Manage Budgets and Forecasts - Accounting and Finance Assignment Help

Assignment Task:

Task 1 (white water  budget example in mind) 

Required:

1. In the Excel spreadsheet template provided you are required to:

Create the following for the months of April, May and June 2018:

1. A Budgeted Income Statement 

2. A Cash Budget

Note: In preparing the above budgets, you will be required to prepare purchases, expense, cash payments and cash receipts schedules. 

2. Suggest to the management of Staples Pty Ltd 2 (two) ways the business is sensitive to changes from the time budget is created to the time that cash, revenue and expenses occur and identify 4 (four) KPIs. 

Task 2

The Jersey Dairy Company is a producer of top quality dairy products. The manager has provided the following information in relation to two of its products, tubs of flavoured yoghurt and cottage cheese, for the year 2017 - 2018. The budget selling prices for the products were $8 per tub of yoghurt and $5.50 per tub of cottage cheese.

• Expected sales were 90,000 tubs of yoghurt and 47,800 tubs of cottage cheese.

• Budgeted cost of goods sold in each case was 40% of the selling price.

• Actual sales were:

• Yoghurt 53,000 tubs at $8 and 34,500 tubs at $7.20

• Cottage cheese 49,200 tubs at $5.50

• Cost of goods sold were:

• Yoghurt $235,340

• Cottage Cheese $113652

Required:

1. Prepare an income statement for the year 2017 – 2018 (in the excel template provided - FNSACC412_513_AT1_TMP_TQM_V1).

2. Prepare a performance report for the income statement for the year, showing gross profit, net profit and all variances from the budget in dollars and percentages (in the excel template provided).

3. Write a brief report (250 to 300 words) to present to the Jersey Dairy Company management on the performance of the actual budget below. In your report, comment on any increase or decrease in sales, cost of goods sold, expenses and net profit. (management want to know what’s happened increase or decrease) You can make reasonable assumptions while noting the reason for change in these for e.g. the increase in sale of yogurt can be a result of high demand due to popularity of flavoured yogurts and high advertising.

4. You are required to present this report verbally to the Jersey Dairy Company management, clarifying the variances and seeking direction from the business as to how to address these variances. 

Provide a recommendation to the management on improving any outcomes of the unfavourable variances noted in your calculations in part b. Report to the Management of Jersey Dairy Company

This presentation and conversation is to be observed by your Assessor. This can be achieved in one of three ways:

• Completed in class 

• Completed using technology – online rooms, phone or web conferencing

This Accounting and Finance Assignment has been solved by our Accounting and Finance Experts at My Uni Paper. Our Assignment Writing Experts are efficient to provide a fresh solution to this question. We are serving more than 10000+ Students in Australia, UK & US by helping them to score HD in their academics. Our Experts are well trained to follow all marking rubrics & referencing style.

Be it a used or new solution, the quality of the work submitted by our assignment experts remains unhampered. You may continue to expect the same or even better quality with the used and new assignment solution files respectively. There’s one thing to be noticed that you could choose one between the two and acquire an HD either way. You could choose a new assignment solution file to get yourself an exclusive, plagiarism (with free Turnitin file), expert quality assignment or order an old solution file that was considered worthy of the highest distinction.