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Preparing Budgetary Reports for Stakeholders

Task 7 – Provide budget-related reports

and information

Create at least two clear and accessible reports and information to meet set requirements.

The documents may be produced for any stakeholder or stakeholder group within

the organisation. Evidence must be provided that these were produced within agreed

timescales.

Answer

Task 7: Providing budget-related information

Budget and information report 1:The budget on marketing activities has been successfully formulated in   a consolidated manner. According to agreement, marketing budget was   formulated within a week of formulation of ‘financial budget’. Each aspect of   marketing has been identified and related costs have been clearly mentioned.   Organizational needs, goal and objectives have been aligned with marketing   budget (O’Keeffe et al. 2016,   p.430). An average expenditure for marketing activities had been formed.   Activities like print media advertisement and online advertisement have been   stratified into their subparts. Most of the money has been allocated to   newspaper advertisements because people have habit of going through newspaper   on a regular basis. 
Stakeholder presented to:Marketing Manager (internal)
Date:14/10/2019
Outcomes:There has been some glitches in marketing budget like some activities   have incurred extra expenditure while some activities have received less   focus contrary to what had been decided before. Overall, budget limit has   been maintained as it had not been crossed
Budget and information report 2:Sales budget had been formulated with much consideration. At the very   beginning, it had been formulated. Last year’s sales had been compared with   sales of previous years. This has helped in drawing necessary conclusions.   Even business model has been reviewed in order to find out what changes have   affected sales. External forces like competitive edge, market competition and   threat of new entrants have been closely studied and taken into consideration   while forming budget (Armstrong et al. 2018).  
Stakeholder presented to:Sales Manager (internal)
Date:17/10/2019
Outcomes:It had been found that sales budget had been upto the mark. Prediction   regarding future sales within one year has been more or less perfect. Budget   is working quite well and is progressing according to plan.
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