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SayPro Identify any discrepancies
Email: info@saypro.online Call/WhatsApp: + 27 84 313 7407
SayPro is a Global Solutions Provider working with Individuals, Governments, Corporate Businesses, Municipalities, International Institutions. SayPro works across various Industries, Sectors providing wide range of solutions.
Step 1: Gather Data
- Expected (Budgeted) Amounts:
- Collect the budgeted amounts for each expense and revenue category.
- Actual Amounts:
- Collect the actual amounts spent or earned for each category during the event.
Step 2: Create a Comparison Table
| Category | Description | Budgeted Amount (R) | Actual Amount (R) | Difference (R) | Notes |
|---|---|---|---|---|---|
| Venue Rental | [Budgeted] | [Actual] | [Difference] | ||
| Catering | [Budgeted] | [Actual] | [Difference] | ||
| Marketing/Promotion | [Budgeted] | [Actual] | [Difference] | ||
| Speakers/Entertainment | [Budgeted] | [Actual] | [Difference] | ||
| Audio-Visual Equipment | [Budgeted] | [Actual] | [Difference] | ||
| Miscellaneous | [Budgeted] | [Actual] | [Difference] | ||
| Total Expenses | [Budgeted] | [Actual] | [Difference] | ||
| Registration Fees | [Budgeted] | [Actual] | [Difference] | ||
| Sponsorship Fees | [Budgeted] | [Actual] | [Difference] | ||
| Merchandise Sales | [Budgeted] | [Actual] | [Difference] | ||
| Other Revenue Sources | [Budgeted] | [Actual] | [Difference] | ||
| Total Revenue | [Budgeted] | [Actual] | [Difference] | ||
| Net Profit/Loss | [Net Budgeted] | [Net Actual] | [Difference] |
Step 3: Calculate Differences
- For each category, calculate the difference between the budgeted amount and the actual amount:
Difference=Actual Amount−Budgeted Amount\text{Difference} = \text{Actual Amount} – \text{Budgeted Amount}
Step 4: Analyze Discrepancies
- Positive Difference: Indicates that actual amounts were higher than budgeted amounts (e.g., higher expenses or higher revenue).
- Negative Difference: Indicates that actual amounts were lower than budgeted amounts (e.g., lower expenses or lower revenue).
Step 5: Identify and Address Causes
- Review the notes and context for each discrepancy to identify the reasons behind the differences.
- Determine if the discrepancies were due to changes in vendor prices, unexpected costs, higher/lower attendance, etc.
- Adjust future budgets based on the analysis to improve accuracy.
Example Analysis
| Category | Description | Budgeted Amount (R) | Actual Amount (R) | Difference (R) | Notes |
|---|---|---|---|---|---|
| Venue Rental | R 12,500 | R 13,000 | R 500 | Slightly higher due to last-minute changes | |
| Catering | R 16,250 | R 15,000 | -R 1,250 | Lower due to fewer attendees | |
| Marketing/Promotion | R 7,500 | R 8,000 | R 500 | Additional promotional materials | |
| Speakers/Entertainment | R 7,500 | R 7,200 | -R 300 | ||
| Audio-Visual Equipment | R 3,500 | R 3,800 | R 300 | Additional equipment rental | |
| Miscellaneous | R 4,000 | R 3,500 | -R 500 | ||
| Total Expenses | R 51,250 | R 50,500 | -R 750 | ||
| Registration Fees | R 61,500 | R 60,000 | -R 1,500 | Lower due to fewer attendees | |
| Sponsorship Fees | R 20,000 | R 22,000 | R 2,000 | Additional sponsors | |
| Merchandise Sales | R 5,000 | R 5,500 | R 500 | Higher merchandise sales | |
| Other Revenue Sources | R 2,000 | R 2,200 | R 200 | ||
| Total Revenue | R 88,500 | R 89,700 | R 1,200 | ||
| Net Profit/Loss | R 37,250 | R 39,200 | R 1,950 |
By creating a detailed comparison table and analyzing the differences, you can effectively identify discrepancies between expected and actual expenses or revenue. If you provide specific data for your event, we can update the table accordingly.
- Neftaly Malatjie | CEO | SayPro
- Email: info@saypro.online
- Call: + 27 84 313 7407
- Website: www.saypro.online
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