Purpose of Assignment
In this assignment, you will be evaluating a cash budgeting scenario and developing a financial plan for a fictional business.
Review the Cash Budgeting Scenario.
Calculate the cash budget using the Cash Budget Worksheet, and use the Cash Budget Worksheet Answers to review your work.
Write a 700- to 1,050-word financial plan in which you complete the following:
-Discuss potential cash budget benefits and pitfalls for the business, including how the budget supports the strategic goal of the business to increase revenue by 10% annually.
-Outline your expected business expenses (e.g. fixed and variable costs, marketing, labor, operations, insurance) and sources of revenue (e.g. funding, sales of products/services).
-Include an income statement, balance sheet, and cash flow statement.
-Explain how you will adjust your small business cash budget to manage contingencies (such as emergencies and market shifts) as well as product and distribution shifts.
-Compare the differences between a cash budget and an operating budget, and explain why both are beneficial.
-Explain why a budget variance analysis is crucial for the operation of a business, and discuss how often a budget variance analysis should be performed.
-Summarize your findings/recommendations.
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