Scribd.vdownloaders.comicm-0785

School: University of Illinois, Urbana Champaign - Course: PRODUCT 2 - Subject: Accounting

BSBFIM601 Manage Finances Deval Patel2ICM0785Assessment Task 1 Project Prepare budgets (Case Study) Part A Introduction I am making a budget plan and am going to recommend financial managing application for the business as a business manager. The company is named Houzit Pty Ltd, it is a retailer for home wares. It is a growing business. It has 15 stores in Brisbane area. It has 150 staff members. It is registered with ASIC. As per the review of financial structure of this company the report below has been made. Sales Budget Sales2019\20Qtr1Qtr2Qtr3Qtr4 BudgetTotal Budget20%24%26%30% Total Sales157141083142822377138640856684714232 Bathroom Fitting30%4714232942846.4113141612257001414270 Bedroom Fitting25%3928527785705.4942846.510214171178558 Mirrors15%2357116471423.2565707.8612850.2707134.8 Decorative Items10%1571410314282377138.4408566.6471423 Lighting Fixtures20%3142821628564.2754277817133.5942846.3 Profit Budget Profit Budget2019\20Qtr1Qtr2Qtr3Qtr4 Revenue20%24%26%30% Sales157141083142822377138640856684714232 Cost Of Goods Sold87999001759980211197622879742639970 Gross Profit69142081382842165941017976942074262 Gross Profit %44.0000030544.0000 1444444 Expenses accounting Fees90001800216023402700

BSBFIM601 Manage Finances Deval Patel3ICM0785Interest Expenses9050818101.621721.9223532.0 827152.4 Bank Charges1600320384416480 Depreciation17000034000408004420051000 Insurance12875257530903347.53862.5 Store Supplies00000 Advertising28000056000672007280084000 Cleaning192613852.24622.645007.865778.3 Repairs & Maintenance6180012360148321606818540 Rent2538950507790609348660127761685 Telephone1442028843460.83749.24326 Electricity Expense257505150618066957725 Luxury Car Tax9746619493.223391.8425341.1 629239.8 Fringe Benefits Tax280005600672072808400 Superannuation1714953429941158.844588.751448.5 Wages & Salaries1905500381100457320495430571650 Payroll Tax9051118102.221722.6423532.8 627153.3 Workers' Compensation3811076229146.49908.611433 Total Expenses54577801091556130986714190231637334 Net Profit (Before Tax)1456428291285.6349542.7378671.3436928. 4 Income Tax43692887385.6104862.7113601.3131078. 4 Net Profit1019499203899.8244679.8265069.7305849. 7 Cash flow Budget Cash Flow Analysis GST2019/20Qtr1Qtr2Qtr3Qtr4 GST Collected1571411314282.2377138.6408566.9471423. 3 Less GST Paid987626197525.2237030.2256782.8296287. 8 GST Payable43692887385.6104862.7113601.3131078. 4