logo

ASSIGNMENT OF FINANCIAL MANAGEMENT

   

Added on  2020-01-28

11 Pages2016 Words97 Views
FINANCIAL MANAGEMENT
ASSIGNMENT OF FINANCIAL MANAGEMENT_1
Table of Contentsa. Recommendation on improving business performance...........................................................4b. Suggestion for purchasing soft drink contract.........................................................................4c. Reasons for making adjustments in quarter 2, 3 and 4............................................................4ASSIGNMENT 2.............................................................................................................................4PART A...........................................................................................................................................41. List two sources of information in managing cost for future...................................................42. Three examples of external banking records...........................................................................53. List of personnel to communicate information........................................................................54. Contingency plan and three areas to include in plan...............................................................55. Financial plan and internal and external factors to affect financial plan.................................56. Budget, objectives and role of master budget..........................................................................57....................................................................................................................................................61. Flexible budget variance report...............................................................................................62. Opinion on entity's performance..............................................................................................63. Actions to improve flexible budget in variance analysis.........................................................68. Good cash management...........................................................................................................69. CVP analysis in decision making............................................................................................610. Calculate break even point in units and revenue...................................................................611. Thee types of supplies under GST.........................................................................................712. Labor variance.......................................................................................................................713. Evaluating financial information systems..............................................................................7PART B............................................................................................................................................71. List 5 Types of budget.............................................................................................................72. List the name of budget in the table.........................................................................................83. Cash flow and example of cash control...................................................................................84. Cash flow budget.....................................................................................................................85. Two sources of data analysis...................................................................................................86. Data collection in financial management process....................................................................87. Financial plan...........................................................................................................................88. Factors affecting budget...........................................................................................................8a. Projected sales for lunch..........................................................................................................82
ASSIGNMENT OF FINANCIAL MANAGEMENT_2
b. Projected sales for dinner.........................................................................................................8c. Projected annual sales for the restaurant..................................................................................83
ASSIGNMENT OF FINANCIAL MANAGEMENT_3
ASSIGNMENT 1PART BTASK 1 Enclosed in excel TASK 2a. Recommendation on improving business performanceThe variances will be found out by comparing the forecast budget and the next yearforecasting for first quarter. The variances of take away meal is favorable as this is 20% higherthan the actual revenue. All components of this budget is showing favorable results except salesfigure of soft drinks in which sales units has decreases from 24000 to 15000 units. The COGSexpense are also increases in relation to the expenses were in the forecast budget. The finaloutcome is higher than compared with the forecast budget which reflects an entity's businessperformance.b. Suggestion for purchasing soft drink contractThe current cost price of soft drink is 0.80 per cost of the soft drink and the current unitspurchased by this restaurant is 20000. The contract of purchasing soft drink of 2000 is regardedas future opportunities for an enterprise in which 2000 is additionally purchased by an entity inwhich the overall cost will get reduced to 0.50. It is recommended to purchase the currentcontract as it will result into savings of 0.30 per soft drink.c. Reasons for making adjustments in quarter 2, 3 and 4The cost is essential aspect for an organization in which COGS are heavily imposed onthe existing business which needs to be minimized. The current focus is lies on increasing thefood revenue by 5% over all the quarters. The soft drink sales has increases from 15000 to 30000to increase all the sales. The COGS are reduces to 5% by deducting the additional 25% cost thatinduces the current expenditures of the business entity. The major changes made by an entity inthe cash inflow will further result into lower cash outflow of the business enterprise.ASSIGNMENT 2PART A1. List two sources of information in managing cost for futureCost sheet4
ASSIGNMENT OF FINANCIAL MANAGEMENT_4

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
(Solved) Finance answer to question
|10
|1672
|140

Annual revenue will also increase
|8
|2010
|15

Financial Skills for Entrepreneurs
|12
|1700
|42

Management Accounting Costing and Budgeting
|22
|4577
|50

Accounting for Business decisions making sample assignment
|13
|1872
|116

Report on Faux Fashion Limited
|19
|3701
|34