Required:

While reviewing the draft sales budget you found that the sales target set by the management was $ 500000, which was more than the draft sales budget prepared by your team.  You have felt the necessity to conduct a budget meeting with your team and with the financial controller at the same time. You have identified the following agenda for the budget meeting and sent the meeting notice together with an agenda to concerned people. Now you are to conduct a budget meeting as per the following agenda

Requirement:

You are to document, develop and recommend a reporting manual / procedure for your 51 revenue/ cost centres managers. The revenues/cost centre managers will be using the manual to report to you. The reporting manual/ procedure should include the following items:

1.Details of reports on budget and expenditure (control reports) and format / template

2.Details of instructions as to how to collect information and prepare individual reports

3.Deadlines for each report

4.Details of data and information to be kept by the centers

5.Implement, monitor and modification process of  contingency plans as required to maintain and achieve sales target

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