Critically evaluates the use of budgets in the modern business world

You are required to produce the following:

1.Based on the information provided, prepare the following budgets on a monthly basis for the 12 months ended 31 December 2016 in as much detail as the information was given allows (you should also include a total column for the year ended 31 December 2016):

a) Production Budgets

b) Sales Budgets

c) Materials Purchases Budgets

d) Direct Labor Budgets

e) Overheads Budgets (10 marks)

2. Based on the information provided, prepare a Cash Budget for the company on a monthly basis for the 12 months ended 31 December 2016 in as much detail as the information given allows (you should also include a total column for the year ended 31 December 2016). (10 marks)

3. Based on the information provided, prepare one budgeted Income Statement and one budgeted Balance Sheet for the whole of the year (12 months) ended 31 December 2016. (10 marks)

4. Write a memorandum (maximum 586001 m 1,500 words) to the shareholders to accompany the budgets that:

a) Critically evaluates the use of budgets in the modern business world. (30 marks)

b) Critically analyses the figures shown in the cash budget. (15 marks)

c) Suggests ways in which the cash budget could be improved. (10 marks) Presentation/layout of budgets (5 marks) Presentation/layout of memo, referencing, bibliography (10 marks) Total marks for assignment: 100 Please follow assignment guide and instructions Avoid any issues with plagiarism work Must be of a high standard