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					Annual Report - 2002

February 2003

Annual Report 2002

Table of Contents
1 Directors Reports ....................................................................................................................................... 3

1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 1.10 1.11

From the President’s Chair .................................................................................................. 3 The Vice President’s Report ............................................................................................... 4 Report from the Secretary .................................................................................................... 6 The Financial Report............................................................................................................... 8
Summary of Financial Results ............................................................................................ 8 Commentary on Financial Statements .............................................................................. 8

1.4.1 1.4.2

Professional Development ................................................................................................. 11 Events Report ............................................................................................................................ 12 PMP Services............................................................................................................................. 13 Chapter Marketing .................................................................................................................. 14 Study Groups Report............................................................................................................. 15 Conference Report .............................................................................................................. 16 Membership and PMP Statistics ................................................................................ 18
Membership Status ........................................................................................................... 18 Member Retention ............................................................................................................ 18 Membership Database...................................................................................................... 18

1.11.1 1.11.2 1.11.3

2 Board of Directors‟ Status ....................................................................................................................... 19 3 Corporate Sponsorship Acknowledgement .......................................................................................... 20 Appendix A – Profit & Loss Statement .......................................................................................................... 21 Appendix B – Balance Sheet .......................................................................................................................... 23

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1 Directors Reports
1.1 From the President’s Chair
Dear Members, It is my pleasure to bring to you the annual report of the Project Management Institute Melbourne, Australia Chapter. In the year 2002 the Melbourne Chapter continued to grow in membership and expand the services offered and will continue to do so in 2003. This of course does not occur by accident it is due to a dedicated Board of volunteers who give their time and effort freely. Part of the growth may be explained by a growing recognition of project management disciplines, but an organisation such as PMI only continues to grow and expand its services through the efforts of a committed few. The highest profile of these is those on the Chapter Board. Their results are evident in the individual annual reports. My appreciation extends not only to the current Board members, but also to those who have had to leave the Board during the year for personal reasons. My appreciation also goes to other PMI members who have assisted with our monthly events, exhibitions and of course our most successful Conference. One very pleasing aspect for me in 2002 was to chair our inaugural International Conference, which was held in October. We had some well-known speakers representing 8 countries. Delegates experienced a fulfilling day listening to some of our 21 speakers, networking with fellow Project Managers, browsing the exhibition booths and finishing off the day at a fantastic social function at the Melbourne Aquarium. Our Chapter in 2002 was recognized by PMI headquarters, with two International awards: o „Sustained Superior Performance‟ recognizing our Chapter who has, for a period of three years, conducted superior programs that further the objectives of PMI in the chapter o „2002 PMI Chapter Professional Development Award‟ for Exceptional Activities which recognizes our Chapter who has conducted superior programs that directly contribute to the advancement of member knowledge, skills, and abilities. The foundation is there for a vibrant, viable PMI Chapter. A strategic plan is continually being reviewed with a number of new initiatives in place for 2003. I am very proud to have led the PMI Melbourne Chapter through a rewarding, demanding and successful year. Brenda E Treasure President
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1.2 The Vice President’s Report
Last year, in my report, I talked of a change in the position of the Chapter and the role of the Board. We had reached a point where the Chapter was stable with respect to finances and membership. The directors no longer had to struggle to keep the Chapter as a going concern. Having reached that milestone, the Board took on the challenge of „other‟ activities to expand the Chapter. The key purpose of any Board is to deliver benefits to our members. The normal activities you have come to expect, continued. There were the very successful monthly events (which a core sub-group of members regularly take advantage of. These events are open to all our members and we would love to see more of you enjoying these events next year), our PMP training and Study Groups and all. Yet this year the Board took on even more. At the start of this year we ran a survey to see what the members wanted. One significant response was the desire to see the Chapter hold a Project Management Conference. We did this. No small feat. Something that has sent a message to the broader community that the PMI Melbourne Chapter is an entity that has reached a level of maturity capable of dealing with corporations and hosting such an event. We have a strength and we have a position in the project management environment in Australia. We also attempted to promote the PMI brand by sponsoring a community project. While this has not been as successful as I would have liked, I feel I should report to you what has happened in this area. It has been all „behind the scenes‟, however we have reviewed four separate projects with respect to their suitability and our ability to support them. Two have been rejected while two others are still in stages of dialogue. The point is, that it is a very different avenue the Board has pursued in order to promote the project management profession. Another outcome of the Chapter‟s changing status has been the need for the Board to rethink its own structure and objectives. In the past (and this is my third year on the Board so I should know), the Board has concentrated on the very tactical aspects of running the chapter. Now we are in a position where we can plan strategic activities more thoroughly. We can now create a strategic plan which we can track our performance against. Create a marketing plan to systematically get our message across, rather than the opportunistic approach we have had to date. The Board is evolving to meet new challenges. There has never been a better time to contribute to the growth and diversity of our Chapter. Finally, as a by-product of our wonderful conference, we now have a small amount of Chapter merchandise. We have polo shirts, lapel badges and various other items that we encourage our members to purchase and proudly display the Chapter name. Let people ask you what the logo is all about, and then tell them. Gary Percival Vice President
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PMI Melbourne Chapter Merchandise
Item Description 1 PMBOK 2000 – Paperback 2 Vjay's book - 1 3 Vjay's book - 2 4 Vjay's book - 3 5 Vjay's book - set of three 10 Polo shirts Blue Small 11 Polo shirts Blue Med 12 Polo shirts Blue Large 13 Polo shirts Blue XL 15 Polo shirts Grey Small 16 Polo shirts Grey Med 17 Polo shirts Grey Large 18 Polo shirts Grey XL 19 Polo shirts Grey 2XL 21 Chapter Lapel badges 22 PMI Tumblers and jug sets Sale Price $60.50 $50.00 $50.00 $50.00 $130.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $25.00 $5.00 $1.00

NOTE: Members can order any of these items at the events or by emailing the Vice President before any event for collection (and payment) at the next event.

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1.3 Report from the Secretary
Following the last AGM on 26th February 2002, the current board held a planning session early in March 2002 to determine the objectives and set a strategy for the coming year to help this vibrant chapter grow. While continuing to provide regular services using forums such as monthly events for networking and professional development, study group sessions and PMP training courses for certification, etc, the board sought to further promote the PMI and project management profession. The following lists some of the achievements over the last year.                          Awards – 2002 PMI Chapter Sustained Superior Performance Award Events – Held 9 Monthly events at Telstra premises Events – Held a Christmas special event at Rialto Events – Held a breakfast session to promote PMI in partnership with Mission HQ Events – Held a PMP dinner at Curry Club in partnership with Project Associates Victoria Events – Participated in “2nd Australian IT User Groups Open Day” held at VTR Consulting Conferences – Participated in “Australia & New Zealand Primavera Conference 2002” Conferences – Maximising Project Value 2002 (a first in Melbourne) Seminars – SeminarsWorld 2002 (a first in Melbourne) Training – Continue to offer lowest cost courses for PMP certification Training – In process of finalising CAPM training Study Groups - Held three Study Groups Sessions Promotions & Sponsorships – Sponsored RMIT Study Award for Project Management Promotions & Sponsorships – Sponsored Canberra and Perth Chapters for PMI promotions Promotions & Sponsorships – Attended and supported launch of PMI Adelaide, SA Chapter Marketing Material - Brochures to promote conference, professional development and study group sessions White Papers & Policies – PMI Melbourne Strategy Paper 2002 White Papers & Policies – PMI Melbourne Marketing Guidelines White Papers & Policies – PMI Melbourne Advertising & Publicity/Promotion Policy White Papers & Policies – PMI Melbourne Privacy Policy White Papers & Policies – Contributed to “PMI Australia – Enhancing National Identity” white paper White Papers & Policies – Contributed to “PMI Australia - Professional Awards” white paper Storage – Established Storage Facility at Kennard Self Storage Website – Established PMI Melbourne Careers Page on Website Emails – Distributed periodic newsletters and e-mails

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Annual Report 2002          Library – Added examination books and study material to assist Study Group participants Sale Items – Offered PMBOK 2000 and PMI merchandise at reduced rates Yellow Pages – Placed a listing in the name of PMI Melbourne in Yellow Pages 2003 Job Guide – Placed a listing for project management profession in Victorian Job Guide 2003 Community Projects – Explored opportunities for contribution to local community. GST Compliance Finances – Improved financial position ($73,000) PMPs - 68 new PMPs. Membership – grown from 509 to 613 (237 are PMPs)

Often these achievements required considerable input from board members and volunteers. In order to maintain the current level of service and continue to help this vibrant chapter grow, the board looks forward to more members coming forward to assist in the various chapter activities. Padam Ajmera PMP Secretary

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1.4 The Financial Report
1.4.1 Summary of Financial Results

PMI Melbourne is in a sound position financially with a current cash position of $121,060.95 comprised of:  $36,473.06 term deposit, invested until 26/2/03 at 4.6% p.a.  $84,587.89 cash in a cash management account All accounts are with the Commonwealth Bank of Australia. The 2002 financial year surplus of income over expenses was $44,940.31. The Profit and Loss and Balance Sheet are presented in Appendix A and Appendix B respectively. All values used in the statements are represented in Australian dollars.

1.4.2

Commentary on Financial Statements

Revenues In 2002 revenue was received from three main sources:  PMP training courses with a surplus of $21,532.48  Maximising Project Value Conference Oct 2002 with a surplus of $28,089.741, and  Membership dues, of $40,902.33. A new revenue stream (although very small) was achieved via a member nominating PMI Melbourne Chapter as recipient of a donation made by pmprepare an Internet service, found at www.pm-prepare.com, designed to help candidates prepare for the Project Management Professional certification examination. Income from interest was $5,294.59. The 2002 surplus increase can be attributed to the financial success of the Maximising Project Value conference. Some 150 members and 40 non-members attended the one day conference with one premium sponsor - Expert IS and seven Expo exhibitors. The importance the income achieved via sponsorship cannot be underestimated. Without the income from sponsorship and exhibitors the conference would have run at a loss at the prices charged. Note: Interestingly, if the profit from the conference is removed from the surplus, then 2002 would have seen a decrease in surplus from $28,776.64 in 2001 to $19,815.122 in 2002.

1 2

Adjustment from $28,084.59 to $28,089.74 Adjustment from $16,855.72 to$19,815.12 see Profit and Loss Statement for adjustment Page 8

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Annual Report 2002 The Chapter increased the number of credit cards accepted to include American Express and Diner's Club thus providing payment via the five major credit cards and increasing payment options to members and non-members alike. Receipts from events and course fees were slightly less than the previous year while membership dues revenue increased slightly (3.4% on 2001 value). Expenses Course Delivery costs were slightly less while course expenses (room, catering, adverting) remained close to that of 2001. Similarly event expenses increased by approximately 23% compared with those in 2001 and the challenge noted in the 2001 Annual Report to increase sponsorship thus countering expenses remains. With the near doubling of income in 2002 came an increase of close to 200% in credit card merchant fees. Three payments totalling $4020 have been made to the Australian Tax Office representing the Business Activity Statement payments for the 2002 periods January to March, April to June and July to September. The final payment for the October to December period is due in February 2003 and is represented by the Tax Control liability shown in the Balance Sheet. Travel costs were paid for the President to attend the PMI International Conference in San Antonio, USA. The Chapter also subsidised the costs involved in increasing alliances between the different Australian Chapters - the President attended a launch of the PMI Adelaide and hosted a meeting of PMI Chapter Presidents in Melbourne. The Chapter provided an award of $2000 plus PMI membership to the top student enrolled in the Royal Melbourne Institute of Technology, Professional Practices for IT Project Management (Bachelor of Business) course. The Chapter made a donation of $500 each to PMI Adelaide and PMI Canberra to assist with Chapter start up. The Chapter continued to receive support in reducing costs via:  Telstra providing a quality venue for the Study Group at no cost to the Chapter  The donation of services by speakers at monthly events  Continued efforts in securing the best value for money venues for training Balance Sheet and Conclusions The net worth position of the Chapter is strong with over $120,000 dollars in cash and minimal liabilities. This figure does not include the stock on hand of Chapter merchandise which would contribute to over $4,000 in assets.
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A decision was taken by the Board in the December 2002 meeting to engage the services of an accountant qualified in the financial package used by PMI Melbourne Chapter and the issues faced by not-for-profit associations. The purpose of this engagement is to ensure the Chapter is following all necessary regulations and procedures. Jo Stephenson Finance Director

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1.5 Professional Development
Another remarkable year for the Professional Development portfolio in 2002 with the PMP course as popular as ever with more than 50 candidates going through the sessions. The year was highlighted in June when PMI Headquarters announced that the Melbourne Chapter had won the “2002 PMI® Chapter Professional Development Award for Exceptional Activities”. The announcement went on to say: “This award honors and recognizes Chapters who have conducted superior programs that directly contribute to the advancement of member knowledge, skills, and abilities. Your Chapter has significantly promoted the values and objectives of the Project Management Institute.” This is well deserved recognition for all those who have sustained the effort that goes into organising, coordinating, developing and delivering these courses over the past 6 years. Special and long over due public recognition should go to Kevin Bourke and Project Associates Victoria for the establishment of the PMP course itself and his ongoing delivery to such a high standard in professional development training. The high esteem that the PMP course is held and the recent recognition are results of his work. Having continually developed and run every PMP series to date, Kevin stepped aside for a well-earned break and handed over to Kay Shafi-Roden during the middle of the year. Kay ran one of the largest classes ever with 32 students during that series. Kevin returned for the next series late in the year and will continue at the start of 2003. The Melbourne Chapter looks forward to another successful year in 2003. Greg White Professional Development Director

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1.6 Events Report
Monthly events are an opportunity for members to network with each other to – get “the goss”, do some headhunting, be headhunted, figure out best practices in Project Management and implement improvement opportunities back at work. Events are almost like the “face” of the chapter that gives us person-to-person contact with fellow members, guests and colleagues from other organizations/associations. As the presentations at such events can help with PDU‟s, there is a need to identify key subject matters of interest to members and which would also qualify for PDU‟s. In addition to core topics like delivering “new product introduction projects”, a complex project like the “Federation Square”, “outcomes to meet strategic objectives” etc, we provided our members with opportunities to hear and understand how they could leverage their positions as Project Managers with ideas on networking, managing individuals‟ ego‟s and organisational politics & cultures, instilling innovative thinking, managing PM issues into the future etc. On the average, we had about 11% of our members and friends turn up at these events – about 65 people. The highlight was the last event of the year on 26 November 2002 when, to end the year on a high, we decided to meet on the Observation Deck of the Rialto - and we had a total of 145 members and friends turn up !!! Dizzy heights, live music, food and wine kept us going until closing time 9 pm. In May 2002, we introduced door prizes that saw lucky members get a $100 prize voucher that could be redeemed for books, software and other PM-related materials. The Events Committee – Walter Skilton, Alex Skilton (the woman behind the man !!!), Ivor Halford and Kersti Nogeste – has been extremely helpful and critical in the success of these events and I take this opportunity to thank them personally, and on behalf of the Board, for their inputs. Due to priorities of running my business, I have decided to retire from the Board and take this opportunity to thank all members and friends for helping make the events productive and enjoyable.

Satish Varma Events Director

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1.7 PMP Services
The purpose of this role is to provide Project Management Professionals (PMP‟s) with an opportunity to further develop their skills in project management and meet the requirements for accumulation of Professional Development Units (PDU‟s) to maintain their certification. Your input into a survey in 2001 provided the direction for the Board when we took the decision to source PDU activities from PMI Seminars World and the 2002 Chapter Conference. I trust you took the opportunity to accumulate some PDU‟s. Your responsibility in maintaining your certification includes logging points with PMI as you attend any type of project management related learning activity. You can claim points for most chapter activities, when claiming Chapter related PDU‟s you require an identification number, these numbers can be found on the chapter website at: http://pmi.org/chapters/australia/Personal_Development/PDU%20Activity%20Regist er%20Dec2002.xls Chris Cartwright PMP Services Director

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1.8 Chapter Marketing
Our aim in marketing the PMI Melbourne Chapter in 2002 was to continue to grow our membership and to ensure a wider impact in the business and project management world for our members. This required a continuing and new range of services and activities:  Monthly events  PMP development (covered in other sections of this report) o Training o Study support  Access to cheaper PMBOKs  Communication  Promotion to the community  Promotion to education institutions  Links and relationships with other key organisations Membership growth As reported elsewhere, growth continues at a constant rate Wider Impact Early on it was clear to the Board (and included in our Strategic Plan) that a greater national image and focus would assist the image and perceived value of PMI membership in Australia. Hence, work has been underway to create a national vehicle for PMI now titled the Australian Chapter Council. However the Board had taken the view that PMI Melbourne Chapter needs to grow and needs to assist or facilitate the continuing growth of project management, for the benefit of our members through jobs/career growth. Hence the major marketing activities during 2002 were aimed at improving the profile of the Chapter and of project management more generally. The major promotional vehicle was the Maximising Project Value Conference held in conjunction with Seminars World in October 2002. Sponsorships ensured the financial success of the conference and it made great advances in the image of the Chapter in the business world, in the project management community, and within PMI internationally. We have also maintained a presence at many other events and provided assistance to other Chapters. 2003 Direction In 2003, the Board is keen to continue the joint focus of  continuing to grow membership  continue to provide a range of services to members and  doing more for the profession (therefore members) through activities that increase and improve the profile of project management and project managers

Iain Polley Marketing Director

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1.9 Study Groups Report
There were 3 Study Group sessions held in 2002. The total number of registered participants was 83. Once again the Study Group sessions were held in the conference rooms on Level 1 of the Telstra building 242 Exhibition St. Month Number of registered participants 26 30 27 Group Leaders

March June Sept

Garry Coates Steve Fabiny Khalil Saeidzadeh Geoff McDonald

Due to the high number of participants in June two Study groups were established. Several participants in the Sept group split into a small group with each member taking turns to attend the session at Telstra building. Several participants went on to sit the exam and passed. While it would be good to give accurate figures not all participants notified me of their success. While there is a high number of registered participants attendance at the Study Group sessions varied and many who registered did not complete the series. The facilities at the Telstra building have been booked for the 2003 Study Group sessions Aileen Tesoriero Study Group Director

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1.10 Conference Report
The Melbourne Chapter on 21 October 2002 held it‟s very successful inaugural Conference „Maximising Project Value‟. The conference was held in conjunction with the renowned international professional development program – SeminarsWorld. Almost 200 Delegates, both PMI Members and Non-members, 21 well respected Presenters, as well as our Major Sponsor, Expert, our Exhibitors and a pool of dedicated volunteers experienced a rewarding, event-filled day finishing off with a great social networking experience. The organisation of the event commenced almost twelve months prior with the acceptance from PMI Headquarters that SeminarsWorld for 2002 would be held in Melbourne and why not take advantage of this event and include our one day conference the day prior. A dedicated Steering Committee consisting of Board members Jo Stephenson, Gary Percival, Ian Norman, Alison Coe, David Nesbit, Greg White and myself was formed to plan and organise the event. Without this Committee and other volunteers we could not have delivered such a successful conference. We employed the services of Dean Craig Design to assist and produce all our marketing material, which was first class. Part of the success was achieved through the support of our major sponsor – Expert, not just for the Conference but throughout the year at our sponsorship launch and extensive marketing. The support of our exhibitors, Primavera, ESI, Terrafirma, Mission HQ, VC Consulting, Novell and Computer Associates was instrumental with the success of this event.

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The day commenced with the Conference opening and our morning keynote speaker Vijay Verma certainly had the audience enthused and awaiting the rest of the day. With an array of 21 speakers representing 8 countries it was hard to decide which presentation to attend. The feedback from our delegates expressed that the selection of speakers and their content were of high value and quality and would certainly welcome a two-day conference. The Best Speaker of the Conference was selected by the Delegates via feedback forms and the presentation of an authentic Didgeridoo was made to Dave Po-Chedley for his enlightening presentation on „No-Bull Project Management‟. I, as Conference Chair would like to take this opportunity to thank my Steering Committee members and all of those that were involved in anyway with the organisation of this Conference. As you will see from the financial Director‟s report it was a financial success.

Brenda E Treasure Conference Director

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1.11 Membership and PMP Statistics
1.11.1 Membership Status The year saw a 20% growth in membership of the Melbourne Chapter, from 509 members at the end of 2001 to 613 members at the end of 2002. 242 members have joined the chapter as new members this year. At the end of 2002, the Melbourne Chapter had a total of 237 members who were certified as Project Management Professionals (PMP), and we congratulate the 68 members who achieved this important accreditation during the year. Chapter Growth Membership at year end PMP Certified New PMP’s 14 33 48 96 68

Year 1998 1999 2000 2001 2002

418 509 613

193 237

1.11.2 Member Retention Of the 509 members at the commencement of 2002, 343 renewed their membership. This is a retention rate of 67%. 1.11.3 Membership Database This year we have implemented a new procedure for sending e-mails to members and friends. This was brought about by the limitations imposed by some internet providers, restricting the number of e-mails that could be sent simultaneously. The new system does get around the restrictions encountered however it no longer flags e-mails that could not be delivered. Members therefore need to be vigilant ensuring they notify PMI of any change of address. Log onto the member area of the PMI web site and changing your details. Alternatively a note can be sent to membership@pmimelb.org.au. The friends database is now self monitored. People logging onto the Melbourne web site can choose to have their e-mail address added to (or removed from) the friends database. A great way for non-members to keep in touch with what is happening in our chapter.

Ian Norman Membership Director

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2 Board of Directors‟ Status
Board Election Status Those members who will continue on the Board and are not up for re-election Brenda Treasure Padam Ajmera David Nesbit Josephine Stephenson Ian Norman Greg White

Those members nominating for re-election Gary Percival Iain Polley Those members NOT nominating for re-election Chris Cartwright Aileen Tesoriero Alison Coe Satish Varma

Further nominations will be sought prior to the AGM. th Nominations must be received by the Nominating Committee by the 20 February 2003.

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3 Corporate Sponsorship Acknowledgement
The members of the Board of the PMI Melbourne chapter would like to acknowledge the wonderful support received through the year from the following organisations.
Telstra Corporation Ericsson Australia Project Associates Victoria Expert IS provision of venues for our monthly events provision of office space and facilities for the Board provision of our PMP training courses major conference sponsorship and chapter support

Their active support is greatly appreciated and without which the activities of the chapter would be severely restricted. These corporations have provided services to the chapter that would otherwise be a considerable expense in delivering benefits to our members. On behalf of all of the chapter‟s members, thank you.

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Appendix A – Profit & Loss Statement
Profit & Loss Statement As at December 31, 2002 Previous Year (2001) $ Previous Yr. Sub Totals REVENUE
ATO Refund-Tax refund Conference 2002 Income: Cash Float banked Conf Sales-books, pins Expo Full Payment Expo Payment-Deposit Extra dinner ticket Reg Earlybird Member-$595 registration Reg Earlybird Non Member-$695 registration Reg Full Member-$695 registration Reg Full Non Member-$795 registration Sponsorship-Premium TOTAL Conference 2002 Income Course Fees Event Receipts Interest Income Membership Dues Merchandise sales Other Incomes 03 04 400.00 17,840.94 1,600.00 272.73 48,781.87 8,213.65 8,936.38 6,504.56 20,000.00 112,550.135 71,978.63 2,245.46 5,294.596 40,902.33 4,401.73 37.23

Current Year (2002) $

Current Yr. Sub Totals

-

79,030.00 2,785.00 896.96 39,546.86 -

122,258.82

237,410.117

EXPENSES
382.06 220.00 1,502.69 Bank Charges VISA, MC and Bankcard Charges Amex Charges Amex goods and imprinter Diners Club Charges Merchant Adjustment Merchant Fees Conference 2002 Expenses: Admin Expenses Airfares-Speaker airfares Cash Float Conference Dinner-Aquarium Expo
3 4

211.20 2,992.03 881.55 90.00 539.82 400.00 843.568 1,949.64 09 24,850.41 1,486.27

ATO Refund – Tax Refund $1,100 assigned to Tax Control account rather than Income Cash Float put to Balance sheet rather than Income or Expense 5 Result of change to Cash Float 6 Interest Income changed from 5,294759 to 5,294.59 i.e. 7 changed to decimal point 7 Result of changes above 8 Admin Expenses changed form $848.72 to $843.56 9 See Footnote 2 above Page 21

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Golf Marketing Reimbursement of conf fee Speaker Gifts-Pens Venue Deposit-Sheraton Venue Payment (inc GST) Web Updates - Conference TOTAL Conference 2002 Exp 1,178.73 35,995.02 18,169.94 3,148.86 708.30 15,953.32 45.52 Advertising Award Expenses (RMIT) Course Delivery Course Expenses Catering Digital Camera Entertainment Event Expenses Freight Charges Government Charges & Taxes BAS – GST Interest – TFN amts withheld Other Taxes Incorporation Report Submission Fee Merchandise costs PMBOK Books Polo Shirts Chapter Pins Newsletter Prodn. & Posting Parking PMI Marketing PMP Dinner Postal Box Rental Postage Prof Dev Study Group Sponsorship / Donations Stationery Software Storage Training Travel Web Site Sundries Operating Surplus (Deficit) 392.39 27,201.55 90.91 525.97 6,142.00 19,897.68 1,080.00 84,460.3810 691.90 2,333.57 32,157.70 18,288.45 644.55 18,479.48 93.71 211.6411 012 1204.5013 1014 33.0015 4,116.06 539.00 650.00 11.82 2,188.03 1,050.00 214.55 36.31 811.1816 994.28 163.81 141.79 843.93 227.27 10,233.08 3,560.66 -

159.34 224.40 22.61 2,500.00 1,614.36 8,764.78 2,384.75 237.50

93,482.18 28,776.64

189,505.25 47,904.86

NOTE: All figures have been stated in Australian Dollars.

10 11

Total updated Redirection of State Gov Tax - GDT 12 BAS – GST reassigned to Tax Control account 13 Reallocation of items within Tax category 14 Reallocation of items within Tax category 15 Incorporation Report submission Fee changed form $30 to $33 16 Prof Dev Study Group changed from $906.30 to $811.18 due to GST component previously not declared. Page 22 4/06/2009

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Appendix B – Balance Sheet
Balance Sheet
As at December 31, 2002 Previous Year $ (AUD) 2001 CURRENT ASSETS 3,948.73 Cash Management Account 84,587.87 $(AUD) 2002 $(AUD) 2002

NON-CURRENT ASSETS 70,000.00 73,948.73 Term Deposits TOTAL ASSETS LIABILITIES & EQUITY LIABILITIES Tax Control 2002 TOTAL LIABILITIES EQUITY 73,948.73 TOTAL LIABILITIES & EQUITY 36,473.06 121,060.95

-1892.7417 -1892.74 122,953.6718 121,060.9319

* The Chapter has the following inventory of merchandise for sale. PMBOK Vijay's book - 1 Vijay's book - 2 Vijay's book - 3 Polo shirts Chapter Lapel badges TOTAL VALUE 8 20 21 20 22 160 $484.00 $1,000.00 $1,050.00 $1,000.00 $550.00 $800.00 $4,884.00

17 18

Reallocation of BAS Payments from Expense Account to Tax Control Account Result of redirection of BAS Payments 19 Result of redirection of BAS Payments Page 23

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Description: PMP Certification Preparatory Course Program Overview. Project Management is emerging as the most sought after skill in the IT,