BUSS1030 Lecture Notes - Lecture 12: Financial Statement, Accounts Payable, Income Statement
20 Jul 2018
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Cost of sales and associated expenses care will need to be taken to differentiate fixed and variable expenses. Dividends transfers to reserves: assumptions/estimates relating statement of financial position. Amount or proportion of profits retained: assumptions/estimates relating to cash flow statements. Acquisitions of non-current assets levels of working capital loans raised and repad taxation. Budgets and forecasts time horizons of plans and budgets long-term plans are typically five years: budgets typically set for 12 months, appropriate time horizon depends on business and industry. It needs to be continuously changed: budgets may also be done on a rolling monthly" basis. Continually updated limiting factors: aspects stopping a business achieving its objectives to the maximum always exist labour stuff you can"t control. Encouraged managers to adopt a more questioning approach to their areas there can be no reliance on needs form earlier periods of responsibility.
