SITXFIN004

***All the Answer For Cafe***

1.Make draft budget for purchasing and installing 5 new front of house and kitchen equipment for a small Caf.

• Who would you speak to about budget development?
• What are the duties and responsibilities of a budgeting(Accounts) department?
• How to negotiate the budget?
• How can you encourage teamwork when creating a budgets?
• How would you finalise the budget?

2.What are the advantages and disadvantages of using different budgeting templates and techniques?

**Research' advantages and disadvantages of templates in budgeting' or Research - advantages and disadvantages of budget templates

3.Imagine you are consulting with the accounts department, make draft profit and loss budget for the next two financial quarters. (Jan-Mar + Apr-Jun)

***Make template like below.Please use your own numbers

Example...

Jan- Mar Arp- Jun Sales $40,000 50000 Direct Cost of Sales $14,000 15000 Gross Margin $26,000 35000 Expenses Payroll $10,383 15000 Sales and Marketing and $2,150 3000 Other Expenses Depreciation $450 450 Rent $4,400 4400 Maintenance $400 500 Utilities/Phone $750 770 Other expenses SO Total Operating Expenses $18,533 24120 Net Profit $7,467 10880Front of house Kitchen CEO How you would review the budget to assess actual performance against estimated performance How you would Investigate and take appropriate action on significant budget deviations How you would report budget variance analysis How you would store and file the budget reports