You are planning to set up your own small business but you only have £50,000 in cash to use as start-up capital. You will need to prepare a business plan in order to raise the additional finance that will be required to meet your budgeted operations. You may assume that you can borrow what you need from your bank at a given rate of interest.
Part of your business plan involves drawing up the following 12-monthly budgets to underpin your proposed business activity & to persuade your bank manager to lend you the required funds.
Required:
Table of Assumptions made, basis: Management Accounting principles
Capital Expenditure (Fixed Assets) Budget
Sales Budget
Production Budget
Labour Budget
Purchases Budget
