Business Resources Assignment Help

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Qualification - Edexcel BTEC Level 3 Nationals specification in Business

Unit Name - Business Resources

Unit Number - Unit 2

Unit Code - D/502/5409

Credit value - 10

Assignment Title - Resources in Action

Purpose :- The aim of this unit is to develop learner knowledge of the range of human, physical, technological and financial resources required in an organisation, and how the management of these resources can impact on business performance

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Case Scenario
Understanding how resources are managed is one of the keys to assessing how well the organisation is performing. In this unit, you will learn how the employees within their selected organisation are managed and how their performance is monitored. You will also learn about the range of physical and technological resources that their selected organisation utilises and how its resources are managed to maximise the performance of the business.

You will also learn how to make broad judgements on the financial performance of a business by looking at and considering those key items.

You will learn about the main accounting ratios that are used to interpret how well a business is performing and how to apply those ratios to given sets of financial statements. You will also learn how to analyse the results and make detailed judgements on the financial health of the business. Finally, you will learn about the possible limitations of those accounting ratios in providing a totally reliable picture of the financial position of a business.

In order to complete the tasks below, you need to select an appropriate organisation. You need to carry research into the organisation's resources.

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Part 1

In this task, you will focus on the human and non financial resources of your selected organisation. You will need to understand and explain the benefits of managing human resources in the selected organisation.
a) Describe the recruitment documentation used in the organisation P1
b) Describe the main employability, personal and communication skills required when applying for a specific job roleP2
c) Describe the main physical and technological resources required in the operation of the organisation P3
d) Explain how the management of human, physical and technological resources can improve the performance of the organisation M1
e) Assess the importance of employability, and personal skills in the recruitment and retention of staff of organisation M2

Part 2

Managing financial resources is also very important to an organisation's success.

a) Describe sources of internal and external finance for your selected business P4
b) Illustrate the use of budgets as a means of exercising financial control of the selected company P6
c) Analyse the reasons why costs need to be controlled to budget M4
d) Evaluate how managing resources and controlling budget costs can improve the performance of a business D1

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Part 3

You also need to fully understand the mechanisms put in place in managing finance. In order to do the following tasks, you need to carry out suitable research into the financial procedures of your chosen organisation.

a) Interpret the contents of a trading and profit and loss account and balance sheet for a selected company P5
b) Illustrate the financial state of a given business P7
c) interpret the contents of a trading and profit and loss account and balance sheet for a selected company explaining how accounting ratios can be used to monitor the financial performance of the organisation M3
d) Evaluate the adequacy of accounting ratios as a means of monitoring the state of the business in a selected organisation, using examples D2
e) Evaluate the problems they have identified from unmonitored costs and budgets D3

Assignment - Budgeting and Forecasting

The main purpose of this assignment is to:

Analyze the importance of budgeting and control of expenses in an organization

Scenario
You are working as a Financial consultant working for Fitzgerald Ltd, a company run by Mr. Fitz, a published author and a lecturer in the small town of Stars hollow. The company's main operations are sale of books published by Mr. Fitz. In order to facilitate the sale of books, he opened a small café with a separate area for a bookshop/ library and it has its own pastry chef, Aria who is also the manager of the café + bookshop. Recently, due to the high demand for café food, he was asked to cater many events that took place in the town. To manage and operate the catering subsidiary of the company he has hired 3 other staff members.

Since Mr. Fitz was occupied with lecturing and focusing himself on publishing his new book, he was unable to look into the operations of his business. Due to this, the company has run into many liquidity issues and he seeks your assistance to overcome these problems.

Task 1

Provide a brief report demonstrating the use of budgets as a way of having control over the income and expenditure of the business. The appendices 1 and 2 of this brief gives you information about the company. Based on this you are required to;
• Briefly explain the types of costs in an organization (fixed cost and Variable cost)
• Using appendix 1, calculate the break-even point, margin of safety if they achieve the targeted profit for the given scenarios and draw the respective charts.
• Identify problems associated with the given budget of the organization given in the appendix 2, and other problems associated with preparation and managing the budget
(research on problems when preparing and managing budgets )
• Suggest solutions to overcome the aforementioned issues. ( research on solutions for the founded problems
• define budgets, different types of budgets and uses of budgets
• Explain type of costs ( fc and variable

Task 2
Using Appendix 2 of this brief, analyze the issues related to uncontrolled expenses of the organization. In this you are required to;
• Identify variances from the budgeted to actual figures ( calculate the differences budgeted and actual, income and expense
• Identify reasons for these variances ( reasons for income and expenses to increase or decrease )
• Identify what problems it can create to the company ( research on problems of overspending )

Task 3
Based on the above findings of task 2 and your knowledge, prepare a report to the CFO of the company evaluating the consequences of unmonitored costs. You are required to clearly identify short term and long term issues that can arise by not keeping track of expenses and how it can impact the organization.

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