Certain specialists in the field have agreed upon the two most
important principles that the budget, whether it is a governmental or
corporate one, should follow. One of the two principles consists in the
fact that the budget should be designed as a tool for planning and
monitoring (Andrews, 2007).
Similarities between the Federal Budget and the Corporate One
As mentioned above, the two types of budgets are very distinct in
areas like the development process, budget application, or decision makers
involved. However, there are a series of similarities between the two types
of budgets that cannot be overlooked.
For example, both types of budgets are subjected to modifications, in
case certain unpredicted situations emerge, requiring a new adaptation of
the budget. It is more difficult to modify the federal budget, given the
repercussions this action has and given the fact that federal revenues
cannot be modified in accordance with…… [Read More]
Budget Planning and Controlling
Benefits of a ealistic Budget
A budget is delineated as a written statement of the plans for management for a particular period of time, conveyed in financial terms. A realistic budget will benefit the owner of Babycakes as compared to having no budget at all. One of the benefits is forecasting. A realistic budget will assist the owner of Babycakes in projecting yearly expenses and also helps in perceiving the costs as they take place. A second benefit is setting the right prices. It is imperative to note that aspects such as the prices of rival products are not the only factors taken into consideration when setting the rates, charges and prices of products. For instance, the price of cupcakes set by Babycakes during Valentines should not be solely determined by what other bakeries set their prices to (Drury, 2013; Weygandt et al., 2009).
A third…… [Read More]
Keeping staff medically informed so that they can best deal with the variety of cases seen within the context of an E unit. Within the vulnerable population inside the E are individuals who inappropriate use its services. esearch states that "patients who inappropriately overuse the E has become a national health care priority as E costs per-visit are generally three times higher than a comparable care in an outpatient clinic," (Thompson & Glick 1999, p 1). Studies have shown these individuals to include the mentally ill and "socially vulnerable" population, including the poor, who otherwise have no access to typical health care services without insurance (Thompson & Glick 1999, p 2). Yet, in the modern context, care can be provided in other care locations. A well trained and experienced staff can help filter out those individuals who can provide referrals to more appropriate health settings. With all the new health…… [Read More]
budgeting management was most helpful to me, I believe, in the sense that it actually helped clarify the various processes about which I wrote, providing me greater conceptual awareness of budget management planning, processes, and content. Of the essays I completed, I must admit that I like various parts of all of them, but feel that my third essay was the best. By then I was more confident about what I was writing. Overall, what I learned from writing all three essays, an insight that will, I believe, remain with me long after this course, is that one learns a great deal more about a subject from writing about it.
My third essay was the best-focused of the three, and most detailed and specific. It was the end result of much thinking I had done. My best sentence, within that essay was (I feel): "The top management, working with the…… [Read More]
Are visits to customers scheduled so that sales staff are available to customers at all times in the showroom? Are the full time carpenters sufficient to handle timely output? Would one additional full time person be more financially beneficial than using four on-call contractors?
Income can be categorized as point of sale or accounts receivable. Expenses can be categorized as fixed (insurance, rent, etc.) and variable (supplies, utilities, etc.). Everything that is paid out each month should be included, factoring in for taxes and other items that don't necessarily occur each and every month. Just organizing the data in this fashion may reveal immediate areas of action, like lagging receivables or expenses in a particular category that are out of scope. One of the first steps usually involved is that once everything is laid out in writing, it is time to review the list and decide where to adjust accordingly.…… [Read More]
budget components (Policy Document, Financial Plan, Operating Plan, Communications Device), rank them in order of importance in your opinion and justify your rank order.
ank 1: Policy Document: The Policy Document is synonymous with a Budget Document. The budget document can be a line item detailed listing of every expenditure for every department within the government operation. The document conveys the policies and procedures of the administration and outlines its funding.
The expenditure amount is a further clarification of the entity's commitment to their underlying cultural and operating practices which complement their specific organizational goals and organizational strategies. Organizational strategies in accordance to the Policy Document include the Strategic Planning Document which details how the organization will propel itself into the coming years as a strategic city seeking to attract the best and the brightest to start businesses and to be residents. As the underlying specific goals to the macro…… [Read More]
Functions That udgeting Accounts for Is the Planning Function
We will be arguing for the importance of the planning function in the overall budgeting activity and will be arguing for the many ways the budgeting planning function is coordinating with the company's strategic planning.
First of all, the planning function in terms of budgeting refers to the planning activities that the company, starting with the financial department, needs to (1) determine what the company's long-term strategy is, (2) determine what projects bring most added value to the company and (3) determine what priority these projects should have.
Let's refer to each of these steps in part and determine how they impact the budgeting strategy of a company. The long-term strategy for a company is essential in determining the overall objective of a company. For the long run, this may be increasing the volume of sales or increasing the market share…… [Read More]
BHP Billiton Budget and Financial Planning
BHP Billiton is a global Anglo-Australian company specialized in petroleum, metal and mining. Headquartered in Melbourne, the BHP Billiton is one of the world largest mining company using the 2013 total revenue. The BHP Billiton was established in 2001, and has been ranked as a top performing mining company in the world. At the end of 2015 fiscal year, BHP Billiton recorded $44.6 Billion as the total revenue with the net income of $1.9 Billion. In 2010, the company recorded a net income of $12.7 Billion, and by the end of 2014 fiscal year, the net income increased to $13.8 Billion. However, the company net income drastically declines to $1.9 billion at the end of the 2015 fiscal year. (Annual Report, 2015).
This report carries out a financial and budget planning for the BHP Billiton to enhance a greater understanding on the…… [Read More]
Operating expenses include selling and administrative expense. Ordinarily, a forecast or budget for selling expenses is prepared together with the sales budget or profit target because selling efforts such as promotions, commissions and salaries of the sales staff are directly related to sales. Selling expenses may either be variable or fixed. Administrative expenses include projected administrative costs for other than production or selling activities. These expenses are mostly composed of fixed costs such as research and development, insurance payments and government taxes.
3. Calculate expected profits
Profit is the excess of revenue over total costs and expenses incurred in generating such revenue during the period of operation. Profit can be expressed in the mathematical equation:
Profit = Sales - Total Costs and Expenses]
Costs having been considered, the budgeted profit plan may now be established. Injecting the concept of 'revenue less expenses equals profit,' the profit may be calculated as…… [Read More]
..ERP combines them all together into a single, integrated software program that runs of a single database so that the various departments can more easily share information and communicate with each other." (Pang, 2001) the work of Les Pang (2001) entitled: "Manager's Guide to Enterprise Resource Planning (ERP) Systems" published in the Information Systems Control Journal informs this study that over the past ten years an organizations have significantly experienced "changes in their core business applications. These applications have moved from a centralized mainframe platform towards distributed client-server architecture, changed from monolithic customized software systems to commercial off-the-shelf (COTS) system modules with graphical development tools and expanded from a local area network environment to one with the broad reach of the World Wide Web. usiness applications have changed to support the globalization of their organization with the addition of multisite and multicurrency functionalities." (Pang, 2001)
The desire of a great…… [Read More]
Sometimes state politics plays a major role and it shapes the outcomes of the legislative action in completely different ways. For example, the Texas Enterprise Fund was created in 2003. The main reason for its implementation of the fund was to attract new companies to Texas. However, the main point of debate here was that this fund was approved, when drastic budget cuts for state programs were being implemented (due to the economic recession). Where, this fund was contending for revenues that could have been allocated to: healthcare and insurance programs for the low-income families. In this case, state politics was a major factor in the creation of this fund. ("Texas Politics - Political Economy," 2010)
Another element that is sometimes associated with legislative action is "Pork" spending amendments. Simply put, this kind of spending is when various politicians will allocate funds, out of the budget for special projects in…… [Read More]
Decreasing purchases of the items that regularly expire, assuming that such a decrease does not dramatically increase the per-unit cost of each of these items, would definitely present a cost savings to the organization. The other major costs that the organization has some (though not total) control over are the lost balls and the cost of trainers; it is likely that a move to hiring permanent trainers would be more cost-effective than hiring them on an as-needed basis, but more regular participation levels will need to be established for this to be effective. Likewise, it is possible for the organization to reduce lost equipment costs by erecting a temporary barrier to contain wildly hit balls, but the cost of the barrier would need to be fairly low and its durability fairly high to justify this.
6)a. Sales price variance = (25x40000) -- (25x39200) = 20000
Sales volume variance = (20x40000)…… [Read More]
This budget is a static budget. The variable components are based on the number of students, and in this budget the amount of students is assumed to be fixed throughout the year. The budget does include three different student levels, but this reflects sensitivity analysis, not a flexible budget that changes over the course of the year. To make the budget flexible, the school would need to make changes to the different elements of the budget as the school year progresses. That is entirely possible the way this budget is structured, but the possibility of converting it to a flexible budget does not make it a flexible budget.
The total revenue per student excluding grants is taken by adding up the non-grant revenues per student: $6,063.06
The total expenses per student depends on how many students. At the 120 student assumption, total expense per student are $4,518; at the…… [Read More]
Criminal justice agencies rarely use a program budget, although this format does offer some advantages. This budget places a strong emphasis on different programs' social utility and strives to define the relationship between policy objectives, programs, and specific expenditures (such as citing the amount of money allocated to DUI prevention and arrests for the offense). It justifies and explains budget areas to provide accountability for objectives, and enables employees and politicians alike to understand department objectives. However, it can be expensive to implement.
PPBS (planning- programming- budgeting systems) and zero-based budgeting formats were used by several states during the 1970s as well as private industries, although these formats are rarely used by cities and have since fallen out of favor. There are three basic budget processes -- planning, management, and control. PPBS and zero-based budgeting strives to define all of these elements, every year, as part of the budgetary development…… [Read More]
Planning Proposal on "Feasibility of developing an intranet"
To whom it May Concern:
Re: "Feasibility of developing an intranet" (Planning Proposal)
Our company is an internationally-based company that is extremely spread out geographically, and even on an internal level, in its architectural structure. Managers often wish to communicate efficiently and confidentially amongst themselves regarding the performance of other members of the staff. However, at present, this is difficult to accomplish. Of course the company could build a new physical structure to accommodate needs for better face-to-face connectivity amongst individuals, but another and less expensive potential solution exists, that of the development of an in-house intranet, or online connectivity structure.
Why an intranet? Why not simply make use of the World Wide Web, given currently existing corporate computer structures allow for such connections? The establishment of an intranet would automatically give an additional level of secrecy and protection from…… [Read More]
Budgeting is not only useful for a business organization but it is also useful for personal planning and spending. The existence of a well structured budget within an organization or a personal budget tells how well a person or the business is organized. From a business perspective regardless of the type and size a budget is an important recipe for success and smooth running of the business.
According to Burrows and Syme (2000) depending on the size, a business can have various types of budget that include; the sales budget, the production budget, the general administrative budget, cash budget and the master budget. It is important to note that the master budget encompasses all the other different types of budget into one and through the master budget a business can plan its expenses in advance and also can use it to obtain additional finances. This present study will further discuss…… [Read More]
The grade that I would like to earn in this course is an A. The reason I set this goal is simply that if I aim for an A, I will put forth my best effort. The objective may or may not be reachable, but in my case there is no downside to trying for an A, no real tradeoff that I need to consider. Failing to achieve the goal will still result in a B. So some of the rules with regards to organizational goal-setting do not apply here.
In order to achieve an A in this course, there are several steps that I will need to take. The first step is to create a plan that outlines the steps I feel will earn me an A. I can create these steps based on past experiences of my own academic successes, and the advice of others who…… [Read More]
Beyond budgeting, two words that some believe hold the future to a company's financial strength and profitability. No longer is it necessary to implement a plan, make and sell business model. Instead, in today's current business environment it is much simpler to organizations to go beyond the traditional budgeting organization to one that goes beyond that budgeting process by providing the opportunity to respond much faster to the demands of a fickle consumer.
One report determines that the old business model involves protracted time and energy in a budgeting process that assumes "that customers will buy what the company decides to make" (Hope, Fraser, 2000, p. 31) but the report goes on to make the assertion that companies run a huge risk when they make assumptions that "are no longer valid in an age when customers can switch loyalties at the click of a mouse" (p. 31). What Hope…… [Read More]
One cannot anticipate every possible bad -- or good -- scenario. Yet as cataclysmic as 9/11 proved, the recession that followed did not come from one cause -- planning and examination provided earlier hints of a slow down. One could argue that the overconfidence that the market could only go up during the heady days of the 90's tech boom, and the refusal to consider other possibilities not only contributed to 9/11's impact but sowed the seeds for recession just as much as the unexpected. Thus planning is still key, and planning if done efficiently can still be part of a speedy implementing strategy. One must always first look at what's important to a company and decide where the company needs to go. A company must identify business needs before deciding what the practices will be to satisfy those needs, and develop and implement an effective active plan only after…… [Read More]
S. Government to make future or immediate monetary outlays. In the second subcomponent, the reporting and outlay phase lasts for the duration until the funds are canceled or until the funds are totally disbursed. One should note that these cancellations are in no way connected with cancellations that are connected with budget reductions. These are a separate congressional activity (ibid).
Sometimes spending adjustments are needed during the fiscal year. They may require special reporting and approval procedures by both Congress and OMB. In some instances, an agency can request supplemental funding by submitting a request to the Congress. Mostly, the departments and agencies are required to manage their funds according to their available resources and have only a limited monitoring by the OMB and the Congress during this particular phase of the budget process (Government Printing Office, 29-30).
hat is the effect of this system in theory as well as…… [Read More]
" (Huang & Chen, 1) This characterization of using the budgetary process to play 'games' carries with it a negative connotation, which is driven by the inherently threatening implications of tying personal income to performance evaluation.
That said, budgetary clarity is among the most important features to creating and implementing an effective plan of operation in any context. This is to argue that there is never an excuse for a failure to properly budget. This is a primary purpose of accounting, which allows an organization to identify those resources and conditions at its disposal and to determine how these can be used to yield functional operation, sustainability and profitability. Though the numbers which are yielded from a projected budget cannot be used as restraints with respect to operational creativity or mutability, these should at least help to establish a plan of action; anticipate certain milestones in the execution of the…… [Read More]
Planning & Marketing Conferences & Workshops
The importance of planning
Getting feedback from others
Administering a workshop or conference
The details of work that can be done in conferences
Preparing for a conference
Facilities available at conferences
At the outset of this exercise, we must start by defining planning and this has been defined as a proactive decision making within an organization. The importance of planning and marketing can start an ongoing process that helps an organization to design the services to meet the needs of the customer. This helps in removal of the traditional focus on internal operations and to the expectations of the customer and convenience. There have also been suggestions from experts like Weygand in 1995 that marketing audit should be an ongoing process in every organization to find out the trends and changes that are taking place in the market. (Planning and Marketing) Nowadays the promotion…… [Read More]
Planning the Needs of Other Organizations
Identify three critical success factors that Benefast Partners should consider for its HIS system.
Three critical success factors that Benefast Partners should consider as a part of their HIS system, these include that of having multiple partners, having a retirement plan for all employees and to have more of a Web interface available (Kavanagh & Thite, 2009, p. 98). When all of these are in place, the organization will run smoother, and have the capabilities of meeting the needs of those that are employees and customers better on a regular basis. Without considering these possibilities, the company will continue to lose money, and people will not have a retirement plan if one should go that route in the future. In essence, he or she would have to continue to work in order to save up the money, instead of having a 401(k) available to…… [Read More]
Likewise, bid packages are documents that need to be as lucid and frank as possible. "Bid packages can be used in a number of industries, including business, it systems and telecommunications. But the most common industry where bid packages are used is construction. Basically, a bid package is a portfolio of all the documents needed to take part in an invitation bid. Those who will be bidding on the project can look at the bid package and determine if they fit the criteria. Bidders will need to meet the skills and qualifications listed, be able to complete the project on time and stay within the specified budget" (Tiffany, 2012). Such documentation can help all stakeholders in a given project have a clear understanding of what is requested, required and needed. All these facts are specified within the given context of the project scope and the timeline engaged.
In the simplest…… [Read More]
Municipal Budget Analysis
The objective of this work in writing is to assess the budget of the Municipality of Chicago, Illinois in terms of how well budget documents and auxiliary information address each of these functions. The assessment will be substantiated with examples and information from documents studied. This work will examine a variety of sources including the most recent approved budget of Chicago, Illinois.
The City of Chicago 2011 budget includes provisions of no property tax increases and no new tax, fee, or fine increases to balance the budget. This is to effect that there will be no additional budget to residents already impacted by the recession. Secondly, included is the preservation of $576 million in asset lease funds to protect Chicago's future, which is inclusive of maintaining the entire $500 million Skyway long-term reserve. Third stated is the maintenance of the commitment to provide critical services to Chicago…… [Read More]
Flexible Budgeting at Procter and Gamble
Managerial accounting class. Examine the budgeting process at a company. (use a us fortune 500 company) identify strengths and weaknesses of the company's Budgeting process.
Flexible Budgeting at Procter and Gamble
Budgeting process at Procter and Gamble
Procter and gamble uses a tailored budgeting process that is flexible to the ever changing realities in the business world. The budgeting process is preferred to using an outdated standard budgeting process that is stringent to the needs of the observable dynamism in the world of business. The budgeting process involves flexible roll out of forecasts that are adoptive to time dependent events in the market (Blocher, Stout, Cokins, & Chen, 2008).
ealistic long-term goals are used to achieve sustainable growth. Depending on the overall contribution of a business, different targets are made on the full budget portfolio. esearch and development and innovations in the plans and…… [Read More]
"Failure of any district to budget funds to meet statutory requirements is a very serious matter and will result in the executive county superintendent rejection of the budget. The district will be advised of any lack of budget approval with specific recommendations on necessary corrective revisions." (New Jersey Department of Education 2013, P 14).
3. Key Budget Terminology
There are numerous terminologies with regard to the school district budget. The most important budget terminologies are
The revenue is the money received by the school district within an accounting year. A fund is part of the revenue and there are four sources of revenue for the school district and this include:
Intermediate source, state, and Federal sources.
Expenditures are the expenses that the school district must fulfill within an accounting year. Part of the school district expenditures are the payment of teachers' salary, and travel expenses for…… [Read More]
Salaries and benefits are cost drivers. If there is enough revenue to cover these things then one is in good shape, but if there is not then major problems will occur. There are a lot of hidden costs that are associated with not only maintaining but adding to current staff positions. Hiring new staff involves training and support in addition to salaries and benefits; advertising new positions; along with evaluating the need for additional office space, furniture, equipment, and supplies. You also need to consider that an expanded staff requires additional time for staff meetings, supervision, and coordination. Making sure that your institution has staff is a vital aspect of doing business which makes the budgeting for this staff such an important component of any budget plan.
Schmidtlein, Frank A. (2001). Why Linking Budgets to Plans Has Proved Difficult in Higher
Education. In ASHE, Finance in Higher Education (pp.415-424).…… [Read More]
However, the effects of the winter improved sales figures for home improvement companies that sell shovels, rock salt, and snow-blowers. A retail company must anticipate sales orders and profits based on data from past years, but the organization may be faced with a warm winter after stocking the shelves with mittens or be faced with unexpectedly high sales figures if it unexpectedly manufactures the 'hot toy' of the upcoming Christmas season. Flexible budgeting takes into consideration such circumstances.
While flexible budgeting can offer a more realistic portrayal of how an organization functions, it can also be problematic in the manner it offers opportunities for 'creative accounting.' The organization must make a good-faith effort to present an accurate portrait of market circumstances for all stakeholders, and not use the option of flexibility to make a more optimistic portrayal of the company's relative financial health. This is why an ethical code…… [Read More]
Special Education Budget Analysis
Special education directors/leaders must sufficiently understand the budgeting process in order to be able to explain why specific numbers have been entered in a budget. To gain some additional understanding in this area, this paper reviews the relevant literature to examine specific line items to determine the theories, legislations, and/or laws that require special educational directors/leaders to spend a certain amount of money. A discussion concerning the discussing the research-based reasoning behind selected line items of a school district budget is followed by an evaluation of those line items that are not aligned with research-based reasoning. Finally, a discussion concerning what can be done to align the items with research and legislation that meets the federal mandates for fiscal management is followed by a summary of the research and important findings concerning the special education budget process in the conclusion.
eview and Analysis
A summary of…… [Read More]
City of Park idge, Illinois: Budget Analysis
The budget for Park City, Illinois is complete with a table of contents, which identifies all pages by page number, and the page numbers are correct according to the table of contents. Included in the budget for Park idge, Illinois are the city's non-financial policy goals as well as these being stated in the Budget Message separate from departmental sections. Other planning processes are discussed addressing both short-term factors affecting the budgeting decisions and relating how these short-term factors affected the development of the city's annual budget. Included in the budget is information that sets out the city's priorities and goals for the year including issues facing the city's budget development along with the city's solution for addressing these issues. The present budget is compared to previous years. Included in the budget is an overview of the budget with summary information clearly labeled…… [Read More]
egulatory requirements and their impact on the design and equipment for Better Bank.
A new facility being designed, built, with a grand opening next spring/summer 2012.
egulatory requirements impact for facility planning work to protect the builder or property owner. With most contracts the owner has the least amount of protection. egulatory requirements often help provide some modicum of protection for the owner. As in the case of the American Institute for Architects for example, contract terms should clearly define the obligations, rights, and consideration or benefits for all parties involved (. That includes the builder, architect and owner of the facility. The contract is a tool that can be used to provide evidence of the agreement terms in case there is a problem disputing any conflict. Often most facilities planning comes from business arrangements that are amicably achieved among parties. However in times of confrontation regulations help…… [Read More]
If a startup is being planned, the strengths and weaknesses are related mainly to the promoter(s) - their experience, expertise and management abilities - rather than to the project. The objective is to build up a picture of the outstanding good and bad points, achievements and failures and other critical features within the company.
Threats & Opportunities
The external threats and opportunities confronting a company, can exist or develop in the following areas:
The company's own industry where structural changes may be occurring
(Size and segmentation; growth patterns and maturity; established patterns and relationships, emergence/contraction of niches; international dimensions; relative attractiveness of segments)
The marketplace which may be altering due to economic or social factors (Customers; distribution channels; economic factors, social/demographic issues; political & environmental factors)
Competition which may be creating new threats or opportunities
(Identities, performances, market shares, likely plans, aggressiveness, strengths & weaknesses)
New technologies which may be…… [Read More]
budgeting an adequate tool for planning and control in organizations and when should alternative approaches be considered? Is budgeting obsolete in the 21st century?
Starting with the last question first, although budgeting does seem to have its problems with it, and although it fails to produce results, nonetheless studies find that the majority of managers still turn to budgeting as means of conducting their business unable to surrender the system.
Criticisms against budgeting includes the following: (a) that they are too time-consuming; (b) that they are slow to detect problems; (c) that they are not reliable for performance management; (d) they are rapidly outdated; (e) the process lacks rigor; and (f) it disrupts cooperation.
Assessing, however, whether these factors persuade 21st managers to adopt replacement schemes, Libby and Lindsay (2007) discovered that more than 50% of the 212 Institute of management Accountants (IMA) members whom they surveyed in 2006 affirmed…… [Read More]
How many work weeks are in the project timeline, where work will actually occur?
The project timeline runs from 1 January 2017 to 31 March 2018. This implies that there are 65 weeks in total within this period. However, taking into consideration that there are three weeks for vacation, the number of weeks in the project timeline where work will actually occur is 62 weeks.
How much money does the team cost per hour?
There are 10 managers. The manager salary for an hour is $100. Therefore, the cost for managers per hour is $100 x 10 = $1,000.
There are 100 programmers and staff. Their rate per hour is $35 per hour. Therefore, the cost for programmers and staff is $35 x 100 = $3,500.
This implies that the team costs $4,500 per hour.
How much money does the team cost per week?
Every week contains forty working hours.…… [Read More]
Sony Flexible Budget Analysis
Sony is a company that has long dominated the electronics market. However, in recent years, it has seemed to loose its primary grip over the market. Still, examining the financials of 2013, one can see that there have been new advancements in growth, especially in regards to net income, operating income, and financial and mobile sales revenues.
After several years of disappointing sales, Sony has seen some recent growth streams. Sales and operating revenue is up from the past two years by 4.7% (Sony, 2013). Additionally, net income is also up since 2012. There have also been increases in the sales of financial services and mobile devices over the past year (Sony, 2013). This has helped increase the overall operating revenue and net income overall, which was desperately needed by Sony after several years of the company loosing its grip on the marketplace. Numbers…… [Read More]
Project Budget and Control
Preparing a Budget
Top-down budgeting is business-planning system whereby the budgeting process begins with information flowing from the very top of the organization down to the departmental or divisional levels within the organization. The top down approach could be used in a large organization that deals with a project they have done before. The reason behind using this approach would be the fact that this is a big project. Therefore, an overall estimate would be made of task that are higher in level and then those estimates of higher-level tasks are then used in setting limits of the costs of lower level tasks. The advantage of using this method is the fact that there will be no need of relying on low-level managers to come up with information on budgeting. Therefore, the business will allow lower level managers focus on their specific departments and hence do…… [Read More]
Encourage more school districts to implement school breakfast programs by providing a 50% increase in the state's reimbursement rate for school breakfasts. (WG, 2006)
The California budget includes $400 million to implement a broad strategy to ensure that California is ready for public health emergencies and is properly equipped to handle them. This funding will enable the state to increase patient care capacity (also known as "surge capacity") to achieve the levels recommended by the federal Centers for Disease Control and Prevention (CDC) and the Health esources and Services Administration (HSA). In the past, California has responded to "moderate" local or regional public health emergencies, such as a fire, flood, explosion, or earthquake, with up to 10,000 casualties over a limited period. Measured against federal HSA benchmarks, California needs to increase response capacity in some areas. Emergency planning experts agree that the most critical element in preparing for surge needs…… [Read More]
budgets of any major size will get most, but not necessarily all, of their money from taxpayers of several many sorts but the main goal of the agencies regardless of size and structure is to provide basic and needed services to the area they serve, whatever and wherever that may be.
While all budgets are quite similar in one form or another, they are all different in their own ways and this can include the aim(s) of the money to be spent, where the money will come from and the overall fiscal policy exercised within the budget including investment, tax rates and savings strategies.
Basic Description of each budget
Differences and similarities of each budget
Sources of evenues of each budget
Change of revenue accounts in the future
e. Budget's fit with mission of the domain
f. How to improve budget and/or revenue estimation for each budget
Budget Comparison…… [Read More]
In this regard, Garner adds that, "A safety-smart leader realizes that while a $10 flashlight purchased in bulk at the local discount store may put out enough light to read a driver's license, a 20,000 candlepower light that sets the department back $90, may make all the difference in the world when the officer holding it faces an armed offender one dark night. Little things like that are not lost on the troops" (p. 92). In fact, as to budget priorities, Garner (1998) suggests that officer training and safety considerations should be at the very top of the police manager's list: "A competent police manager encourages and demands an organizational environment where safety is valued, taught and practiced. He mandates that supervisors and managers role model, inspect, reward and correct for safety. He assures that the very best safety training and equipment is made available to his personnel" (p. 92).…… [Read More]
"Put it on paper," Cintron advises, and adds, "The first step to creating a budget is simple: put down on paper what you are spending your money on. That sounds easy, but it takes discipline and honesty -- in other words, do not omit anything, no matter how small" (76). In fact, many of the clients who seek out Cintron's advice simply guess at how much money they are spending each month without ever committing a single item to paper. By listing all expenses, though, even the trivial ones, people can make a decision concerning how important these expenditures are to their lifestyles and eliminate those that can add up without people realizing it. For example, Cintron also notes that, "Cut unnecessary expenses. Once you see [what you are spending] in black and white, you can figure out what you can cut. I call it going on a money diet"…… [Read More]
Hurricane Katrina and the Plan Efforts to educe elated Disaster Impacts in Future
The hurricane Katrina is one of the deadliest hurricanes to occur in the United States. The hurricane hit Louisiana, Florida, and New Orleans amongst other places. It led to losses, evacuation of people, loss of lives and many businesses came to stand still. New Orleans had flood preparedness systems, which did not help, and floods persisted for weeks. The tragedy was contributed to by the lack of risk preparedness systems. Scientists have estimated lower storm surges and small coverage of wetlands in the 20th century. The winds, surges, and wetlands help to weaken the powerful winds. The areas are still vulnerable to hurricanes and storms in the future due to the geographic location. New Orleans city is also sinking geologically rapidly. Lessons learned from the hurricane Katrina should be used for disaster preparedness.
Federal…… [Read More]
Company is a corporate development, management, Information Communications Technology (ICT), and support consultancy firm, offering its clients solutions to confidently research, survey, set up, and profit from business, as well as other opportunities. The firm aids civil society, public, and private clients in developing required relationships, advances in bonds and securing the required support services and systems in a cost-effective manner, in order to run optimally and accomplish their specified goals. Our objective is providing our clients with essential professional services, to be utilized as a springboard for instituting their business, as well as offering them and others the flexibility of operating without an office; that is, they can simply avail themselves of our Virtual Office Service as a start. X Company's strengths include:
Human esource: Our Company is constituted of a esourceful Managers' team, with highly- qualified members having strong preference for knowledge generation, dissemination and utilization. As knowledge…… [Read More]
Alarm Fatigue esolution
Project Timeline from Implementation to Evaluation
Alarm fatigue resolution project is a critical project in the health care department and needs cautious implementation with minimal or no disruption of the daily activities in the care of patients. The approximate period for the implementation of this project and an evaluation thereafter will be three months. Four sequential processes will characterize project within the three months as follows:
Stage 1: Planning, ordering and putting up the implementation material and gathering the project implementation team (both technical and supportive) -- This will be done in the first three weeks. It is the first phase of this project and is vital for the realization of the entire implementation. Planning and gathering the project team together will allow sufficient time for consultation and discussion for this project and the way the implementation will continue as planned (Huber, 2010).
Stage 2: Identification of…… [Read More]
Advertising and Sales Strategy for Travel Agent Franchise
Before embarking on any business opportunity it is necessary to consider the viability of the business, including the way that the new venture may be marketed and the products sold. If a new business is a franchise, then it may be argued some aspects of the have already been developed and proof of concept exists. If a franchise has been chosen, for example Cruise Planners; An American Express epresentative, the potential franchise will still need to consider the way in which the business will be advertised and sales made. This franchise opportunity has been chosen as it requires a low initial investment.
The first consideration is the advertising plan, looking to assess what types of media may be used, and the best way of optimizing the budget available.
The budget for advertising is typically between 3% and 5% of…… [Read More]
Nursing Case Study
Jane lives a very difficult life when it comes to the everyday implications that she has to deal with. Taking care of one child at a young age is difficult enough; taking care of six by the age of 26, seems to be nearly impossible. It is not surprising to hear that having six children that range from eight months old to nine years old, can become something that not only takes a toll on the soul, but also takes a toll on the physique and health. No matter how someone may seem to someone else, as is the case with Jane and her husband, if Jane does not feel comfortable with herself, and she does not see herself as being productive in society, or even in her own life, it can turn into a downfall situation in something that needs to be resolved at its source.…… [Read More]
Management accountability to stakeholders first requires consideration of who those stakeholders are. When considering financial accountability, the primary defined stakeholders for annual reports are the shareholders or owners of the firm (Elliott and Elliott, 2013). Therefore, this establishes the need for management accountability towards this group of stakeholders, the process which is satisfied not only for annual accounts, but also from quarterly earnings as well as other statements. However, there are other stakeholders which will have a direct impact on the firm, and either directly or indirectly influence their performance. This includes, but is not limited to, government, customers, and suppliers.
Government accountability requires a firm to demonstrate for compliance with regulation, and where governments are not fully satisfied that firms are acting in an appropriate manner, they are likely to introduce more legislation. Customers will have needs regarding the products and services they purchase, this will not only be…… [Read More]
Budget Management Analysis
So much connected to the process of budgeting is difficult. It can be difficult to draft a budget which is accurate and which connects to all project needs. Moreover, it can be quite challenging to stay within the guidelines of a budget. However, organizations and projects must be held to that regardless for their present and future success, not to mention their own level of sustainability.
Thus, whenever finance teams draft budgets, there still need to be people on the accounting team who are specifically there just to enforce the budget and to ensure that all members of the team are able to follow the guidelines set forth. Even with these specific professionals involved with the project, there is still a need to engage in concerted steps to ensure that the project remains on budget. Specific measures need to be taken by the accounting and finance team…… [Read More]
Budget eport/Justification for Elite Property Management Headquarters
The Elite Property Management (EPM) has its headquarters along the Mass Avenue at the Penthouse premises. This is an extensive building that houses the headquarters and the entire staff that deals not only in the operations of the organization from this point but also has offices for the satellite branches that the organization has to make coordination of work easier. Adjacent to the headquarters are also three stores that the firm rents to help in central storage of property of the organization.
The total cost of renting these premises was pegged at $1,395,000 with the majority share going to the main building that holds the offices, $495,000. The two massive stores were allocated $450,000 respectively.
The space that cost the $495,000 for the year will help give 150 employees working spaces and the extra space that would be used for conference halls and…… [Read More]
Budget Plan for $10 Million Fund Allocation
Positive economic development in any city in the United tates relies on the provision of effective, efficient, and strong infrastructures that will attract investment to generate job opportunities in the city. A central goal of any city is also to improve health outcomes for the residents to improve their health outcomes. City public officials should also provide safety and securities, and improve students achievements to enhance quality of human developments . However, a city officials are required to keep proper accounts of all income and expenditures to deliver high quality financial resources.
As a newly elected public official of the city of between 50,000 and 250,000 population, our goal is to attract investment opportunities in the city through effective use of budgetary control to meet the economic and health needs of the residents in order to enjoy 100% federal funds. Our goal is…… [Read More]
Budgets and Budgetary Control: Benefits and Limitations
Budgeting is a basic feature of business that is used by any business or company in order to set up a company's future endeavors by engaging in financial planning. These budgets are prepared for main areas of any business including: purchases, sales, production, labor, debtors, creditors, and cash (Penning, 2009, p.363). Further, these budgets provide detailed plans of a business and its planned endeavors for foreseeable future, often planning for the next three, six, or twelve months. As any successful business cannot hope to remain so without a solid financial leg to stand on, the topic of budgets and budgetary control is simply one that cannot be avoided in the business world, and as such, many key areas and factors of budgeting and budgetary control must be understood in order to achieve success.
Key Areas and Factors of Successful Budgeting and…… [Read More]
The reason for this shortfall, as noted by the Balance Budget website, emanates from pension costs, previously agreed to cost of living pay increases, rising health care costs overall and a general weakness in the overall economic recovery that has ensued, albeit very slowly, since the end of the so-called "Great ecession" period that ended in approximately 2009 for the nation as a whole. The balance budget website notes that the shortfall in question is equivalent to 20% of the total police officer salary budget, 60% of the total firefighter budget and over 100% of the city's expenses for their libraries and parks (L.A. Budget Challenge, 2013).
Los Angeles Mayor Antonio Villaraigosa, in this budget summary document, notes that budget shortfalls will be addressed through expenditure cuts and increase efficiency. He makes mention of "painful" layoffs but not addressing the real problem of employee-level costs per person being the issue…… [Read More]
Cash budget and target cash balance
The target cash balance is defined as the ideal cash amount a company intends to hold in its reserve at a given time. This figure seeks to strike a balance between the balance sheet costs of extremely little and too much cash. While a company with surplus cash at hand may misuse on investment opportunities, a company with poor cash will often be forced to make undesirable transactions to create more operating capital (Besley & Brigham, 2011). Individual investors are advised to set their target balance too. They may estimate at least the percentage of their holdings in cash to avoid such pitfalls.
Cash budget refers to the operating budgets and capital expenditures. It begins with the initial cash balances then cash inflows are added to the available cash. Cash outflows will then be subtracted to obtain the cash balance. If the cash balance…… [Read More]
Operational Plan and Correlating Budget
The 4 West is an organization that delivers health care for the community. ecently, the organization has decided to replace the existing medical-surgical unit into a new acute care oncology unit. The oncology is a specialty in medicine that deals with cancer. The CNO (Chief Nursing Officer) has informed the nurse director that 4 west is to become a specialized oncology unit. Since the hospital is planning the transition from the medical-surgical unit to the oncology unit, the hospital will need a new operational plan and correlating budget to assist the hospital to deliver high quality healthcare at lower costs.
Objective of this project is to develop an operational plan and correlating budget for the hospital to assist in effective transition from the medical-surgical unit to the oncology unit,
Project Details and Data
To start the budget plan, it is critical to use…… [Read More]
Risk Sales Forecast
Budgeting, Sales Forecasts, and Ethical Consideration
Sales forecasts and the budget preparation process in general, serves as a cornerstone for effective operations management. hen this practice is performed with strict adherence to good business ethics it is one of the key components of the entire business planning process. ith reliable estimates the organization can plan appropriates. Financial planning and estimation includes forecasted sales and revenues, expenses, and required cash flow to operate the business.
The budget will then combine all of the different estimates into a comprehensive document that can be used to plan for the future and to make business decision. The first activity in the budgeting process is usually a sales forecast. Once an organization determines what their projected levels of sales will be for any period, they can then estimate the other expenses based on this forecast. Accuracy of the sales forecast therefore is…… [Read More]
The traditional role of budgeting combines the need for planning and the development of a framework which can be used for control. This is achieved through the gathering of figures for the expected or desired revenue generation and the expected or desired outgoings associated with the generation of that revenue (de Waal et al., 2011). Two major forms of budget exist for commercial organizations; capital budgeting and operating budgets, the former deals with large long-term projects and investment, whereas operating budgets deal with the everyday operations of the firm or department (Horngren et al., 2010). It is usual for budgets to be prepared in advance of the period in which they will be applied, gathering the relevant information in order to create a budget. The most effective and potentially accurate budgets are those which have accurate input information, which often means consulting with relevant managers involved in the…… [Read More]
Program planning (Drafting purchase requirements and specifications)
- Evaluation of RPQs and RFPs
Contract management (monitoring & control)
Exhibit I- Consumption-based purchase planning
This paper has three main parts. Part one describes the process of purchase planning and the method through which medium and large organizations conduct purchase planning. Part two of the paper analyzes the main purposes of a procurement plan. The main purpose of a procurement plan is to integrate the procurement activities with the business and strategic level goals of the firm. It also enhances the competitive cost positioning of the firm and increases the level of coordination between different stakeholders in the supply chain of the firm. Part three of the paper analyzes three main components of a procurement plan. The last part of this paper presents the conclusion and recommendations aimed at improving the performance of procurement management.
usinesses engage in planning…… [Read More]
A static budget is defined as a budget that is "planned ahead of time based on the owner's best guess about future actual activity." This type of budget is therefore put together for the upcoming time period, and is often based on the data from past time periods, plus or minus different adjustments that management thinks will be necessary. In contrast, a flexible budget is one where the business management can make changes in the midst of an accounting period. Flexible budgeting allows for management to make better decisions on the fly, because the information used in those decisions is kept more up-to-date. Static budgeting relies only on the ability of management to analyze the numbers after the period in order to determine the magnitude and direction of variance, along with the causes of variance. For a flexible budget, management can identify issues with the budget right away, and…… [Read More]
Wedding Market Planning
Developing a market plan and strategy for weddings is a challenging endeavor, primarily because it is a highly-differentiated industry that interestingly requires the planner to establish linkages to different kinds of industries. While it is highly specialized as a business, the business owner or planner must be savvy enough to know other businesses as well to remain competitive in the wedding planning business. Market planning and strategy in the wedding industry requires the individual to have an almost innate talent and skill for identifying the specifics and details required to plan and realize a wedding. Thus, for the business owner / entrepreneur / wedding planner, s/he must be both a generalist and a specialist: generalist, because s/he must be able to envision and visualize the overall result of the wedding plan, and specialist, because s/he must be a master of details and linking these details together to…… [Read More]
PetCo Workforce Planning
Workforce planning at Pet-Co
The Importance of Workforce Planning
Linking the Needs of Staffing With Workforce Planning
The Importance of Workforce Planning At Pet-Co
General information about Pet-Co
The Business Model Analysis of Pet-Co
The Pet-Co strategy
Company Profile in a Nutshell
The Workforce Planning Model
Setting the Strategic Direction
Conducting a Workforce Analysis
The Demand Side of WorkForce Planning
The supply side of workforce planning
Workforce Demand Forecast
Workforce Supple Forecast
Conducting Gap Analysis
Monitoring, Evaluation and evision
Functional Considerations of Workforce Planning
The Application of Workforce Planning Model at Pet-Co
Organizations today are formed on an on-going assumption, which emphasizes that a particular organization is formed with an aim to operate forever. Hence the organizations are well versed with the tactics and strategies that will facilitate their way to function profitably in the long run. In…… [Read More]