Task 16 risk management 1 mark can risks be avoided

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Task 16: Risk Management (1 Mark) Can risks be avoided in an organisation? Explain your answer.
Task 17: Succession planning: (1 Mark) Describe the steps involved in ‘Succession Planning’.
Commit to developing internal talent and monitoring their progress. Week 5 Task 18: GST Calculations (3 Mark) John is the owner of a fish and chips shop in Parramatta. His total sale for the month of February was $24,000 including GST. His purchase was $18,000 for the same month. Calculate the following. (i) GST received (ii) GST paid (iii) Net GST payable
Task 19: GST and Cash Flow Statement (2 Mark) A company forecasts the following transactions during the next financial year which will affect its cash flow. (All ATO dues and ATO credits are expected to be settled during the year.) $ Cash sales, 10% GST not included Credit sales for year, including 10% GST Cash receipts in respect of credit sales — budget year Cash receipts in respect of credit sales — previous year Cash purchases, 10% GST not included GST payable to ATO GST input credit from ATO Other payments, including 10% GST 80 000 176 000 140 800 11 000 90 000 12 000 24 000 120 000 33 000 Prepare a budgeted cash flow statement assuming that the opening bank balance was $30,200.
Purchases 90 000 GST payments on cash purchases 9.000 Wages 120 000 Net GST payable to ATO 16.600 Other payments 33 000 Total Cash Payments: Cash surplus/(deficit) -$11.200 Opening bank balance $30,200 Closing bank balance $19.000 Task 20: Preparing Sales Budget (3 Mark) Gardening tools Pty Ltd manufacture and sell lawn mower and water pump. The production cost is as follows: Lawn mower: $278 Water pump: $190 The company sells the products by adding a mark-up of 120% on lawn mower and 150% on water pump. Due to increased competition, the company has decided not to increase the unit sales price in next year’s budget. The products are sold in Bunning warehouse and Yourlocal Hardware Store. Actual sale (in no. of units) for both the products in those outlets from January to March 2013 is as follows: January February March Total Bunning Warehouse Lawn mower 120 134 159 413 Water pump 70 81 78 229 Your local Hardware Store Lawn mower 105 123 111 339 Water pump 51 67 68 186 For January to March 2014, Gardening tools Pty Ltd is estimating that the overall sales for their products will increase in Bunning warehouse but may decrease in Yourlocal Hardware Store. The

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