Project 2 Assessment
A.
Project question
Report Assignment in Accounting and Finance
You have received an email from the Chief Executive Officer of Clark Casc Logistics plc, where you are employed as manager of a loading bay, inviting you to the first in a series of budget-setting meetings and asking you to submit a brief report in advance.
You are required to submit your report by 23:59 on Sunday, December 3rd 2023, through the Turnitin dropbox in Moodle.
Trial runs are permitted, it is your responsibility to submit your own work and to ensure that your report is finalised, complete and properly edited before the deadline.
This is an individual assignment. The sharing of files or copying of work between students is not permitted.
You are only allowed to submit one document, which must contain your full report, including your reference list. Do not attempt to submit additional documents.
Your submission must be either a Word document in .doc or .docx format or a .pdf document.
Appendices are not permitted.
Report Assignment in Accounting and Finance
You have received the following email from the Chief Executive Officer of Clark Casc Logistics plc, where you are employed as manager of a loading bay, inviting you to the first in a series of budget-setting meetings and asking you to submit a brief report in advance.
Dear “Laser”,
For the last financial year Clark Casc Logistics plc made a loss of £3.2 million and
the Board is therefore reaching out to all managers to find ways of reducing the costs
for which they are responsible, ahead of next month’s meeting on compulsory
redundancies, early retirements and redeployments to our toxic waste sorting
division.
We will be holding a first round of budget-setting meetings on Thursday next week.
As the manager of the Craiglockhart loading bay at Clark Casc’s Craiglockhart
Loading Bay, the expenditure for which you were responsible for the last financial
year was as follows.
Next Year
The purpose of next week’s meeting is not to rake over the ongoing overspend for this year but we need to plan for next year. We are going to need you to agree a total budget of £882,000 for next year. Mo will update the figure for apportionment of Central Administrative Costs sometime after the meeting but I’m guessing it’ll be based on this year’s actuals, so I suggest you use that. It’s the rest of the costs we need to discuss with you.
You will need to take account of the 3% across-the-board wage increase Piotr agreed with the unions last week. That applies evenly across all types of staff in the loading bay.
Please provide a report in advance of the meeting detailing how you intend to find the necessary savings.
Please include the following sections in your report. We do not require an executive summary:
1.
Introduction
2.
Approach to drawing up the loading bay budget
3.
Relevant calculations to show that your budget is achievable
4.
Your proposed budget with full figures
5.
A conclusion on the achievability of the £882,000 overall loading bay budget
6.
Recommendations on next steps
Please make sure you provide a list of references to any published external material you refer to in your report.
Make sure your report is at least 2,250 words to prove you’ve done some work but I’m not reading it if it’s more than 2,750 words apart from the references. I will not waste time reading appendices. If you have something to say, say it in your report.
If you have any specific suggestions on improving the budget process, please include these in section 2 – the approach to budgeting - and in your conclusion and recommendations.
I hope you are enjoying your Business Economics and Finance course at Edinburgh Napier University. You never know when you’re going to need to include something like that in your cv.
