Looking at the Ageing Summary tab – answer the following:
1) How will you address the unpaid invoices listed here? Outline the action you would have your team take to obtain payment
2) Explain what the ‘Terms’ mean for both clients and why they may differ?
Petty Cash
Looking at the Petty Cash Summary tab – answer the following:
1) Considering the dates of transactions – would this balance of $100.00 be a sufficient amount of Petty Cash for the organisation?
2) Is this adequate documentation for petty cash? What else would you expect to be attached to the summary?
3) Research the general uses of Petty Cash within businesses and organisations and outline what are the ‘normal’ uses for Petty
4) Who is normally responsible for the managing of this cash?
Cash Flow Statement
Looking at the Cash Flow tab and comparing the 2nd and 3rd Quarter statements from 2020 – answer the following:
1) What is the major variance between the two quarters in relation to cash paid for?
2) Is the expected income going to be appropriate in a forecasted period of 12 months based on the trends of your cash flow statement? Please explain your answer.
3) IF the forecasted income is not deemed high enough by Senior Executive what areas will the organisation need to focus on to increase the income/cash received?
Profit and Loss Statements
Looking at the Profit and Loss tab and comparing the 2nd and 3rd Quarter statements– answer the following:
1) What areas will need immediate review if the NET PROFIT continues to decrease?
2) Is there an item in the 3rd Quarter statement that stands out as needing more explanation? Identify why and explain your answer please.
Looking at the Balance Sheet tab and comparing the 2nd and 3rd Quarter statements– answer the following:
1) Review and analyse the Liabilities in both quarters – outline the differences and explain why this may have occurred ‘in your opinion’ – research this first.
