BSBFIM601 Manage Finances-Stock Exchange
Complete an actual-to-budget variance report, using the template provided in the case study. ii. Identify variances by comparing actual results with the established budget, and provide reasons why these variances may have occurred.
Compare financial performance of the organisation (according to financial information provided) to Industry benchmarks for this organisation in line with the retail trade sector. a. Respond to the performance questions provided.
Outline your recommendations for ongoing financial viability for the organisation, based on your assessment of the issues, reasons for variances and organisational performance you have identified (Steps 1-3). h. Include in this section your plans for a revised budget, effectively managing contingencies and issues that have been identified In feedback and monitoring of the budgets.
Answer:
justify;">
| Particulars | Budget | Actual | $ Variance | % Variance | Favourable / Unfavourable |
| Sales | $33,62,828.00 | $33,71,200.00 | $(8,372.00) | -0.25 | Favourable |
| Less: Cost of Goods sold | $18,30,379.00 | $19,55,296.00 | $(1,24,917.00) | -6.82 | Unfavourable |
| Gross profit | $15,32,449.00 | $14,15,904.00 | $1,16,545.00 | 7.61 | Unfavourable |
| Interest expenses | 21,127 | $28,150.00 | $(7,023.00) | -33.24 | Unfavourable |
| Bank charges | 300 | $380.00 | $(80.00) | -26.67 | Unfavourable |
| Store supplies | 750 | $790.00 | $(40.00) | -5.33 | Unfavourable |
| Advertising | 2,00,000 | $1,50,000.00 | $50,000.00 | 25.00 | Favourable |
| Cleaning | $3,256.00 | $3,325.00 | $(69.00) | -2.12 | Unfavourable |
| Repairs and maintenance | $16,068.00 | $16,150.00 | $(82.00) | -0.51 | Unfavourable |
| Telephone | $2,999.00 | $3,100.00 | $(101.00) | -3.37 | Unfavourable |
| Electricity expenses | $5,356.00 | $5,245.00 | $111.00 | 2.07 | Favourable |
| Luxury car tax | $6,582.00 | $12,000.00 | $(5,418.00) | -82.32 | Unfavourable |
| Wages and salaries | $4,15,600.00 | $4,10,500.00 | $5,100.00 | 1.23 | Favourable |
| Payroll tax | $18,702.00 | $19,741.00 | $(1,039.00) | -5.56 | Unfavourable |
| Total expenses | $14,51,931.00 | $14,65,572.00 | $(13,641.00) | -0.94 | Unfavourable |
| Net profit before tax | $80,518.00 | $(49,668.00) | $1,30,186.00 | 161.69 | Unfavourable |
| Income tax | $24,155.40 | $(14,900.40) | $39,055.80 | 161.69 | Unfavourable |
| Net profit | $56,362.60 | $(34,767.60) | $91,130.20 | 161.69 | Unfavourable |
Buy BSBFIM601 Manage Finances-Stock Exchange Answers Online
Talk to our expert to get the help with BSBFIM601 Manage Finances-Stock Exchange Answers to complete your assessment on time and boost your grades now
The main aim/motive of the management assignment help services is to get connect with a greater number of students, and effectively help, and support them in getting completing their assignments the students also get find this a wonderful opportunity where they could effectively learn more about their topics, as the experts also have the best team members with them in which all the members effectively support each other to get complete their diploma assignments. They complete the assessments of the students in an appropriate manner and deliver them back to the students before the due date of the assignment so that the students could timely submit this, and can score higher marks. The experts of the assignment help services at urgenthomework.com are so much skilled, capable, talented, and experienced in their field of programming homework help writing assignments, so, for this, they can effectively write the best economics assignment help services.
