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Assessment Value: 30% General Instructions: 1. This assignment is to be submitted in accordance with assessment policy stated in the Unit Outline and Student Handbook. 2. It is the responsibility of the student who is submitting the work, to ensure that the work is in fact her/his own work. Incorporating another’s work or ideas into one’s own work without appropriate acknowledgement is an academic offence. Students should submit all assignments for plagiarism checking on Blackboard before final submission in the subject. For further details, please refer to the Unit Outline and Student Handbook. 3. Maximum marks available: 30 marks. Refer to marking rubric for marking criteria. 4. Assignment should be of 3,000 words. Please use “word count” and include in report

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Introduction:

The technique of budgeting is the process which shows the estimated amount of the expenses along with the estimated amounts of the revenue that the company would earn and spend in order to achieve its success in the future.

The company was formed as the Australian Dairy Farmers Federation in the year 1942. It was formed by the Victorian dairy farmer’s capstick Howey and the company was incorporated as an association which would deal in with the national interests of the dairy farmers. In the year 1993, the company was incorporated as a company which was limited by guarantee and then the name of the company was changed to Australian Dairy Farmers Ltd. The company was formed over 70 year ago and since, then the company has been advocating in more policies. Since then, the company has been developing a very string collective voice to the government, industry and the community which includes raising alarm on the national issues which affects the dairy farmers and their profitability (Australian dairy Farms, 2018).

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