Objective
This assignment aims to provide practical experience in collaborative budget planning and control within a simulated business environment. The focus is on group decision-making, financial forecasting, variance analysis, and strategic financial adjustments.
Scenario
Each group will select a real UAE-based company to analyze and manage its budget. The chosen company should operate within a relevant industry, such as manufacturing, retail, hospitality, or technology. Groups will research the company’s financial structure, industry trends, and potential budgetary challenges. Your task is to create, monitor, and adjust the budget to ensure financial stability and profitability within the UAE business landscape.
Assignment Tasks
** 1. Initial Budget Planning**
- Select a real UAE-based company and provide a brief overview of its operations.
- Develop a comprehensive budget for the upcoming fiscal year based on the company’s financial data.
- Identify key revenue sources and expense categories.
- Allocate resources efficiently to maximize profitability.
- Set clear financial objectives aligned with corporate goals and UAE market dynamics.
2. Scenario Analysis
- Your team will evaluate the impact of different business scenarios such as (choose one):
- Unexpected supply chain disruptions affecting UAE imports and exports
- Sudden changes in market demand influenced by UAE consumer behaviour
- Regulatory changes affecting cost structures, including VAT and customs duties
- Assess the financial implications of your chosen scenario based on the chosen company.
- Adjust the budget to accommodate these changes and maintain financial stability.
3. Reporting
- Prepare a report summarizing budget performance, key findings, and recommendations.
- Justify budget decisions with supporting financial data and strategic rationale relevant to the UAE market.
**Submission Guidelines
- The final report should be submitted as a PDF document.
- Include references for any external data or financial models used, specifically focusing on UAE-based financial and business sources
Assignment Information
Length:
1400-1800
Learning Outcomes Added
- FinancialPlanning: Develop budgets and demonstrate its role in planning, control and decision making.
- PerformanceMetrics: Discuss performance measurement and its application in the organizations.
we have chosen this company: Emirates Global Aluminium (EGA)
our group members:
Mgt Acc for Bus. Decisions - Team 3
Hamed Al Hashmi
Sulaiman Saeed Mohamed Obaid Alsalami
Zayed Khalid Saleh Rubayea Alkatheeri
Falah Qais Rashed Humaid Alsaeedi