Budgeting

Budgets

  • Operating Budget.
  • Private Expenses.
  • Cash Flow budget.
  • Operating Budget.

Operating budget – Analysis of Over heads

  • Staff Costs.
  • Production Overheads.
  • Premises Costs.
  • Transport Costs.
  • Selling and Promotion Costs.
  • General expenses.
  • Finance Costs.
  • Depreciation.

 

Staff Costs

  • Gross staff salaries (employees PAYE \ PRSI).
  • Employers PRSI.
  • Bonuses.
  • Staff training costs.
  • Other staff costs.

Production Overheads

  • Use of auxiliary materials.
  • Maintenance.
  • Heat, light and power.
  • Rent \ lease of equipment.
  • Insurance of equipment.
  • Other production costs.

Premises Costs

  • Rent.
  • Insurance of premises.
  • Cleaning.
  • Maintenance.
  • Equipment rent \ lease.
  • Other costs (environment compliance).
  • Deduct rent received.

Transport costs

  • Maintenance and repairs.
  • Lease costs.
  • Fuel.
  • Motor Insurance.
  • Road Tax.
  • Public transport.
  • Air fares.
  • Deduct private use

Selling and promotion costs

  • Advertising.
  • Packaging.
  • Promotion.
  • Trade fairs.
  • Commissions.
  • Other promotion costs.

General Expenses

  • Telephone.
  • Postage.
  • Subscriptions.
  • Stationery.
  • Office expenses.
  • Accountancy fees
  • Legal & other fees
  • Other costs

Finance costs

  • Interest on loans\overdraft.
  • Mortgage interest.
  • charges \ fees.
  • Other finance costs.

Depreciation

  • Property.
  • Fixtures and fittings.
  • Motor vehicles.
  • Machines and equipment.
  • Other depreciation.

Estimate of Sales and Gross Profit

  • Total sales minus "Cost of sales" = Gross Profit
  • "Cost of Sales" = (opening stock + purchases) minus closing stock

 

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