GAC5010 Performance Management Assignment

Reference no: EM132521426 , Length: word count:1500

GAC5010 Performance Management - Gulf College

Assignment 1, 500 words equivalent

Prepare a report on the preparation of an incremental budget for 5 years. You need to provide preliminary data to begin with the budget calculation. The structure of the report follows:

1. Introduction
• Briefly discuss the concept of incremental budget
• Briefly discuss the preparation of income statement budget

2. Financial Assumptions
• Complete the following baseline data. You can decide on your own.

Item	Baseline data
Annual sales volume
Selling price
Finished goods inventory
Cost of production
Selling and admin expenses
Selling expenses
Admin expenses
Other expenses

• Complete the following incremental assumptions. You can decide on your own.

Item	Percent of Annual Increase
Annual sales volume
Selling price
Finished goods inventory
Cost of production
Selling and admin expenses
Selling expenses
Admin expenses
Other expenses

3. Evaluation
After you have completed the Assignment 2, evaluate the results of your income statement budget.

References
• Use at least 5 sources preferably refereed accounting journals and books or e-books.
• Use the proper Harvard referencing style adopted by Gulf College.

Appendices
• Attach the 4 MS Excel tables in your report.

Assignment 2, 1000 words equivalent

Based from the financial assumptions you prepared in Assignment 1, prepare a budgeted income statement for 5 years using MS Excel. You need to submit a soft copy of the worksheet. Follow the following guidelines in the preparation of the worksheet.

1. Create a new MS Excel file and save as: IDNumber StudentName

2. Prepare and complete the following statements:

Sheet 1 (Rename this sheet to SB)

Sales
	2020	2021	2022	2023	2024
Sales volume
Selling price
Sales revenue

Sheet 2 (Rename this sheet to CSB)

Cost of sales budget
	2020	2021	2022	2023	2024
Sales Volume
Ending inventory
Beginning inventory
Production required
Cost of production
Cost of sales

Sheet 3 (Rename this sheet to SAB)

Selling and admin budget
	2020	2021	2022	2023	2024
Selling expenses
Admin expenses
Other expenses
Total selling and admin

Sheet 4 (Rename this sheet to BIS)

Budgeted Income Statement
	2020	2021	2022	2023	2024
Sales

Cost of Sales
Gross Profit
Selling and Admin
Net Profit

3. All figures should be rounded off to three decimal places.
4. Ensure the use of proper formulas and formatting.

Reference no: EM132521426

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