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Cash Budget for Stoddard Ltd
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Foundation Degree in Accounting & Finance Subject: Financial Planning Tutor: Linda Jordon Title of work: Cash Budget for Stoddard Ltd Name: Daisy So Cash Budget for Stoddard Ltd for six months to 1 November 2001 Jun Jul Aug Sep Oct Nov £ £ £ £ £ £ Cash inflows Credit Sales 7350 8750 10150 11550 Cash Sales 3150 3750 4350 4950 6000 6000 3150 3750 11700 13700 16150 17550 Cash Outflows Freehold Property 60000 Equipment 8000 20000 Vehicle 4000 Purchases 34375 10875 12375 13875 16500 Wages & Salaries 1000 1000 1000 1000 1000 1000 Overheads 400 400 400 400 800 800 Commission to salesmen 525 625 725 825 1000 73400 36300 12900 14500 16500 39300 Cash flow (70250) (32550) (1200) (800) (350) (21750) Opening Balance 80000 9750 (22800) (24000) (24800) (25150) Closing Balance 9750 (22800) (24000) (24800) (25150) (46900) Financial Position of Stoddard Ltd Based on the cash budget which I prepared on previous page, we can see Stoddard Ltd is having problem with their cash situation. It is mainly due to the long credit terms for their debtors, overstocking and the initial cash payment for the freehold property and equipment. The management should use the economic order quantity (EOQ) method to carry out their stock control. Other methods such as just-in-time and optimised production technology are also available but since Stoddard is worry about the interruption towards the end of the accounting year, just-in-time method is not the best solution to this...
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