Credit control and charity research

Assessment Task
This assignment is based on a real life brief. Good answers will be passed on to the local charity where these queries were originally generated.
Learning Outcomes

This assessment will enable students to demonstrate in full or in part the learning outcomes identified in the unit descriptors.
Task 1
Regeneration Through Education Limited (RTE) is a charity whose charitable aims are to provide adult education courses and a discounted room letting facility for clubs in a deprived area of Portshampton.

They have recently received a regeneration grant which has enabled them to fund the construction of a purpose built complex of rooms and conference facilities on an adjacent site.

The charity has approached you for advice in some areas of concern (all queries need to be addressed).

Query 1 Advance payment to suppliers (guide 500 words, 25%):

1. RTE require an investment of £100,000 in furniture and fittings for the new building. The supplier, Vital Office Furniture Limited, has demanded a 50% down payment from the charity before they will process the order. The balance will be payable within 10 days of receipt of the goods.

The trustees of the charity are concerned that this is a large amount of money to hand over to a supplier that they have no track record with. Funds are particularly tight during the period of construction.

You are required to evaluate how RTE may reduce their financial risk on this transaction.

Query 2 Charity reporting research (guide 1,000 words, 40%):

2. RTE are required to publish and file annual financial statements to ensure transparency of their financial affairs. Their annual turnover is £2.5mn.

You are required to submit a report to the trustees of RTE, outlining the rationale behind the filing requirements for a charity such as theirs. In addition, you should appraise the role and contents of the Trustees’ Annual Report.

Query 3 Comparison to company filing requirements (guide 500 words, 25%):

3. A number of trustees are also company directors (of their own companies). They require that you evaluate some of the key differences between charity reporting requirements (query 2) and company reporting requirements.

*( the charity sources must from UK,i suggest British heart foundation. and the Query 2 please write as report format.)

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