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BSBFIM801 manage financial resources Assessment 1 Submitted by: Introduction: HYPERLINK “https://www.commbank.com.au/business/can/business-templates-and-forms/financial-plan-template.html” https://www.commbank.com.au/business/can/business-templates-and-forms/financial-plan-template.html Part 2: Financial Report Products or services: Describe the products or services that your business will produce. Forecasting technique: Identify which type of forecasting technique you will use to develop further financial forecasts. Analysis of forecasts: How will you analyse these forecasts? Statutory requirements: What statutory requirements do you need to consider in preparation of your budget? Collection of comparative and trend information to support budget: Describe how you will collect comparative and trend information to support your budget? Negotiation strategy to acquiring funding for business project: Explain your negotiation strategy with the bank manager relating to acquiring funding for your business project. Records maintained to ensure up-to-date information about resource allocations and usage: Describe the records that you will maintain to ensure up-to-date information about resource allocations and usage Reporting budget performance and expenditure: How will you report budget performance and expenditure? Risk return analysis: Explain the risk factors associated with your business idea and the expected returns? Budget monitoring: Describe how you plan to monitor the budget in the event of deviations. Part…

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