ctivity 2: Develop budget from previous financial data and notes from the accountant This activity is a continuation of Activity 1. This activity requires you to conduct an analysis of the past outcomes and prepare the following budgets based on this analysed information and the budget plan summary. Sales and profit budget GST Cash flow budget Debtor ageing summary The budgets must be prepared on a quarterly basis. When preparing the budgets, you must ensure that you must: Conduct a detailed analysis of previous financial data to identify different quarters of the financial year that have generated a profit or loss and to accurately determine the allocation of resources for each quarter of the budget