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Accounting
prepare a request for the budget revision form to accompany the variance report. note that the request is due to a new program which had an original incorrect assumption
Accounting
Build a production budget for the current month using the following information:
Opening units 2,000.
Ending units 650.
Forecast sales 11,350.
Opening units 2,000.
Ending units 650.
Forecast sales 11,350.
Accounting
What are the two types of information available to complete the budget? Describe the benefits and disadvantages of them and give an example of each.
Accounting
Your company Apollo is second in the manufacturing industry. The market leader has introduced an innovative product which is expected to wipe out market share for rovers (one of Apollo’s key products) which currently bring in a quarter of revenue and are responsible for a third of expenditures. Revenue forecast and budget expense revision is necessary.
What impact will the market leader’s actions have on your revenue forecast and expense budget:
If total original revenue assumptions were forecast at $700,000 and total expense assumptions added to $1,000,000?
What would the impact on financial performance be in dollars?
What impact will the market leader’s actions have on your revenue forecast and expense budget:
If total original revenue assumptions were forecast at $700,000 and total expense assumptions added to $1,000,000?
What would the impact on financial performance be in dollars?
Accounting
Describe the four accounts in the variance report. What can be done about the entertainment expense account?
Accounting
Apollo cash receipts
1.5.20XX–30.9.20XX
May June July August Sept. Oct. Nov. Dec.
3,000 5,000 7,000 1,000 5,000 4,500 3,000 3,000
Note:
Cash receipts are shown. Credit revenues are twice that of cash each month. The business is closed for April.
Credit terms are 50% by end of the month; 35% by end of the next month balance by end of third month.
Build the projected revenue budget for the six months ending in December?
How is internal competition between projects/ departments competing for funding allocated and what role does the budgeted statement of financial performance play?
1.5.20XX–30.9.20XX
May June July August Sept. Oct. Nov. Dec.
3,000 5,000 7,000 1,000 5,000 4,500 3,000 3,000
Note:
Cash receipts are shown. Credit revenues are twice that of cash each month. The business is closed for April.
Credit terms are 50% by end of the month; 35% by end of the next month balance by end of third month.
Build the projected revenue budget for the six months ending in December?
How is internal competition between projects/ departments competing for funding allocated and what role does the budgeted statement of financial performance play?
Accounting
1. What management controls would you suggest in your notes accompanying the master budget for approval?
2. What category of budgets are the governance board more likely to be interested in?
3. With a long-term view, which specific two budgets are the most relevant to the governing board and for what reason?
2. What category of budgets are the governance board more likely to be interested in?
3. With a long-term view, which specific two budgets are the most relevant to the governing board and for what reason?
Accounting
Is it better to pay mortgage interest or have no mortgage for income tax purposes?
Accounting
In what circumstances do NFP’s compete for funding and what can influence the outcome of funding applications?
Accounting
1. Prepare a budget versus actual variance analysis report for the end of March for the community services organisation Discoverer. They made an original assumption based on the respite manager’s undertaking that a new food expense would be year to date $900 with the actual amount spent $2,700 at the 31.3.20XX. Include food for this month separately on the report for $300 actual and only $100 budgeted. Include whether the amount is favourable (F) or unfavourable (U), show the percentage (%).
2. Prepare a request for budget revision form to accompany the variance report. Note that the request is due to a new program which had an original incorrect assumption.
2. Prepare a request for budget revision form to accompany the variance report. Note that the request is due to a new program which had an original incorrect assumption.
