FNSACC511 Provide Financial and Business Performance - Product Assessment Task

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Product Assessment Task

Task 2: Role-play
You (Edward) need to set up a time, date and venue for the meeting with Richard (your assessor will play the role of Richard, role play will be held in simulated work environment of RMIT) to:

  1. Discuss at least two (2) financial options and processes with Richard to develop suitable plans (e.g. for short- and long-term financial requirements, meet regulations, business structure etc.) for providing information and achieving the company’s goals within 6 months.
  2. Discuss and justify the best option after the review of the financial plan and communicate how the option is most viable to the company’s current financial state. Suggest how this will be implemented, monitored and reviewed on a regular basis to achieve administrative efficiency and consolidation.
  3. Discuss how risks and contingencies will be managed along the way. These contingencies can be changes in client’s needs or any change in opportunity cost, funding cost or business forecast.
  4. Summarise the key outcomes of the meeting including any agreed criteria against which the plans will be reviewed in future and submitted this via Canvas.

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