HND 财政预算第二次报告.docx
- 文档编号:3565245
- 上传时间:2022-11-23
- 格式:DOCX
- 页数:8
- 大小:19.87KB
HND 财政预算第二次报告.docx
《HND 财政预算第二次报告.docx》由会员分享,可在线阅读,更多相关《HND 财政预算第二次报告.docx(8页珍藏版)》请在冰豆网上搜索。
HND财政预算第二次报告
Preparingfinancialforecast
Leikai
Business2
Content
Introduction1
Mainbody1
PartA1
Recommendation3
PartB4
Therearesomeotherfactorsthatmanagementshouldconsider.6
Appendix17
Appendix28
Appendix310
Appendix411
Introduction
TheaimofthisreportistoanalysetheTricolPlcoperationalproblemswhichbelongtoaccountingfield.Inaddition,somesuggestionswillalsobeproposedinthisreport.Thereportincludestwopartsindetail,inpartA,someanalysismethodsandoutcomesareincludedaccordingtotheproductof‘Zupper’Expandabletable,andsuggestionswillbegivendefinitely.
InpartB,theTricolPlcwilldevelopitsowndistributionmethodwhichincludesthepurchaseofseveralnewmotorvehicles.Andtheestimatedcostsoftheplannedinvestmentwillbeoffered.Inthispartofthereport,itcanadopttheacademicmethodologytoverifythefeasibilityoftheplanfromtheprofessionalangle.Atlast,theanalysisoutcomeswillbefollowedbysuggestionsattheendofthereport.
Mainbody
PartA
Thedifferencebetweenactualandbudgetedcostliesinthevariance.Inaspectsofmaterialfield,themethodsofevaluatingthebudgetmainlyconsistofthreekinds.
Theresultshowedthroughthedirectmaterialusagevarianceis£8000Favourable(F).Additionally,therateofdirectmaterialusagevarianceis12.5%.(Thestandardwasregulatedfewerthan3%).However,asthedataarefavourable,henceitisagoodformanufacture.Recently,thecompanyhasimprovedtheproductionmachineryusedforexpandabletables,whichmaybeamainlyfactorforthefavourabledata.Newmachinescouldavoidthewasteofmaterialsrandomlyintheprocessofmanufacture.Moreover,astheimprovementofthemachinery,thelabourmightbeincreasinglyefficient,hencetheusageofrawmaterialcouldbesaved.
(Calculateprocessintheappendix1and2)
Thereis£5600Adverse(A)inthisbudgetthroughthecalculationofthedirectmaterialpricevariance.Therefore,thepricevarianceis8.75%whichexceedsthestandardthatisapproximate3%.Astheratestandsfortheactualcostwhichismorethantheanticipatedone,thisproportionhasadverseeffectontheanticipatedprofitwhichwillresultinthedecreaseofit.BecauseTricolPlchaschangedsuppliersandusedhighqualitymaterialswhosepackageisactual£11thanthepredicted£10.Thediscountmightbealossafterthebulkpurchase.Thepricecompetitionofrawmaterialisdisappearing.Inaddition,ononehand,thehighqualityofrawmaterialmightbeoneofthefactorsonthevariance.Ontheotherhand,itwillavoidwasteandinferiorproductrateinproductionprocess.(Calculateprocessintheappendix1and2)
Thedirectlabourratevariance(£3520A)revealssomedeviationsofthelabourrateinthebudgetprocess.Andtheratiooflabourratevarianceisabout12.2%whichalsoexceedsthestandardlevelof3%.Regardingtothepossiblefactors,firstisthatthecompanyhaspurchasednewengineswithinthefactory,whichwillmakemorestaffwhousetheformermachinesefficientlybecomeafreshman.Hence,tomanufacturethesameproductsneedsmoretimeandsalarypaymentalsototallyincreases.Secondisthatrecently,thecompanyhasconcludedahigher-than-expectedwagesettlementforproductionoperatives.Hencetheaverageoflabourincreasesimmediatelyfromexpected£9phto£10ph.Atlast,theunplannedovertimemightbeanotherfactorofthevariance.(Calculateprocessintheappendix1and2)
Thenumberofvarianceis£2880(A)accordingtothedirectlabourefficiencyvariance,anditalsohasreflectedtheadversesituationinthebudgetoflabourefficiency.Andtherateoflabourefficiencyandotherrateisabout10%whichexceedsthestandardfigureof3%.Thisphenomenonoriginsfromthelowerefficiencyoftheworkforce,asthecompanydoesn’tdistributesomefundsonstafftraining.Hence,employees’moralemightbelowerthanthatinthepast,andstaffmotivationsystemshouldbeupdatedforarousingstaff’spassion.Inaddition,althoughthecompanyhasusedhighqualitymaterialcurrently,theinferiorrawmaterialisstillthefocusofthevariance,asitcouldresultintheproductionofdefectivegoods.(Calculateprocessintheappendix1and2)
Lastbutnottheleast,theoutcomeandtherateofoverheadtotalvariancearerespectively£400(A)and3.5%.Therateismultipliedbyactualproductionbeforethetotalactualoverheadsaresubtracted.Labourormachineryefficiencyisactuallynotasexpected.Thecomingoftheseissuesisfollowedbytheincreasinglyoverhead.Additionally,theoverheadrateiscalculatedthroughincorrectmeasureswhichareanticipatedoverheadcostsorbudgetedactivitylevel.(Calculateprocessintheappendix1and2)
Recommendation
Somerecommendationsareasfollow:
Regardingtodirectmaterialusage,TricolPlccouldimprovetheratioofusageofdefectiveproductsandestablishanewefficienttrainingsystemforlabourforce.Itcouldincreasetheproductivityandtheratiooftherawmaterialutilization.Particularly,thefactorymanagementwouldbecautioustosupervisetheusageofrawmaterialintheprocessofthemanufacture.Inaspectofmaterialpricefield,thecompanycouldconductsomediscountsonrawmaterialsthroughnegotiatingwiththenewsupplier.Itisobviousthatreservingmaterialisagoodmethodtoreachthelowprice.Besides,itneedstheeffortofthePublicRelationsDepartmenttokeepagoodrelationshipbetweenthefirmandthesupplier.
Next,thedirectlabourrateplaysanimportantroleinthissystem.Asthelaboursituationnotonlyaffectsthefinalprofitmarginsbutalsothedurationoftheproducts,therefore,theareaofskilledstaffinprocessoftherecruitmentshouldbefocusedbythehumanresourcemanager.Thefirststageinthelabourcontrolpartisthecompletedlabourtrainingsystem.Inaddition,itcouldbeagoodstrategytohurtmasterlystafffromcompetitor.
Then,thatthecompanycoulddistributepropersubordinatesindepartmentofproductionisreflectedthroughthelabourefficiencyrate.Themethodisusedefficientlyinmanufacturefactory.Andthenewtrainingsystemcouldalsoimproveitsefficiencydefinitely.Intheend,astheoverheadtotalvariancerateisadverseforthecompany,hence,theoverheadcalculationmethodshouldbereformedorcorrected.Itisluckytouselargenumberofmethodologies.Moreover,somefixedoverheadscostsuchasinsurancecostsandadministrationoverheadcouldbereducedbytheseniormanagerandthemaximumprofitmarginsalsocouldbekept.
PartB
ThenewplanofTricolPlcincludesthethepurchaseofseveralnewautomobile,theacquisitionofsomeadjacentlandandapurpose-builtloadingunit.Twomethodsforevaluatingtheobjectivefeasibilityarethefollowing:
Thefirstperiodiscalledpayback.Someassumptionssuchastaxfloatingandinflationarenotconsideredinpaybackmethod,becausetheseassumptionsareexternalfactorswhichcannotbecontrolled.Fromtheacademicangle,thatthecompanyshouldhavenocashinfloworoutflowinfiveyearsisrequiredinthenewinvestmentplan,asintheplan,thegeneratedadditionalprofitisfixed.Andthecompanyshouldconsidertheseelementsseriously.
ThepresentvaluesofcashinflowsandoutflowsarecalculatedbythemethodofThenetpresentvalue(NPV).Somepremisesexistinthemethod.Itisobviousthatthedifferenceinvalueofmoneyisaffectedbyinflation;However,inflationisnotthemainlyfactorcompletely.Therefore,inflationfactoranduncertaintydoesnotexist.Infact,itisknownthattoavoidunnecessarycalculations,thesuitablediscountrateisused.Atlast,itisavitalassumptionthatunlimitedfundsalsocanberaisedatacompetitiverate.
Ingeneral,thepaybackmethodisthesimplestfortheinvestmentandeasytounderstand.Actually,toagreetheprojectintheshortestpaybackperiodistheusualdecisionrule.Hence,theplanrequirestobeestimatedbythissimplemethodology.ConsideringtheTricolplcplan,thepaybackperiodlastsabout4yearsand1.5timesmonth.Itisinaccordancewiththeprojectrecoupingplanwhichregainstheinvestmentcostinhalfofdecade.Fromthemethodangle,theplansoundsgood.However,aftermeetingandriskingtheinitialoutflow,thecashflowshavebeenignoredinthemethod.Itshouldbenoticedthattimevalueofmoneyhasbeenignored.(Detailsinappendix3)
Hence,thenetpresentvalueapproachcalculatesthefigureofplantoanalysetheactualreturn.Thisapproachputsanobjectivefoundationtoestimateandselectinvestmentprojects.Moreover,NPVapproachconcentratesoncashinflowandoutflowsratherthanonaccountingprofits.Lastbutnottheleast,timevalueofmoneyisconsideredinthismethod.Althoughthismethodneedsmanyassumptionssuchasthecertaintyofaworld,thefirmcanborrowasaskedandatacompetitiverateofinterest.
ItcanbeseenfromtheNPVcalculationinpersonal.Actually,TricolPlccouldonlyregain£935,200after5years.Andthenetpresentvalueis£-64,800.Itisnodoubtthatthesuitableprofitcouldnotbebroughttocompanythroughthisplan.Hence,thenewplanofdistributiondevelopmentisimpractical.Themanagerwouldnotcarryouttheactivity,andhemustselectabetterplanasfastashecould.(Detailsinappendix4)
Therearesomeotherfactorsthatmanagementshouldconsider.
Atthebeginning,themanagershouldfocusonthetrendofthefinance;thefinancialcrisisisanuncontrollableexternalfactorforthecompanyanditcouldaffecttheriskoftheplan.Therefore,itmightalsoinfluencetheexchangeandcurrencyvalue
Secondly,thenewinvestmentrepresen
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中含有的国旗、国徽等图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- HND 财政预算第二次报告 财政预算 第二次 报告
![提示](https://static.bdocx.com/images/bang_tan.gif)