Posted: January 15th, 2015

ASSESMENT 5

ASSESMENT 5

Write a short report that reviews the financial management processes of a facilities team.
Identify two areas for improvement and explain

how you would negotiate these changes.

(Below are finance process that we do as a team)

A Purchase orders

1. EnergyAustralia policy

requires that three competitiv e quotes be submitted with purchase requisitions ov er $10 000. All purchase requisitions over $10 .000 must be
sent to the Procurement Officer along with three quotes for approval.

2. FM review process is as follows: Facilities Manager, HR Managing

Director, Procurement

B. Purchase requisitions

1. Awork order is required:

The employee or Facility Manager will email accounts to

obtain a purchase requisition via SAP

Accounts will issue a blanket number and purchase requisition number.

The employee or Facility

Manager is to turn in the receipt to accounts.

C. Credit cards

1. Procedure:

The employee must obtain a tax inv oice once a purchase

has been made with the corporate credit card.

Thteqcredit card purchase information must be entered in Spendv ision before the end of the
mon

Each department has a cost code and all purchase made with the corporate credit card will be charge to a specific department
ipendvision statement isthen signed and atpprov ed by the Facilities Manager

ltax inv oices of that month ist en sent o fto accounts for

processing

D. Petty cash

1. Under no circumstances may the petty cash fund be used for a “personal loan”.

2. Awork order may or

may not be required depending on the situation

3. Purchases are typically less than $20.

4. Petty cash is reconciled by submitting

original receipts with petty cash forms to the Business Office as needed. This is accompanied by a “Request for Check” form.
The

data and information you need to address should reference at least three of the following:
Bank account records

Cash flow data

Contracts

Credit card receipts

Insurance reports

lnv oices

Job costings

Petty cash receipts

-Taxation

records

You must show evidence of how you identified, documented and recommended any improvements to existing processes, and then describe
how you would implement and monitor (or have implemented and monitored) these improvements, in line with financial objects of your team and
organisation.

PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT 🙂