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why is it important to state the assets and liabilities at their correct accrual basis amounts at start of the accounting cycle
Using the following template and line items data, compile a budget actual variance report for month of September.
• Salaries and on-costs total budget $175,500, YTD $75,000, monthly budget $2,600, monthly actual 2,800
• Travel total budget $40,000,YTD $10,000,monthly budget $5,600,monthly actual $1,600
• Stationery total budget $10,000, YTD $3,000,monthly budget $2,000,monthly actual $1,500
• Office expenses total budget $12,000,YTD $10,000,monthly budget $8,000, monthly actual $8,000
• Training(OH&S) total budget $24,000,YTD 0,monthly budget $2,000,actual $0
You are the Chief Financial Officer (CFO) of a leading retailer that imports furniture and directly sells those online. You have noticed that for the past two years the difference of actual figures and budgeted figures are significant. You are a bit worried about that. You also have been notified by the board members that the reports have not been distributed timely this year which may cause a delay in the projection of next year’s revenue. You have decided to review the budgeting process.
Write a 200 word report on the importance of having a systematic budgeting process in the company
Construct a line graph using the information about three quarter periods and following product sales data for the four products:
Quarter 1(July-September) product 1 $4,500,000 sales revenue, product 2 $2,500,000 sales revenue, product 3 $3,500,000 sales revenue and product 4 $4,500,000
Quarter 2 (October-December) product 1 $2,500,000 sales revenue, product 2 $4,500,000 sales revenue, product 3 $1,500,000 sales revenue and product 4 $2,800,000
Quarter 3 (January-March) product 1 $2,000,000 sales revenue, product 2 $2,000,000 sales revenue, product 3 $3,000,000 sales revenue and product 4 $,5,000,000
What three steps should be undertaken when identifying feasibility by comparing projections with market growth and development?
Describe the differences between quantitative and qualitative data in relation to budgeting. What are some advantages and disadvantages of each approach?
What details should be included on timesheets
You have a credit card that charges an APR of 27%. You make a variable amount of charges each month (see below) but you make the same payment amount each month: $250. If you start with a balance of $0 and borrow the amounts indicated below, what would be the balance owed at the end this year.

Month Borrowed amount

June $280

July $320

August $400

September $300

October $200

November $180

December $350

January $150

February $250

March $210

April $200

May $280

Balance after these 12 months: ?
Following information is extracted from the books of XYZ Traders on 31st December
2018.
Particulars Rs. Particulars Rs.
Salesman salary 60,500 Sales revenue 121,000
Plant & Machinery 750,000 Land & Building 840,000
Furniture and Fixtures 170,000 Long term loans 45,000
Goodwill 100,000 Patent rights 150,000
Gross profit 24,000 Commission received 20,000
Copy rights 220,000 Salaries of marketing staff 172,000
Sundry creditors 25,000 Mark up on loan 14,000
Salaries of office staff 160,000 Advertising expenses 63,000
Electricity charges of office
building
95,000 Short term loans 33,000
Rent of office building 60,000 Taxes paid 31,000
Required:
Based on the above information of XYZ Traders, you are required to calculate the
amount of:
1. Tangible Assets
2. Intangible Assets
3. Administration Expenses
4. Selling Expenses
Using practical examples, demonstrate how communication skills course sharpened your academic acumen ship and prepare you for the workplace.
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