1. How do you monitor your overheads(ACB)?
2. Why would car insurance be less than expected?
3. In a club a/c does your purchase of equipment go into any accounts besides the balance sheet (eg. receipts and payments)?
4. Is stationary on hand like stationary prepaid or stationary due when stationary is an expense?
5. In any budget when its "how much did they expect to save" do you look at the net cash or the closing cash?
Thats it, all help appreciated, i can answer questions in return, you can see my subjects if you click on my name....
1. Overheads are expenses and a way to monitor them would be by keeping track of how much you're spending, eg. turning off lights when no one is in the room
2. Car insurance may be less if you receive a no claims bonus or if you shop around and find a cheaper car insurance
3. Equipment will go into a receipts and payments a/c and the depreciated amount would go into the income and expenditure a/c
4. Stationary prepaid is stationary on hand I guess (not sure about this since technically you already had the stationary from the year before and have paid for it)
stationary would be an expense if it is put in the expenses and stationary prepaid would be taken from it, but stationary on hand I'm not sure (something like that came up 2012 praying it won't come up this year)
5. You look at the net cash but it has the closing cash added onto it
Does anyone know what discretionary expenditure is?
it is something that is not essential
@geniuse something that is not required eg. a holiday. you may want to go but you don't actually need to go.