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I have a retained profit of $410000,capital $1191 000, closing inventory $209 000, non current asset $950 000 and the is an i crease in non current asset of $40 000, receivable $260 000,payables $86 000,short term liability is $24 000,cash $25 000,overdraft $300 000 bt the balance sheet doesn’t add up
You are quite correct – it certainly does not add up!!
But how am I supposed to help without seeing the questions and being able to check were you got your numbers from?
(Incidentally we stopped calling it ‘Balance Sheet’ several years ago – it is called the Statement of Financial Position.)
Also, this is not relevant at all for Paper F2 – only for Paper F3. You cannot be asked for a Statement of financial position in Paper F2.
(Are you watching our free lectures? They are complete courses for both Paper F2 and Paper F3 and cover everything you need to be able to pass the exams well!)
You have obviously not watched the free lectures, because I do explain rolling budgets in detail.
It is where each month (or each three months – there is no rule) you prepare a budget for the following 12 months. So every month you are taking the existing budget, removing one month, updating the other 11 months, and adding an extra month.
The lecture does explain this and also discusses the merits of rolling budgets.There are only 4 lectures on budgeting:
1 Budgeting introduction
2 Budgeting example 1
3 Budgeting example 2
4 Budgeting testsAnd in these 4 lectures there isn’t anything on rolling budgets, in these lectures you only talked about original, flexed and actual budgets.
You are quite correct – I was forgetting this was F2 (because they are in the lectures for F5).
Rolling budgets are not examinable in F2. The are examined in F5 🙂
Yeah, so I wanted to know about continuous budgets. Just the general idea because they are mentioned in BPP.
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