BSBFIM601 | Manage Finance | Assessment
Added on 2022-09-08
13 Pages3693 Words27 Views
MANAGE
FINANCE
BSBFIM601
ASSESSMENT
Student name
Advanced Diploma of
Leadership and
Management
FINANCE
BSBFIM601
ASSESSMENT
Student name
Advanced Diploma of
Leadership and
Management
Table of Contents
Assessment Task 1................................................................................................ 2
Part 1..................................................................................................................... 2
Sales budget,......................................................................................................... 2
Profit budget,......................................................................................................... 2
Cash flow budget and............................................................................................ 2
debtor ageing summary........................................................................................ 2
Part 2..................................................................................................................... 3
Questions and Answers......................................................................................... 3
and list and calculate the tax liabilities for Houzit Pty Ltd under taxation
legislation.............................................................................................................. 3
current compliance requirements and liabilities for this organisation under the
Corporations Act 2001........................................................................................... 4
Student name 1 ICM0
Assessment Task 1................................................................................................ 2
Part 1..................................................................................................................... 2
Sales budget,......................................................................................................... 2
Profit budget,......................................................................................................... 2
Cash flow budget and............................................................................................ 2
debtor ageing summary........................................................................................ 2
Part 2..................................................................................................................... 3
Questions and Answers......................................................................................... 3
and list and calculate the tax liabilities for Houzit Pty Ltd under taxation
legislation.............................................................................................................. 3
current compliance requirements and liabilities for this organisation under the
Corporations Act 2001........................................................................................... 4
Student name 1 ICM0
Assessment Task 1
Part 1
1. Read and analyse the case study information (including business plan
summary and previous financial data) and complete the following.
Sales budget,
Sales Budget
Particulars % 2011/12 Qtr 1 Qtr 2 Qtr 3 Qtr 4
BUDGET (%) 100
%
100% 20% 24% 26% 30%
Total Sales $19,795,29
7
$3,959,06
0
$4,750,87
1
$5,146,77
7 $5,938,589
Details
Bathroom
fittings 30% $5,938,589 $1,187,71
8
$1,425,26
1
$1,544,03
3 $1,781,577
Bedroom
fittings 25% $4,948,824 $989,765 $1,187,71
8
$1,286,69
4 $1,484,647
Mirrors 15% $2,969,295 $593,859 $712,631 $772,017 $890,788
Decorative
items 10% $1,979,530 $395,906 $475,087 $514,678 $593,859
Lighting
fixtures 20% $3,959,059 $791,812 $950,174 $1,029,35
5
$1,187,717.7
4
Profit budget,
Profit Budget
Particlulars 2011/12 Qtr 1 Qtr 2 Qtr 3 Qtr 4
Revenue (%) 100% 20% 24% 26% 30%
Sales $19,795,29
7
$3,959,06
0
$4,750,87
1
$5,146,77
7 $5,938,589
Less: Cost of Goods
Sold
$11,283,31
9
$2,256,66
4
$2,707,99
7
$2,933,66
3 $3,384,995
Gross Profit $8,511,978 $1,702,39
6
$2,042,87
5
$2,213,11
4 $2,553,593
Gross Profit (%) 43% 43% 43% 43% 43%
Expenses
Accounting Fees $10,000 $2,500 $2,500 $2,500 $2,500
Interest Expense $84,508 $21,127 $21,127 $21,127 $21,127
Bank Charges $1,600 $400 $400 $400 $400
Depreciation $170,000 $42,500 $42,500 $42,500 $42,500
Insurance $13,390 $3,348 $3,348 $3,348 $3,348
Store Supplies $3,749 $937 $937 $937 $937
Advertising $350,000 $200,000 $50,000 $50,000 $50,000
Cleaning $16,282 $3,256 $3,908 $4,233 $4,885
Student name 2 ICM0
Part 1
1. Read and analyse the case study information (including business plan
summary and previous financial data) and complete the following.
Sales budget,
Sales Budget
Particulars % 2011/12 Qtr 1 Qtr 2 Qtr 3 Qtr 4
BUDGET (%) 100
%
100% 20% 24% 26% 30%
Total Sales $19,795,29
7
$3,959,06
0
$4,750,87
1
$5,146,77
7 $5,938,589
Details
Bathroom
fittings 30% $5,938,589 $1,187,71
8
$1,425,26
1
$1,544,03
3 $1,781,577
Bedroom
fittings 25% $4,948,824 $989,765 $1,187,71
8
$1,286,69
4 $1,484,647
Mirrors 15% $2,969,295 $593,859 $712,631 $772,017 $890,788
Decorative
items 10% $1,979,530 $395,906 $475,087 $514,678 $593,859
Lighting
fixtures 20% $3,959,059 $791,812 $950,174 $1,029,35
5
$1,187,717.7
4
Profit budget,
Profit Budget
Particlulars 2011/12 Qtr 1 Qtr 2 Qtr 3 Qtr 4
Revenue (%) 100% 20% 24% 26% 30%
Sales $19,795,29
7
$3,959,06
0
$4,750,87
1
$5,146,77
7 $5,938,589
Less: Cost of Goods
Sold
$11,283,31
9
$2,256,66
4
$2,707,99
7
$2,933,66
3 $3,384,995
Gross Profit $8,511,978 $1,702,39
6
$2,042,87
5
$2,213,11
4 $2,553,593
Gross Profit (%) 43% 43% 43% 43% 43%
Expenses
Accounting Fees $10,000 $2,500 $2,500 $2,500 $2,500
Interest Expense $84,508 $21,127 $21,127 $21,127 $21,127
Bank Charges $1,600 $400 $400 $400 $400
Depreciation $170,000 $42,500 $42,500 $42,500 $42,500
Insurance $13,390 $3,348 $3,348 $3,348 $3,348
Store Supplies $3,749 $937 $937 $937 $937
Advertising $350,000 $200,000 $50,000 $50,000 $50,000
Cleaning $16,282 $3,256 $3,908 $4,233 $4,885
Student name 2 ICM0
Repairs & Maintenance $64,272 $16,068 $16,068 $16,068 $16,068
Rent $2,640,508 $660,127 $660,127 $660,127 $660,127
Telephone $14,997 $2,999 $3,599 $3,899 $4,499
Electricity Expense $26,780 $5,356 $6,427 $6,963 $8,034
Luxury Car Tax $7,491 $7,491
Fringe Benefits Tax $26,000 $6,500 $6,500 $6,500 $6,500
Superannuation $187,020 $37,404 $44,885 $48,625 $56,106
Wages & Salaries $2,078,000 $415,600 $498,720 $540,280 $623,400
Payroll Tax $98,705 $19,741 $23,689 $25,663 $29,611
Workers’
Compensation $41,560 $8,312 $9,974 $10,806 $12,468
Total Expenses $5,834,863 $1,453,66
7
$1,394,70
9
$1,443,97
6 $1,542,510
Net Profit (Before Tax) $2,677,116 $248,729 $648,165 $769,138 $1,011,083
Income Tax $803,135 $74,619 $194,450 $230,741 $303,325
Net Profit $1,873,981 $174,110 $453,716 $538,397 $707,758
Cash flow budget and
GST Cash Flow Budget
Particulars 2011/12 Qtr 1 Qtr 2 Qtr 3 Qtr 4
GST Collected $1,979,530 $395,906 $475,087 $514,678 $593,859
Less: GST Paid $1,451,190 $323,986 $345,491 $368,174 $413,539
GST Payable $528,339 $71,920 $129,596 $146,504 $180,320
Debtor ageing summary
Aged Debtors Budget
Particulars TOTAL Qtr 1 Qtr 2 Qtr 3 Qtr 4
Sales $19,795,297 $3,959,060 $4,750,871 $5,146,777 $5,938,589
% Debtors Sales 20% 20% 20% 20% 20%
Total Debtors $3,959,059 $791,812 $950,174 $1,029,355 $1,187,718
Aged Analysis
Current $3,325,610 $665,122 $798,146 $864,659 $997,683
30 Days $395,906 $79,181 $95,017 $102,936 $118,772
60 Days $197,953 $39,591 $47,509 $51,468 $59,386
90 Days $39,591 $7,918 $9,502 $10,294 $11,877
Student name 3 ICM0
Rent $2,640,508 $660,127 $660,127 $660,127 $660,127
Telephone $14,997 $2,999 $3,599 $3,899 $4,499
Electricity Expense $26,780 $5,356 $6,427 $6,963 $8,034
Luxury Car Tax $7,491 $7,491
Fringe Benefits Tax $26,000 $6,500 $6,500 $6,500 $6,500
Superannuation $187,020 $37,404 $44,885 $48,625 $56,106
Wages & Salaries $2,078,000 $415,600 $498,720 $540,280 $623,400
Payroll Tax $98,705 $19,741 $23,689 $25,663 $29,611
Workers’
Compensation $41,560 $8,312 $9,974 $10,806 $12,468
Total Expenses $5,834,863 $1,453,66
7
$1,394,70
9
$1,443,97
6 $1,542,510
Net Profit (Before Tax) $2,677,116 $248,729 $648,165 $769,138 $1,011,083
Income Tax $803,135 $74,619 $194,450 $230,741 $303,325
Net Profit $1,873,981 $174,110 $453,716 $538,397 $707,758
Cash flow budget and
GST Cash Flow Budget
Particulars 2011/12 Qtr 1 Qtr 2 Qtr 3 Qtr 4
GST Collected $1,979,530 $395,906 $475,087 $514,678 $593,859
Less: GST Paid $1,451,190 $323,986 $345,491 $368,174 $413,539
GST Payable $528,339 $71,920 $129,596 $146,504 $180,320
Debtor ageing summary
Aged Debtors Budget
Particulars TOTAL Qtr 1 Qtr 2 Qtr 3 Qtr 4
Sales $19,795,297 $3,959,060 $4,750,871 $5,146,777 $5,938,589
% Debtors Sales 20% 20% 20% 20% 20%
Total Debtors $3,959,059 $791,812 $950,174 $1,029,355 $1,187,718
Aged Analysis
Current $3,325,610 $665,122 $798,146 $864,659 $997,683
30 Days $395,906 $79,181 $95,017 $102,936 $118,772
60 Days $197,953 $39,591 $47,509 $51,468 $59,386
90 Days $39,591 $7,918 $9,502 $10,294 $11,877
Student name 3 ICM0
End of preview
Want to access all the pages? Upload your documents or become a member.
Related Documents
BSBFIM601 Report on Sales and Profit Budgetlg...
|10
|2018
|83
Manage Finance: Budgeting, Financial Management, and Taxation in Australialg...
|17
|3785
|326
Manage Finance: Sales and Profit Budget, Cash Flow Analysis, Aged Debtors, and Risk Managementlg...
|16
|3519
|483
Manage Finances - Budget Analysis, Variance Report, Debtor Analysislg...
|7
|1454
|394
Manage Finance: Sales and Profit Budget, Cash Flow Analysis, and Internal Controllg...
|10
|1508
|216
Manage Finance: Budgets, Sales & Profit Budget, Cash Budget, Debtor's Ageing Reportlg...
|14
|2842
|47