Organisation Australian hardware chain

The assignment invoives answers to questions, a project, and a powerpoint presentation.

FINANCIAL
MANAGEMENT
AUSTRALIAN HARDWARE

About Organisation
• Australian hardware chain
• Excellent services
• Engagement of community
• Accountability towards environment

Vision
• No selling cheap hammers
• Improve customer services
• Commitment to uncompromising value
• Honesty or integrity

Mission
• Excellent hardware
• Excellent home wares
• Excellent garden supply
• Best building material
• Committed to customer services

Statutory requirement of business
• Activities should be made in ethical manner
• Activities should state strategic objectives
• The activities should be performed as per latest business plan

Main requirements of opening
business in Australia
• Fair trading law
• Australian standards
• Codes of practice
• Australian consumer law
• Privacy Act 1998

Overall Financial performance
• Unexpected cash drawer amount
• Low results of current earnings
• No issues in payroll
• No issues in total cash in hand

Profit and loss statement
• Some amounts such as $700 were found and not specified in other fees. And
there was great and significant increase in value of Wages and expenditures of
workers.
• It was $ 400 and ended up being expenditure of $6000. Water consumption
also increased without any motive
• Need to know reason of increment

Cash flow
• The net income from cash flow from operating activities was anticipated at
$ 232,768 and was $ 153,940.00. The increment in collected good and
service tax was also well-known.
• Net Cash Flow from Operating Activities was projected at $ 236,018.00
and was $ 145,212.68. Cash at end of period was expected at $
737,823.00 and it was $ 647,017.68 that reflected final value of $
25,212.68 in increment for period

Budget Revision
• Salaries and wages
• Use of cash drawer
• Reduction in Water as well as other sources
• Improvement in materials

Financial software
• In the present time, the company is using XERO
software.
• It is useful in multiple tasks.
• It is used in the Small and medium enterprises

Recommendations
• Improvement in services of customers
• Responsibility towards environment
• Operational cost
• Quality standards

Thank You