SOE11144 - Global Business Economics and Finance - Accounting & Finance Assignment Help

Assignment Task

Report Assignment in Accounting and Finance
You have received the following email from the Chief Executive Officer of Clark Casc Logistics plc, where you are employed as manager of a loading bay, inviting you to the first in a series of budget-setting meetings and asking you to submit a brief report in advance.
Dear “Laser”,
For the last financial year Clark Casc Logistics plc made a loss of £3.2 million and the Board is therefore reaching out to all managers to find ways of reducing the costs
for which they are responsible, ahead of next month’s meeting on compulsory redundancies, early retirements and redeployments to our toxic waste sorting division.
We will be holding a first round of budget-setting meetings on Thursday next week.
As the manager of the Craiglockhart loading bay at Clark Casc’s Craiglockhart Loading Bay, the expenditure for which you were responsible for the last financial year was as follows.
Last Year Budget
£000
Actual
£000
Wages and Employers’ National Insurance and Pension Contributions
528 531
Equipment Maintenance 76 81
Equipment Depreciation 74 75
Buildings Maintenance 36 32
Buildings Depreciation 56 56
Heating and Lighting 30 30
Goods Refrigeration 14 15
Apportionment of Central Administrative Costs 74 75
Insurance Costs – Apportioned Based on Past Claims 20 22
Other Costs 10 11
Total Expenditure, Tax and Dividends 918 928
Your expenditure for the first six months of the present financial year is as follows, with a comparison with the budget which, I would remind you, you agreed to this time last year.

Required:
Write your report, addressed to the Managing Director of Clark Casc and containing the following sections, as directed in the Managing Director’s email. Submit your report in the Turnitin dropbox.
1. Introduction
2. Budgeting Approach
3. Relevant Calculations
4. Proposed Loading Bay Budget
5. Conclusion
6. Recommendations
7. References

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