Budgetary Critical Thinkings Samples For Students

“Budgetary control is part of overall organisation control and is concerned primarily with the control of performance. The use of budgetary control in performance management has of late taken on greater importance especially as a more integrative control mechanism for the organisation”. Critically evaluate this claim, supporting your discussion with both theoretical arguments and practical examples.

Introduction

The primary objective of budgetary control is to plan and control an organization’s activities in the short-term as opposed to the long-term corporate and strategic planning with broad objectives. While the short-term plan may be for the objectives for the subsequent accounting year, ...

Vice president’s comments on cost and schedule variance

The concerns of Spokane’s vice president were valid because the cost and schedule variances had gone up between the second and the third month. The total cost variances for all the work packages in the second month were $14,000, a figure that went up $25,000 in the third month, reflecting a -78% surge in the total cost variances. Also, the scheduled variances indicated by the vice president were correct, as it showed that the period between the second and the third month experienced a 45% slippage on schedules. However, the information on the table is not ...

Abstract

The payer mix in healthcare financing currently comprises of three broad groups that include private insurance, government payers, and private payers. Private insurance covers 61% of the US population and contributes 49% in revenues. Government payers cover 31% of the population and contribute 55% of the revenues while the private payers account for 5% of population and contribute 6% of the revenues. The Affordable Care Act seeks to increase the insurance coverage in the United States. It would increase the contributions from government payer and reduce the default risk associated the private payers. This would also ensure that all ...

Introduction

A budget is a complete, formal arrangement that gauges the conceivable uses of funds for the association over a particular period. Budgeting depicts the general methodology of getting ready and utilizing a budget. Since budgets are such significant devices for arranging and control of funds, budgeting influences almost every kind of association from governments and substantial organizations to little organizations and families and people. A little business and large participates in budgeting to focus the most productive and compelling methods for profiting and extending its benefits base. Budgeting can help an organization utilize its restricted budgetary and human assets in a way, which ...

Q1. How does the modified accrual basis of accounting differ from the accrual basis?

-The concept of Modified Accrual basis is more popular in the preparation of the financial statements of Government Agencies as those financial statements focus on the flow of current financial resources and if the available resources were allocated and used in conformity with the budgetary and other financial constraints. Under this accrual method, the government agencies use the combination of accrual accounting and cash basis accounting. Hence, under this accrual method of accounting, revenues that will not be collected in the time period so as to pay-off current period obligations, will not be included as part of revenue figures. ...