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MANAGEMENT ACCOUNTING

Home MANAGEMENT ACCOUNTING

Table of Contents

Solution 1. 3

Solution 2. 4

Solution 3. 5

A.) History of Naryana Hrudayalaya. 5

  1. B) Business/products of the company. 6
  2. C) Management/Board of Directors. 6
  3. D) Financial Statements. 6
  4. E) Director’s report 7
  5. F) Management Discussion and Analysis. 7
  6. G) Stock market information. 8
  7. H) Peer/Competitors data. 8
  8. I) Quarterly results. 9
  9. J) Balance sheet and the income statement for the current year. 9

Solution 4: Ratio analysis. 9

Solution 5: Marginal costing. 15

Solution 6: Budgets and Budgetary control 23

 Solution 1

  1. A) The ‘What if’ analysis tool is identified as the managerial term that is basically used in the management and cost accounting. Under this analysis, the managers make necessary changes in the amount and the volume to analyze their impact and effect if these are actually changed in future period of time. This specific analysis technique is also referred to as the sensitivity analysis. For example, what if analysis would be applied when the management plans to increase the sales price of products by $3 per unit and can observe what will happen when prices are actually increased.
  2. B) The balance score card is identified as the performance metric that is basically used for attainment of strategic management within the organization through four key perspectives, i.e. customers, financial, learning and growth and internal process.

Financial: The perspective shows that how the shareholders can be managed for gaining long term success (Boscia and McAfee, 2014, January). This perspective helps business to solve their financial problems through a focused approach and thus company can improve long term sustainability. An example could be by enhancing profitability and revenue the business would be able to solve its problems.

Customer: The outlook focuses over how the organization would be perceived by the customers for attainment of objective and vision for gaining necessary trust and confidence of customers. An example could be through effective marketing of high quality products for enhancing customers’ satisfaction.

Internal process: The perspective explains what essential business processes are required for gaining excellence in the organization and how these processes can be effectively implied within the organization. An example could be the constant innovation and quality control would help in attaining trust and relevant publicity within the marketing through the different business processes (Grigoroudis, et. al., 2012).

Learning and growth: The outlook shows how the manager would be able to improve and change its current practices and procedures for gaining necessary sustainability within the organization for future success. The example for this could be taken as through establishment of standardized training procedures and quality building among employees.

Solution 2

The budgeting is identified as the process in which budgets are prepared by the organizations that aims at determination of expected expenses and revenue in respect of different activities and operations of the business for a future period (Bogsnes, 2016). Thus, budgeting process mainly emphasizes over preparation of detailed financial statements and results that helps in the future projection of income and expenses for a specific time period in future. A number of budgets are prepared by organizations like Unilever which are as follows:

Master budget: The Unilever Company prepares this budget which is basically a combination of several individual budgets that helps in providing an overall picture regarding the health and financial activities of business. For example, sales budget, production budget, overhead budget etc.

Cash budget: The Unilever organization by preparing this budget aims at future projection of inflow and outflow of cash within the business in a particular time period (Roncalli, 2013). This helps the organization in proper management of cash for distinct activities.

 Operating budget: The Unilever Company, with the help of this budget, is able to effectively forecast and analyze the future expenses and losses over the course of operations for a particular time period (Wildavsky, 2017). Thus, the budgets provide accurate prediction regarding, manufacturing expenses, sales, labor, overhead and material cost along with administrative cost etc.

Static budget: This is the fixed budget prepared by Unilever and does not consider changes that occur in the income as well as the sales volume (Cools, et. al., 2017). The budget is mainly used for proper storage and warehousing of products irrespective of change in inventory level due to entering and leaving of inventory from the godown.

Financial budget: This is the budget that is prepared by the Unilever for effective and proper management of future expenses, cash flow, income and assets of the business (Roncalli, 2013). The budget provides a comprehensive picture regarding financial health and the expenditure with respect to key operations of the business.

Sales budget: This budget helps in proper forecasting of total sales for a specific period and is shown in either through quantity or money terms. The budget is important because all other budgets are prepared on the sales budget.

Production budget: The budget helps in forecasting the output that will be produced during a specific period and is helpful in scheduling the production as per the sales budget.

Solution 3

A.) History of Naryana Hrudayalaya

The healthcare institution is identified as the chain of major multispecialty hospitals in India that is founded by Dr. Devi Prasad Shetty in the year 2000. The hospital is currently having its headquarters located at Bengaluru in India with strong presence in states like Karnataka and other southern states of India (Naryana Hrudayalaya, 2018). The hospital was initially started as a hospital with 225 bed capacity and provided services in heart care and other primary facilities. There is also an international hospital at the in the Cayman Islands.

B) Business/products of the company

The hospital provides advanced healthcare services in more than 30 specialties. The major business products can be identified in the form of services in specialties such as Cancer care, Gastroenterology, Cadiac surgery, Neurology, Cardiology, Neurosurgery, Urology, Orthopedics and Nephrology.

C) Management/Board of Directors

Position

Key person

Chairman and CEO

Dr. Devi Prasad Shetty

Vice Chairman

Dr. Ashutosh Raguvanshi

Executive Director

Viren Shetty

Non-Executive Director

Kiran Mazumdar Shaw

Board of Directors (Independent Director)

Dinesh Krishna Swamy

 

Muthuraman Balasubramanian

 

Arun Seth

 

B N Subramanya

 

Manohar D Chatlani

D) Financial Statements

For the year ending 31 March 2018, the revenue from operations for the organization is Rs. 22,809.07 million while it is Rs 18781.65million in the year 2017. The total income has been Rs 22998.07 million for the year 2018 while it is Rs18956.47in the year 2017 (Naryana Hrudayalaya, 2018). The profit for the year is Rs 514.02million while it is Rs 829.74 million in the year 2017. The income tax expenses have reduced to Rs 289.64million in the current year from 523.66in 2017.

E) Director’s report

The director’s report provides detailed information with respect to the financial and operational performance of the organization. The report enables the shareholders to gain information regarding the related party transactions, non-compliance regarding the capital markets, the whistleblower policy (Naryana Hrudayalaya, 2018). Further, the report also states that the financial statements of the company have materially true and significant and does not hide any material fact that can be misleading. The report also makes sure that the financial statements are prepared in compliance with the relevant accounting standards, laws and regulations.

Performance review of consolidated operations

The directors have commented that in the year under review, the total revenue of the organization has raised to Rs 22998.07mn in the year 2017-18 from Rs 18956.47mn in 2016-17. The earnings before interest, tax, amortization and depreciation and the exceptional items has reduced to Rs 2311.65mn in 2017-18 from Rs 2463.38mn in 2016-17.

Along with the authorized share capital of the company as on 31 March 2018 is Rs 3800mn that is made up of 71000000 preferences shares of Rs 10 each and 309000000 equity shares of Rs 10 each. The directors have also commented that a suitable risk management policy has been formulated with the help of Audi, risk and compliance committee. The directors have also proposed for the insider trading policy.

F) Management Discussion and Analysis

The organization aims for maintaining the superior quality standard for clinical excellence, satisfaction and the patient health care. With respect to the governance and accountability, the organization aims for developing an environment that is responsible and transparent so that the highest corporate standards and trust can be achieved with the customers. The organization has also adopted an appropriate Dividend Declaration Policy so that proper dividend can be provided to employees.

G) Stock market information

(Source: Yahoo finance, 2018)

The above chart show the five year comparative stock chart of Naryana Hrudayalaya and it can be observed that there is continuously decline over a period of five years in the stock prices of the company. Thus, the organization is required to adopt necessary policies for maintaining its stock prices.

H) Peer/Competitors data

The major competitors of the organization have been identified as Apollo Hospitals, Manipal Hospitals and the Fortis healthcare. The Apollo hospitals are earning revenue of $1.1billion while the Manipal Hospitals are earning revenue of $196million. In case of Fortis, it generates revenue of $628.2million as compared to other major hospital chains of India.

I) Quarterly results

The third quarter results of the company showed the total operating revenue as INR 7321 million while the total expenses were INR 6542 million. The profit after tax for the current quarter was INR 127 million (Naryana Hrudayalaya, 2018). In case of balance sheet, the long term debt showed INR 8174 million in the long term debt for the third quarter while it is INR 51 million for short term debt. The shareholder equity is INR 10568 million in the current quarter.

J) Balance sheet and the income statement for the current year

In the current year, the current assets of the company have increased to Rs 4792 million in 2018 and the non-current assets have increased to 20563.02 million. The total assets have increased to Rs 25355.95 million in the current year. The current liabilities of the company have increased to 5097.66 million in the current period and the noncurrent liabilities have increased to Rs 9897.91million in the present period (Naryana Hrudayalaya, 2018). In case of income statement, the profit before tax has reduced to Rs 803.66 in the current period. This may be due to increase in the expenses which have raised to Rs 22153.47 million in the current year.

 

 

 

Comment: As per the management views and analysis, the detailed discussion has been made regarding the financial and the operating performance of the organization and the organizations has taken relevant steps for improving the current condition of the company through the distinct function areas. Thus, it is recommended that the new investor can invest in the company for gaining relevant profits and further, in case of the existing investors the organization is making constant improvements in the operations which enhance the long term profitability of the company.

Solution 4: Ratio analysis

Problem 1

Company A

Company B

Current assets

500

800

Current liabilities

200

300

Current ratio = current assets/Current liabilities

2.5

2.67

 

 

 

profit after tax

800

720

Reserves & Surplus

2200

1900

Equity share capital

500

400

Shareholder's equity

2700

2300

Return on equity= Net income/Shareholder's equity

0.30

0.31

 

 

 

 

 

 

Net Sales

4500

4400

Fixed Assets

900

1000

Turnover to fixed asset= Net sales /fixed asset

5

4.4

 

 

 

Current liabilities

200

300

Non current liabilities (Term loan)

200

500

Shareholders' fund

2700

2300

Debt equity ratio= Total debt/Shareholders' equity

0.07

0.22

     

 

 

 

Profit after tax

800

720

No. of Equity shares

500

400

EPS= Profit after tax/Total number of equity shares

1.6

1.8

 

 

 

Dividend per share

1

1.1

Earnings per share

1.6

1.8

Dividend payout ratio= DPS/EPS *100

62.5

61.1

 

 

 

Equity

500

400

Reserves and surplus

2200

1900

Profit after tax

800

720

Book value per share

3.8

3.95

Market price share

15

16.5

price to book value

3.95

4.18

 

 

 

Market price per share

15

16.5

Earnings per share

1.6

1.8

Price to earnings ratio= MPS/EPS

9.38

9.17

 

Problem 2

 

Current assets

30

Current liabilities

10

Current ratio

3

 

 

Total debts

50

Shareholder's equity

170

Debt equity ratio

0.29

 

 

Net Sales

630

Fixed Assets

90

Turnover to fixed assets

7

 

 

Profit after tax

60

Shareholders' equity

170

Return on equity

35%

 

 

Total assets

220

Current liabilities

10

Capital employed

210

profit before tax

90

Return on capital employed= Profit before tax/capital employed

43%

 

 

Profit after tax

60

Number of equity shares

10

EPS

6

 

 

Operating profit

60

Net Sales

630

Operating profit ratio

10%

 

 

MPS

7.2

EPS

6

price to earnings ratio

1.2

 

Problem 3

 

 

Net Sales

3600000

 

Total assets

1200000

 

Fixed assets

720000

 

Current assets

480000

 

Inventory

180000

 

Debtors

240000

 

Current liabilities

240000

 

Net Worth

480000

 

Long term debt (loans)

480000

 

Cash

60000

 

 

Balance sheet

Liabilities

Amount

Assets

Amount

Net Worth

480000

Fixed assets

720000

Long term loans

480000

Stock

180000

Current liabilities

240000

Debtors

240000

 

 

Cash

60000

Total

1200000

Total

1200000

 

Problem 4

 

 

 

Profit and loss account

For the year ended 2016-17

Particulars

Amount

Particulars

Amount

Cost of Sales

37057

Net revenue

59289

Gross profit c/d

22232

 

 

 

 

 

 

Selling and marketing expenses

2728

By Gross profit b/d

22232

General and Adm. exp.

3628

 

 

Total operating expenses

6356

 

 

 Operating profit

15876

 

 

 

 

 

 

 

 

By Operating profit

15876

 

 

Other income

3062

 

 

 

 

Net profit before tax

18938

By Net profit before tax

18938

Tax expenses

5120

 

 

 

 

 

 

Net profit after tax

13818

 

 

 

 

 

 

 

Question 6:

           

Operational performance ratio

         

Operating performance ratio: Net sales / net property plants and the equipment

       

Operating performance ratio:

       

 

17-18

16-17

       

net sales

2019.75

1649.05

       

Net property plants and the equipment

1360.08

1399.37

       

Operating performance ratio

1.49

1.18

       

performance ratio of the company is improving as compared to that of the last year.

 

 

       

 

Liquidity and the profitability ratio:

 

Current ratio: Current assets / Current liablities

 

2018

2017

Current assets

596.27

508.63

Current liablities

2757.12

2271.42

current ratio-

0.22

0.22

 

Quick ratio: Liquid assets/ Current liabilities

 

2018

2017

Current assets

596.27

508.63

Inventories

299.91

296.62

Liquid assets

296.36

212.01

Current liabilities

2757.12

2271.42

Quick ratio

0.11

0.09

Liquidity position of the company is same as compared to that of the last year, but company need to make the improvement in the generating the liquid assets in the company.

 

Profitability ratios:

Gross margin ratio: gross profits/ net sales*100

 

2018

2017

Gross profit

719.71

564.56

net sales

2019.75

1649.05

gross profit ratio

35.63

34.24

 

 

 

Operating margin ratio:  operating profit / net sales*100

 

2018

2017

operating profits

214.4

-145.24

net sales

2019.75

1649.05

operating profit ratio

0.11

-0.09

 

 

 

 

Performance of the company is improving as compared to that of the last year.

 

 

     

 

Captital structure ratio:

 

 

 

Debt to equity ratio: Debt / Equity

 

2018

2017

Debt

412.53

990.43

Equity

1800.56

1615.43

debt equity ratio

0.23

0.61

 

 

 

 

 

 

Asset coverage ratio: (Total asset - Intangible assets) - (Current liablities -  short term debts)/Total debts

 

2018

2017

Total assets

4970.21

4877.28

Intangible asset

0

0

Net assets

4970.21

4877.28

Current liablities

2757.12

2271.42

Short term debts

1682.75

1437.41

Current liablities - Short term debts

1074.37

834.01

Total debts

3169.65

3261.85

 Asset coverage ratio

1.23

1.24

 

 

 

 

Performance of the company is improving in terms of the capital structure, the company is operating on the own funds but is generating the less revenue from the assets employed in the company as compared to that of the last year.

 

 

                                   

 

Solution 5: Marginal costing

Problem 1

Fixed Cost

250000

Variable cost

750000

sales

1125000

Output (units)

75000

 

 

Contribution

375000

Profit earned during the year

125000

 

Problem 2

Sales

100000

Variable cost

70000

Contribution

30000

P/V ratio

30%

Profit

10000

Fixed cost

20000

Sales Volume to earn a profit of 40000

2

 

Problem 3

Direct material

5

Direct labor

2

Direct overhead

2

Variable cost per unit

9

Fixed cost

90000

Selling price per unit

12

Contribution per unit

3

P/V ratio

25%

Break Even Sales (in units)

30000

Break Even Sales (in RO)

360000

Sales for earning a profit of 450000

2160000

 

Problem 4

Change in Profits

200000

Change in Sales

1000000

P/V ratio

20%

Fixed Cost for the period 1

200000

Sales required to earn profit of 500000

3500000

Profit when sales are 1000000

500000

 

Problem 5

Change in profits

8000

Change in sales

20000

P/V ratio

40%

Fixed cost for the period 1

25000

BEP

62500

Profit for estimated sales of 125000

25000

Sales for earning a profit of20000

112500

 

Problem 6:

Sales

2000000

Variable cost

1200000

Contribution

800000

Contribution per unit

8

fixed cost

400000

BEP in units

50000

 

Problem 7

Change in profits

4000

Change in sales

20000

 a.) PV ratio

20%

sales in 2015

220000

Fixed cost

30000

b.) Break even point

150000

 

 

 desired Profit

18000

Fixed cost

30000

contribution

48000

PV ratio

20%

c.) sales in RO

168000

 

Problem 8:

 

Particulars

 

current capacity 70%

offer units

 

Total capacity

 

19000

5000

 

Utilization capacity

 

13300

 

 

Ideal capacity

 

5700

 

 

Sales price per unit

21

21

15

 

Sales in value

 

279300

75000

 

Less variable cost

11.8

156940

59000

 

contribution

9.2

122360

16000

 

less: Fixed cost

 

79800

0

 

Profits

 

42560

16000

 

 

a) Offer of 1000 units should be accepted instead of 5000 units

                                       

b) For making the production of the 10000 units company have to make the sacrifice of the 4300 units from the current production units and have to sacrifice the contribution of RO 9.2 per unit for earning the contribution of RO 3.2 per unit. And the company will also incurred the additional fixed cost for making the production of the 10000 units as this production of 10000 units exceeds the idle production capacity of the company which is 5700 units @ 6=25800

 

                                           

 

c) Company should accept the proposal to buy the 5000 units @15 from the local buyer because in this case also the company will not be incurring any of the additional fixed cost and the contribution earned by the company is the profit earned by the company.

 

d)If the buyer of the products of the company is government then the minimum cost that can be quoted to the government will be equal to that of the variable cost of production of the company.

 

Problem 9:

Alternative a:

Particulars

a

B

units

500

500

Selling price

50

40

Sales price

25000

20000

less: Direct material

8000

6000

less direct wages

6000

4000

variable overhead

9000

6000

Total variable overhead cost

23000

16000

contribution

2000

4000

Fixed cost

1500

1500

Profits

500

2500

Total profits

3000

 
           

 

                                                                                       

 

Alternative B:

Particulars

B

 

Units

800

 

Sales price

40

 

Sales value

32000

 

less: Direct material

9600

 

Less: direct wages

6400

 

less: Variable overhead

9600

 

total variable cost

25600

 

Contribution

6400

 

fixed cost

1500

 

profits

4900

 

 

Alternative c:

Particulars

A

B

Units

800

200

Selling price

50

40

Sales value

40000

8000

Direct cost

12800

2400

Direct wages

9600

1600

Variable overhead

14400

2400

Total variable cost

36800

6400

Contribution

3200

1600

Fixed overhead

1500

1500

Profits

1700

100

Total profits

1800

 

 

Alternative D

 

Particulars

A

B

 

Units

300

700

 

selling price

50

40

 

Sales value

15000

28000

 

Direct cost

4800

8400

 

Direct wages

3600

5600

 

Variable overhead

5400

8400

 

total variable cost

13800

22400

 

Contribution

1200

5600

 

Fixed overhead

1500

1500

 

Profits

-300

4100

 

Total profit

3800

 

 

 

 

 

 

Decision

Alternative B should be selected

 

 

 

Problem 10:

 

 

 

 

 

 

Present performance

Selling price redued by 10%

Selling price to be reduced by 20%

 

 

Unit

100000

111111

 

 

 

selling price

200

180

160

 

 

sales value

20000000

20000000

 

 

 

cost:

 

 

 

 

 

Material

60

60

60

 

 

wages

20

20

20

 

 

variable overhead

20

20

20

 

 

total cost

100

100

100

 

 

contribution

100

80

60

 

 

Fixed cost

50

 

 

 

 

Profits

50

 

 

 

 

 

 

 

 

 

 

 

If the selling price is to be reduced by 10%

If selling price to be reduced by 20%

 

 

 

sales in value

 

 

 

 

 

Fixed cost

5000000

5000000

 

 

 

Desired profit

5000000

5000000

 

 

 

Existing sales price

200

200

 

 

 

Contribution per unit:

 

 

 

 

 

selling price

180

160

 

 

 

less: total variable cost

100

100

 

 

 

Contribution per unit

80

60

 

 

 

Sales in units

125000

166666.67

 

 

 

 

Problem 11:

 

 

 

Part A.

 

 

 

Calculation of the break even point in units and the value

 

 

 

Total fixed cost

36000

 

 

selling price

3

 

 

total vatiable cost

2.1

 

 

Contribution per unit

0.9

 

 

Break even point in units

fixed cost / contribution per unit

 

 

BEP (Units)

40000

 

 

 

 

 

 

PV Ratio

0.3

 

 

BEP In value

120000

 

 

 

 

 

 

Units sold

35000

 

 

Selling price

3

 

 

sales value

105000

 

 

Less: Variable cost

73500

 

 

Contribution

31500

 

 

Less: Fixed cost

36000

 

 

Loss

-4500

 

 

 

 

 

 

Part b:

 

 

 

selling price

3

 

 

variable cost

1.95

 

 

Contribution per unit

1.05

 

 

Fixed cost

27000

 

 

Break even points in unit

25714

 

 

 

 

 

 

 

Problem 12

 

 

 

particulars

present performance

proposal 10000 units

 

present operating capacity

50%

 

 

idle capacity

50%

 

 

sales

40000

10000

 

sales in value

560000

130000

 

selling price per unit

14

13

 

less; Direct material

160000

40000

 

Direct labor

80000

20000

 

Variable overhead

240000

60000

 

total variable cost

480000

120000

 

Contribution

80000

10000

 

less fixed cost

160000

0

 

Loss

-80000

10000

 

 

Decision: Company should accept the offer because if the company accepts the offer then the total loss of the company will get reduced by the profit of RO 10000 incurred on acceptance of offer.

 Solution 6: Budgets and Budgetary control

Problem 1:

         
           

Particular

August

September

October

November

December

Sales

50000

52000

66000

60000

70000

Material

32400

30000

36000

30000

38000

wages

7600

7600

8000

8400

9000

Overheads

3800

4200

4600

4800

5000

           

Cash Budget

Particular

August

September

October

November

December

Opening balance

 

 

8000

16800

34200

collection from the debtor

 

50000

52000

66000

60000

total receivable

 

 

60000

82800

94200

payment:

 

 

 

 

 

Advance tax

 

5000

 

 

5000

Payment to creditor 10%

3240

3000

3600

3000

3800

Payment to creditor 90%

 

29160

27000

32400

27000

wages

7600

7600

8000

8400

9000

overheads

3800

4200

4600

4800

5000

Total payment

 

 

43200

48600

44800

Closing balance

 

 

16800

34200

49400

 

Problem 2:

         

Particular

August

September

October

November

December

Sales

140000

172000

176000

150000

160000

Material

120000

120000

119600

120000

121000

wages

17600

17600

18000

18400

19000

Overheads

13800

14200

14600

14800

15000

           

Cash Budget

Particular

August

September

October

November

December

Opening balance

 

58000

12000

34240

20000

Collection fron debtor 50%

70000

86000

88000

75000

80000

Collection fron debtor 50%

 

70000

86000

88000

75000

Total receipt

70000

214000

186000

197240

175000

payments:

 

 

 

 

 

Advance tax

 

15000

 

 

15000

Payment to creditors 10%

12000

12000

11960

12000

12100

Payment to creditor 90%

 

108000

108000

107640

108000

wages

 

17600

17600

18000

18400

Overheads

 

13800

14200

14600

14800

Purchase of the machinery

 

 

 

25000

25000

Total payment

12000

166400

151760

177240

193300

Closing balance

58000

47600

34240

20000

-18300

 

Problem 3:

       

particulars

June

july

august

september

cash sales

120000

140000

152000

121000

Credit sales

100000

80000

140000

120000

Purchase

160000

170000

240000

180000

Other expenses

18000

20000

22000

21000

Wages

21000

22000

23000

24000

         

Cash budget

Particulars

June

July

August

September

opening cah balance

 

22000

37000

53500

receipts:

 

 

 

 

Cash sales

120000

140000

152000

121000

50% of the credit sales

45000

36000

63000

54000

50% of the credit sales

 

47500

38000

66500

Total receipt

165000

245500

290000

295000

Payments:

 

 

 

 

Purchase 25%

40000

42500

60000

45000

purchase 75%

 

120000

127500

180000

Wages

 

21000

22000

23000

Other expenses

18000

20000

22000

21000

Interest payable

5000

5000

5000

5000

Total payment

63000

208500

236500

274000

Closing balance

102000

37000

53500

21000

 

Problem 4:

         

Particulars

February

March

April

May

June

sales

60000

62000

64000

58000

56000

Material

36000

38000

33000

35000

39000

Wages

9000

8000

10000

8500

9500

Overheads

4000

4200

4600

4800

4000

           

Cash Budgets

Particulars

February

March

April

May

June

Opening balance

 

 

5000

20500

39150

Receipt:

 

 

 

 

 

cash sales

6000

6200

6400

5800

5600

50% of the credit sales

27000

27900

28800

26100

25200

50% of the credit sales

 

27000

27900

28800

26100

Total receipts

33000

61100

68100

81200

96050

Payments:

 

 

 

 

 

Payment to creditor

 

36000

38000

33000

35000

Advance tax

 

 

 

 

8000

Overheads

4000

4200

4600

4800

4000

Wages

4500

4000

5000

4250

4750

Total payment

8500

 

47600

42050

51750

Closing balance

 

 

20500

39150

44300

References

Bogsnes, B., 2016. Implementing beyond budgeting: Unlocking the performance potential. John Wiley & Sons.

Boscia, M.W. and McAfee, R.B., 2014, January. Using the balance scorecard approach: A group exercise. In Developments in Business Simulation and Experiential Learning: Proceedings of the Annual ABSEL conference (Vol. 35).

Cools, M., Stouthuysen, K. and Van den Abbeele, A., 2017. Management control for stimulating different types of creativity: The role of budgets. Journal of Management Accounting Research29(3), pp.1-21.

Grigoroudis, E., Orfanoudaki, E. and Zopounidis, C., 2012. Strategic performance measurement in a healthcare organisation: A multiple criteria approach based on balanced scorecard. Omega40(1), pp.104-119.

Naryana Hrudayalaya, 2018.Annual report. [Online] https://www.narayanahealth.org/sites/default/files/download/annual-reports/NHL_Annual_Report_2017-18.pdf [Accessed 5 March 2019].

Roncalli, T., 2013. Introduction to risk parity and budgeting. CRC Press.

Wildavsky, A., 2017. Budgeting and governing. Routledge.

Winston, W., 2016. Microsoft Excel data analysis and business modeling. Microsoft press.

Yahoo Finance, 2018. Stock Chart. [Online] [Accessed 5 March 2019

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