Securing Higher Grades Costing Your Pocket? Book Your Assignment at The Lowest Price Now!

Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

Add File

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

Guaranteed Higher Grade!

BSB61015 Advanced Diploma Of Leadership And Management In Business

tag 0 Download 20 Pages / 4,845 Words tag 28-09-2020


WEEK 2 (20 marks)


  1. Describe at least one (1) business that is profitable and explain why you think it is enjoying financial success.















  1. While the evidence suggests otherwise, there is a common view that many new businesses fail within the first year of operation. Why do you think a new business might not succeed?














 [Skip Breadcrumb Navigation]

  1. Explain the following fundamental accounting concepts:
  • Business Entity Concept






  • Dual Aspect Concept






  • Money Measurement Concept







  1. Explain the following fundamental accounting concepts:
  • Objectivity Concept







  • Going Concern Concept







  • Periodicity Concept








  1. Explain the following fundamental accounting concepts:
  • Cost Concept







  • Conservatism Concept






  • Materiality Concept







  1. Explain the following fundamental accounting concepts:
  • Realisation Concept







  • Matching Concept






  • Full Disclosure Concept








  1. Provide four (4) examples of investment decisions














  1. Provide five (5) examples of financing decisions















  1. Provide three (3) examples of financial management decisions.













  1. Explain the difference between financial accounting and management accounting.

















  1. Provide five (5) examples of ratios that can be used for analysis and what they mean















  1. Provide the formulas for the following ratios:
  • Gross Profit






  • Net Profit






  • Inventory Turnover Ratio








  • Debt to Assets Ratio









  • Return on Investment









WEEK 3 (20 marks)



  1. Research the following website and summarize the services, facilities and products the Australian Tax Office provides for individuals and business.














  1. Explain and find one (1) example of a Bilateral or Regional Trade Agreement














 [Skip Breadcrumb Navigation]

  1. Explain the Trade Practices Act. What is it? Who does it apply to?

















  1. Explain the following key Australian Taxation requirements:
  • PAYG Withholding






  • Company Tax






  • Goods and Services Tax (GS.)






  • Financial Probity






  • Australian Business Number (A.B.N)








  • Business Activity Statement (B.A.S)






  • Superannuation 





  • Fringe Benefits Tax (F.B.T)






  • Income Tax





    1. What does International Commercial Terms (INCOTERMS) mean?















      1. Explain what the role of the following: World Trade Organization (WTO)











      1. What is GST(Goods and Services Tax and how is it calculated )?






WEEK 4 (10 marks)

      1. Prepare a Profit & Loss Statement and Balance Sheet using the information given below.
      2. Explain how the business is affected by the completed Profit and Loss Report.


From the following financial Information Prepare a Profit & Loss Statement and Balance Sheet;


Food Sales                              


$25 000



Beverage Sales



$42 000


Rooms Sales                           


$33 000



Conference Sales



$45 000


Opening Food Stock                



$10 000


Food Purchase



$20 000


Closing Food Stock                  



$20 000


Opening Beverage                    



$25 000




Beverage Purchase                  


$40 000



Closing Beverage Stock



$25 000




$1 200



Rates (Council Fees for emptying Rubbish Bins, Landscaping and Street Cleaning)                                 


$1 500


Decorations (Christmas Trees or Flowers for Table Centre Pieces)                                 





Repairs & Maintenance 



$2 300





$2 900


Office Supplies (Pens, Stationary)


$2 500






$1 500





$58 000



Cash in Bank                           



$38 866



Retained Earnings for Previous Year                 


-$41 790


Linen & Glassware                    







$2 558





$4 996





$5 200



Accounts Payable                    


$10 000





$70 000



Accounts Receivable (A/R)                                




Answer 1:

Profit and Loss Statement











































































































Total Liabilities







Proprietorship/Owner’s Equity












Answer 2:

Week 5 (10 marks)

Q1. Professional ethics is the application of ethical principles by professionals who have an obligation to those who rely on their services. Give examples of professional care:

 ethics are the most concrete form of communication by which professions acknowledge their obligations to society. The role of a financial manager involves discharging one’s responsibilities while ensuring compliance with all the obligations espoused in the code of ethics. Give an example how a financial manager can apply code of ethics on making decisions. 

Q3. What is Business Ethics and professional ethics? 4. What is Integrity?

Q5. How often does an organization need to perform an audit trail to make sure all transactions are recording with due diligence? How does integrity play a big role in this section?

You have been the finance director of a clothing retailer for ten years. The company’s yearend is 30Th June, and you are finalising the year end accounts. You have recently been advised by the warehouse manager of a significant level of slow moving stock. The stock in question is now more than nine months old and would normally have been written down some months previously. The shareholders are trying to sell the company, and the managing director (the majority shareholder) has told you that it is not necessary to write down the stock in the year end accounts. You are sure that the managing director wants the financial statements to carry an inflated stock valuation because he has found a prospective buyer. The managing director has indicated to you that, if the proposed deal is successful, all employees will keep their jobs and you will receive a pay increase.

What would you do? Week 6 (20 marks)

Task 1: Cash budget: service industry

Dr Healer is the manager of a medical clinic and is concerned about the cash flow shortages which arose somewhat unexpectedly recently in the practice. At 30 June the bank account showed an overdraft of $50 000. Dr Healer believes that the cash flow problems stem from lack of attention to outstanding patient accounts and the purchase of expensive medical supplies in large quantities at irregular intervals.

The good doctor has asked you to help design a spreadsheet to investigate the cash flow problems. You discover the following data:


May                  $120 000 (actual)

June                 $145 000 (actual)

July                  $50 000 (budget)

August              $150 000 (budget)

September        $140 000 (budget) 

Past experience shows that 40% of the consultation revenue is collected in the month of the visit, 30% in the following month, 20% in the second month after the visit, and 10% was never collected. 

From July new credit policies are expected to result in a collection pattern of 60%, 20%, 10% and 10% respectively.

The cost of medical supplies was $40 000 in June and is budgeted for $60 000 in August. Half of the suppliers’ accounts are paid in the month incurred and half in the following month. Salaries of $40 000 per month and other costs of $25 000 per month are paid in the month incurred.


      1. Prepare a cash budget for the 3 months, July to September to examine the cash flows projections (Use the spreadsheet template to prepare the cash budget).
      2. You are aware that there are some suppliers’ payment due in July and August. What relevant personnel you are required to discuss/negotiate the possible cash shortfall?
      3. What possible contingency plan you can implement to avoid the forecasted cash flow shortfall
      4. Task 2: Alternative debt collection policies

As the manager of Corby and Danes Ltd, you are concerned about the current collection policy from credit customers.  The current policy is that all sales are to be made on credit, with the expectation that 70% of all accounts receivable are collected in the month immediately following the sale:  20% in the second month, 8% in the third month, and the balance written off as bad.

The actual sales for the four months January to April were as follows:

January $40 000; February $50 000; March $60 000; April $60 000

The forecast sales for the next four months are:

May $70 000; June $80 000; July $80 000; August $80 000 

You need a report that will show how much cash you can expect to collect each month from accounts receivable for the period February to August.  You also like to know what the cash flow patterns would be if either of the two policies below were to be adopted from now (ie from May) on.

Alternative policy:

                        80% of the accounts receivable to be collected in the month following the sale, 10% in the second month, 8% in the third month and the balance written off as bad 

Required:  Show what the existing report on cash collection from accounts receivable looks like. 

      1. Show how the additional reports revealing the cash flow situation under the proposed alternative policy would look. 
      1. After analysing the data which policy you would recommend to improve the collection process for the month of May, June and July
      1. Current policy:

Collections from accounts receivable

















From sales in:








Jan   ($40 000)








Feb. ($50 000)








Mar. ($60 000)








Apr. ($60 000)








May ($70 000)








June ($80 000)








July ($80 000)
















      1. Alternate policy:

Collections from accounts receivable


















From sales in:








Jan ($40 000)








Feb. ($50 000)








Mar. ($60 000)








Apr. ($60 000)








May ($70 000)








June ($80 000)








July ($80 000)








Recommendation:  Week 7(20 marks) Task 1 You are required to research, identify and evaluate available financial management software applications for implementation in a small business or enterprise.

As a foundation to support your research and evaluation you are to prepare and deliver a written response addressing the following key criteria Price

      • Usability
      • Features and Functions
      • Suitability
      • Compatibility with other Software Applications
      • Technical Support
      • Training Opportunities
      • Pros and Cons
      • Your own personal Recommendations

For this response, it is essential that you develop something more than a common-sense approach.

Your plans need to be supported by wide-ranging research, providing a strong rationale for changes and recommendations proposed. 


 Develop a formal business plan for a small business or enterprise nominated by your Trainer and Assessor.

To demonstrate competency, you will need to consider in your analysis the capabilities and resources of the new enterprise, vision, mission, trends and developments in the marketplace, comparative market information, and legal and ethical restraints on the proposed business activity.


For this report, it is essential that you develop something more than a common-sense approach.

Your plan will need to be supported by wide-ranging research, providing a strong rationale for changes proposed.

The business plan or project plan must present a comprehensive and logical position which is followed through with control measures for implementation and review.

Key benchmarks to address and include in your presentation and business plan are as follows:

      • Analyse and interpret business vision, mission, values and objectives
      • Analysis of the strengths and weaknesses of a range of business plans 
      • Implementation of a business plan including evaluation of performance against documented indicators in key results areas 
      • Consult with key stakeholders to develop performance objectives and measures through consultation with key stakeholders 
      • Review market requirements for the product or service, profile customer needs and research pricing options
      • Identify financial, human and physical resource requirements for the business 
      • Consider any permits or licenses that may be required for new activity
      • Knowledge of performance measurement approaches and benchmarkingYour business plan will need to cover all core aspects of business planning, including marketing, financial, human resource, risk management and operational planning. 
      • Legal and insurance issues should be reviewed and corresponding recommendations made for legal compliance embedded in your plan.
      • Finally, the business plan should provide a forecast for the long-range direction of the business and its strategic success.


    1. The analysis and strategy demonstrates a knowledge and understanding of relevant business, management or industry theory.
    2. Evidence of critical thinking in preparing the responses for the Business Plan
    3. The strategy is incisive and includes a concise, relevant treatment of the issues and addresses the assessment criteria.
    4. The strategy critically discusses and analyses the topic, range statement, performance criteria and foundation skills of the unit descriptor
    5. All sources are referenced consistently and comprehensively using the recommended referencing system as prescribed in the subject description/outline.
    6. Use of language is appropriate to academic writing, the industry context, Business Planning, Marketing, Human Resource Management principles, Financial Planning, Risk Management themes and the assessment criteria
    7. The responses are succinctly and clearly written or presented in English
    8. Overall presentation is professional including spell and grammar checked judicious use of headings, font size, layout etc.
Download Sample Now

Earn back the money you have spent on the downloaded sample by uploading a unique assignment/study material/research material you have. After we assess the authenticity of the uploaded content, you will get 100% money back in your wallet within 7 days.

Unique Document

Under Evaluation

Get Money
into Your Wallet

Total 20 pages

Cite This Work

To export a reference to this article please select a referencing stye below:

My Assignment Help. (2020). BSB61015 Advanced Diploma Of Leadership And Management In Business. Retrieved from

"BSB61015 Advanced Diploma Of Leadership And Management In Business." My Assignment Help, 2020,

My Assignment Help (2020) BSB61015 Advanced Diploma Of Leadership And Management In Business [Online]. Available from:
[Accessed 02 February 2023].

My Assignment Help. 'BSB61015 Advanced Diploma Of Leadership And Management In Business' (My Assignment Help, 2020) <> accessed 02 February 2023.

My Assignment Help. BSB61015 Advanced Diploma Of Leadership And Management In Business [Internet]. My Assignment Help. 2020 [cited 02 February 2023]. Available from:

Stuck on Any Question

Our best expert will help you with the answer of your question with best explanation.

We will use e-mail only for:

arrow Communication regarding your orders

arrow To send you invoices, and other billing info

arrow To provide you with information of offers and other benefits

Phone no. Missing!

Enter phone no. to receive critical updates and urgent messages !

250 words
Error goes here

Error goes here

Files Missing!

Please upload all relevant files for quick & complete assistance.

We Can Help!

Get top notch assistance from our best tutors !
Excel in your academics & career in one easy click!


Other Samples

Content Removal Request

If you are the original writer of this content and no longer wish to have your work published on then please raise the content removal request.


5% Cashback

On APP - grab it while it lasts!

Download app now (or) Scan the QR code

*Offer eligible for first 3 orders ordered through app!

callback request mobile
Have any Query?
Subtraction Payment required!

Only one step away from your solution of order no.