Amana Ltd: Budget Performance Analysis Report and Recommendations

This report analyzes the budget performance of Amana Ltd, a company selling tourist souvenirs, during the year 2020, focusing on the impact of the COVID-19 pandemic. It examines variances between the original budget and actual financial results, including revenues, variable costs, and fixed costs. The report identifies areas for improvement, such as managing variable and fixed costs, estimating revenues accurately, and improving cash flow management. It also analyzes Mr. Amana's decision to transition the business online and recommends establishing an online presence, including selling on Amazon, to increase sales, reduce costs, and reach a wider customer base. The report provides detailed recommendations for enhancing employee productivity, creating new product lines, and improving customer service to adapt to the changing market conditions.