EXAMPLE: NEWSAGENT: ONE MONTH
The following example assumes a bookkeeper has prepared summary figures for newsagent proprietor to review on a weekly basis. The budget is assumed to have been prepared in advance, at the beginning of the year; this report compares the results for the first week with the budget for the first week, and forecasts the results for the rest of the month. Forecast formulae are not shown. Colour coding of the variances are included to highlight areas needing attention. Year to Date is not shown below but normally would be included.
|
Source of Information: |
Accounting records of ABC newsagents Pty Ltd |
|
Major Assumptions in Forecasts: |
(1) Increasing sales and margins on newspapers |
|
(2) reducing sales & margins on stationery & cards |
|
|
Check on Forecasts: |
Independent accountants, Ace & Ace, extrapolated from two years historical data. |
|
Responsibility for Forecasts: |
Newsagent Manager |
