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Manage Finance: Sales and Profit Budget, Cash Flow Analysis, Aged Debtors, and Risk Management

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Added on  2023-06-09

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This article discusses the sales and profit budget, cash flow analysis, aged debtors, and risk management in finance management. It provides answers to various questions related to income tax, Corporation Act, accounting software, matching principle, account group, budget preparation, probity, and risk management. The article also suggests some modifications to manage risks more efficiently.

Manage Finance: Sales and Profit Budget, Cash Flow Analysis, Aged Debtors, and Risk Management

   Added on 2023-06-09

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Running head: MANAGE FINANCE
Manage Finance
Name of the Student:
Name of the University:
Authors Note:
Manage Finance: Sales and Profit Budget, Cash Flow Analysis, Aged Debtors, and Risk Management_1
1MANAGE FINANCE
Table of Contents
Assessment 1...................................................................................................................................2
Sales and Profit Budget...................................................................................................................2
Answer to Question 1:.....................................................................................................................6
Answer to Question 2:.....................................................................................................................6
Answer to Question 3:.....................................................................................................................7
Answer to Question 4:.....................................................................................................................7
Answer to Question 5:.....................................................................................................................8
Answer to Question 6:.....................................................................................................................8
Answer to Question 7:.....................................................................................................................9
Answer to Question 8:.....................................................................................................................9
Assessment 2.................................................................................................................................10
Budget Variance............................................................................................................................10
Debtors ageing ratio.......................................................................................................................12
Reference.......................................................................................................................................13
Manage Finance: Sales and Profit Budget, Cash Flow Analysis, Aged Debtors, and Risk Management_2
2MANAGE FINANCE
Assessment 1
Sales and Profit Budget
SALES and
PROFIT
BUDGET
2011/12 Qtr 1 Qtr 2 Qtr 3 Qtr 4
Revenue 100% 20% 24% 26% 30%
Sales $16,971,236 $3,394,248 $4,073,097 $4,412,521 $5,091,370
– Cost of Goods
Sold
$9,673,604 $1,934,721 $2,321,665 $2,515,137 $2,902,081
Gross Profit $7,297,632 $1,459,527 $1,751,432 $1,897,384 $2,189,289
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
Manage Finance: Sales and Profit Budget, Cash Flow Analysis, Aged Debtors, and Risk Management_3
3MANAGE FINANCE
– Cleaning $16,282 $3,256 $3,908 $4,233 $4,885
– 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 $12,000 $12,000 $0 $0 $0
– Fringe Benefits
Tax
$28,000 $7,000 $7,000 $7,000 $7,000
– 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 $5,841,371 $1,458,676 $1,395,209 $1,444,476 $1,543,010
Net Profit (Before
Tax)
$1,456,261 $851 $356,222 $452,908 $646,280
Income Tax $436,878 $255 $106,867 $135,872 $193,884
Net Profit $1,019,383 $596 $249,356 $317,036 $452,396
Manage Finance: Sales and Profit Budget, Cash Flow Analysis, Aged Debtors, and Risk Management_4

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