Project On Budget Management - ACCT6010
Added on 2020-03-04
6 Pages651 Words34 Views
Running head: PROJECTProjectName of the Student:Name of the University:Authors Note:
PROJECT2Table of ContentsMonthly Budget template................................................................................................................3Balance Score Card..........................................................................................................................3Reference.........................................................................................................................................8
PROJECT3Monthly Budget templateThe table below shows the monthly budget template. The budget is prepared based on aparticular scenario. The budget below is for a band group that is engaged in shows in differentpart of the country. The main revenue of the band is show ticket. The band also earns from otherrevenues like advertising, attending events etc. In preparing the budget, it is assumed that therevenue from ticket will increase by 10% from January to March. Then the business is expectedto decline by 20% from April until August. Then the business is expected to increase by 25%during the recent of the year. The primary expenses of the band is the travelling expenses,professional fees and the employee’s compensation. There are many type of expenses that areincurred during the year that are included in the budgeted result. Statement showing Budgeted performance of the ProjectParticularsJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecemberTotalRevenueTicket Fees $ 150,000.00 $ 165,000.00 $ 181,500.00 $ 145,200.00 $ 116,160.00 $ 92,928.00 $ 74,342.40 $ 59,473.92 $ 74,342.40 $ 92,928.00 $ 116,160.00 $ 145,200.00 $ 1,413,234.72 Other fees $ 85,000.00 $ 93,500.00 $ 102,850.00 $ 82,280.00 $ 65,824.00 $ 52,659.20 $ 42,127.36 $ 33,701.89 $ 42,127.36 $ 52,659.20 $ 65,824.00 $ 82,280.00 $ 800,833.01 Total revenue (A) $ 235,000.00 $ 258,500.00 $ 284,350.00 $ 227,480.00 $ 181,984.00 $ 145,587.20 $ 116,469.76 $ 93,175.81 $ 116,469.76 $ 145,587.20 $ 181,984.00 $ 227,480.00 $ 2,214,067.73 ExpensesEmployee Compensation $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 25,000.00 $ 35,000.00 $ 35,000.00 $ 35,000.00 $ 35,000.00 $ 35,000.00 $ 35,000.00 $ 360,000.00 Legal Fees $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 5,000.00 $ 60,000.00 Professional fees $ 25,000.00 $ 27,500.00 $ 30,250.00 $ 24,200.00 $ 19,360.00 $ 15,488.00 $ 12,390.40 $ 9,912.32 $ 12,390.40 $ 15,488.00 $ 19,360.00 $ 24,200.00 $ 235,539.12 Travelling expenes $ 40,000.00 $ 44,000.00 $ 48,400.00 $ 38,720.00 $ 30,976.00 $ 24,780.80 $ 19,824.64 $ 15,859.71 $ 19,824.64 $ 24,780.80 $ 30,976.00 $ 38,720.00 $ 376,862.59 Office Expenses $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 7,000.00 $ 84,000.00 Balance Score CardObjective Measures Targets Initiatives
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