HR7003 Finanace Assignment Brief 2023/24

Assignment Task

Coffee Shack is a privately owned company that runs an established chain of cafes in fifty-nine locations around the UK. Most are located on high streets and in shopping centers, but there are also units located in airports and large railway stations. The company sells a wide variety of specialty coffees, cakes,  sandwiches, and other beverages. It markets itself as a sustainable business with high standards of business ethics. 

The Coffee Shack is a company that serves commuters and regular customers located next to the busiest stations and shopping malls. The company’s planning  and actual budgets for January are shown below:

• Prepare a report showing Coffee Shack revenue and spending variance for January 2024. In your report, outline the possible reasons for variances. Outline the objectives of budgeting and explain how Coffee Shack benefits from engaging in robust budgetary processes.
• Management Accountant of Coffee Shack has been analyzing income statements on the store locations and drawing management's attention to underperforming. The statement has shown details for the period ending  31 December 20x3 as follows: