accounting question 334

After analysing the budget of Woody Toy Shop, you found several mistakes. Write a formal report of a maximum of 800 words to Woody informing him about your findings and recommendations.

The discussion section of the report must include the following aspects:

vExplanation of incorrect entries for the budgeted period (Minimum of ten errors must be included).

vReasons for keeping an updated budget.

vImportance of calculating the difference between the budgeted and actual revenue and expenses by referring to Woody’s budget.

vAdvise Woody on ways of increasing revenue.

vProvide a minimum of 10 ways on how to reduce the expenses.

vInclude your thoughts about Woody’s new credit policy.

 

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