Jonesboro Newspaper’s Budget and Cash Flow Essay

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Budget And Cash Flow Analysis

Budget details the expected sources of income and the incurred expenditure (Helfert, 2001, p. 7). A budget enables an individual to forecast the amount of money to be realized upon the execution of a given undertaking (Sullivan, 2003, p. 16). This paper provides a detailed budget for the Jonesboro Newspaper Annual Awards Picnic. Approximately 600 people are expected at the event. It means that the budget will have to cater to all the attendants. The company will provide 50% of the anticipated budget expenses while the rest will be sourced from other income-generating activities.

For the success of an event such as a picnic, funding is very critical. In this case, cash flow analysis will be important in determining when the money will be required and how it will be released. An effective cash flow analysis plays a significant role while developing a good budget (Wild, 2005, p. 16). Upon evaluating the flow of cash, it becomes easy to know when to adjust the budget. Also, cash flow analysis is useful for effective projections. It will enable both the company and the Jonesboro Newspaper to make the right decisions.

Company Picnic

Company Picnic

To attain a high level of efficiency in conducting the picnic, all the money required will be paid in advance. It will ensure that the necessary equipment and facilities for the picnic are available. To achieve effective planning, there is a need to undertake an effective cash flow analysis. The table below gives an illustration of the sources of income and expenses to be incurred in the event.

Budget

Budget

A part of the income from the company will be used to cater for pre-event analysis. This decision was arrived at after because some of the income-generating activities may take time to realize the necessary funds. Therefore, relying on these income-generating activities might result in ineffective planning. Other full payments will be done one week to the event. Food and beverages shall account for a significant proportion of the total budget, as illustrated below.

Food and beverages

  • Snacks $ 5,000
  • Lunch $ 5,000
  • Drinks $ 10,000

Detailed information on income-generating activities

Income-generating activities will provide more avenues through which the company will acquire additional revenue. Even though the event is organized by the company, all the employees need to be involved. Such an approach will enable employees to develop a feeling of appreciation in the process. As a result, they will be committed to ensuring that income-generating activities succeed. The main income-generating activities include the sale of tickets, raffles, T-shirt sales, and pre-event fundraisers. To maximize returns from the sale of tickets, their price will not be set above $ 2.00. The table below illustrates the amount of money that will be generated from the various income-generating activities.

Details

  • Ticket sales $ 2.00 * 600 people $ 12,000
  • Raffles $ 8,000
  • T shirt sales $ 6,000
  • Pre-event fundraisers $ 10,000
  • Total $ 36,000.

Pre-event fundraisers will be done after the staff has been involved in small contributions.

Reference List

Helfert, E. (2001). The nature of financial statements: The cash flow statement. New York: McGraw-Hill.

Sullivan, A. (2003). Economics: principles in action. New Jersey: Upper Saddle River.

Wild, J, P. (2005). Fundamental Accounting Principles. New York: McGraw-Hill Companies.

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IvyPanda. (2021, February 4). Jonesboro Newspaper's Budget and Cash Flow. https://ivypanda.com/essays/jonesboro-newspapers-budget-and-cash-flow/

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IvyPanda. (2021) 'Jonesboro Newspaper's Budget and Cash Flow'. 4 February.

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IvyPanda. 2021. "Jonesboro Newspaper's Budget and Cash Flow." February 4, 2021. https://ivypanda.com/essays/jonesboro-newspapers-budget-and-cash-flow/.

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