Operational Budget of Riverside Coffee | Report

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Added on 2020-02-05

Operational Budget of Riverside Coffee | Report

Added on 2020-02-05

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ACCOUNTING 1

Operational Budget of Riverside Coffee | Report_1

TABLE OF CONTENTSIntroduction .....................................................................................................................................3PART A...........................................................................................................................................3PART B............................................................................................................................................4PART C............................................................................................................................................8PART D.........................................................................................................................................10Conclusion ....................................................................................................................................142

Operational Budget of Riverside Coffee | Report_2

ILLUSTRATION INDEXIllustration 1: Graph presenting budgeted gross profit and actual gross profit for 2015.................4Illustration 2: Graph presenting budgeted total expenses and actual total expenses for 2015........5INDEX OF TABLESTable 1: Variance calculation of 2015.............................................................................................5Table 2: Variance calculation of 2015.............................................................................................7Table 3: Riverside Coffee Budget for the year 2016 ......................................................................9Table 4: New budget for 2016 ......................................................................................................11Table 5: Combined Budget ...........................................................................................................133

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INTRODUCTION Accounting is referred to as the measurement, processing as well as communication ofthe financial information regarding economic entities (Bonin, 2013). In the present study,accounting has been discussed in the context of Riverside Coffee PTY Limited. The reportsinclude preparation of the operational budget. Further, it includes managing budgets andforecasts. PART Aa)Several improvements can be made to the layout and format of budget 2015. This can berelated with categorizing the personnel expenses amount under the heads salaries and wages aswell as superannuation for both actual and budgeted. The protection of the file can be done bystoring it with security or putting certain password so that important information cannot beleaked (Ismail and King, 2014). Further, backup of the file can be created for the sake of gettingit safely stored. b)The appropriate storage protocol for the file including naming of the new file that isBudget for 2016 is important. With this, decision making would be done within the organization(Henderson and et. al., 2015). The file can be saved with the name that is 2016 budget so that itcan be safely stored and can be founded whenever required. c)4

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