Premium Essay

Unit 5 M1

Submitted By
Words 1027
Pages 5
Task 1: One of the major tasks of the management accountant is to produce a budget. Explain why this is done and the type of information it should contain.

A budget is a detailed plan for the acquisition and use of financial and other resources over a specified time period, which is prepared in advance by using past data (Seal, et al., 2015, p.462).

Before starting to produce budgets, the organisation ought to ensure its overall strategic goals. To achieve these goals, firstly, its management accountant should create various budgets to reflect its expected future results. Then the organisation will take actions based on the strategy and the accountant could obtain the actual outcomes. Compared the actual outcomes with the expected results
…show more content…
As can be seen from the previous budgets, the expected visitor number has a great effect on these budgets. However, due to the impact of some factors, the prediction could not be always accurate. As for external influence, it is hard to forecast its customer flow when the market environment has changed. For instance, having intensive competition with nearby zoos may have an impact on predicting a number of its expected visitors. Besides, the opening times and admission prices are different as the season changes. It stays open longer and charge more fees in spring and summer while closing early and decreasing the admission price for the rest of time. Consequently, predicting outcome should take into account seasonality. Sometimes advertising and inflation also could influence it. In terms of internal factors, price variation is the most effective approach to influence its estimated customer numbers. Thus the zoo charges more fees at the peak of tourism, which probably increases the difficulty of forecasting. In the case of some special events or circumstances, the expected visitor numbers also will fluctuate. On Mother’s Day, Banham Zoo gives all mums free admission (Banham Zoo, 2017). For another example, POKÉMON GO LURE EVENT will be held in Banham Zoo to attract more Pokemon Go players, which will make the prediction far more challenging (Banham Zoo, …show more content…
Firstly, its overall trend could be obtained by dividing the total increase in average sales by the number of the time periods. Given the seasonality, its forecasted sales are equal to the trend plus the average seasonal variation when the seasonal variation will be exhibited in pounds or units. Or they are going to equal to the trend multiplied by the seasonal variation proportion. Hence, the organisation could know the estimated sales in accordance with the time and then calculate the forecasted visitor

Similar Documents

Premium Essay

Unit 5, P4, M1, D1

...Energy keeps all living organisms alive, as they need a continual supply of energy to function in order to survive. Some of these processes are continuous such as, metabolism, which is the chemical reactions which occur in the body, these occur by using or releasing energy from chemical substances. Another continuous process which use energy is the transporting of molecules in order for them to break down, and to build new ones. The breakdown of large molecules into their simpler forms to release energy is known as catabolism, for example, when glucose is used in a cell to release energy. And the opposite reaction, is called anabolism. This is when energy is used to build complex structures from simple cells, for example, tissue growth and repair. Catabolism and anabolism, are the chemical reactions which are known as metabolism. Whereas other processes such as, muscular contraction and movement only happen at certain times. The role of energy is essential for muscular activity and movement, but also for the circulation of blood, lymph and tissue around the body, for breathing and taking in oxygen, for making new cells for growth and repair. Energy is also used to transmit nerve impulses to which make the body respond to changes in the environment, and to help build complex molecules such as enzymes, and hormones. Energy can’t be created or destroyed; although it can be transferred from one form to another. There are two laws of energy: the conservation of energy and the......

Words: 766 - Pages: 4

Free Essay


...RAFFLES GIRLS' PRIMARY SCHOOL SEMESTRAL ASSESSMENT 1 MATHEMATICS (PAPER 1) PRIMARY 5 Name: ( ) Form Class: P5 Banded Math Class: P5 Duration: 50 min Date: 10 May 2011 Your Score (Out of 100 marks) Your Score (Out of 40 marks) Parent's Signature INSTRUCTIONS TO HAMninATFS 1• Do not turn over this page until you are told to do 2. Follow all instructions carefully. so. 3. Answer ALL questions and show all working clearly. 4. NO calculator is allowed for this paper. Pagel of 12 SECTION A (20 marks) Questions 1 to 10 carry 1 mark each. Question 11 to 15 carry 2 marks each. For each question, four options are given. One of them is the correct answer. Make your choice (1, 2, 3 or 4). Shade your answer (1, 2, 3 or 4) on the OAS provided. All diagrams are not drawn to scale. 1. How many ten-dollar notes make up $201 010? (1) (2) (3) (4) 10 20 2 010 20101 2. What is the product of 83 * 700? (1) (2) 581 5 810 (3) 58100 (4) 581 000 Page 2 of 12 3. Find the volume of the cuboid shown below. 28 m (1) (2) 84 m3 140 m3 (3) (4) 168 m3 840 m3 What is the missing number in the box? • 9 d) 6 2 3 (2) (3) (4) 8 14 15 ->• k txpress — as a mixed number. c 38 (D (2) 3* 4 4 (3) (4) 94 9! 2 Page 3 of 12 6. Which of the following figures cannot be tessellated? (D (2) (3) (4) ( ) 7. In 43.21, which digit is...

Words: 3367 - Pages: 14

Premium Essay

Working Students

...A) wealth B) income C) money D) credit Answer: C 3) Currency includes A) paper money and coins. B) paper money, coins, and checks. C) paper money and checks. D) paper money, coins, checks, and savings deposits. Answer: A 4) The difference between money and income is that A) money is a flow and income is a stock. B) money is a stock and income is a flow. C) there is no differencemoney and income are both stocks. D) there is no differencemoney and income are both flows. Answer: B 5) It is true that A) income and wealth are both stocks. B) money and income are both stocks. C) income is a flow and wealth is a stock. D) money and wealth are both flows. Answer: C 6) An individual's annual salary is her A) money. B) income. C) wealth. D) liabilities. Answer: B 7) A person's house is part of her A) money. B) income. C) liabilities. D) wealth. Answer: D 8) Money is A) anything that is generally accepted in payment for goods and services or in the repayment of debt. B) a flow of earnings per unit of time. C) the total collection of pieces of property that are a store of value. D) always based on a precious metal like gold or silver. Answer: A 9) Which of the following are true statements? A) Wealth is a stock variable. B) Money is a flow variable. C) Income is a stock variable. D) Wealth is a flow variable. Answer: A 10) ________ is used to...

Words: 3739 - Pages: 15

Premium Essay


...alternative that best completes the statement or answers the question. 1) To an economist, ________ is anything that is generally accepted in payment for goods and services or in the repayment of debt. 1) _______ A) credit B) money C) wealth D) income 2) Money is 2) _______ A) a flow of earnings per unit of time. B) anything that is generally accepted in payment for goods and services or in the repayment of debt. C) always based on a precious metal like gold or silver. D) the total collection of pieces of property that are a store of value. 3) Currency includes 3) _______ A) paper money, coins, checks, and savings deposits. B) paper money and coins. C) paper money and checks. D) paper money, coins, and checks. 4) The total collection of pieces of property that serve to store value is a person's 4) _______ A) wealth. B) money. C) credit. D) income. 5) A person's house is part of her 5) _______ A) money. B) income. C) wealth. D) liabilities. 6) ________ is used to make purchases while ________ is the total collection of pieces of property that serve to store value. 6) _______ A) Money; wealth B) Income; money C) Money; income D) Wealth; income 7) ________ is a flow of earnings per unit of time. 7) _______ A) Money B) Income C) Wealth D) Currency 8) An individual's annual salary is her 8) _______ A) income. B) money. C) liabilities. D) wealth. 9) When we say that money is a stock variable, we mean that 9) _______ A) the quantity of money is measured at a given point......

Words: 3207 - Pages: 13

Premium Essay

Unit Accounts

...Unit of accountMain article: Unit of account A unit of account (in economics[25]) is a standard numerical monetary unit of measurement of the market value of goods, services, and other transactions. Also known as a "measure" or "standard" of relative worth and deferred payment, a unit of account is a necessary prerequisite for the formulation of commercial agreements that involve debt. To function as a 'unit of account', whatever is being used as money must be: Divisible into smaller units without loss of value; precious metals can be coined from bars, or melted down into bars again. Fungible: that is, one unit or piece must be perceived as equivalent to any other, which is why diamonds, works of art or real estate are not suitable as money. A specific weight, or measure, or size to be verifiably countable. For instance, coins are often milled with a reeded edge, so that any removal of material from the coin (lowering its commodity value) will be easy to detect. Store of valueMain article: Store of value To act as a store of value, a money must be able to be reliably saved, stored, and retrieved – and be predictably usable as a medium of exchange when it is retrieved. The value of the money must also remain stable over time. Some have argued that inflation, by reducing the value of money, diminishes the ability of the money to function as a store of value.[4] Standard of deferred paymentMain article: Standard of deferred payment While standard of deferred payment......

Words: 704 - Pages: 3

Premium Essay

Explain How Quartiles, Percentiles and the Correlation Coefficient Are Used to Draw Useful Conclusions in a Business Context.

...! ! Course Unit No. Unit Name Unit code Batch Student Assignment Covering Form Course/Unit Information Pearson (Edexcel) BTEC Level 5 Higher National Diploma Unit 6 Business Decision Making D/601/0578 J65-1403/E65-1403 ! Name Phone Skype ! ! Instructor Information Anil Ahluwalia +971 52 905 9904 anilbaljit ! ! ! Email Assignment Information Full/ Part Assignment Date Assignment Issued Part 11/03/2013 Tasks-1&2: 29/03/2014 ! Date Assignment Due ! ! Student Information (To be filled by the student prior submitting the assignment) Name Westford Student ID Edexcel Student ID Email Tsion Girma Birru Date of Submission March 29,2014 All the submissions to be done through e-front LMS, no email or other format will be accepted.Student Assignment covering form is an integral part of the assignment document and should be submitted along with all submissions. ! ! Student Declaration ! ! I, Tsion Girma Birru hereby confirm that this assignment is my own work and not copied or plagiarized. It has not previously been submitted as part of any assessment for this qualification. All the sources, from which information has been obtained for this assignment, have been referenced as per Harvard Referencing format. I further confirm that I have read and understood the Westford School of Management rules and regulations about plagiarism and copying and agree to be bound by them. ! ! ! ! ! ! !...

Words: 3533 - Pages: 15

Premium Essay


...Assignment brief Unit number and title Unit 14: Working with and Leading People Unit 13: Personal and Professional Development Qualification Pearson BTEC Level 4 and 5 Higher Nationals in Business Start date 09/05/2016 Deadline/hand-in 30/06/2016 Assessor Zakwan Rahman Assignment title Cycle of Human Resources Purpose of this assignment Human Resource is one of the vital department in an organization. Human Resources Department need to perform their roles efficiently to help an organization achieve their vision and mission. Handling the resources will be a big challenge to the department and numbers of obstacle problems will arise from time to time. Apart from the roles of Human Resources, leading a group of people to achieve the same mission also can be listed out as a challenge. By possessing the skill of leadership, the personnel can prevent any problems, reduce the risk and achieve the objective. This assignment will help the student to know the role of Human Resources Department more clearly and learn the attributes to become a great leader. Scenario You are working as a human resource personnel at A new problem arises in the. The problem is related to the Human Resource Department. There are few cases have been reported to the labour court. Most of the cases are related with the previous employee that been terminated. Apart from that, there are also problems with the new appointed employees. In certain departments, there...

Words: 1233 - Pages: 5

Premium Essay

Organization Behavior

...Qualification | Unit number and title | Pearson BTEC Level 5 HND Diploma in Business | Unit 3: Organisations and Behaviour | Student Name | Assessor Name | | Ms. Sonam Mehta | Date issued | Completion date | Submitted on | 7th February 2014 | 17th April 2014 | | | Assignment title | Comparative study of Organisational Behaviour of two chosen organisations | LearningOutcome | Assessment Criteria | In this assessment you will have the opportunity to present evidence that shows you are able to: | Task no. | Evidence(page nos.) | LO1Understand the relationshipbetween organisationalstructure and culture | 1.1 | compare and contrast different organisational structures and culture | 1 | | | 1.2 | explain the relationship between an organisation’s structure and culture can impact on the performance of the business | 1 | | | 1.3 | discuss the factors that affect individual behaviour at work | 2 | | LO2 Understand differentapproaches to managementand leadership | 2.1 | compare the effectiveness of different leadership styles in different organisations | 3 | | | 2.2 | explain how organisational theory underpins the practice of management | 3 | | | 2.3 | evaluate the different approaches to management used by different organisations | 3 | | LO3 Understand ways of usingmotivational theories inorganisations | 3.1 | discuss the impact that different leadership styles may have on motivation in organisations in periods of change | 4 | | | 3.2 | compare the......

Words: 3403 - Pages: 14

Premium Essay

Business Decision Making

...Assignment front sheet Qualification Pearson BTEC Level 5 HND Diploma Business Student name Unit number and title Unit 6: Business Decision Making Assessor name James Kwok Date issued Completion date Submitted on 5th January 2015 16th February 2015 Assignment title BDM: To start-up a upstairs coffee cafe in the city(2 of 2) Learning Outcome Learning outcome Be able to produce information in appropriate formats for decision making in an organisational context Assessment Criteria 3.1 3.2 3.3 3.4 LO3 In this assessment you will have the opportunity to present evidence that shows you are able to: Produce graphs using spreadsheets and draw valid conclusions based on the information derived Create trend lines in spreadsheet graphs to assist in forecasting for specified business information Prepare a business presentation using suitable software and techniques to disseminate information effectively Produce a formal business report Use appropriate information processing tools Prepare a project plan for an activity and determine the critical path Use financial tools for decision making Task Evidence no. (Page no) 3 3 3 3 4 4 4 LO4 Be able to use softwaregenerated information to make decisions in an organisation 4.1 4.2 4.3 Learner declaration I certify that the work submitted for this assignment is my own and research sources are fully acknowledged. Student signature: Date: In addition to the above PASS criteria, this......

Words: 1570 - Pages: 7

Premium Essay


... | |Assessor’s Name: | | |Assessor’s Signature: | |Date: | | |Date Issued: |3rd February 2014 |Submission Date: |17th March 2014 | |Feedback Date: |In class 17th March 2014 | Final Submission date |12th May 2014 | List of criteria for this Assignment |Unit 9...

Words: 2493 - Pages: 10

Free Essay


............................................................................................................................................................................. 4 Getting Started You’re an entrepreneur and are setting up your company’s first manufacturing plant. First of all, you need to bid for land and machinery (“mandatory inputs”). Once you get the land and machinery you wanted (or got stuck with), you’ll need to buy trucks to transport your output to the market (revenue will be realized only if your output reaches the market). Additionally, you can go for technology upgrades, labor training sessions (“nonmandatory inputs”) with the remaining capital to reduce your marginal cost of production. Your initial capital is Rs. 5 crore. If you still want more, you can take a debt at any time @15% p.a. Price for your product is determined by a predetermined demand function. You’re a true capitalist and your only aim is to maximize...

Words: 1538 - Pages: 7

Premium Essay


...------------------------------------------------- Level 3 Sub Dip/Extended Diploma in Business - Academic Year 2013-14 Candidate | | | Unit No. | Unit 5 ; Unit 2 ; Unit 18 | | Unit Name | Business accounting, Business resources and managing a business event | * | Qualification | Btec Level 3 | | Start Date | September 2013 | | Deadline | November 2013 | | Assessor | Maria Pillay | | Unit 5 – Business accounting | | | Criteria | To achieve the criteria the evidence must show that the student is able to: | Page No. | Achieved? | P1 | Describe the purpose of accounting for an organisation | | | P2 | Explain the difference between capital and revenue items of expenditure and income | | | P3 | Prepare a 12 month cash flow forecast to enable an organisation to manage its cash | | | P4 | Prepare a profit and loss account and balance sheet for a given organisation | | | P5 | Perform ration analysis to measure the profitability and liquidity and efficacy of a given organisation | | | M1 | Analyse the cash flow problems a business might experience | | | M2 | Analyse the performance of a business using suitable ratios | | | D1 | Justify actions a business might take when experiencing cash flow problems | | | D2 | Evaluate the financial performance ad position of a business using ratio analysis | | | Unit 2 – Business resources | | | Criteria......

Words: 624 - Pages: 3

Free Essay


...36 | -15 | 225 | 1296 | 35 | -16 | 256 | 1225 | 18 | -33 | 1089 | 324 | 81 | 30 | 900 | 6561 | 82 | 31 | 961 | 6724 | 18 | -33 | 1089 | 324 | 45 | -6 | 36 | 2025 | 63 | 12 | 144 | 3969 | 27 | -24 | 576 | 729 | 765 | - | 8938 | 47953 | (column A 2 marks, m1, a1 ) OR (column B 2 marks, m1, a1) (iv) range = 90 – 18 = 72 (a1) (v) (m2, a1) QUESTION 2 (15 Marks) (a) Index (Feb) = (m1, a1) Index (March) = (a1) Index (April) = (a1) Index (May) = (a1) (b) (i) Size | 2011 | 2012 | | | | | | Price P | Quantity | Price pn | Quantity | | | | | Large | 0.60 | 500 | 0.75 | 600 | 300 | 360 | 375 | 450 | Medium | 0.55 | 700 | 0.60 | 1000 | 385 | 550 | 420 | 600 | Small | 0.40 | 300 | 0.45 | 500 | 120 | 200 | 135 | 225 | | | | Total | 805 | 1110 | 930 | 1275 | (last 4 columns, 1 mark each) (a1) (a1) (ii) Size | Weighting | Po | Pn | Index Relative | Large | 25 | 0.60 | 0.75 | 125 | Medium | 15 | 0.55 | 0.60 | 109.090909 | Small | 10 | 0.40 | 0.45 | 112.5 | Total | 50 | - | - | - | (last column, 2 marks) Weighted average of relative = = = 117.73 (m1, a1) QUESTION 3 (25 Marks) (a) FV = 1300(1+0.05x4) = 1560 (m2, a1) (b) FV = 2000(1+5.5%)8 = 2000(1.055)8 = 3069.37 (m4, a1) (c) FV = 5000 = 5000 (1.171659) (1.262477)...

Words: 523 - Pages: 3

Premium Essay

Unit 4 Btec Extended Certificate

...Btec National Extended Diploma Sport Unit 4 Fitness Training & Programming Unit 7 Fitness Testing for Sport & Exercise Science [pic] Student Name: Callum Mcvay |P1 | Scenario Fitness is vital to achieving success in sport, and testing plays a valuable role in the development of fitness. Individuals who are serious about their sports performance will have fitness testing carried out in order to assess their strengths and weaknesses, predict performance and provide feedback on the training programme. Fitness testing is also carried out in health clubs. Many clients use health clubs to exercise for health reasons. Fitness testing enables them to assess their baseline measures, strengths and weaknesses and assess the effectiveness of their training programme. You are a strength and conditioning coach working with sports performers from several different sports. It is important that the individuals you are working with develop and maintain high levels of fitness and take their fitness training very seriously. In your role you need to have a thorough understanding of the fitness requirements of the sports you are involved with. [pic] [pic] [pic] PART 1 Describe one test for each component of physical fitness and explain the advantages and disadvantages of each of the......

Words: 1628 - Pages: 7

Free Essay

The Mid Point Algorithm

...M1N pixel | M2NE pixel | | M | | | The equation for the line ax + by + c = 0 1 The equation for the M point: d – Equation for the first midpoint d = a(x+1/2) + b(y+1) + c d = ax + by + c + a/2 + b d = 0 + a/2 + b d = a/2+b ×2 d = a + 2b 2 By substituting the value fora and b we will able to find the value of d. If d > 0, then we will select the N (North) pixel If d < 0, then we will select NE (Northeast) pixel Then there are two possibilities to go the line through M1 or M2 Equation for the above two points; M1 and M2 M1: d1 – Equation for the M1 midpoint d1 = a(x+1/2) + b(y+2) + c d1 = ax + by + c + a/2 +2 b d1 = 0 + a/2 + 2b ×2; d1= a+4 b 3 3 – 2;d b = d1 – d d1 = b + d 4 The equation for the M1 is d1 = b+d M2 : d2 – Equation for the M2 midpoint d1 = a(x+3/2) + b(y+2) + c d1 = ax + by + c +3 a/2 +2 b d1 = 0+ 3a/2 + 2b ×2; d2 = 3a +4b 5 5 – 2; a + b = d2 – d d2 = a + b + d 6 The equation of the M2 midpoint is d1 = a + b + d As mentioned above the algorithm chooses between N and NE pixels on the sign of the decision variable calculated in previous method. * Algorithm for the ellipse The equation for the ellipse is : x2/a2 + y2/b2 = 1 x2/a2 + y2/b2 – 1 = 0 x2 b2 + y2 a2 - a2 b2 = 0 Center of the ellipse (x,y) = (0,0) a = rx , b = ry The first point is considered from the origin (x,y) = (0,b) The......

Words: 822 - Pages: 4