BSBFIA402 Report on Financial Activity

Published : 28-Sep,2021 | Views : 10

Question:

Identify the asset and liability valuations that the organisation has recorded on the Balance Sheet.Complete a comparison of the Profit and Loss Statement and Budget and identify any information that requires further investigation due to a discrepancy, unusual feature or query.Complete financial calculations.

Answer:

Following are the assets and liabilities which organization has made valuation are as follows:
Plant & Equipment
Stock in Hand
Provision for Employee entitlement

Following are the observations which should be kept in mind from now onwards

Sr. No	Item Name	Details
1.	Computer Expense	This expense has increased from $14000 to 15750 which is very high unfavorable variance. This might due to repair of some old computers or AMC might have taken.
2.	Factory rental	Factory rental has doubled. This should be of great concern. This clearly shows there is some mistake while preparing budget or might be extra godown has to be taken of which rental was not budgeted initially.
3.	Filling Fees/ Fines	There might be a situation that all the statutory compliances are not completed on time. So, tight eye should be kept on this.
4.	Legal fees	Lawyer has increased his fees which should be taken care of or some extra lawyer has been appointed.
5.	Motor Vehicle Expense	Repair of old motor cycle can be there.
6.	Postage/ Couriers	In this year postage can be more or outside the city communications can be more which can be done only through couriers or some personal courier charges has been debited in this account.
7.	Staff Amenities	More perquisites have been given to the employees. Might be employees have performed better because of which amenities have been given.
8.	Sundry Expenses	Misc. expenses other than specified expenses. Proper check should be there on detail.

CAROL’S CUP CAKES
MOBILE PHONE EXPENDITURE
Sales Representative	Jan 09	Feb 09	Mar 09	Apr 09	May 09	Jun09	Average Monthly Spend
Charlotte Sherlock	122	124	116	128	118	127	123
Brody Spears	112	114	106	118	109	116	113
Archie Short	119	121	113	125	115	124	120
Abby Pope	157	160	149	165	152	124	151
Jack Smythe	123	125	117	129	119	128	124
Olivia Burke	145	148	138	152	141	151	146
Grace masters	178	182	169	187	173	185	179
Henry Fulton	148	151	141	155	144	154	149
Oliver harris	132	135	125	139	128	137	133
Mia Wright	95	97	90	100	92	99	96
Average Monthly Spend	133	136	126	140	129	135

Charlie’s Coffee Cave 22 Speckle Street Boom Town NSW 2556

A.B.N 32487987652

Date: 19 December 2009

To. It’s All Glamour Christmas party

45 major Road

Stockton NSW 2774

Qty	Description of Supply	Unit Price	GST	Total
100	Catering Services	40	4	4400

FOR INVOICE LESSER THAN 1000

TAX INVOICE

Charlie’s Coffee Cave 22 Speckle Street Boom Town NSW 2556

A.B.N 32487987652

Date: 19 December 2009

To. It’s All Glamour Christmas party

45 major Road

Stockton NSW 2774

Description of Supply	Total
Catering Services	4400
Total Amount inclusive of GST 4400

Amount of payroll tax payable	$6140
Payroll tax rate applied	10% of the wage bill

3 For cash payment template see attached excel sheet

4 For cash receipt template see attached excel sheet

5 For Bank reconciliation see attached excel sheet.

G1: Total Sales: $ 11100

Does the amount shown above includes GST: YES

G2: Export Sales: NIL

G3: Other GST free Sales

G10: Capital Purchases: $16500

G11: Non- Capital Purchases : $1200

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