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Title: IGCSE Business Studies- Budgets and Cash flow forecasts
Description: International GCSE students will find these notes useful.They are short, precise and to the point.
Description: International GCSE students will find these notes useful.They are short, precise and to the point.
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Budgets and Cash flow forecasts
Budget- A financial plan for the forthcoming year that is drawn up to help a business achieve its
objectives
...
Budgeting Process
1) Planning costs,revenue and profits
2) Monitoring and recording actual revenues & costs
3) Variance analysis- Comparing planned and actual budget
4) Making appropriate adjustments to the plans
Variance- It occurs when there is a difference between the budgeted figure and the actual figure
...
*2) Production budget-Forecasts the number of units of each product that the business aims to
produce over the next year
...
It may show how
money allocated is spent
*4) Labour budget- The employees needed to produce the output and make sales and their costs
in terms of wages and salaries
*Master budget- A combination of all types of budget which will result in the predicted final amount
of money required
...
Cash Flows
Net cash flow- Refers to the difference between the cash flowing into the business and cash
flowing out of the business
...
Cash inflow- Money flowing into the business due to transactions
Cash outflow- Money flowing out of the business due to payments that have to be made
Net cash flow= Cash inflow- Cash outflow
Cash Flow statement- A financial accounting document which shows the cash inflows and cash
outflows for the business over the past 12 months
Cash Flow forecast- A management accounting document which outlines the forecasted future
cash inflows and the outflows per month
Title: IGCSE Business Studies- Budgets and Cash flow forecasts
Description: International GCSE students will find these notes useful.They are short, precise and to the point.
Description: International GCSE students will find these notes useful.They are short, precise and to the point.