This document is Profit and Loss Account.

It is part of the supporting assessment resources for Assessment Task 2 of BSBFIM501.

King Edward VII College

Profit and Loss

Six months to December 16

Melbourne
Budget Actual Variance (+/-)
Income:
Sales $450,000 $475,000 -5.55%
Expenses:
Electricity and gas $1,500 $3,000 -100%
Internet $1,000 $1,100 -10%
Office supplies $700 $1,200 -71.42%
Rent $225,000 $220,000 2.22%
Stationary $800 $1,300 -62.5%
Wages and salaries $115,000 $117,000 -1.739%
Superannuation $15,000 $16,000 -6.66%
Travel and accommodation $2,500 $2,700 -8%
Water $2,000 $2,600 -30%
Work cover insurance $900 $900 0%
Total expense $364,400 $365,800
Net Profit $85,600 $109,200

Sydney
Budget Actual Variance (+/-)
Income:
Sales $350,000 $410,000 -17.14%
Expenses:
Electricity and gas $1,200 $2,800 -133.33%
Internet $1,100 $1,100 0%
Office supplies $650 $1,300 -100%
Rent $185,000 $190,000 -2.70%
Stationary $700 $1,250 -78.57%
Wages and salaries $115,000 $117,000 -1.739%
Superannuation $15,000 $16,000 -6.66%
Travel and accommodation $2,100 $2,300 -9.52%
Water $1,900 $2,100 -10.52%

1
Australian Training School trading as Southern Academy of Business and Technology
Level 1 and 4 Bathurst Street Sydney NSW 2000 | Phone: 1300 852 205 | RTO Code: 31595 | CRICOS Provider Code: 03602E
This document is Profit and Loss Account.
It is part of the supporting assessment resources for Assessment Task 2 of BSBFIM501.
Version : 2.0 Last Updated : 07 May 2018 Next Update: 07 May 2019 Page 1 of 3
This document is Profit and Loss Account.
It is part of the supporting assessment resources for Assessment Task 2 of BSBFIM501.

Work cover insurance $870 $870 0%

Total expense $323,520 $334,720
Net Profit $26,480 $75,280

2
Australian Training School trading as Southern Academy of Business and Technology
Level 1 and 4 Bathurst Street Sydney NSW 2000 | Phone: 1300 852 205 | RTO Code: 31595 | CRICOS Provider Code: 03602E
This document is Profit and Loss Account.
It is part of the supporting assessment resources for Assessment Task 2 of BSBFIM501.
Version : 2.0 Last Updated : 07 May 2018 Next Update: 07 May 2019 Page 2 of 3
This document is Profit and Loss Account.
It is part of the supporting assessment resources for Assessment Task 2 of BSBFIM501.

Performance for Melbourne and Sydney

Six months to December 16

Financial performance analysis

Variances

Solutions to variances

3
Australian Training School trading as Southern Academy of Business and Technology
Level 1 and 4 Bathurst Street Sydney NSW 2000 | Phone: 1300 852 205 | RTO Code: 31595 | CRICOS Provider Code: 03602E
This document is Profit and Loss Account.
It is part of the supporting assessment resources for Assessment Task 2 of BSBFIM501.
Version : 2.0 Last Updated : 07 May 2018 Next Update: 07 May 2019 Page 3 of 3