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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