Will you get a bonus for the year ended 31st march 2021

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Reference no: EM133164204

Task: Accruals

This activity is to allow you to see how accruals operate in a business scenario.

Your tutor will show you a slide with the following scenario. Using your knowledge of accruals, can you decide whether a bonus would be paid, and why / why not?

Scenario:
You are the manager of a marketing team in a large company. You have been given a budget of £100,000 to spend on your cost centre in the year ended 31st March 2021.

During the year you spend £85,000 on staff costs, marketing campaigns and promotional events.

Then, on 1st March 2021 you run a TV campaign costing £25,000 to publicise a new product. All the adverts have run by 15th March, but you haven't been invoiced for it yet, and won't have to pay for it until April 2021.

You get your bonus if the expenditure of your cost centre (cost incurred in the year) is on or below budget.

Required:

Will you get a bonus for the year ended 31st March 2021?

Reference no: EM133164204

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