BSBFIM601 Manage

finances

Ahmer Tahir
STUDENT NAME  Student ID
Contents
Assessment 1...............................................................................................................................................1
A. profit and loss:.....................................................................................................................................1
Profit and loss contribution:....................................................................................................................1
B. Profit and loss reasons:.......................................................................................................................1
c. critical dates and initiative...................................................................................................................2
d. cashflow trend analysis:......................................................................................................................3
E. Legal requirements for tax liability:.....................................................................................................3
F. Current financial software:..................................................................................................................4
G. Risks associated with money laundering:............................................................................................5
Cashflow Budget:.........................................................................................................................................6
Sales budget and Profit and loss budget:....................................................................................................6
Debtors aging summary:.............................................................................................................................7
3. Meeting with assessor:............................................................................................................................9
3. Revised budget:.....................................................................................................................................11
5. Effectiveness of existing financial management:...................................................................................12
6. Ratio analysis:........................................................................................................................................12
A. variance report:.................................................................................................................................12
B. Ratios:................................................................................................................................................14
C. financial performance........................................................................................................................15
References.................................................................................................................................................16
Assessment 1.
A. profit and loss:
Houzit is a shopping mall in Brisbane that specializes in bathrooms, bedding, mirrors and
decorative items. There are currently 15 stores in major Brisbane locations, all controlled and
controlled by Milton headquarters.
The company prides itself on the quality behind its sales service, which is a major factor in
sustained sales growth and other profit growth, which is also the end of the company over other
domestic retail stores. Currently, Houzit has 100 full-time and 50 part-time employees, and as
the program market expands, we expect 100 to grow within five years.

Profit and loss contribution:

number of production units
Each unit is produced.
Direct cost
All numbers
Mix enterprise mix
overhead

B. Profit and loss reasons:

It is clear that the company's total profit in 2019-2020 will be 0,019,499.

This can be due to pricing, delivery, purchasing process, product quality and product availability.

price:
Price is one of the important factors influencing a customer's decision to purchase an item. Store
managers need to determine the price of each product that is more than they can afford, but
pushes potential buyers. Together with Brisbane's other home-based retailers, Houzit started
measuring their competitors' prices through online advertising.

Performance:
Houzit PT Ltd is well known for its launch and especially after-sales service. It's a strong
foundation to make honest sales and attract more customers to your company.

Purchase process:
As one of the leading suppliers of consumer electronics, Houzit has a delicate and reliable
collection process that can be accessed by authorized parties while keeping customer information
secure.

Product quality:
To stay in the industry and grow in 15 stores across Brisbane to meet the growing need to
accommodate new and remodeled accommodation, Houzit has to offer one-off products for
years.

Product availability:
Houzit attracts a diverse customer base by offering unique products while using a variety of
product blends that protect from top to bottom while completing specific products. Houzit has 15
stores of toilets, bedding, mirrors and decorative items. They also added lighting fixtures to the
rankings, making them a leader in Australian consumer electronics retailers [ CITATION Und201 \l
1033 ].
c. critical dates and initiative
When reviewing your business plan, you need to take into account the critical dates and plans for
which resource creation is required.

Important days include not only busy times, but also slow-moving times. By identifying these
times, it helps the company manage its financial situation properly. After confirming this date,
the company must install the appropriate program.

Busy time:

01/07-Fiscal Year Sales Start

29/09-AFL Big Day Sale
01/10-Queen's Birthday
October 31-Halloween discount
November-December-Christmas Sale
25/12-Christmas Sale
26/12-Boxing Day Sale
31/12-New Year Sale
01/01-New Year Sale
26/01-Australia Day Sale
April-Easter Sale
30/06-fiscal year sales end

The view of the high season these days. High performance is important to do most of these high
times.

Temporary employee recruitment:

Hiring temporary workers during peak hours is a common practice, but training is required.
Some steps are the same. Introduce and access the necessary systems and tools, review security
policies and regulations, and provide rapid transition opportunities through rapid internal training
programs.

Get online performance:

Focus on top-level planning and place workloads to deliver efficient delivery and expedite
inventory from warehouses. Changing your on-sale operating strategy for large-scale growth has
all the benefits. If the warehouse is unable to handle the growing demand, major issues such as
non-delivery dates and consequent customer relationships can be compromised.

Inventory level rise:

Selling means customers are willing to pay the price and benefit from the product from the start.
So, retailers need to order enough extra stock and make sure they're ready to ship. Or, if storage
space is limited, it is appropriate if the supplier is successful enough to ship bulk items in a short
period of time.

Extended business hours:

Due to seasonal holidays, customers often put their shopping habits first. So, to meet these needs,
Houzit stores can use resources to open stores earlier and increase trading hours. It will be more
attractive to consumers.

In most cases a lot of problems arise, but with proper preparation and regular testing, traders can
be successful in busy times. Proper planning, ordering, and appropriate action can help improve
service, increase customer loyalty, and improve sales.

Alternatively, it is important to measure the number of resources used during non-quality sales.
This can be achieved.

 Fewer employees
 Reduced working hours
 Stock storage in a small warehouse[ CITATION Rev20 \l 1033 ].

d. cashflow trend analysis:

Howitzer Cash Flow Statement shows how a company spends money (cash) and where it comes
from (cash flow). This includes all income the company receives from its ongoing operations and
foreign investments, as well as all cash flows including business activities and investments over
a period of time.

Cash flow from operations:

Reports the amount in the income statement previously reported in daily activities. Items
included;
 Provision of payments to suppliers and owners
 Interest earned

Cash flow from investment:

Reports all cash flows from sales and purchases of long-term investments.
 Commodity merchandise, commodity collection
 Revenue from sales of machinery and goods

Financial Cash Flow:

This report includes credit transactions and stocks.
 Benefits credit benefits
 Loans large loan repayment[ CITATION Ana18 \l 1033 ].

E. Legal requirements for tax liability:

When running and running a business, you must follow a number of rules when paying taxes.
Some of them are: Capital gains tax CGT, benefits tax FBT, payroll tax, pay as you go, goods
and services tax GST.
It is clear that Howitzer maintains a BAS business statement that reports all GST, Pages, Page
Tax-Free Instalments and other tax liabilities.
to ensure effective tax management in business, Howitzer can apply the following steps and
policies as follows:

 Understanding responsibility

 Tax Sound Tax Decision Making Process

 Integrity maintenance system and control

 Recording and recording

 Collection time

 Tax and cash flow

Houzit trades only in Brisbane and therefore does not comply with bilateral trade agreements or
international trade principles. Australian consumer law under competition and consumer law is a
concern. include;

 General consumer form and national contract law with small business transactions are not
enough.

 Domestic laws that guarantee the rights of consumers when purchasing goods and
services.

 Product national product safety law and enforcement system.

 National law on unwanted consumer contracts, including real estate sales and phone
sales.

 General country rules for contracts established by Cred

 Punishment, enforcement and corrective action.

F. Current financial software:

Once the new software is installed and matches your financial management compatibility, you
can test both methods.

1. Use of software

2. Communication with software users.

However, every business has different needs when starting a new business. Hauzit PT Ltd may
have unexpected plans.

 Employees Calculate the requirements of all employees (PAYE, annual leave, long leave,
etc.).

 Inventory Track inventory, jobs, orders, jobs and other work management needs.

 Due to the large store, you can manage multiple accounts.

 Business Track various records of each business or division of business.

 Allow interaction with other computer programs (online payment)

 Keep detailed customer records, including products purchased, frequency and timing of
purchases.

Choosing and implementing an appropriate software system will allow you to carry out hauzit-
like financial activities.

 Account eliminates accounting errors

 Guaranteed compliance with tax and accounting laws.

 Income divides income and expenses

 Improve short-term and long-term business operations by reducing Inv invoice billing
and revenue collection.

 Change gives you the flexibility and flexibility to adapt to change and growth.

 Value calculates business value.

 Rec reduces record keeping.

G. Risks associated with money laundering:

Lack of good governance.

Inadequate screening procedure for job seekers in relation to employees who can obtain goods at
risk of application misuse
 Maintain appropriate records of assets that are useful for assets
 Lack of adequate division of work or independent inspection
 Lack of adequate systems for approving and approving transactions
  Money, along with money, investments, inventory or fixed assets, does not have enough
physical protection.
 Lack of timely and adequate documentation
 Lack of compulsory leave for employees performing administrative tasks required by the
administration
[ CITATION Ris201 \l 1033 \m ACL18]

2.

Cashflow Budget:
CASH FLOW ANALYSIS - 2019-2020 QTR 1 QTR 2 QTR 3 QTR 4
GST
GST Collected 1,679,123.70 335,824.74 402,989.69 436,572.16 503,737.11

(GST Paid)
313,982.90 78,197.43 78,434.07 78,557.38 78,804.02
GST Payable
1,365,140.80 257,627.31 324,555.62 358,014.78 424,933.09

Sales budget and Profit and loss budget:

2020-2021
PROFIT BUDGET 2020-2021 QTR 1 QTR 2 QTR 3 QTR 4
Revenue
Sales 16,971,237 3,394,247 4,073,097 4,412,522 5,091,371
(COGS) 9,503,893 1,900,779 2,290,934 2,471,012 2,851,168
Gross Profit 7,467,344 1,493,469 1,792,163 1,941,510 2,240,203

Gross Profit % 44% 44% 44% 44% 44%

EXPENSES
(Accounting fees) 10,000 2,500 2,500 2,500 2,500
(Interest Expenses) 84,508 21,127 21,127 21,127 21,127
(Bank Charges) 1,600 400 400 400 400
(Depreciation) 170,000 42,500 42,500 42,500 42,500
(Insurance) 13,390 3,347.50 3,347.50 3,347.50 3,347.50
(Store supplies) 3,749 750 900 975 1,125
(Advertising) 350,000 87,500 87,500 87,500 87,500
 (Cleaning) 16,133 3,227 3,872 4,195 4,840
(Repairs & Maintenance) 64,272 16,068 16,068 16,068 16,068
(Rent) 2,640,508 660,127 660,127 660,127 660,127
(Telephone) 14,997 2,999 3,599 3,899 4,499
(Electricity expenses) 26,780 5,356 6,427 6,963 8,034
(Luxury car tax) 6,582 1,645.50 1,645.50 1,645.50 1,645.50
(Fringe benefit tax) 28,000 7000 7000 7000 7000
(Superannuation) 171,495 34,299 41,159 44,589 51,449
(Wages & salaries) 1,905,500 381,100 457,320 495,430 571,650
(Payroll tax) 90,511 18,102 21,723 23,533 27,153
(Workers’ compensation) 38,110 7,622 9,146 9,909 11,433
Total Expenses 5,636,135 1,295,670 1,386,361 1,431,708 1,522,398

Net Profit (before tax)

1,831,209 197,799 405,802 509,802 717,805
Income tax 5 1 1 215,341.
549,362.70 9,339.70 21,740.60 52,940.60 50
Net profit 13 2 3 502,463.
1,281,846.30 8,459.30 84,061.40 56,861.40 50

During the 2019-2020 financial cycle, Houzit total revenue was $1,019,499. So it's up to the
business to decide which area to use for profit. You can allocate more resources to grow and
develop, or you can allocate fewer resources (e.g. efficiency, sustainability and cost savings).

By hiring more trained staff and providing appropriate sales training, Houzit’s well-known
customer service will grow by 12% next year as a result.

The budget increase is a new addition to the 2020-2021 budget. This growth informs consumers
that the business is making a strong effort to remain relevant in the marketplace.

New advertising campaigns offer good value. Thanks to many competitors in the market, Houzit
found a way to increase the number of customers and additional sales by bundling their products
to high-value customers and offering exclusive offers. However, Houzit says that most
advertisements are oral, and oral conversations begin with acknowledging that customers have
benefited from advertisements and promotions [ CITATION bud20 \l 1033 ].

Debtors aging summary:

AGED DEBTORS TOTAL QTR 1 QTR 2 QTR 3 QTR 4
BUDGET
Sales 16,971,237 3,394,247 4,073,097 4,412,522 5,091,371

% Debtors sales 20% 20% 20% 20% 20%

Total debtors 3,394,247 67,885 81,462 88,250 101,827

Current 2,851, 68 85,534.

167.48 57,023.40 ,428.08 74,130 68
30 Days – 10% 339, 8 10,182.
424.70 6,788.50 ,146.20 8,825 70
60 Days – 5% 169, 4 4,412 5,091.
712.35 3,394.25 ,073.10 .50 35
90 Days – 1% 33, 882 1,018.
942.47 678.85 814.62 .50 27

a. Issues:
i. Identify, describe, and prioritize critical issues that have been demonstrated in
the case information provided, and explain the cause or reason for these issues.
When viewing these investments, include the financial opportunities you have
seen or considered.
b. Variances:
i. Create an actual budget report using the template provided in the case study.
ii. Compare the actual results to the established budget to identify the differences
and give reasons for these fluctuations.
c. Performance:
i. Compare the company's financial performance (according to the financial data
provided) to sectoral expectations related to the commercial sector.
ii. Answering the performance questions provided by the CEO provided by the
housing committee,
iii. Practice regular credit dates and learn about their impact on home cash flow.
d. Recommendations:
i. I. Describes recommendations for organizational financial issues, assesses the
issues, reasons for diversification and observed organizational performance
(steps 1-3).
ii. ii. This section includes issues identified in revised budget planning, effective
management of potential situations, budget response and monitoring.
 e. Evaluation:
It provides a brief overview of the financial management practices developed for an organization
based on issue assessment, reasons for diversification, and observed organizational performance.
If you have any suggestions for changing management practices, include them in this
section[ CITATION Wha201 \l 1033 ].

3. Meeting with assessor:

I meet with my assessor and present my budgeted report.

PROFIT BUDGET 2020-2021 QTR 1 QTR 2 QTR 3 QTR 4
Revenue
Sales 16,971,237 3,394,247 4,073,097 4,412,522 5,091,371
(COGS) 9,503,893 1,900,779 2,290,934 2,471,012 2,851,168
Gross Profit 7,467,344 1,493,469 1,792,163 1,941,510 2,240,203

Gross Profit % 44% 44% 44% 44% 44%

EXPENSES
(Accounting fees) 10,000 2,500 2,500 2,500 2,500
(Interest Expenses) 84,508 21,127 21,127 21,127 21,127
(Bank Charges) 1,600 400 400 400 400
(Depreciation) 170,000 42,500 42,500 42,500 42,500
(Insurance) 13,390 3,347.50 3,347.50 3,347.50 3,347.50
(Store supplies) 3,749 750 900 975 1,125
(Advertising) 350,000 87,500 87,500 87,500 87,500
(Cleaning) 16,133 3,227 3,872 4,195 4,840
(Repairs & Maintenance) 64,272 16,068 16,068 16,068 16,068
(Rent) 2,640,508 660,127 660,127 660,127 660,127
(Telephone) 14,997 2,999 3,599 3,899 4,499
(Electricity expenses) 26,780 5,356 6,427 6,963 8,034
(Luxury car tax) 6,582 1,645.50 1,645.50 1,645.50 1,645.50
(Fringe benefit tax) 28,000 7000 7000 7000 7000
(Superannuation) 171,495 34,299 41,159 44,589 51,449
(Wages & salaries) 1,905,500 381,100 457,320 495,430 571,650
(Payroll tax) 90,511 18,102 21,723 23,533 27,153
(Workers’ compensation) 38,110 7,622 9,146 9,909 11,433
Total Expenses 5,636,135 1,295,670 1,386,361 1,431,708 1,522,398

Net Profit (before tax)

1,831,209 197,799 405,802 509,802 717,805
Income tax 5 1 1 215,341.
549,362.70 9,339.70 21,740.60 52,940.60 50
Net profit 13 2 3 502,463.
1,281,846.30 8,459.30 84,061.40 56,861.40 50

Contingencies:
Despite the current economic situation, the housing market is fiercely competitive. This is a very
difficult quarter as the economy continues to decline and has a serious impact on retail. With
solid debt rather than floating rates that change directly with market conditions, homeowners
face significant challenges with rising interest rates.
Sales are going smoothly, and potential customers may have different plans for their budget due
to holidays and vacations. However, you will be worried about the discounts your company
offers to generate after-sales sales. As revenue is at risk, companies can develop a strategy to
offer discounts to customers using their second quarter advertising spending budget.
Salary and wage costs are slightly higher than the wage bank benchmark and account for 11% of
sales. Assuming your turnover is about 3.4 million AUD, your wages and income should be just
370,000 AUD. 31,000 AUD less than budget. As the economy declines, companies can access
their budgets when it comes to sales. It can be adjusted at the end of the quarter, and all
necessary recommendations are used. The budget is reviewed monthly through a comprehensive
report submitted to management on a quarterly basis. Help Houzit compete with market trends
and financial conditions with the help of next quarter's advertising revenue.
As interest rates steadily rise due to the economic downturn, companies must use profits for
long-term debt repayment to reduce their debt recovery rates. This allows companies to reduce
their interest burden even if they don't remove interest.
The statistics are amazing as most of our spending right now doesn't match our budget due to the
recession. With proper monitoring and adjustment of the current situation, the company can
generate potential revenue as analysts expect.
Issues:
The main issues that need to be demonstrated in the case study provided are:
depression:
  Budget Sales Figures-QI sales are good, but they work in the other three areas.
 Interest Rate If the interest rate rises due to the difference in the interest rate on a home
loan, the cost increases.
Advertising budget:
 Budget spending on unused advertising can generate revenue and benefit from other costs
that affect small revenues.
Recommendation:
 Loan reduction to lower interest high interest rates
 Review salary and wages to reduce costs and improve efficiency
 Policy discount policy to protect total interest rates, loans, monitoring and reporting
frequency.
 You spend the remaining $50,000 on your advertising budget, which will be added next
quarter.[ CITATION Wha191 \l 1033 ].

3. Revised budget:
PROFIT BUDGET 2020-2021 QTR 1 QTR 2 QTR 3 QTR 4
Revenue
Sales 16,971,237 3,394,247 4,073,097 4,412,522 5,091,371
(COGS) 9,503,893 1,900,779 2,290,934 2,471,012 2,851,168
Gross Profit 7,467,344 1,493,469 1,792,163 1,941,510 2,240,203

Gross Profit % 44% 44% 44% 44% 44%

EXPENSES
(Accounting fees) 10,000 2,500 2,500 2,500 2,500
(Bank Charges) 1,600 400 400 400 400
(Depreciation) 170,000 42,500 42,500 42,500 42,500
(Insurance) 13,390 3,347.50 3,347.50 3,347.50 3,347.50
(Store supplies) 3,749 750 900 975 1,125
(Discount allowed) 350,000 87,500 87,500 87,500 87,500
(Cleaning) 16,133 3,227 3,872 4,195 4,840
(Repairs & Maintenance) 64,272 16,068 16,068 16,068 16,068
(Rent) 2,640,508 660,127 660,127 660,127 660,127
(Telephone) 14,997 2,999 3,599 3,899 4,499
(Electricity expenses) 26,780 5,356 6,427 6,963 8,034
(Luxury car tax) 6,582 1,645.50 1,645.50 1,645.50 1,645.50
(Fringe benefit tax) 28,000 7000 7000 7000 7000
(Superannuation) 171,495 34,299 41,159 44,589 51,449
(Wages & salaries) 1,868,500 373,700 448,440 485,810 560,550
(Payroll tax) 90,511 18,102 21,723 23,533 27,153
(Workers’ compensation) 38,110 7,622 9,146 9,909 11,433
Total Expenses 5,514,629 1,267,143 1,356,354 1,400,961 1,490,171

Net Profit (before tax)

1,952,716 226,326 435,809 540,5492 750,032
Income tax 7 1 1 222,609.
585,815.80 0,2917.78 28,879.25 64,028.14 62
Net profit 15 3 3 527,422.
1,366,901.21 6,028.22 06,929.75 76,520.86 38

5. Effectiveness of existing financial management:

Home audit lines must be used and maintained to ensure correct compliance and to distinguish
between agreed and actual work. There are several advantages.
 encourages good user behaviour, which can prevent virus transmission, misuse of
information and unauthorized use or modification.
 Detect suspicious behaviour[ CITATION 4Ke17 \l 1033 ].

6. Ratio analysis:
A. variance report:
Houzit Pty Ltd

Variance to Budget

Actual Results Budget Q1 Actual Q1 $ Variance % Variance F or

U

Sales 3,394,247 3,371,200 (23,047) 0.00% U

Cost of Goods Sold 1,934,721 1,955,296 20,575 1.00% U

Gross Profit 1,459,256 1,415,904 (43,622) -3.00% U

Gross Profit % 43% 42% 0 -2.00% U

Expenses

Accounting Fees 2,500 2,500 0 0.00% F

Interest Expense 21,127 28,150 7023 33% U

Bank Charges 400 380 (20) -5.00% F

Depreciation 42,500 42,500 0 0.00% F

Insurance 3,348 3,348 0 0.00% F

Store supplies 750 790 40 5.00% U

Advertising 200,000 150,000 (50,000) -25% F

Cleaning 3,256 3,325 69 2% U

Repairs & Maintenance 16,068 16,150 82 1.00% U

Rent 660,127 660,127 0 0.00% F

Telephone 2,999 3,100 101 3.00% U

Electricity Expense 5,356 5,245 (111) -2% F

Luxury Car tax 12,000 12,000 0 F

Fringe Benefits Tax 7,000 7,000 0 F

Superannuation 37,404 37,404 0 F

Wages & Salaries 415,600 410,500 (5100) -1.00% F

Payroll tax 19,741 19,741 0 F

Workers' Compensation 8,312 8,312 0 F

Total expenses 1,458,488 1,410,572 (47917) -3.00% F

Net Profit (before tax) 1,038 5,333 4294 414% F

Income Tax 311 1,600 1289 414% U

Net Profit 727 3,733 3006 414% F

B. Ratios:
a. Gross profit margin:
2019-2020 2020-2021
Sales $14,550,100 $15,714,108
Cost of goods ($8,002,555) ($8,799,900)
Contribution margin ratio 0.45% 0.44%

b. working capital:
2019-2020 2020-2021
Current assets $3,524,842 $3,570,314
Current liabilities ($1,860,400) ($1,879,445)
Current ratio $1,664,442 $1,690,869

c. current ratio:
2019-2020 2020-2021
Current assets $3,524,842 $3,570,314
Current liabilities $1,860,400 $1,879,445
Current ratio 1.89 1.90

d. Quick ratio:
2019-2020 2020-2021
Current asset $3,524,842 $3,570,314
inventory ($1,530,000) ($1,430,000)
Current liabilities $1,860,400 $1,879,445
Quick ratio 1.07 1.14

e. leverage
2019-2020 2020-2021
Total assets $5,534,842 $1,019,499
Total equity $2,065,982 $2,322,410
leverage 2.68 0.44

C. financial performance
Financial statements are audited to determine the financial position of the company. This
can be viewed in the gap between the mid-sized and mid-sized accounts in the financial
statements to verify the company's performance. When looking at the financial statements
of Hauzit Pt Ltd, we look at the income statement and cash flow.
 Profit and Loss Report:
According to the income statement, Houzit sales in 2020-2021 increased from 14,550,100
units in 2017 to 2020 to 15,714,108 units at 7 units, which is an increase over the years.
However, a more accurate statistical estimate can be obtained by calculating the average
of the donation limit only for direct goods (the price of goods sold).
Hozit has a total cost of $5,331,563 for 2019-2020 and 5,457,780 for 2019-2020.

You can use the percentage of total profit based on your performance over time. It
reflects the revenue remaining after all production costs, maintenance and economy are
deducted from sales.
Using the cash flow statement provided by Hozit Pt Ltd, you can estimate the current
interest rate, which represents Hozit's ability to repay its debts in the near future. The best
indicators mentioned above are fast or acidity rates, since they are not included in the
official list and determine their ability to quickly fulfill their obligations. Because it is
difficult to sell in the short term and there is a loss. You can use a fixed rate of return to
compare your company's performance against total sales and fixed assets.
As you can see, 2015/16 was very good when I analyzed last year in relation to the
current year[ CITATION Und20 \l 1033 ].

References
4 Keys To Effective Financial Performance Management. (2017). Retrieved from inside info:
https://www.insideinfo.com.au/bi-and-cpm-news/corporate-performance-management/4-keys-
effective-financial-performance-management

ACL. (2018). Retrieved 10 02, 2018, from http://consumerlaw.gov.au/the-australian-consumer-law/

Analyze Cash Flow the Easy Way. (2018). Retrieved from investopedia:
https://www.investopedia.com/articles/stocks/07/easycashflow.asp

ATO . (31/05/2016). Retrieved 10 02, 2018, from https://www.ato.gov.au/Business/Privately-owned-

and-wealthy-groups/Tax-governance/Corporate-governance-and-tax-governance/Key-
governance-steps-and-processes/

budget. (2020). Retrieved from wikipedia: https://en.wikipedia.org/wiki/Budget

Review your business performance. (2020). Retrieved from info enterpreneurs:

https://www.infoentrepreneurs.org/en/guides/review-your-business-performance/
Risk Factors Relating to Misstatements Arising From Misappropriation of Assets. (2020). Retrieved from
John T. cheek,CPA: http://www.cpaspan.com/index.php/business/145-sas82

Understanding profit and loss reports. (2020). Retrieved from business queensland:
https://www.business.qld.gov.au/running-business/finances-cash-flow/managing-
money/financial-statements-forecasts/profit-loss-reports

Understanding the Auditor's Report. (2020). Retrieved from crf online:

https://www.crfonline.org/orc/cro/cro-11.html

What is an Accounts Receivable Aging Report. (2020). Retrieved from CFI:

https://corporatefinanceinstitute.com/resources/knowledge/accounting/accounts-receivable-
aging-report/

What should we know about the next recession. (2019). Retrieved from economic policy institute:
https://www.epi.org/publication/next-recession-bivens/