You have commenced your role. Matt advised you that all budgets/
financial plans are able to be accessed from the accounts
department. Draft an email to the accountant asking for copies of
the documents you need. You must include the following in your
â€¢Â Â Â Introduce yourself, use the name of the accountant and outline the working relationship you hope to have. Specify at least three reports you will need to begin your analysis:
Question 2Â Â Â
The accounts department has responded to your email. The response and all budget and financial documents available have been sent to you and are attached as Appendix. Review the provided documents and consider them in line with the objectives set in the scenario. Answer the following questions using figures to demonstrate your thoughts:
2a Â Â Â Please provide comments on at least three issues from the forecast, aged payable and aged receivable summaries. Minimum 75 words.
2bÂ Â Â Are the financial budgets that have been presented able to be understood? Who would you consult with if you were unsure about your understanding of the financial budgets?
2cÂ Â Â You have noticed the forecast sales for December through to March are similar even though, you and Matt know traditionally sales are higher during the Christmas period for catering and cafÃ© sales.Â Who should you consult with to clarify your thoughts and why? Hint: Consider your team. Minimum 25 words
3aÂ Â Â You realise the sales figures for January, February and March are not realistic. You feel you need to renegotiate the budget with Matt and Kurt. Using the information in the Cash Flow forecast provided in the appendix 1, and considering your objectives for manufacturing, specify three items for further discussion with Matt and Kurt.
Hint: Consider your objectives, volumes sold to help achieve your desired outcomes.
3bÂ Â Â It is important to have thorough preparation for a successful negotiation, what would you need to consider? Â
Matt and Kurt have agreed on the need to review the sales figures for the next three months. You all agree to reduce the sales figures by 15% for each of the three months. There has been a directive however via the CEO of the CA City Retail Group, he is insisting on achieving a gross profit ratio of 37 % by the end of the financial year. You need to complete the following forecast document template here using the new figures for January, February and March.
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