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Lulu the clown entertainment business Free essay! Download now

Home > A Level > Business studies > Lulu the clown entertainment business

Lulu the clown entertainment business

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Downloads to date: N/A | Words: 1433 | Submitted: 31-Mar-2011
Spelling accuracy: 97.1% | Number of pages: 12 | Filetype: Word .doc


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Description

Lulu the clown entertainment business

Preview


Lulu the clown entertainment business


Lulu the clown’s entertainment business

Contents
Executive summary
Question one
A: Lulus’ expenses week ending 7th may
B: Lulus’ fixed, assets, current assets, current liabilities
Question Two
A: Lulus’ cash account from 8th-14th may
B: Purpose of the cash account
Question Three
A: Lulus’ profit and loss account
B: purpose of profit and loss account
Question four
A: Lulus’ balance sheet as at 31st December 2008
B: purpose of a balance sheet
TMA part two
Good clear well done








Executive summary
A look at Lulu the clown finances from her income and expenses through to her balance sheet
This gives a clear understanding of how the business is performing in its first year of trading. This will enable her and her creditors make future decisions based on these financial outcomesüü Best practice here




















Income and Expenses for the week ending 7 May 2008








£
Income

0
Payment annual clown festival

650


0
Expenses


Travel expenses

15



Net Profit/(Loss)ü

635






Fixed Assets and Current Assets and Liabilities at 7 May 2008




£
£
Fixed assets


costume and equipment

1,500
puppet dolls

200
 

 



Total Fixed Assets

1,700



Current assets


 
 
650



Less Current Liabilities


puppet dolls
 
(200)


0
Working capital at 7 May:
 
450



Net Assets at 7 Mayü

2,150









cash account from the 8th - 14th may




£
£

Cash inflow



Jessica Williamsons party

200

Patrick greens party

150

Monica smiths party

300

refund for animal feed

50

Total

700
A




Cash outflows
0


train ticket
8


payment for puppet dolls
200


payment for ferrets
240


ferret food
100


travel expenses
15


costume cleaning
15
 

Total
 
578
B




Net flow of cash during the period

122
A-B
Opening balance in the bank

650

Closing balance in the bank

772


Ok yes good well done













Purpose of the cash flow statement

It is important for a business to produce a cash flow forecast, so that it can prepare for those months in which it is forecast to experience a cash flow crisis (i.e. the business needs to arrange extra credit or overdraft facilities to provide extra cash). Cash flow analysis involves examining the components of your business that affect cash flow, such as accounts receivable, inventory, accounts payable, and credit terms.Yes good this is correct By performing a cash flow analysis on these separate components, you'll be able to more easily identify cash flow problems and find ways to improve your cash flow. Alternatively, in the months where the business is forecast to be cash-rich; it can use this money profitably elsewhere within the business (e.g. new product development). Good Cash flow planning entails forecasting and tabulating all significant cash inflows relating to sales, new loans, interest received etc. and then analyzing in detail the timing of expected payments relating to suppliers, wages, other expenses, capital expenditure, loan repayments, dividends, tax, interest payments etc. The difference between the cash in- and out-flows within a given period indicates the net cash flow. üüWhen this net cash flow is added to or subtracted from opening bank balances, any likely short-term bank funding requirements can be ascertained.Yep good answer would have ...

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