FNSACC503 Assessment Task On Manage Budgets And Forecasts

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PART A

Task 4 Service industry – Cash budget

This task required a Cash Budget for the quarter Oct to Dec 2018. The assessment advises that the worksheet method 2 from the text book on pages 90-91 be used and that there is no need to classify by department for this question. Expenses were to be listed in alphabetical order and GST to be added.

Cash Budgets are used for managing the cash in the bank of the business. If there is excess Cash then that can be invested in order to gain additional returns. If a shortfall is anticipated then perhaps a loan may be needed or an injection of capital required.

The assessment gives details regarding when the payment of expenses occurs. This information should be incorporated into the Cash Budget.

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