documented thus sales are not recognized) can lead to loss of assets and revenues - Incomplete cash collection by waiters lead to loss of assets Accounting Process Management 2 - 6 - - Theft of ingredients or cash by personnel leading to loss of assets - Since sales transactions are relatively simple personnel usually performs more than one duty (servers take orders, serve meals, and collect cash) which gives opportunity to fraud b. What risks are specific for GoodFood? Besides the above mentioned
Words: 1376 - Pages: 6
BSBFIM501 Manage Budget and Financial Plans Assessment 1 |Budget | | |Expected Site Cost | $ 80,000 | |Security of premises
Words: 646 - Pages: 3
A budget is a financial plan of the resources needed to carry out tasks and meet financial goals. A master budget is part of an overall organization plan for the next year, made up of three components: (1) organizational goals, (2) the strategic long-range profit plan, and (3) the master budget (tactical short-range profit plan). Long-range plans are achieved in year-by-year steps. The guidance is more specific for the coming year than it is for more distant years. The plan for the coming year is called
Words: 334 - Pages: 2
Based on the January through June 2010 cash budget, what is the maximum monthly loss during the six-month planning period? What is the maximum cumulative borrowing balance? (For purposes of this question, disregard any interest payments on short-term bank loans or interest received from investing surplus funds.) Maximum monthly loss is in June: -$60,750. The maximum cumulative borrowing balance is $99,000 in February. What does the monthly cash budget reveal that indicates it should probably
Words: 972 - Pages: 4
recording, classifying and summarizing the transaction in a significant manner, whereas finance is the management of money and other valuables, which can easily be converted into cash. Functions of Finance Department of an Organization * Preparation of Budget Plans It is duty of finance department of company to make the budget before actual providing money to any department. It helps to fulfill each department with minimum cost. * Financial Management In this function finance department
Words: 1304 - Pages: 6
centralised and 80% of their workforce are on temporary contracts with low training budgets and low salaries of 15,00 per annum, we can see that this has an effect on the workforce regarding the labour turnover of 30%. This new proposal is changing the structure from centralised to decentralised, this means that the workforce could be given more responsibility and according to forecasts, an increase in training budget of 7.5% which could potentially lead to a greater motivated workforce. Furthermore
Words: 891 - Pages: 4
A budget is a quantitative expression of the money inflows and outflows that reveal whether a financial plan will meet the organisational objectives or as a quantitative plan of action relating to a given period of time which may include planned revenues, expenses, assets, liabilities and cashflows. Business budgeting is one of the most powerful financial tools available to any small-business owner. Put simply, maintaining a good short- and long-range financial plan enables you to control your cash
Words: 252 - Pages: 2
MAHARASHTRA STATE BOARD OF TECHNICAL EDUCATION (Autonomous) (ISO/IEC - 27001 - 2005 Certified) __________________________________________________________________________________________________ Subject Code: 0815 SUMMER – 13 EXAMINATION Model Answer Page No: 1/ 25 Important Instructions to examiners: 1) The answers should be examined by key words and not as word-to-word as given in the model answer scheme. 2) The model answer and the answer written by candidate may vary but the
Words: 6703 - Pages: 27
to have cash ready as needed, but first she needs a forecast of just how much she should borrow. Accordingly, she has asked you to prepare a cash budget for the critical period around Christmas, when needs will be especially high. Sales are made on a cash basis only. Koehls purchases must be paid for during the following month. Koehl pays herself a salary of $4,800 per month, and the rent is $2,000 per month. In addition, she must make a tax payment of $12,000 in December. The current cash on hand
Words: 318 - Pages: 2
Attempt Any Four Case Study Case 1: Zip Zap Zoom Car Company Zip Zap Zoom Company Ltd is into manufacturing cars in the small car (800 cc) segment. It was set up 15 years back and since its establishment it has seen a phenomenal growth in both its market and profitability. Its financial statements are shown in Exhibits 1 and 2 respectively. The company enjoys the confidence of its shareholders who have been rewarded with growing dividends year after year. Last year, the company had announced
Words: 2759 - Pages: 12
