Using the Balance Sheet and Profit and Loss reports you generated in Question 1, prepare a report to analyse the financial position, financial performance, and overall financial health of your company. You are also encouraged to draw upon your knowledge from ACC100 regarding financial statement analysis and financial statement ratios.
Your report must:
- be addressed to your subject coordinator/lecturer.
- explain the purpose of the Balance Sheet report and why it is useful.
- explain the purpose of the Profit and Loss report and why it is useful.
- provide an overview of the financial position, financial performance, and general financial health of your company.
- cite relevant sources and include a reference list, using APA referencing.
Your report must be no longer than 700 (+/- 10%) words. It must include an
(not included in the word limit). Please use appropriate referencing for your sources (APA style). You are encouraged to demonstrate good quality research beyond your textbook.
Report
Question 2 is required to be included in a report format and must include (in this order);
- a report cover page addressed to your desired audience. This is different to an assignment cover page which can be included before the
- report cover page;
- an executive summary (refer to the note below);
- table of contents (linked to the headings in your report);
- headings and subheadings, clearly identifying what is being discussed;
- a conclusion, including recommendations as required; and
- referencing (using APA Style).
Note: an Executive Summary is not an introduction. An Executive Summary is an overview of an entire report, including recommendations, and should be no longer than one (1) page in length. This may be the only page read by busy managers.
Word Count
Marks will be deducted where you have exceeded the word count for your assignment by more than 10%. The word count does not include your:
-
report cover page;
- table of contents;
- tables of figures;
- any financial statements attached to the report; and
- referencing (in text citations and reference list).
executive summary
Balance SheetBalance Sheet
J&J Manufacturing – 11701700
Level 1/30 Church Ln, Melbourne VIC 3000, Melbourne Victoria 3000, Australia
Accr u a l mo d eAccr u a l mo d e
3 0 Ju n 2 0 2 03 0 Ju n 2 0 2 0
Generated 10 May 2020
T o ta lT o ta l
Asset
Current Assets
1-1000 Cash at bank 228,880.50
1-1400 Supplies 54,472.73
1-1800 Accounts receivable 37,090.00
1-1805 Provision for doubtful debts -850.00
T o ta l Cu r r e n t Asse tsT o ta l Cu r r e n t Asse ts 3 1 9 ,5 9 3 .2 33 1 9 ,5 9 3 .2 3
Fixed Assets
1-2200 Motor vehicles 72,000.00
1-2205 Accumulated depreciation – motor vehicles -54,000.00
T o ta l F ixe d Asse tsT o ta l F ixe d Asse ts 1 8 ,0 0 0 .0 01 8 ,0 0 0 .0 0
T o ta l Asse tT o ta l Asse t 3 3 7 ,5 9 3 .2 33 3 7 ,5 9 3 .2 3
Liability
Current Liabilities
2-1200 Accounts payable 39,000.00
2-1300 Advance Received 4,000.00
2-2200 GST collected 17,790.41
2-2400 GST paid -18,374.91
T o ta l Cu r r e n t L ia b ilitie sT o ta l Cu r r e n t L ia b ilitie s 4 2 ,4 1 5 .5 04 2 ,4 1 5 .5 0
Long Term Liabilities
2-3400 Bank loan 35,000.00
T o ta l L o n g T e r m L ia b ilitie sT o ta l L o n g T e r m L ia b ilitie s 3 5 ,0 0 0 .0 03 5 ,0 0 0 .0 0
T o ta l L ia b ilityT o ta l L ia b ility 7 7 ,4 1 5 .5 07 7 ,4 1 5 .5 0
Ne t Asse tsNe t Asse ts 2 6 0 ,1 7 7 .7 32 6 0 ,1 7 7 .7 3
Equity
Current Earnings
3-1800 Current year earnings 10,310.73
T o ta l Cu r r e n t Ea r n in g sT o ta l Cu r r e n t Ea r n in g s 1 0 ,3 1 0 .7 31 0 ,3 1 0 .7 3
Retained Earnings
3-2000 Retained earnings 164,867.00
T o ta l Re ta in e d Ea r n in g sT o ta l Re ta in e d Ea r n in g s 1 6 4 ,8 6 7 .0 01 6 4 ,8 6 7 .0 0
3-1100 Share capital 85,000.00
T o ta l Eq u ityT o ta l Eq u ity 2 6 0 ,1 7 7 .7 32 6 0 ,1 7 7 .7 3
J&J Manufacturing – 11701700 | Generated 10 May 2020 Page 1 of 1
Profit and lossProfit and loss
J&J Manufacturing – 11701700
Level 1/30 Church Ln, Melbourne VIC 3000, Melbourne Victoria 3000, Australia
Accr u a l mo d eAccr u a l mo d e
0 1 Ju l 2 0 1 9 – 3 0 Ju n 2 0 2 00 1 Ju l 2 0 1 9 – 3 0 Ju n 2 0 2 0
Generated 10 May 2020
T o ta lT o ta l
Income
4-1100 Service revenue 195,835.45
T o ta l In co meT o ta l In co me 1 9 5 ,8 3 5 .4 51 9 5 ,8 3 5 .4 5
Less Cost of Sales
T o ta l Co st o f Sa le sT o ta l Co st o f Sa le s 0 .0 00 .0 0
G r o ss Pr o fitG r o ss Pr o fit 1 9 5 ,8 3 5 .4 51 9 5 ,8 3 5 .4 5
Less Expense
6-1800 Discount allowed 9,476.36
6-2800 Interest paid 5,100.00
6-3500 Operating expenses 126,361.55
6-5100 Selling expenses 51,545.45
T o ta l Exp e n seT o ta l Exp e n se 1 9 2 ,4 8 3 .3 61 9 2 ,4 8 3 .3 6
O p e r a tin g Pr o fitO p e r a tin g Pr o fit 3 ,3 5 2 .0 93 ,3 5 2 .0 9
Plus Other Income
8-1000 Discount received 6,958.64
T o ta l O th e r In co meT o ta l O th e r In co me 6 ,9 5 8 .6 46 ,9 5 8 .6 4
Less Other Expense
T o ta l O th e r Exp e n seT o ta l O th e r Exp e n se 0 .0 00 .0 0
Ne t Pr o fitNe t Pr o fit 1 0 ,3 1 0 .7 31 0 ,3 1 0 .7 3
J&J Manufacturing – 11701700 | Generated 10 May 2020 Page 1 of 1
Using the Balance Sheet and Profit and Loss reports you generated in Question 1, prepare a report to analyse the financial position, financial performance, and overall financial health of your company. You are also encouraged to draw upon your knowledge from ACC100 regarding financial statement analysis and financial statement ratios.
Your report must:
· be addressed to your subject coordinator/lecturer.
· explain the purpose of the Balance Sheet report and why it is useful.
· explain the purpose of the Profit and Loss report and why it is useful.
· provide an overview of the financial position, financial performance, and general financial health of your company.
· cite relevant sources and include a reference list, using APA referencing.
Your report must be no longer than 700 (+/- 10%) words. It must include an executive summary (not included in the word limit). Please use appropriate referencing for your sources (APA style). You are encouraged to demonstrate good quality research beyond your textbook.
Report
Question 2 is required to be included in a report format and must include (in this order);
· a report cover page addressed to your desired audience. This is different to an assignment cover page which can be included before the report cover page;
· an executive summary (refer to the note below);
· table of contents (linked to the headings in your report);
· headings and subheadings, clearly identifying what is being discussed;
· a conclusion, including recommendations as required; and
· referencing (using APA Style).
Note: an Executive Summary is not an introduction. An Executive Summary is an overview of an entire report, including recommendations, and should be no longer than one (1) page in length. This may be the only page read by busy managers.
Word Count
Marks will be deducted where you have exceeded the word count for your assignment by more than 10%. The word count does not include your:
· report cover page;
· executive summary
· table of contents;
· tables of figures;
· any financial statements attached to the report; and
· referencing (in text citations and reference list).