Based on your variance report (Task 3A) write report to management identifying any unacceptable variances in accordance with your finance policies. Also comment on any large variances which highlight exceptional performance.

Discuss the company's financial reporting procedures and make recommendations that could be made to its

- business performance and

- financial management

Actual Variance ar Variance % Q3 Actual Variance ar Variance FY Actual Variance % Q1 Variance ar Variance % Q2 Variance ar Variance % Q4 REVENUE 15000 25000 22500 17500 15000 -14.29% 15000 2500 Commissions 77500 50000 50000 5000 50000 0.00% 200000 0.00% 50000 0.00% 50000 Direct wages fixed 200000 -100000 -14.29%% 3100000 2900000 200000 .6.45% 600000 1000000 -100000 -10.00% 800000 14.29% 700000 -175000 -7.22% 440000 -92500 825000 732500 -92500 -11.21% 532500 640000 107500 532500 -92500 -17.379 2247500 10.00% -1000 -20.00% 1000 20.00% 6000 20.00% 5000 6000 1000 Travel 20000 22000 -100 -8.00% 1150 -100 -8.00% 1250 1150 -8.009 1250 Legal Fees 5000 -500 1050 -200 0.00% 150 0.00% Bank Charges 700 200 250 1250 .000 250 -20.00% 1000 250 -20.00% Office Supplies 000 4000 1250 1000 250 -20.00% 100 125 25.00% 100 25.00 Postage & Printing 400 100 25.00% 25.00% 100 25 20.00% 100 20.00% 125 150 25 125 150 25 125 150 25 20.00% 125 150 Dues & Subscriptions 50 600 250 300 12.009 Telephone 10000 11200 12.00% 2800 300 12.00% 2500 300 2500 2800 300 12.00% Repairs & Maintenance 5250 0.00% 25000 25000 0.00% 5250 0.00% 5250 0.00% 5250 0.00% Payroll Tax Marketing Expenses 4.00% 52000 4.00% 50000 56000 6000 50000 0.00% Advertising 200000 11250 11250 11250 11250 0.00% Employment Expenses 45000 45000 o 0.00% 11250 11250 0.00% 11250 11250 Wages & Salaries 20.00% 1000 20.00% 20000 15.00% 6000 20.00% 5000 1000 Occupancy Costs Electricity 5.00% 10000 25000 25000 25000 0 25000 Insurance 100000 0.00% 25000 25000 0.00% 0.00% 0.009 100000 0.00% 0.00% 0 0.00% 50000 0.009 Rent 200000 200000 0.00% 50000 33.33% 500 10000 500 33.33% 500 0.00% 500 500 0.00% Water 30000 5000 16.67% 500 10000 20.00% 12500 15000 20.00% 12500 15000 2500 20.00% 12500 15000 2500 20.00% 50000 20.00% 12500 342375 1500 1.33% 337875 342375 4500 1401500 1422500 21000 1.50% 362825 -0.01% 374925 12050 3.32% 194625 297625 52.92% 97625 97000 49.84% NET PROFIT (BEFORE INTEREST & TAX) 1021000 825000 196000 19.20% 92450 462125 -104550 -22.62% -54.50% 115531.3 89393.75 -26137.5 Income Tax Expense (25%Net)