Manage Budget and Financial Report, Financial Management

Assignment Help:
Complete the financial reporting for each period and develop recommendations using the templates provided.

Procedure

1. Read the case study.

2. Complete the financial reports for each period as requested.

3. Analyse the data and complete your recommendations in the space provided.

4. Complete a new budget based on your recommendations.

Specifications

> financial data tabled is accurately

> basic accounting terminology is used in recommendations

> sound reasoning is used in calculating the strategies that are recommended.

Submission guidelines

Submit this document through OpenSpace with any additional required evidence attached. See specifications below for details.

If you need additional assistance with this assignment please contact your Trainer through OpenSpace.

Proactive Management Consultants Pty Ltd (PMC) is a small service organisation that provides consultative services to a wide variety of clients and has been in existence for just over five years. Typically they advise their clients on professional development opportunities, organisational structure and simple training initiatives.

Although the past 12 months have been profitable for PMC, they face a very uncertain future. Reducing government support, the global financial crisis, an increasingly competitive market and a client base that believe they are already paying too much.

PMC prides itself on the advice they give their clients, however, finance has never been their strength. The PMC board has approached your company to provide monthly financial reports and recommendations on how they should proceed with their financial plans.

PMC has provided each month''s sales and expenditure data from which they require your company to complete the reporting in the provided templates, interpret the data and provide recommendations.

Accounts payable are entirely paid month-to-month whereas accounts receivable is calculated 60% current month, 30% last month, 10% second to last month: actual May sales = $42,100, actual June sales = $47,300. These figures will be required to determine actual sales receipts for July and August.

PMC has also provided you with a list of initiatives they had planned to undertake over the next six months that have been budgeted for in their financial planning which they need you to consider in your recommendations. They are:

> anticipate large invoicing month in July due to number of leads

> all company motor vehicle registrations and insurance are due in July $18,000

> 15th of August moving to new premises whereby rent increases to $3,500 per month

> To increase productivity PMC will upgrade all computers under expensed equipment in September at $12,000.

> have sought an aggressive advertising campaign in October to invigorate lost clientele, $16,000

> Due to advertising campaign, PMC are recruiting two new consultants in October. This will add 30% to November''s and December''s payroll and $10,000 in recruitment and training during October and result in increased business (40% November and December).

> purchasing a licence to deliver an innovative training program in November for $20,000

> have contractual agreements in January and February that will generate $32,000 in sales

> three employees on annual leave will have 50% impact on sales in November

> conducting a professional development week for all staff in December $18,000

> employee bonuses due in December, anticipate $16,000.

Related Discussions:- Manage Budget and Financial Report

Stream of expected returns, Stream of Expected Returns Investment retur...

Stream of Expected Returns Investment returns can take many forms. An investor must consider all these forms to evaluate an investment option accurately. A brief description of

What are the types of inventory cost, What are the types of Inventory cost?...

What are the types of Inventory cost? Explain the elements of inventory cost also. Types: 1. Ordering cost    2. Holding cost Elements: 1. Unit cost  2. Reordering

State the major decision of financial management, State the major decision ...

State the major decision of financial management The major decision of financial management is the decision relating to dividend policy. The dividend must be analysed in relat

Definition of capital budgeting, Q. Definition of Capital Budgeting? Ca...

Q. Definition of Capital Budgeting? Capital Budgeting is the procedure of making decisions for investment in long-term assets. It is a method of deciding whether or not to inve

Corporate governance features, Corporate Governance features Corporat...

Corporate Governance features Corporate compliance: The BOD should make sure that corporation obeys with all related laws, governance practices, regulations, accounting an

Weighted average cost of capital of firm, Weighted average cost of capital ...

Weighted average cost of capital of Firm: Use the following information to answer the questions. Security Beta Expected retur

Current yields for treasury bond, ACT presently is all-equity financed. Thi...

ACT presently is all-equity financed. This reflects the stance of the former CEO, a dominant personality who stated repeatedly: "I don't want us to be in thrall to the demands of t

Mr, discuss the applicability of financial management in respect to poultry...

discuss the applicability of financial management in respect to poultry farming in uganda

Define deposit loan rate spread in the eurodollar, How does the deposit-loa...

How does the deposit-loan rate spread in the Eurodollar market compare with the deposit-loan rate spread in the domestic U.S. banking system?  Why? Answer: The deposit-loan sprea

Export/import bank (eximbank), Export/Import Bank (Eximbank) Federal Im...

Export/Import Bank (Eximbank) Federal Import-Export Bank, whose mainly function originally was to compensate U.S. exporters for subsidies approved competitors by foreign govern

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd