Essays on Budgets

Introduction

The Congress plays a critical role in the running of a state by performing several functions. It is formed by members who are elected by people to represent them on matters about the making and passing of the laws of the state. It is mainly involved in the making and passing of the bills and budgets of a country. Therefore, it is evident that the Congress is a critical organ in the governing of a country. As a vital organ of the government, Congress ensures that the strategic intelligence of the country is controlled in the most appropriate way. ...

How to Use Policy to Change Public School’s Funding and Resources Allocation

Ph.D. in Education-Leadership, Change, Policy in Education

Abstract

The present study aims to investigate the funding disparities deprive many minorities and low-income families of the opportunity for education success. The research endeavors to explore different ways policy can be used to equally allocate educational resources and use them to the advantage of the less fortunate sections of the society. As one of its important goals, this prospectus paper informs the research as to how to weigh the options available to the school managements and the education policy makers. The paper provides a purpose to the proposed study by dwelling upon ...

MANAGEMENT ACCOUNTING

Management Accounting Introduction Setting the annual budget has been one of the mandatory activities in organizations at both tactical and operational levels. The annual budget outlines the projected revenues and costs for the firm in the coming year or the finite time period. Such budget is set to clarify the organizational direction to pursue by identifying the target revenues and variable costs associated with the business operations. It served as a successful budgeting process for several years, but today’s highly dynamic and continuously changing business landscape has made this system obsolete. In the 21st century, the annual budgeting ...

BODY CAMERAS TO BENEFIT POLICE AND CITIZENS

There is a sustained perception by minority groups such as African-Americans that the law enforcement officers treat discriminately. This has increased incidences of police involvement against the demographics. However, the introduction and use of body cameras come as a panacea towards bringing to an end the unprecedented cases of police brutality and use of excessive force. In addition, civil suits concerning police brutality launched by African Americans are expected to reduce the involvement of body cameras. According to the H.Res.16, the wearing of body cameras by local law enforcement agencies while serving the communities encourages transparency and protects both ...

Introduction

Operating budget can be defined as a combination of two budgets – revenue budget and budget of expenses (Gapenski, 2012). Creating and monitoring an operating budget is essential for healthcare providers. Changes in regards to diminishes in repayment for administrations gave, numerous directions for patient security, and an expansion in the maturing persistent populace looking for therapeutic administrations assume a part in how well the working spending plan is kept up all through the financial year of the budget. Understanding and actualizing successful financial management practices is the way to making a precise anticipated budget and also checking changes in ...

General accounts are accounts that record financial transactions that are not specifically restricted to a particular set of accounts or are not necessary to account for in another fund. The general fund is the only one kept and run by governments all over the world. The Special fund accounts records general government transactions that are normally restricted by law or contractual agreements for particular predetermined purpose other than huge capital projects. This accounts will always exists as long as government has resources dedicated to some special programs and projects. In addition, budget preparation is an important process done every ...

ContentsPage

Executive Summary 3 Introduction 4 Discussion 4 Conclusion 7

References 10

Executive Summary Quality education is not always equals to a higher budget. This kind of education can be achieved by maximizing the readily available resources and optimizing human resource skills, and using modern technology at human advantage. When environment and human resources, and modern technology are properly used, an excellent quality of education is possible without the fear of workers’ strike and student protests. This study wants to present a possibility of a cost less quality education among the leaders and administrators of St. Vincent Community College. It is a ...

The idea of Medicaid expansion was initially received by the common American population with mixed reviews. Some thought it was a great idea, and wondered why nobody had thought of it sooner. Others thought it was a terribly idea, and wondered why people did not get a job and pay for their own insurance. The proposal was made with the common, impoverished American in mind. The expansion was federally funded, likely to coerce as many states as possibly into expanding Medicaid for their populations. In states that adopted it, the expansion offers healthcare to all men, women, and children ...

Question 1

Top down budgeting is a financial planning strategy, especially in the budget making process in which financial spending is allocated starting at the highest levels of aggregation downwards (Kramer and Hartmann 317). Top down budgeting, in most instances, considers the overall spending amount required at the involved institution before breaking it down to the departmental levels. The strategy considers that it is the largest units and highly-rated programs of an organization that really matter for the success of a business organization. The emphasis on the larger aspects of business is intended to ensure that significant and important departments in ...

A personal budget can be described as an estimate of the anticipated costs, resources and revenues of an individual over a specified period. When used properly, it can be used to estimate the future financial needs and sufficiently cater for the current financial obligations of an individual. A personal budget is a critical contributor to a reasonable financial stability of an individual. When personal budgeting is taken into consideration, it helps an individual to escape any personal financial crisis by ensuring that they spend their income on essential expenses. When prepared objectively, an own budget shows the truth about ...

Chapter 2

Literature review Russia has a very large number of hospitals, physicians, and health care workers as compared to any other country in the world. In spite of this, the medical care fraternity has failed to offer standard and acceptable health care services to its people. Russia has faced a health care system crisis for an extended period since the collapse of the Soviet Union. Significant transformation in the social, economic, and political environment has adversely affected the health care system (Britnell, 2015). The poor health care system in Russia has been precipitated by the lack of medical and technical ...

Abstract

This essay examines the role of ethics in organizations or companies and how ethics can be taught and instituted in such entities. The research identifies that most organizations are set up to attain specific goals. In the case of companies, the main motive for creation is to attain the highest level of profits for shareholders. Ethics seem to reduce the economic returns of a company in the short run. This is in the form of direct costs for monitoring compliance and indirect costs in the form of lost opportunities. However, in the long-run, ethics seem to be beneficial rather ...

Multi-Organisational

Enterprises & System(BNM830) Major: Supply Chain Management Total word count: 5728 Net Word Count: 5023 PART 1 A. Apple Inc. is one organization that is known by many to deliver a diverse and complex product-service system. The firm is a technology organization whose products are of high quality and more available to its clients. The company also provides varied services and has opted to venture into other complex activities that are not common with many, if not all, technology companies (Apple, 2015). One of its best selling products is the iPhone6 brand that is not only available in the ...

Literature Review

In education communication is essential. The school, the teachers, and the parents must communicate with one another to educate their students. When there is a lack of communication the students suffer. The modes of communication are evolving every day, because of the advances made in technology. School systems needs to transition into using some of these modern forms of communications to better reach the diverse population of parents present within a school. Connecting with parents using multiple methods could increase parent involvement as well as student achievement. Different styles of communication could be used for different reasons. It must ...

Art-related disciplines are critical to educating citizens and students of every age. Nevertheless, the arts have declined significantly in schools and public participation. According to a recent study by Rabkin and Hedberg (2011), fewer eighteen-year-olds in a 2008 survey reported receiving arts instruction in their childhood than a similar age group surveyed in 1982. The research suggested that the provision of arts education dropped from 65% in 1982 to about 50% in 2008 (Rabkin & Hedberg, 2011). Moreover, it included survey data gathered in 2002 and 1992 with each successive period indicating a severe decline in Americans’ access to arts ...

MANAGEMENT ACCOUNTING

Introduction Management and financial accounting provide platforms for an organization management to provide informed decision and policies. Organization management uses the budget as the accounting tool in formulation of policies and allocation of resources in different activities. Accounting encompasses the entire body of knowledge that deals with recording and keeping of all financial transactions. It entails identification, recording, classification, verification, and communication of financial information relating to the resources of the organization. On the other hand, financial accounting is a subset of accounting and is concerned with the use of financial data to measure economic performance of the organization. ...

1 The assessment of financial performance of the division managers in each subsidiary can be obtained by taking a difference between budgeted profits and actual profits in US dollars. It can be understood from the table provided below. The table provided above summarizes the information regarding the actual and budget performance of each subsidiary in 2004 . All amounts are expressed in US dollars that are helpful in comparison among them. It can be seen from Table 1 that the subsidiary of Japan has performed below budgeted profits that in dollars but it might have increased its profits as compared ...

MANAGEMENT ACCOUNTING

Standard Costs Used for Variance Analysis and Favourable/Unfavourable Terminologies with Suitable Examples 8

References 11

Management Accounting Differences between Management Accounting and Financial Accounting and the need for Investing in the latest Accounting Software Audience Served The basic difference between these two accounting fields is that the management accounting is concerned with providing information to internal stakeholders of an organisation such as the senior management, supervisors and employees. In contrast, financial accounting provides information about the financial health of the business to external stakeholders such as potential investors, shareholders (in case of a publicly traded company), tax authorities, lending institutions and ...

The end of the Second World War ushered Japan into a completely different era. A new constitution was instituted that made Japan a parliamentary democracy. The constitution recognizes the emperor as a ceremonial leader. Actual activities of the legislative and executive arm of government is to be split between a bicameral parliamentary system (the National Diet) and the Prime Minister who heads a cabinet elected by the National Diet and approved by the Emperor. The Liberal Democratic Party (LDP) led Japan for many decades before they were defeated by a landslide victory by the Democratic Party of Japan (DPJ) ...

Question 1 (a) two examples of badly-behaved preferences about Economic Theory and Principles

The first badly behaved preference is a situation where an individual prefers inferior goods to superior products when indeed they are in the financial position where they can comfortably afford such goods. Some of the inferior products include some of the staple foods that are in existence. With an increase in income levels, individuals tend to shift to superior products. It would appear uncommon to stick to a product that naturally belongs to a lower class. In real life situations, when incomes increase, people tend to change their shopping malls and even the foods that they eat. Furthermore, they ...

MANAGEMENT ACCOUNTING

Introduction Management and financial accounting provide platforms for an organization management to provide informed decision and policies. Organization management uses the budget as the accounting tool in formulation and allocation of resources in different organization activities. The managers are the custodian of the budgets under the management and financial accounting. Financial statement and records provide viable financial data that helps in organization management especially in decision-making. Therefore, the study focuses on the management and financial accounting and expounding on objectives of the budget in an organization. The study will also provide the need of using variance analysis in organization ...

The airline industry is considered to be highly competitive and therefore airline company managers will need to determine the relevance of their current ERP systems with regards to the applicability of the financial information it generates. This is because the same quantitative and qualitative information is used for both financial and management accounting. However, the main goal of a company is to generate better profitability for its owners while remaining sustainable. This is done by controlling costs while improving revenues through the use of budgets and the standardization of costs and results to variances, which are primarily under management ...

1.0 Chapter 1 Introduction 1.1 Background and Rationale of the Research The industry of construction is not only a key player in the national economic growth; but also a crucial sector affecting the economic and social welfare of citizenry, particularly in its primary function in providing reliable and decent shelter. It is viewed as one of the most essential sector to highly contribute to the growth of an entire economy at the provincial, national and international levels (Artto & Kujala, 2008). In the recent years, cost modelling and estimation for construction projects have attracted major attention of several research scholars. ...

Chapter 18: Florida State Officials

Chapter 18: Florida State Officials

County Commissioners Miami-Dade: Jose Pepe Diaz Broward County: Marty Kiar, Mark Bogen, Chip LaMarca, Lois Wexler, Bean Furr, Tim Ryan, Barbara Sharief, Dale Holness Pinellas County: Kenneth Welch, Dave Eggers, John Morroni, Janet Long, Karen Williams Seel Hillsborough County: Toni PAPPAS, Sandra Ziehn, Carol Holden Duval County: Alejo Garcia, David Garza, Rene, Gilberto Uribe Brevard County: Andy Anderson, Jim Berfield St. Lucie County: Kim Johnson. Fire District Commissioners: Rufus Alexander, Michele Berger, Johnson Kim, Chris Dzadovsky, Shannon Martin, Mark Gotz

Collier County: Georgia A. Hiller, Donna Fiala, Tom Henning, Commissioner Penny Taylor, and Tim Nance

Representatives Debbie Wasserman, Alan Grayson, Patrick Murphy, David Jolly, Ileana Ros-Lehtinen, Corrine Brown, Ted ...

Introduction

This marketing plan aims to document the marketing mix of technologies for the new LG vision product. As LG moves ahead with current technology, the company maintains its efficiency and precision with technological devices. LG has had more than one success in the market with the company’s inventions. This has been the company’s mission since the day it was founded. The company has focused almost exclusively on targeting what people need to help them in their daily living. Also, the company exceeds its previous year’s sales regularly. For example, in 2014 LG global sales reached 55.01 ...

1. Define the ways in which each component (police, courts, and corrections) of the criminal justice system administers justice. Which component is most effective at meeting their goals? Police play the role of working with the public in order to enforce legal requirements and protect the privacy and liberty of individuals. In order to do this, however, police rely on the underlying cultural values and norms of the communities in which they function. Police interact with the public in order to ascertain those that are committing offenses and present these individuals to the criminal justice system for sentencing of ...

Abstract

Risk management is undertaken differently in varied sectors. In a survey of 415 projects in Brazil, the revelation came out that hiring a risk manager or planning for risk enhances project success rate. However, risk means diverse things for different sectors. In IT, some risks are desirable, because they disrupt the status, making some people redundant and increasing the opportunities for the skilled. Hence, the path taken to manage risk in the IT field is different from how risk is managed in other areas. The construction industry is intensive in the use of resources, and risk management should be ...

Citizen Inc.

Summary of the business Citizen Inc. is a fully incorporated business and is headquartered in Kentucky. The company was founded in April 2016 and is set to begin operations in July this year. It is registered to produce t-shirts, including branded t-shirts. The company will use screen printing to produce long-lasting t-shirts. The company currently has four employees. These include designers and a marketer. The target market includes high school and university students. It will also use a website for online sales. I have contributed $5,000 to start up the business. Market research indicates positive prospects in the ...

Integrated Cost and Schedule Risk Analysis

Introduction Over the years, the process of analyzing projects cost did not take into accounts an explicit reference or any reference to the project schedules and its risk. As organizations witnessed numerous risks in their projects implementation, a great emphasis on risk awareness and analysis was made. As a result, project managers created an integrated cost-schedule risk analysis to create the need of viewing the risk analysis as a crucial input when making key projects decisions (Hulett & Campbell, 2002). In this paper, we explain important concepts on schedule risk and overall cost. The paper explains the importance of integration ...

Business Accounting Assignment 1: Business Report on Accounting Practices and Financial Standing of Crafty Limited

Introduction Final Accounts are prepared at the accounting cycle in order to determine the financial state of a business during a designated period. Preparation of final accounts include Manufacturing and Trading account statements, Profit and Loss Account sheets and the Balance Sheet. In order to calculate the amount of profit or loss a business entity has generated within a specified period, the Trading, Profit and Loss Account is prepared; since the Balance Sheet provides a snapshot of the assets and liabilities of a business, its interpretation reveals how financially viable the business is currently; while the most important function ...

Introduction

Major Forces Affecting the Delivery of Healthcare Today Various factors influence the delivery of health care. One of the major forces is the cost of healthcare in the current economic environment. The influence of costs in the delivery of care is shown by the increase in the managed care plans, the reduction in the hospitalization periods, and the outpatient treatment (White, Duncan & Baumle, 2010). The other force that influences health care is access to care. Access has a dual element. In addition to the physical access where the health care facilities are physically inaccessible, there is the economic access ...

MANAGEMENT ACCOUNTING REPORT

Introduction This report covers budgeting, break-even analysis, and the analysis of make-or-buy decision. The budgeting details the purpose of a budget and the importance of involving staff in developing a budget. The report contains a direct material purchase budget (in units and in dollars), a direct labor budget (in hours and in dollars), and a manufacturing overhead budget. The break-even analysis compares the hammer division break-even point locally and in Myanmar. The break-even analysis indicates that the business will have a lower break-even point if they shift the hammer division to Myanmar because of lower fixed costs and reduced ...

Question one

The practices that are involved in the setup and management of healthcare organization budgets are the application of comparative standards, setting accurate and high departmental budgets, the establishment of the culture of accountability and expenses management, making corrective action plans, and using a balanced scorecard. The historical, zero-based, and flexible are some of the budgeting approaches that are used in any healthcare organization. For instance, historical methods assume that the past data has been updated by the current facts and proposals. Therefore, it incorporates trends into projections. The zero-based approach assumes the justification of all costs in the hospital, ...

Budget Development Project

The great depression in 1929 led to the emergence of organization some of which are meant to make profits while other run as non-profits (Penner, 2013). Indeed, these organizations are required to budget for their expenses in light of their operations. A budget refers to the overall estimation of how an organization, institution, individual or government aims to spend the resources for a specific period. These resources may include money, inventory, labour among other factors of production . Normally, top-level managers including CEOs do the formulation of a budget. However, there can be involvement of subordinate staff in decision-making. In ...

Executive Summary

GPV Enterprise was formed February 2009 to provide travel arrangements that include airline, hotel, car and vacation packages to prospective clients. GPV also plans events such as family reunions and tours. The founders of GPV are Marissa and Anthony Gilbert. Both founders have their MBAs and are passionate about GPV Enterprise. An opportunity for GPV’s success exists because the national tourism and travel industry is growing annually. Further, the Nashville travel market is growing at an alarming rate and has no providers who specialize in travel and event planning. GPV is destined to take advantage of this growth ...

Prison Funding vs. Education Funding

Introduction There is an increase in budget allocation in the prisons compared education spending. Both correction and education are vital for any state or country. It would be very hard for a country to survive without expenditure in prisons. As well, education is an essential need and speeds up the development of any country and therefore it is inevitable to survive without spending in schools. However, the budgets should be balanced. The will be achieved through mitigating the cases to reduce the criminals of the community. It will be a good step because the funds, which would otherwise be ...

The debate as to whether or not to legalize marijuana in America has been heavily documented. Different states have different laws pertaining the vice. The fact that it is used both for medicinal and recreational purposes makes it difficult for the government to ban it. In the past few years, the marijuana debate has constantly featured in legal and legislative controversies. Different states seem to adopt different approaches over the issue. At the moment, marijuana is legalized in more than 20 states, including the District of Columbia. It would be prudent to note that such legalization is restricted to ...

QI: Comparing Opinions of CEOs and the CIO

Technology contributes to improvement in hierarchical, a functional structure. It also can significantly improve internal and external processes of a company. In many situations, the goals and objectives of a commercial organization are different from the ones that Chief Information Officer (CIO) sets for the technical side of the business. The reality shows, however, that the only effective way to build on the sustainable growth of a company is to ensure that collaboration and transparent communication process define the way CIO and Chief Executive Officer (CEO) work together. With that in mind, setting the budget and defining strategic goals ...

Executive Summary

Starbucks is rated as one of the world’s most valuable brands, with global sales exceeding a whopping $17.01 Billion, the company engages in the manufacture and sales of coffee and tea, and operates in multiple segments, globally, that includes, Americas; Europe, Middle East, and Africa; China/Asia Pacific; Channel Development; and Other. The target markets of Starbuck are Adults, Young Adults and Kids and Teens, with a focus on both genders, i.e. male and female. The competitive advantage that Starbucks have against the competition is the status symbol and also the experience that the brand is selling and this ...

National debts are caused by budget deficits that are as a result of spending more than what is received from taxes. This results in harsh economic times for countries as they strive to adjust to the national debts that occur during the period. Several theories have been put in place to argue and relate to the issue concerning national debt. Keynesian economists bring forth arguments that strive to balance the budgets and appropriate times to increase the deficit. Economist John Keynes was against the idea that the state was in need of a balanced budget (Tobin 1975). His argument ...

Threat not addressed

Weakness Opportunity not taken V. Strategy Formulation (Chapters 4-9)

Strategic alternatives

Alternative evaluation Alternative choice VI. Strategic Alternative Implementation (Chapters 10 - 13)

Action items

Action plan Exhibits Presentation Slides Introduction Strategic Profile & Case Analysis Brandi Barnes Upon analyzing of Lockheed Martin’s historical strategic direction it is important to take notice of a few key facts. These facts or assumptions can easily lead to the series of analyses and scenarios depicted. The assumption for Lockheed Martin’s differentiation strategy and primary product choice comes from events during WWI when the U.S. government began focusing on acquiring military aircraft, which boosted industrial growth. ...

Capital budgets are instrumental in determining the merits which a business expects when investing in a project. Capital projects must have capital budget estimates to guide in decision-making based on the merits identified from the business case. When making accounting decisions, managers look at the rate of return on the investment that guides them to understand the viability of the project and its impact on the business (Arya, Glover & Radhakrishnan, 1998). The integration of capital budgets and managerial accounting is such that not all decisions made by the manager will take into account the details captured in the capital ...

Internship Proposal

Introduction I did my internship in an engineering consultation firm in the USA. I was attached to the finance department. The engineering firm is different from other industries because it is involved in searching and giving services instead of dealing with products. The company is also involved in delivering solutions based on the current and occurring problems. While an intern, I was assigned the duty of financial analysis on competitor companies in the USA. Besides, I worked on project budgets for the enterprise. On the various tasks assigned to me, I was able to gain hands-on skills in financial ...

The accounting profession utilizes Christian ethics that are fundamental in worldwide integration and the use of biblical concepts in direct relation to the accounting profession. Integration of the biblical ethical standards guides is similar to some accounting principles that are widely used for the completion of accounting tasks. Chartered accountants can derive morality from a Christian point of view that is guided by biblical research. The aim of this paper is to relate the concepts of management accounting in the accounting field to Christian ethics and the worldwide view. The Bible has numerous ethical annotations and quotes that were ...

The accounting profession utilizes Christian ethics that are fundamental in worldwide integration and the use of biblical concepts in direct relation to the accounting profession. Integration of the biblical ethical standards guides is similar to some accounting principles that are widely used for the completion of accounting tasks. Chartered accountants can derive morality from a Christian point of view that is guided by biblical research. The aim of this paper is to relate the concepts of management accounting in the accounting field to Christian ethics and the worldwide view. The Bible has numerous ethical annotations and quotes that were ...

LITERATURE REVIEW

Introduction Bicycling is one of the most sustainable modes of transport and plays an important role in the transport system. Cycling has a number of benefits that include improving the quality of life, reduction of traffic congestion in cities, positive health outcomes due to the exercises involved, providing a suitable form of transport for short distances and environmental conservation among many other benefits. A number of cities have adopted bicycle master plans as they try to capitalize on the cycling opportunity (Litman et al., 2005). This has meant that bicycle ways are being created and existing roads are being ...

Introduction

This paper explores the costing and pricing methods applicable to firms in the tourism and travel sector using Allegiant Travel Company as an example. Allegiant Travel Company is an American company providing leisure travel products and services to under-served cities in the US. It provides air transport, air transport-related products, travel protection products, hotel rooms and other third party travel products. The paper also analyses the financial statements to assess its financial state.

Costing methods

Several costing methods can be applied in the tourism industry depending on the nature of the assignment and the operations of the organization. Applicable costing methods ...

Abstract

The Census Bureau of the United States is one of the key Federal Agencies that enhance activities of the government. The Census Bureau is mandated to perform different roles, mainly focusing on the collection of information used by development stakeholders including the government to formulate appropriate policies. The data collected by the Census Bureau also provides an overview of the overall development status of the United States. For instance, it depicts overall economic performance of the entire country or particular social challenges experienced by communities across the country. The roles of census bureau agencies have been appreciated by several ...

Chapter 4: Analysis and Findings

Analysis and Findings Given the survey responses, the following is the presentation as well as interpretation of the results regarding the expenditure and cash management services as well as payment methods. The survey results from the 30 respondents are presented in graphs and tables indicating the company’s efficiency regarding the application of strategies and various approaches. That is then used as a guide to where it needs to enhance the management.

Challenges: There are numerous challenges that business faces in cash and expenditure management. In that respect, the company’s challenges can be summarized as follows. The rise ...

Introduction

Beginning the early 1990s, the number of multinational corporations has risen steadily as a result of globalization. This reason has caused organizations to realize the need for international human resource management as a determinant of success. International training and development is a tool that multinational enterprises (MNEs) are using to improve the quality of services that their employees provide. The main aim of training is to improve work skills and behaviors that an organization employee has in the current circumstances. On the other hand development is aimed at increasing working abilities with respect to a future task or job, ...

Question one

The community in the county of Prince William has a total population of 430,959. The county is located in an area of 348 square miles (Citizen Guide, 2016). Moreover, the community has a total labor force of about 230,529 as at November 2013 (Citizen Guide, 2016). In the second quarter of 2013, the community had 117,965 of the employed population. On the other hand, the unemployed growth rate was at 4.4% in November 2013. Lastly, the median income for the household was $ 93,744. Consequently, this community was ranked in the twelfth position among the communities ...

Introduction

Juvenile correctional approaches in the United States centers around the best interest of the child. Young children below the age of 18 fall into the juvenile category. The system offers to purge any criminal record after a stipulated period of time and at the completion of certain terms. The juvenile records remain sealed from public record during this time and are rarely unsealed in spite of exceptional circumstances. Juvenile offenders are first part of a meeting between the State prosecutors to discuss the options of community service for nonviolent crimes. Only in the event of not reaching a conclusive ...

A construction project manager is an individual who oversees a construction project to ensure that the project is completed within a particular duration and within the allocated budget. This is a very significant role in any construction project and can only be achieved by an individual with the following skills: a good planner, time conscious, a good manager of resources, possessing the ability to manage both finances and budgets, excellent communication skills, delegation skills, motivated and knowledgeable in the construction industry . This paper will discuss the plans and strategies that will be applied to ensure that the job is ...

Abstract

Budgeting has always and continues to play a crucial role in business planning. That is given its application is estimation of the future performance parameters. With that, the discussion explains the relation between the profit planning and the budgeting process. For that, budgeting has been identified as the basis of the estimates used not only in profit planning but also in business planning. Also, several benefits have been identified regarding the business planning and budgeting including that they form the key reference for the performance evaluation. Further, the discussion explains the role of a controllers regarding the reporting to ...

Identify different users of accounting information and discuss the varying information needs of these users.

Users of accounting information are both - internal & external to the company in question. Internal users are the primary users of accounting information. They are company managers, employees and proprietors. Managers make use of the accounting information for analysis purpose regarding the company’s output and ranking so that suitable measures could be taken for bettering company performance. Next-in-line internal stakeholders are company employees. Their information needs are different from that of company managers. They use company information for measuring the earnings made by the company and deriving results thereof for relating with their future income and job safety; ...

Introduction

Project management applies techniques, knowledge, skills and expertise as well as experience to a strategic activity in an organization as shown by Bolles and Hubbard (2007). Notably, a project is a unique venture in an organization undertaken to meet its goals such as new products, venturing into new markets or cutting the product costs. Expected, in the new and unique projects, the experience is insufficient or lacking for a disciplined implementation. In other cases, the project takes up a lot of resources and staff due to its size. As such, to meet the scope and requirement while meeting the ...

Various factors influence the basic total compensation design and decision-making in an organization, and this comprises of budgets, wage decisions, incentive plans, and retirement plans.

Budgets

The budgetary process is very crucial in any organization. Budgets are anticipated to conduct three broad functions: Planning Budgeting is necessary for the planning process since it enhances programming. It determines the activities undertaken by all entities in an institution. It deals with resource acquisition and allocation of resources and determines how to pay for services

Controlling and administering

Budgets help organizations to obtain and utilize resources in the appropriate manner. Managers can monitor how resources flow, ...

MANAGEMENT ACCOUNTING – COST CLASSIFICATION, VARIANCE ANALYSIS AND BUDGET PREPARATION

Executive Summary 4 1. Management Accounting, its Importance and Comparison to Financial Accounting 5

Management Accounting versus Financial Accounting 5

2. Different Classifications of Costs (Types, Behaviour, Function and Relevance) with Examples 6 a. Cost Classification by Behaviour 6

Semi-Variable Costs 7 Variable Costs 7 b. Cost Classification by Function 7 c. Cost Classification by Relevance 8 3. Variance Analysis Commonly Derived Variances, Problems and Limitations 9 a. Commonly Derived Variances 9

Material Cost Variance 10

Labour Cost Variance 10 Overhead Variance 10 Controllable Variance 10 b. Problems and Limitations of Variance Analysis 11 4. Different Operational Budgets and their Advantages 11 a. Master Budget 11 b. Operating Budget ...

Public budget and finance

The public budget and finance have six processes that are interrelated; those are budgeting, taxation, tax policy, capital, and debt, money management and financial system (FIU). The study will be applied to two study cases: the Alligator Alley lease and the Hollywood City cash flow. Both cases are at a local level in the state of Florida in the United States of America. First of all, the definition of each process: Budgeting: The budgeting is the process consists on a yearly basis plan where the institution estimates the incomes and outcomes of money according to previous budgets, higher institutions, ...