Subject Guide: ACBUS107A – Financial Planning Fundamentals © TAFE NSW – Higher Education XXXXXXXXXXPage | 19 Assessment Event 2 – Strategy Discussion Report Weighting: 30 % Learning Outcomes: 3, 4...

Strategy Discussion Report
Strategy Discussion Report
    
    
    Your name
ABN: 12 345 678 910
Trading as The Practice Name
Authorized Representative of
AFSL Name/XXX Financial Planning Pty Limited
Your address
Your telephone
Your Email
    
14 September2020
Trent Da
y
35/190 -196 Jubilee Ave, Unande
a, NSW 2505
    
    
Dear Trent Da
y
Strategy Discussion Pape
Report
Thank you for enabling us opportunity to working with you. As per our conversation in the past meetings, we have evaluated your economic position or financial requirements.
Reasons for this advice & its scope
The main function of this statement is to define to you strategies use to attain your financial objectives. These objectives are purchasing engagement ring, setting an emergency finance, saving to buy a unit, or change it in five years.
What my advice does not cove
Since we have not provided the information yet, we are unable to conduct a finish economic analysis covering all your personal moreover financial goals, or would like to obtain more information about:
1. No return on spending assets is provided. Hence, we require understanding the returns on investment asset to conduct comprehensive analysis.
2. We also want to determine your economic budget to examine whether you can manage the cash flow.
3. The other essential data we require to understand is about your previous cash flow, which help us to know your financial trends. This is crucial because it help us understand whether your CF is decreasing or increasing.
4. Because of the lack of this data, we make some assumptions to provide recommendations.
Due to the lack of this data, we made a few common recommendations and used some theories. These have been recognized or can be adjusted over time. Please note down that at this level, this is only a preliminary summarize of the alternatives, and we might make official recommendations in the near future. Hence, strategies in these documents are for discussion functions only, and it is not recommended that you take action without additional advice, as they might not suit your overall economic requirements and goals.
Yours sincerely
Your name
Where to find more information
These documents have been provided before, or suggestions have been provided, but if you need more copies, please contact us for free.
    Document Name
    Version
    Date
    Financial Service Guide (FSG)
    V1.1
    14 September 2020
Strategy Discussion Report –
Prepared fo
Trent Da
y
By
Student Name/Financial Para-Planne
Date of report
Email:
Student Name/Para Planne
Address: your address
AFSL/Office Address
Australian Financial Services Licence Number: 5678900
ABN: 12 345 678 910
Authorised Representative Number:
56789 www.XXXX fp.com.au
Table of Contents
Strategy Discussion Report    1
Where to find more information    2
Executive Summary    6
Your Goals    6
Summary of Strategy Options    6
Scope of Strategy Options    6
Your Personal & Financial Position    8
Cu
ent Situation    8
Goals    8
Income Details    8
Cu
ent Cashflow Analysis    8
Cu
ent Net worth Statement    9
Cu
ent Insurances    10
S.M.A.R.T. Goals    11
Risk profile    12
Strategy Options for Discussion    13
Goal 1: Acquiring the unit in five years    13
Management asset strategy    13
    What it is/Importance to you    13
    How it works    13
    Advantages of this strategy    13
    Disadvantages of this strategy    14
    Why adopt this strategy    14
Goal/s 2- Name the goal/s you are providing strategy options to address
    14
Possible Strategy Options    14
    What it is/Importance to you    14
    How it works    14
    Advantages of this strategy    14
    Disadvantages of this strategy    15
    Why adopt this strategy    15
Goal/s 3- Name the goal/s you are providing strategy options to address
    15
Possible Strategy Options    15
    What it is/Importance to you    15
    How it works    15
    Advantages of this strategy    15
    Disadvantages of this strategy    15
    Why adopt this strategy    16
Possible Future Strategies    16
Other important information    16
Assumptions    16
Schedule of fees and charges:    17
Initial and implementation Advice Fee:    17
Ongoing Fees:    17
Premiums:    17
Adviser Remuneration:    17
Commissions:    17
Next steps    19
Authority to Proceed    20
Appendices    21
Appendix 1: Income Calculation Table    21
Appendix 2: Projected Cashflow    21
Appendix 3: Projected Net Worth (Balance Sheet) Year 5    21
Appendix 4: Insurance Needs Analysis    21
Appendix 5:
Insert any other appendices you think are important
    21
References    22
Executive Summary
According to research by Atkinson and Messy (2012; 2017), person's behavior will affect personal funds. After an individual opens a bank account, he begins to get involved in financial affairs. Therefore, as far as personal finance is concerned, the age of an individual is not important. Everyone is responsible for managing finances properly. Trent Da
y is the whole group of men living in Australia. He is a young man in romantic relationships. On March 3, 2020, Trent cele
ated his 28th birthday. Cu
ently, he works in the Wollongong City Council, where he works full-time and earns income $101000. He financed many his assets throughout loans, which caused him to lose interest at several levels. The auto loan he got paid him fixed interest, as the credit card incu
ed variable interest costs. He needs to pay 19.49% interest on the credit card balance, which is the variable cost.
Introduction
If you are concerned about the risk of serious harm to children, you should discuss strategies as soon as possible. Only under special circumstances, where delays may put children or young people at greater risk, must investigations into suspicions of serious harm be initiated without the need for strategic discussions. In this case, strategy discussions must be conducted within 24 hours after the investigation begins. In all other cases, strategic discussions must be conducted before the investigation begins. If the alleged abuser is under 18 year of age, a separate strategic discussion should take place to believe their requirements. Strategic discussions can be conducted in meetings or in other ways through the phone. In complex refe
als, face-to-face strategic meetings should be held, as this may be the most effective way to discuss child welfare and future action plans. Any strategy meeting should be convened and chaired by the Social Work Manager Children and Family Community Services.
If there are allegations of recent child abuse, the first strategic discussion must take place on the simlar day as the refe
al, as it might be significant to preserve forensic proof.
All strategic discussion parties shall be notified of the investigation results in writing within one working day. If, after the investigation is over, developments indicate that a plan different from the plan agreed in the original strategic discussion is required, the strategic discussion may need to be reconvened.
Both the strategic review meeting and the operational review meeting provide you with an opportunity to pause and view the data, but the strategic review meeting takes another step forward, enabling you to analyze what the data tells you and make co
ections and adjustments to the course decision making (Anderson, 2013). Because it is easy to fall into daily operations, strategic review meetings can put strategic goals at the center of the management process.
Put strategy at the "center" position and your metrics reflect your strategic priorities, not just common metrics for your industry. It also ensures that you fully execute the project and not just focus on the budget (no need to wo
y about whether to focus on the budget or not) the project is completed) (Bajtelsmit, 2019).
Usually, the leadership team and the strategy office spend one to two days a year to formulate strategic goals, and then return to the daily work to squeeze out the strategic work. Folders with all strategic ideas and plans will only accumulate dust on the shelf. At the end of this year, the organization will review its strategy and try to guess its strengths and weaknesses. They report what they did, not what they plan to do. In this way, they missed a lot of things (de Rugy, 2020). The results of the strategy discussion should be recorded by the manager or on behalf of meeting. They must include all the data shared, all the decisions reached as well as the basis for this decision. Any agreed decision should be distributed to all parties in the discussion within one working day.
If mandatory intervention is deemed necessary, a plan will need to be developed to monitor and investigate its progress. The strategy discussion must be seen as a procedure, not a one-time event. They are methods for involving relevant professional in child defense surveys (Douglas and Kravchuk, 2020).
Investigations are different from evaluations because they do not require parental consent to interview children and share information with other agencies. When possible, ask your parents for permission or tell them what happened. Just when social employees or police are concerned that providing information to parents may cause the child (and another person) to be...