Question
I need help with these Complete the budget template The following financial management skills are important for small business owners and stakeholders that have an
I need help with these Complete the budget template The following financial management skills are important for small business owners and stakeholders that have an interest in your business. This assessment will focus on the financial management skills required by a small business owner. For this assessment, please refer to the Modules in your course, and the Case Study IT Repairs Ltd. Case Study IT Repairs Ltd Ian Templeton is 100% Shareholder of IT Repairs Limited - where he maintains computer equipment and phones. His work is carried out from a small shop on the main street of Asmalltown. Most of his charges relate to repairs but he does import computer equipment on behalf. All amounts include GST. Sales for January are expected to be $8,000. Grows 1% per month until September, drops to $2,000 in October (closed part of month). Sales stay at September levels for November and December. Purchases of stock is 25% of sales Accounting fees $1,725 - in July Runs an advertisement in local paper $57.50 per month Bank Fees are $23 per month Electricity for the shop is $230 per month Telephone and internet costs are $230 per month Rent of "shop" is $575 per month Stationery is $13.80 per month Insurance of $1,753.75 - in October Iain Templeton pays himself wages of $3,500 per month (Note: Ians wages include PAYE) Assets - depreciation is $300 per month General expenses are $85 per month
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