Financial Guide for SMEs - SME Corporation Malaysia

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Financial Guide for SMEsAdam’s Computer BagsIncome StatementFor the Year Ending Year OneRevenueSalesTotal SalesRMRM52,00052,000(1,000 bags @ RM52 each)Cost of Goods Sold (COGS)Opening InventoryInventory PurchasesLess Closing InventoryRMRMRM-34,3203,120Total Cost of Goods SoldRM31,200(See details on the next page)Gross ProfitRM20,800ExpensesAdvertisingBank Service ChargesInsurancePayrollProfessional Fees(Legal, Accounting)Utilities & TelephoneOthers:Computer SoftwareTotal ExpensesRMRMRMRMRMRMRMRM50012050013,00020080048015,600Net Profit Before TaxRM5,20014chapter 1 01-21 Eng.indd 148/15/11 5:01:24 PM
Financial Guide for SMEsTowards the end of the year, Adam managed to purchase 100 more bagson credit from his supplier for an order in the new year. This leaves him withRM3,120 of inventory on hand at the end of the year.Calculation for Adam’s Cost of Goods SoldOpening inventoryNilPlus inventory purchased during the year RM34,320(1,100 bags @ RM 31.20 each)Equals inventory available for saleRM34,320Less inventory on hand at the end of RM 3,120the year(100 bags @ RM 31.20 each)Cost of goods soldRM31,200For a service business, the income statement will usually not have a calculationof cost of goods sold. In some instances, where labour costs can be directlyattributed to sales, you may consider including these costs as the cost of goods(services) sold.TIPRegularly (monthly) produce profi t and loss information and compareagainst activities in the previous months to ensure that your profi texpectations are being met15chapter 1 01-21 Eng.indd 158/15/11 5:01:24 PM
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Financial Guide for SMEsCash Conver
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Financial Guide for SMEsManaging Ca
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Financial Guide for SMEsIn month 1,
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Financial Guide for SMEsCash Flow F
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Financial Guide for SMEsAdam will h
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Section III : Financing Your Busine
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Financial Guide for SMEsDebt, Equit
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Financial Guide for SMEsDefinitions
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Financial Guide for SMEsTypes of Se
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Repayment of Debt Finance/ Investme
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Financial Guide for SMEsAdvantagesD
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Financial Guide for SMEsDeciding Be
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Financial Guide for SMEsTransaction
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Financial Guide for SMEs• Do you
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Financial Guide for SMEsTrade Finan
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Financial Guide for SMEsInternation
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Financial Guide for SMEsProduct Usa
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Section IV : Managing LendersBanker
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Financial Guide for SMEsApplying Fo
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Financial Guide for SMEsSME FINANCI
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Financial Guide for SMEs2.3.4.5.Sec
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Financial Guide for SMEs3.4.Section
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Financial Guide for SMEsType of Doc
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Financial Guide for SMEs3.4.5.6.7.8
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Financial Guide for SMEsLoan Applic
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Financial Guide for SMEsExample of
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Financial Guide for SMEsRefinancing
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Financial Guide for SMEsBenefits of
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Financial Guide for SMEsChange in v
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Financial Guide for SMEsYou should
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Financial Guide for SMEsManaging Yo
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Section V : Better Business Financi
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Financial Guide for SMEsFinancial C
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Financial Guide for SMEsProcedureAc
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ChapterSix-Cash and ProfitCashYouro
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Financial Guide for SMEsACKNOWLEDGE
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