Management and Accounting - Assignment Example

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Management and Accounting

Breakeven analysis of the results has also been prepared to determine the volume of sales at which the company will be able to cover its fixed costs. There are a number of financial tools and techniques available to assist business managers to monitor and control their operations. They include budgeting, ratio analysis, breakeven analysis and sensitivity analysis. 2.0 Budgeting Budgets are useful methods of monitoring and controlling costs and organisations prepare a number of them in order to monitor and control expenditure. They include revenue budget, material budget, labour budget, cash budget, budgeted income statement, and budgeted financial statements. The revenue budget is normally the first budget to be prepared. The revenue requirements are determined and a forecast is done of the revenues that the company will generate over a period and when the actual amounts will be received (See Appendix A). The material budget and the labour budget is then prepared based on the information in the revenue budget. These budgets indicate the cost of materials that are required in each period in order to achieve the targeted revenues. ...Show more

Summary

To: The Managing Director From: A.M. Project Manager Subject: Budget Analysis of Famished! Limited Date: Report Table of Contents 1.0 Terms of reference 2.0 Budgeting 3.0 Ratio analysis 4.0 Breakeven analysis 5.0 Sensitivity analysis 6.0 Conclusion Appendices References 1.0 Terms of reference This report provides various budgets for the first year of operations of Famished Ltd…
Author : trey11
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