Cash flow statement 2008 Cash receipts (a)€175,000 Cash sales€40,000 Loans €215,000 Total cash receipts Cash payments (b) Rent€102,000 Admin€85,000 Total cash payments€187,000 Net cash flow€28,000
Profit and loss account 2008 Net sales (c)250,000 Cost of sales(80,000) Gross profit170,000 Selling, general, and administrative expenses(65,000) Operating profit (d)105,000 Other income20,000 Earnings before taxes125,000 Taxes(25,000) Net income100,000
Balance sheet April 1 2008 Assets Current assets (e) Cash€75,000 Accounts receivable€150,000 Total current assets€225,000 Fixed assets (f) Land€150,000 Total fixed assets€150,000 Total assets€375,000 Liabilities (g) Current liabilities Taxes payable€100,000 Payroll€125,000 Total current liabilities€225,000 Long-term liabilities Loans repayable€50,000 Total long-term liabilities€50,000 Total liabilities€275,000 Net assets (h)€100,000 Owners’ equity (i)€100,000
are clear admit they don’t understand stick to the agenda summarize decisions clearly are direct and sometimes rude often interrupt are unclear never admit ignorance don’t stick to the agenda don’t summarize decisions are indirect and never rude rarely interrupt In meetings, people generally:
A:Well, I think we’ve got to attract top people with things other than money. B:How do you think we can do that? I mean, what exactly do you have in mind? A:I was thinking of providing a better all round package. B:You mean with things like good terms and conditions. A:Yes, that’s right. Holidays, paternity and maternity leave, sabbaticals – that sort of thing. What do you think? B:I agree with you. I think it’s a good idea to consider non- financial incentives to get the best people, if that’s what you mean. A:Yes, I do. So we’re agreed we’ll look into the whole salary package for executive recruitment.
Suggested minutes Meeting minutes Date: 16 September Time: 14.30 – 16.00 Venue: Room 346 Chair: Enzo Falconi (EF) Attendees: Alice Keller (AK), François Weber (FW), Dylan Sanders (DS) 2 Chasing up late payers We agreed to review the email sent to late payers and also when the first reminder is sent out. FW will redraft the email to make it more assertive and AK will review the schedule for reminders. FW and AK to report back at next meeting. FW and AK 30 th September
3 Covering for absent colleagues DS argued that we need to cover for absent colleagues rather than just leaving their work till they get back. AK said the year end was not the time to introduce this initiative and that there would be a need for training. DS agreed to draw up a draft training schedule for next year which we can discuss in January. DS January 4 Reducing office waste Following a brainstorming session on how waste could be reduced, it was agreed that we needed the advice of an environmental expert. EF agreed to follow this up and report back in October. EF 13 th October