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Link Budget Plans to Operational Objectives
Complete the following in small groups / individually as per the instructions from your facilitator:
12.1 You are a sole trader operating under the name Spice Co. You produce the chemical flavours used to flavour foodstuffs. You have been in operation since 1998. You produce Annual Financial Statements, so that interested parties, such as the bank, clients and suppliers who do business with you and SARS, the Receiver of Revenue, may review these financial statements and make decisions on the results accordingly.
Draw up a simple budget for the three-month period from 1 September 2XX6 to 30 November 2XX6. You may work on the assumption that all the costs have gone up by 10% across the board due to higher inflation and increases in the prime lending rate. Your annual income has increased by 15%.
12.2 Explain how operational objectives of the unit are established in line with the unit’s strategic plan:
This response will be reviewed and graded after submission.