Chapter 1 The Contracting Business Business Fail Poor Planning and management Poor sales‚ high operating expenses‚ no invoice collection‚ too many fixed assets‚ inventory problems‚ poor location‚ fraud Business Plan Planning Tool Loan or Investor Document Benchmaking Tool Cover page‚ executive summary‚ company summary‚ products/services‚ market analysis‚ marketing strategy‚ financial plan Pitfalls Realistic Assumptions Simple Language Risks as well as opportunities Analyze
Premium Employment Contract Expense
PBPA lawyer‚ Mr. Hanrahan‚ that depreciation expense should not be included in the income statement of the team since there are no plans on selling the equipment‚ only plans of sharing profits with the team players. Besides‚ experience can definitely add value to the team and increase revenue for the team. The better the players become‚ the better the games‚ the better the games‚ the greater the audience. Who is right? & Why? Overstated player salary expense Spreading players’ bonuses over the length
Premium Major League Baseball Salary Baseball
Entries: 1. A year-end physical count of office supplies on hand reveals supplies worth $1‚800. The balance sheet reflected a balance in the office supplies account of $3‚700 before any year-end adjustments were made. What is the amount of supplies expense that will be included on the current year income statement? 2. On December 1‚ 20Y1‚ Nelson collected rent of $7‚200 (for December‚ January‚ and February rent) from a tenant renting some space in its warehouse and credited Unearned Rent Revenue
Premium Revenue Depreciation Balance sheet
Worksheet (for year ended 30 June 2010) | $ | $ | Accounting profit | | 256 700 | Add: | | | Entertainment expense (non deductible) | 1 700 | | Depreciation – buildings (non deductible) | 7 600 | | Depreciation – plant | 22 500 | | Insurance expense | 4 200 | | Development expenditure | 15 000 | | Doubtful debts expense | 4 100 | | Annual leave expense | 46 000 | 101 100 | | | | Deduct: | | 357 800 | Royalty revenue (tax exempt) | 8 000 | | Bad debts written
Premium Asset Taxation in the United States Tax
achieve the net profit of $1 million. 1. Develop a new budget based on how the ideal profit and loss statement should look if it reflects the president’s bottom-line objective for ZCT. Justify your expenses for each of the five budgeted expense areas. SALES $12‚000‚000 Less Expenses: Sales $1‚800‚000 Production 6‚850‚000 Marketing 1‚500‚000 Administration 450‚000 Service + 400‚000 - 11‚000‚000 $ 1‚000‚000 Justifications: •
Premium Marketing Production line Expense
Level 2 Book-keeping and Accounts Teachers’ Toolkit (Sample) January 2010 For further information contact us: Tel. +44 (0) 8707 202909 Email. enquiries@ediplc.com www.lcci.org.uk INTRODUCTION Welcome to the Teachers’ Toolkit for Level 2 Book-keeping and Accounts. This Teachers’ Toolkit is a set of inter-related materials‚ developed by experienced teachers and the Chief Examiner‚ to support the teaching and learning of the qualification content. The main resource in the toolkit
Premium Income statement Material Expense
Taxation law – Final Notes General Deductions Section 8-‐1(1) (1) You can deduct from your assessable income any loss or outgoing to the extent that: (a) it is incurred in gaining or producing your assessable income; or
Premium Money Tax Expense
Promotes efficiency. Control device - important basis for performance evaluation once adopted. 23-4 LO 1 Indicate the benefits of budgeting. Budgeting Basics Budgeting and Accounting Historical accounting data on revenues‚ costs‚ and expenses help in formulating future budgets. Accountants normally responsible for presenting management’s budgeting goals in financial terms. The budget and its administration are the responsibility of management. 23-5 LO 1 Indicate the benefits
Premium Budget Income statement Revenue
Michael Dell founded Dell in 1984 at the age of 19. Steve Jobs and Steve Wozniak designed Apple Computer on April 1‚ 1976. As both companies continue to grow they have contributed to a wide impact on competiveness and efficiency towards strategic goals. Dell Computer Corporation is one of the most visible success stories in the computer market. By selling personal computers directly to customers over the Internet‚ offering a build-to-order sales system‚ and then linking suppliers‚ workers‚ managers
Premium Dell Apple Inc. Income statement
Accounting ; Budgets 1. Define the term Budget. A Budget is an estimate of income and expenditure over a specified period‚ reflecting a reading of future finsncial conditions and goals. It is an itemized summary of estimated or intended expenditures for a given period along with proposals for financing them. 2. Name and briefly describe six benefits that a business can gain from budgeting. The budgeting process can have a good motivational impact by involving managers
Premium Budget Expense Cost