Your organisation has a turnover of approximately $12 million per annum. Last year it made a profit of $1.9 million.

Use the list to prioritise the issues referred to below by placing a 1 alongside the issue which should be dealt with first, a 2 alongside the issue which should be dealt with next, a 3 alongside the issue which should be dealt with next and so on.

Issue

• After reviewing a draft profit and loss statement it appears that the organisation might not achieve its profit goals by approximately $560 this financial year.

• You have just had a meeting with the organisation's auditors. They have informed you that the organisation might have been trading insolvent for approximately two months; however, they tell you that they might be mistaken as they do not have access to all data.

• After calculating the break-even point for various products within your organisation you determine that the organisation's biggest selling product is being sold at a small loss.

• After preparing a cash flow budget you determine that the organisation will have a surplus of around $450,000 cash next month. You consider it would be prudent to invest the surplus.

• You see that a supplier is no longer providing a discount on high volume sales. This will mean that the organisation will not be entitled to around $20,000 in discounted purchases in the coming financial year. You resolve to check whether a competitor offers a better deal.