Supplies, variance was 100.00%
 In case of Stationary, variance was 78.57%
 In case of Water, variance was 10.53%
Solution of these variances

 Awareness programme on how to use power and gas more efficiently and effectively, such as
turning off lights and electric equipment after usage, and so on. 
 Staff and students should only be given appropriate and essential office materials. 
 Stationary waste should be kept to a minimum. 
 Staff and students participate in a water conservation awareness workshop.
 Also, keep an eye out near taps for proper water usage, etc.

2. Send an e-mail to CEO to show performance report.

To
The CEO

Dear sir,

Greetings

Please find the attached performance report for your kind review. This performance report shows the
overall performance and each campus’s performance along with variances.

Thanks and regards,

Harjeet singh

Assessment Task 5 Cover Sheet

Student Declaration
To be filled out and submitted with assessment responses

I declare that this task is all my own work and I have not cheated or plagiarised the work or colluded
with any other student(s).

I understand that if I If I am found to have plagiarised, cheated or colluded, action will be taken against
me according to the process explained to me.
I have correctly referenced all resources and reference texts throughout these assessment tasks.
 Harjeet singh
Student name

20210454
Student ID number

Student signature

12/16/2021
Date

Assessor declaration
I hereby certify that this student has been assessed by me and that the assessment has been carried
out according to the required assessment procedures.

Assessor name

Assessor signature

Date

Assessment outcome S NS DNS Resubmission Y N

Feedback

Student result response

My performance in this assessment task has been discussed and explained to me.

I would like to appeal this assessment decision.

Student signature

Date

1.Write an aged debtor report for the CEO

Company X
 Aged debtor analysis

Report: Aged Debtor Analysis

Client 120+days 90 days 60 days 30 days current total

Client 1 $4,356
Client 2 $2,714
Client 3 $3781
Total $2,714 $4,356 $3781 0.00 0.00 0.00

The following is a summary of the information in the Aged Debtor Summary:

According to the scenario generated by the aged debtor analysis, the company has a poor debtor
management policy and is unable to collect outstanding payments from customers.
The company's outdated debtor management procedures:
Debtors Management Procedures aid in the collection of outstanding payments and the seamless
operation of a firm without losing clients or consumers. Understanding the company's debtor
management practises is crucial and mandatory for all sales and finance personnel. The company does
not have a good debtor management policy, and it is possible that the due amount will not be collected.
Suggestions:
 Closely adhere to the company's credit policy.
 Bills should be provided at the time of delivery or within a week.
 Before conducting business with a client, the company should evaluate the client's situation and
business to see if the client is able to pay on time.
 Accounting software that is up to date should be utilised to ensure that the firm runs smoothly.
 Using an offer, entire clients and consumers to pay the necessary amount on time.

2.Write an E-mail to CEO Regarding Aged Debt Report

To
The CEO

Dear sir,

Greetings

Please find the attached revised aged debtor report for your kind review. The aged debtor report shows
the payment process and recommendations.

Thanks and regards,

Harjeet singh

3. Implementation of debtor management procedures

Purpose:
The goal of debtor management procedures is to assist the company in running its operations
smoothly by assisting with timely payment collection in accordance with the company's credit
policy. It can also be used to conduct business without jeopardizing client relationships.
Procedure:
 Check the aged debtor report on a weekly basis to determine the amount owed to
clients.
 Send the invoice along with the delivery or as soon as possible after delivery, such as
within a week.
 If payment is not received within seven days of billing, use the most recent accounting
software to create Email reminders with a template of the outstanding amount and
send them to the client.
 If payment is not received within seven days after billing, send a friendly email reminder
as a first step. If the money is not received within seven days after the initial email
reminder, send a second email reminder.
 If the payment is not received within seven days after the second reminder, the client
will receive less than before. Until the payment is received, halt supply.
 If the client has not responded to the previous reminder, send a letter demanding
payment.
 Recruit a legal representative or department from the company to collect the payment.
Summary:
Debtors Management Procedures assist a corporation in collecting outstanding payments and
running a successful business without losing clients or customers. Understanding the company's
debtor management practices is crucial and mandatory for all sales and finance personnel.
4. Send an e-mail to CEO for reviewing debtor management procedure

To
The CEO

Dear sir,

Greetings

Please find the attached revised debtor management procedure for your kind review. The
debtor management procedure shows the steps to be followed while collecting the debt.

Thanks and regards,

Harjeet singh

5. Monitor Debt Management Procedures

Previous aged debtor analysis

Company X
Aged debtor analysis

Report: Aged Debtor Analysis

Client range: All

Client 120+days 90 days 60 days 30 days current total

Client 1 $4,356
Client 2 $2,714
Client 3 $3781
Total $2,714 $4,356 $3781 0.00 0.00 0.00

Latest aged debtor analysis

 Company X
Aged debtor analysis

Report: Aged Debtor Analysis

Client range: All

Client 120+days 90 days 60 days 30 days current total

Client $457

Total 0.00 0.00 0.00 0.00 0.00 0.00

Summary:
 The quantity of delinquent payments owed to the company has been lowered.
 The company's revenue has increased.
 The outstanding payment amount is lower than it was previously.
 The company is able to collect payments on time; but, one client is unable to pay on
time, and I will contact the client to collect the $457.00 due on time.

6. Send an E -mail to CEO for monitoring the latest debt management procedures
To
The CEO

Dear sir,

Greetings

Please review the findings and outcomes after implementing the debt management procedures. The
main notes are:
 The quantity of delinquent payments owed to the company has been lowered.
 The company's revenue has increased.
 The outstanding payment amount is lower than it was previously.
 The company is able to collect payments on time; but, one client is unable to pay on
time, and I will contact the client to collect the $457.00 due on time.

Thanks and regards,

Harjeet singh