In your own words explain what each of the following

1. In your own words, explain what each of the following financial records show:
 Invoices
 Labour/wage reports
2. Explain why having dedicated budgets for specific departments and projects can be useful (as
opposed to only relying on a budget for the whole organisation).
3. Why is it important to consider sales performance when monitoring budgets and preparing
financial reports?
4. What information is contained in the following document types:
 Budgets
Department budgets, event budgets, project budgets, purchasing budgets, labour and wages
budgets, sales budgets, whole of organisation budgets.

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