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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…
Burrows G, and Syme B, (2000) Zero-base Budgeting: Origins and Pioneers: ABACUS, pp 226-241
Edwards J. And Mellet H, (1991) Accountancy for banking students; Lombard Street, London pp 443-454
Jordan M, and Harbart M, (2005) the goals and implementation success of state performance-based budgeting, Journal of public budgeting accounting and financial management, pp 471-487
Krajewski, L.J., and Ritzman, L, P, (2003) Operations Management: Strategy and Analysis. Addison-Wesley Publishing, pp 67
However, when you look at the overall graduation rates of the district in comparison with the state average, one could effectively argue that these programs were failures by not keeping the district in line with the state number.
There are number of different programs that are restricted from being adjusted these would include funds that would fall under the categories of: other special education funds, internally restricted funds and externally restricted funds. Some examples of the different educational programs that are subject to such restrictions would include: the Parent Teacher Coordinator, special education support staff and the Safe School Initiative just to name a few. The reason why some programs are under such restrictions is the funds could be ear marked for a particular program or may be necessary to be in compliance with the law (such as a cutting of funds to special education could result in the district…
Fiscal Year 2010 Budget. (2010). Retrieved April 21, 2010 from NYC Department of Education website:
FY 10 School Budget Overview. (2010). Retrieved April 21, 2010 from NYC Department of Education website:
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…
Due to Ford's international presence, this database needed to be accessible remotely, and so the database was created to have remote access from any browser in Ford's locations in 120 countries. Utilizing this technology is a fundamental piece of Ford's mission, therefore it was important to make sure that technology used would be accessible and easily manageable by its employees. Since the technology used is simple enough to be used on a regular browser, there is little in depth technology training needed by the majority of employees who would be using and accessing the system. This helps reduce training costs as well as ensures practical usage within the company. Since Ford's financial position has taken a tumble from its successful days of the past, this technology proves essential in reducing unnecessary costs and helps keep the company running as smoothly as possible without reckless spending. Eliminating unnecessary high maintenance costs…
Oracle. 2009. PeopleSoft gives Ford the ability to operate globally as one company, with accounting, analysis, GAAP reporting, and statutory reporting on one system. Tech Republic. http://whitepapers.techrepublic.com.com/abstract.aspx?docid=128640 . [18 July 2009].
Takana, Yuji. 2004. Transformation of the budgeting process. Jnet. http://us.kpmg.com/jnet/English/Archives/2004/MayJune/Budget_E.pdf. [18 July 2009].
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…
Harvard Business Update (1998) Common sense about group incentives, Nov. 1998, p. 3
Hope, J. & Fraser, R.; (2003) New ways of setting rewards: The Beyond Budgeting model, California Management Review, Vol. 45, Issue 4, pp. 104-119
Hope, J. & Fraser, R.; (2000) Beyond budgeting, Strategic Finance, Vol. 82, Issue 4, pp. 30-35
Libby, T. & Lindsay, R.M.; (2007) Beyond budgeting or better budgeting? Strategic Finance, Vol. 89, Issue 2, pp. 46-51
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…
The Budget Process: Four Phases. (2010). University of Texas. Retrieved from: http://www.laits.utexas.edu/txp_media/html/pec/features/0403_01/slide1.html
Texas Politics - Political Economy. (2010). Texas Tribune. Retrieved from: http://www.texastribune.org/texas-politics/2010-general-election/what-an-end-to-earmarks-would-mean-for-texas/
Castro, a. (2011). Texas budget draft cuts $13.7 billion in spending. Valley News Live. Retrieved from: http://www.valleynewslive.com/Global/story.asp?S=13866526
Philpott, B. (2010). What an End to Earmarks Would Mean for Texas. Texas Tribune. Retrieved from:
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…
Peak, Kenneth J. (2009). Justice administration: Police, courts, and corrections management.
5th Edition. New York: Prentice Hall.
Engineering organizations, like most other types of organizations, develop cost budgets that include all the resources they can track such as money, people hours, calendar time and space; both as initial investments and recurrent operational costs or future commitments (Gilb, 1997). However, according to Gilb, engineering organizations face unique challenges because it is often impossible to estimate a step cost budget until the following is known about a particular step:
The design ideas to be used, and their costs
The functionality to be changed, and their costs
The process for acquiring the step content, and its cost
The process for integrating and testing the step content, and its cost
The process for deploying the step content to the recipient, and its cost
Some organizations ignore costs while others attempt to deal with these unknowns in the budget process by turning to techniques such as design to cost (DTC) and…
Criscimagna, N. CAIV. Retrieved March 27, 2004 from Web site: http://126.96.36.199/search?q=cache:Zd0WiwL8Uk4J:rac.alionscience.com/pdf/caiv.pdf+CAIV& hl=en& ie=UTF-8
Crow, K. (2000). Achieving target cost / design-to-cost objectives. Retrieved March 27, 2004 from Web site: http://www.npd-solutions.com/dtc.html
Geraldland. J. (1997, March-April. Differences in philosophy - design to cost vs. cost an independent variable. Retrieved March 27, 2004 from Web site: http://188.8.131.52/search?q=cache:YiBVvHedvdwJ:www.dau.mil/pubs/pm/pmpdf97/land.pdf+%22design+to+cost%22& hl=en& ie=UTF-8
Gilb, T. (1997, August 21) Evo: the evolutionary project managers handbook. Retrieved March 27, 2004 from Web site: http://www.ida.liu.se/~TDDB02/pkval01vt/EvoBook.pdf
New Budgetary Need for the HSO -- Additional Hotline 'Crisis' Staff is Warranted, Especially During Exam Time
One new budgetary need that might and in fact must be addressed in an overall HSO (Health and Safety Office) budget request is additional volunteer, but more particularly additional paid student work study counseling staff during exam time for the University 'crisis' hotline.
Description Statement providing an overview of the request
The request is as thus: currently, the HSO runs an evening crisis hotline, staffed by several volunteer students, to counsel students at times of emotional and psychological crisis. If the individual on the hotline seems to be suicidal, or expresses a wish to harm him or herself, there is also a school psychologist on staff who can be contacted via an emergency number by these crisis staff student volunteer counselors, as such an individual can better provide assistance and can…
Budget: educing isky Behavior Among African-American Female Adolescents
The membership of the American Association of Nurse Practitioners (AANP) is almost 200,000 in number (AANP, 2014a), but sending a survey to all members would be prohibitively expensive. The membership ranks are divided into regions within the United States and regions 2, 3, 5, and 11 represent the more urbanized ones (AANP, 2014b). The addresses of members will be cross-referenced with the major urban areas in these regions (SBA, n.d.; SSDAN, n.d.) and a random sample of 1,000 will be selected from this group and sent an information packet, with the hope of recruiting at least 115 mother-daughter dyads through these providers. The cost of 1,000 first class stamps will be $490 dollars, but another 1,000 postcard stamps will be needed for the response cards included in the recruitment package. The total postage costs for the initial phase of the study will…
AANP. (2014a). About AANP. Accessed 25 Feb. 2014 at http://www.aanp.org/about-aanp .
AANP. (2014b). Regions. Accessed 25 Feb. 2014 at
Budgeting; Allocation of Public Resources
In 1940, V.O. Key laid out the basic budgeting problem that economists are yet to solve: ‘on what basis do we decide to allocate resources to one program and not another given the scarcity of resources?’ According to Keys, solutions to this problem lie in economic theory or an improved understanding of the institutional arrangements within which decisions for resource allocation are made (Fozzard, 2001). From these two perspectives, economists have proposed several guiding principles as the basis for resource allocation in the public sector. This text discusses five of these bases.
The Public Goods Basis
This basis assumes that the market is perfect and that the forces of demand and supply adjust accordingly to allocate public resources in an efficient manner without the need for public intervention (Fozzard, 2001). Public intervention would only be justified in the event of market failure, where the forces…
Fozzard, A. (2001). The Basic Budgeting Problem: Approaches to Resource Allocation in the Public Sector and their Implications for Pro-Poor Budgeting. Overseas Development Institute. Retrieved from https://www.files.ethz.ch/isn/100340/wp147.pdf
Lane, J. (2000). The Public Sector: Concepts, Models and Approaches. Thousand Oaks, CA: Sage.
Milakovich, M. E., & Gordon, G. J. (2013). Public administration in America (11th ed.).Belmont, CA: Wadsworth Publishing.
Premchand, A. (1989). Purposes of Budget and Determinants of Public Expenditures. IMF. Retrieved from https://www.elibrary.imf.org/view/IMF071/02862-9780939934256/02862-9780939934256/ch02.xml?language=en&redirect=true
Looking over a spreadsheet can clarify when to make larger purchases, such as waiting until the start of a new billing cycle, or negotiating better payment terms offered by suppliers and any creditors, especially when interest rates are volatile.
Once the need for a budget is established then the organization can consider what type of budget it desires. For example, with zero-based budgeting, "all expenses must be justified for each new period. Every function within an organization is analyzed for its needs and costs. Budgets are then built around what is needed for the upcoming period, regardless of whether the budget is higher or lower than the previous one" (Zero-based budgeting, 2009, Investopedia). hile it is true that zero-based budgeting is more costly than traditional cost-based budgeting, it also favors enterprises specializing in areas "that achieve direct revenues or production" in the enterprise (Zero-based budgeting, 2009, Investopedia). For larger organizations,…
Activity-based budgeting.. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/a/abb.asp (Thebeauty of budgeting 2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/articles/pf/06/budgeting.asp
Budget. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/b/budget.asp
Capital budgeting. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/c/capitalbudgeting.asp
Cash budget. (2009). Investopedia. Retrieved February 25, 2009 at http://www.investopedia.com/terms/c/cashbudget.asp
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…
125% to 6.0% would increase the estimated revenues by approximately $300 million, bringing this revenue to its highest level in history. This rate would still be lower than the state sales tax rate in neighboring Southwest states such as Arizona (6.6%), Texas (6.25%), Nevada (6.85%) and California (7.25%) (Sales Tax Clearinghouse, 2010). ith this increase, personal income tax rates would not need to be increased. Corporate income tax rates would also remain the same, as they are not a significant component of general revenues. hile the move to increase the state sales tax would prove unpopular, it would allow New Mexico to build for a more stable budget future, less reliant on federal transfers, while remaining competitive in terms of corporate and personal income taxes.
Appropriations will also need to be cut in order to save money. The main problem with appropriations in the budget is that a looming and…
Massey, B. (2010). NM revenues weaken, more state budget cuts loom. Business Week. Retrieved December 2, 2010 from http://www.businessweek.com/ap/financialnews/D9H3JT6G1.htm
McCaffrey, S. (2010). State budget shortfalls may reach $180 billion this year. Boston Globe. Retrieved December 2, 2010 from http://www.boston.com/news/nation/articles/2010/01/04/state_budget_shortfalls_may_reach_180_billion_this_year/
McNichol, E.; Oliff, P. & Johnson, N. (2010). States continue to feel recession's impact. Center of Budget Policy Priorities. Retrieved December 2, 2010 from http://www.cbpp.org/cms/?fa=view&id=711
New Mexico 2011 Budget. Retrieved December 2, 2010 from http://budget.nmdfa.state.nm.us/cms/kunde/rts/budgetnmdfastatenmus/docs/284016296-01-05-2010-09-15-31.pdf
How current budget crisis impact public Health & Community services individual states? 1) Colorado 2) South Carolina 3) New Hampshire 4) California 5) Arizona 6) Oklahoma 7) Virginia
How does the current budget crisis impact the public health & community services in the following individual states?
Even before the current crisis, Colorado ranked "near the bottom when compared to other states for covering families and children for health care" (Anderson 2011). Now, because of recent budget cuts, healthcare services are likely to suffer further. For some healthcare centers, cuts will comprise up to 20% of their annual operating budgets. The need for services has increased, given that job losses mean that more people are reliant upon state assistance. "Demand is up as much as 40% by Medicaid patients and 23% by the uninsured" (Anderson 2011). Public clinics are closing or laying off staff and reducing hours because…
Anderson, Polly. (2011). The crisis: Field perspective Colorado. NACHC.
Kaine's budget proposal: Cut mental health services, facilities. (2009). Hampton Roads.
Question 3: hat is the budget cycle?
The budget cycle is defined by a series of stages, stages that make up the budgetary process. First, there is the preparatory stage. The needs of the upcoming year are forecasted, and the organization's goals are defined. It determined how best to allocate scarce financial resources and priorities are set. Secondly, there is a period of consideration before the approval of the budget. Necessary revisions are made, based upon critiques and input from organizational leaders and special interests. The third stage involves the distribution of funds and execution of the budget. This is followed by the critical fourth stage of auditing and evaluation. Auditing and evaluating what has transpired ensures that departments can learn from their mistakes, and rectify what problems have arisen for the following fiscal year.
Budgets. UNM. Retrieved June 20, 2009 at http://www.unm.edu/~gleasong/a/notes/budget.pdf
Line item budget. (2009). BusinessDictionary.com.…
Budgets. UNM. Retrieved June 20, 2009 at http://www.unm.edu/~gleasong/a/notes/budget.pdf
Line item budget. (2009). BusinessDictionary.com. Retrieved June 20, 2009, from BusinessDictionary.com website: http://www.businessdictionary.com/definition/line-item-budget.html
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)…
Doing this activity provided me with information I was unaware of before doing the assignment. It seems amazing to me that more than half of the federal money is going to the military. Yet only 4% of the federal budget goes to education. his is a very sad state of affairs. Since September 11, 2001, the government of the United States has spent $635.9 billion on just homeland security. his doesn't even include the amount of money that has been spent in the war on terror. he website states that since 9/11, the government has spent $7.6 trillion on the military. his is a huge amount of money.
he budge projection for 2012 is that the United States government will spend another $3.7 trillion. hat means that the government will spend the same amount in one year that they have spend in the five years before. his is an…
The budge projection for 2012 is that the United States government will spend another $3.7 trillion. That means that the government will spend the same amount in one year that they have spend in the five years before. This is an obscene amount of money, especially since the country's economy is in such bad shape. Many people are out of work in this country. Higher education is costing so much money that people are having to drop out of college. Health insurance costs keep climbing so that very few people can afford health care. The country is in very bad shape and yet the government keeps investing in the war in another country instead of fixing the problems at home.
While I can see that spending money on security of the nation is important, I cannot imagine how the government could have used so much money on the war. Also, it seems to me that the budget should be redesigned. Education should take up far more than 4% of the federal budget money. The government's budgetary plans for the upcoming future are severely flawed. Not enough is being invested in the future of the American people and in their education. This is leading to further problems in the country.
The United States is a nation built upon the idea of individual freedoms. It is also based upon the idea that anyone can achieve the "American Dream." This is the idea that anyone can come from even the most poverty-affected background and through hard work and diligence, become a millionaire. One of the ways you pull yourself up from the dregs is by investing in your education. Consequently, those who do not take advantage of the education system have only themselves to blame for their failures. At least that was how the country was intended to function. In the United States, there is a correlation between education and criminality, education and poverty, and education and eventual hardship in adulthood. So, by not providing funds to help education, the United States is becoming part of the problem rather than helping people.
We do not anticipate success is securing a non-voted debt issue. Given the time frame for the completion of the Commons project, the city will weigh our request vs. The upcoming needs for school repairs and roadwork. Education is a touchstone issue for voters, and roadwork affects all voters in the city. hould council decide to issue any of their remaining non-voted debt capacity, it is unlikely they would choose to use it for the Commons project ahead of those two other priorities.
Voted debt, however, they can issue. If the public votes 60% in favor, council will not face the same concerns about opportunity cost. We will not be competing for money with schools. A voter-approved special levy would function in much the same way (financed through property tax increases) but requires only a 50% vote in favor. Although the capacity for such special levies is only $90 million,…
Johnson, Gerry. (2005). New Life Emerges in the Wake of Seattle Commons Failure. Seattle Post-Intelligencer. Retrieved June 20, 2008 at http://seattlepi.nwsource.com/opinion/272622_focus04.html
Jacobson, Arthur Lee. (1995). The Seattle Commons, an Editorial Opinion. Olmsted Parks. Retrieved June 21, 2008 at http://www.arthurleej.com/a-commons.html
No author. (1995). The Commons: Time Line. Seattle Times. Retrieved June 21, 2008 at http://community.seattletimes.nwsource.com/archive/?date=19950911&slug=2141092
History of Washington State votes at http://www.historylink.org/essays/output.cfm?file_id=7536
This contribution to fixed costs is the same for every customer. Thus, the breakeven point is 250,000 / 500 = 500 customers.
In another example, if the price is 200 and the variable costs are 110, and the fixed costs are 100,000, then the breakeven point is 1112 customers. The breakeven point is always rounded up because to have less than that the company would not yet have broken even. By rounding up, the company has officially passed the breakeven point.
4. The relative value scales are 150, 300, 568.75, 264 and 160 for a total of 1442.75
The relative value scales indicate how much effort goes into each type of acuity. The cost per RVU is relative to the total nursing costs, so it is a weighted-average:
$36,389 for Acuity Level 1
$72,777 for Acuity Level 2
$137,974 for Acuity Level 3
$64,044 for Acuity Level 4
The departmental and program breakdown of the information in the city of Detroit's budget does not provide quite the same level of detail or of annual change that the city of Austin's budget does, but this more than made up for by the ease of accessing what details are available, and by the different formats of the two cities' budgets almost necessitate these differences in clarity, but they do not entirely account for the lack of clarity in the city of Austin's budget. That budget is already organized by department and broken down into the individual programs; tabulating the department totals and providing a clear overview of the major expenditure and revenue items on the budget would not have entailed any undue extra effort. The city of Detroit's budget clearly shows that both detail and overall clarity are entirely achievable in a municipal budget, making it both more effective and…
Lee, R.; Johnson, R. And Joyce, P. (2008). Public budgeting systems. Sudbury, MA: Jones & Bartlett.
Stenberg, C. (2007). Managing local government services: a practical guide. Washington. D.C.: ICMA.
Health care is a large part of the federal budget and it is increasing in importance. The rate of growth in health care outlays is greater than the rate of growth in the budget itself. The poses a problem, because the federal budget deficit is increasing in size. Debt service is going to be the most rapidly growing component of the federal budget over the next several years, highlighting the need to control costs in all aspects of the budget. The challenge, however, is that both demographic trends and health care cost inflation trends signal a dramatic increase in health care costs in the coming couple of decades. Health care reform is expected to help with cost containment, primarily through shifting some eligibility requirements, but greater solutions are required. Privatizing health care would take if off the government's books, but would have significant negative externalities with respect…
Budget of the U.S. Government, fiscal year 2011. Retrieved December 9, 2010 from http://www.whitehouse.gov/sites/default/files/omb/budget/fy2011/assets/budget.pdf
CBO. (2010). HR 4872. Congressional Budget Office. Retrieved December 9, 2010 from http://www.cbo.gov/ftpdocs/113xx/doc11355/hr4872.pdf
Klein, E. (2010). Rep. Ryan proposes radical solution to budget problem. Washington Post. Retrieved December 9, 2010 from http://www.washingtonpost.com/wp-dyn/content/article/2010/02/05/AR2010020504796.html
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…
Government Printing Office, the budget cycle. Washington, DC: GPO. Retrieved
Keith, Robert. U.S. Congress, Congressional Research Service. (2008). Introduction to the federal budget process (CRS Publication No. 98-721 ). Washington DC: Congressional Research Service. Retrieved from http://budget.house.gov/crs-reports/98-721.pdf .
Keith, Robert. U.S. Congress, Congressional Research Service. (2008). Suspension of budget enforcement procedures (CRS Publication No. RL31068). Washington, D.C.: Congressional Research Service. Retrieved from http://www.policyarchive.org/handle/10207/ .
.. discretion as a practical matter" (1988, p. 78).
Wildavsky's was not critical of classical budgeting theory. He was more in favor of the concept of incrementalism that was a vital part of classical budgeting. He felt that incrementalism was superior to other budgeting approaches because it "increases agreement among the participants" (1984, p. 136) and also because it could reduce "burden of calculation" (1984, p. 136). Wildavsky went on to say that: "Clinging to last year's agreements is enormously economical of critical resources . . . which would be seriously depleted if all or most past agreements were reexamined yearly." (1984, p. 217).
The classical budgeting model proved efficient and practical for many decades but it lost its appeal in mid-20th century when a general trend towards excessive spending took over. This trend was observed all over the world and the main reason for the scope of government's responsibilities…
1. Caiden, Naomi. 1982. "The Myth of the Annual Budget." Public Administration Review 42 (6):516 -- 523.
2. Meyers, Roy T. 1997, Late Appropriations and Government shutdowns: Frequency causes, consensus and remedies. Public Budgeting and Finance. 25:38-45
3. Schick, Allen. 1980. Congress and Your Money. Washington: Urban Institute.
4. Schick, Allen. 1990. The Capacity to Budget. Washington: Urban Institute.
" (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…
Hope, T. (1997). Competing in the Third Wave. Harvard Business Press.
Huang, C. & Chen, M. (2008). Relationships among budgetary leadership behavior, managerial budgeting games, and budgetary attitudes: Evidence from Taiwanese corporations. ScienceDirect. Online at http://www.sciencedirect.com/science?_ob=ArticleURL&_udi=B6W58-4VDSJS0-2&_user=10&_rdoc=1&_fmt=&_orig=search&_sort=d&_docanchor=&view=c&_searchStrId=987186959&_rerunOrigin=google&_acct=C000050221&_version=1&_urlVersion=0&_userid=10&md5=570424efa71791707f3c9fc21199de67
Walker, K.B. & Johnson, E.N. (1999). The effects of a budget-based incentive compensation scheme on the budgeting behavior of managers and subordinates. Journal of Management Accounting Research 11, 1-28.
S. This has partially continued during the 90s as well, so protectionist barriers is one of the things Nissan needs to consider when exporting to its main partners.
There are two different actions Nissan may consider in the future in this sense. The first one refers to the fact that Renault, an European company, still holds a significant part of Nissan shares, which may facilitate exports on the European market. On the other hand, trade barriers can generally be avoided by direct implementation in the respective country, a measure which Japanese companies, especially Toyota, have successfully applied in the U.S. during the 80s.
2. Internal competencies
A. General Motor seems to be currently both the most important producer and the sales leader. However, this should come with several amendments. If we are referring to the market leader, there are several criteria worth mentioning. First of all, the number of cars…
http://www.nissan-global.com/EN / www.oanda.com
So 24 hours per day of care. With 24 hours and 8-hour shifts, 24/8 = 3 nurses are needed for each day.
If the agency works 365 days per year, and a shift is 7.5 hours, it will provide 16.43 hours of care per day, which will require 16.43 / 7.5 = 2.19 nurses per day.
4. The total workload in care hours is the weighted average of the different types of patients, so (.25)(.5) + (.25)(.8)+(.25)(1.2)+(.25)(2) = .125 + .2 + .3 + .5 = 1.125 * 5000-5625 care hours. This equates to 1.125 care hours per clinic visit.
If there were 6000 visits, divided equally among patients that require care of 0.4 hours, 0.9 hours, 1.0 hours and 2.2 hours. Under that scenario, the total workload care hours would be (.25)(.4) + (.25)(.9) + (.25)(1) + (.25)(2.2) = 1.125*6000 visits = 6750 total workload care hours, or 1.125…
Budget Analysis for the City of Lakeland: Executive Summary
In order to understand how a new performance-based budgeting process could be utilized by the City of Lakeland, it is essentially to conduct a review of the City's Annual Budget, with a detailed description of how the budgeting process works from beginning to end.
Lakeland's budgeting process is divided up into parts, with each part being designated a specific amount of time (in terms of a calendar month) in which it is to receive attention. The tasks associated with the budgetary process are thus sequential and proceed in an orderly manner; once the first steps are taken and accomplished, the next steps may be conducted.
Steps According to Monthly Division
The first steps begin in the month of February. The evenues Manual supplied by the City is utilized to understand and predict the City's revenue and revenue sources, using a systematized…
City of Lakeland, Florida. (2016). Fiscal Year 2016 Annual Budget.
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.…
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…
budget process for Las Vegas Metropolitan Police Department (LVMPD). LVMPD was formed in 1973 as a result of the merger of the Las Vegas Police Department with the Clark County Sheriff's Department. LVMPD serves the city limits of Las Vegas along with unincorporated areas of Clark County.
LVMPD is funded by the City of Las Vegas and Clark County. Police department funding is based on a complex formula determined by population, calls for service, and the number of felony crimes from the previous year. Both city and county governments must approve not just the annual operating budget, but also their respective percentage of the budget. In addition to funding supplied by the two governments, the department itself generates approximately one-third of its funds though property tax and the charging for certain services, such as special events. A special sales tax to fund commissioned positions generates additional funding.
The Law Enforcement…
Haynes, B. (2011). Board votes to tap Las Vegas police reserves. Las Vegas Review-Journal. Retrieved August 4, 2011 from: http://www.lvrj.com/news/board-votes-to-tap-las-vegas-police-reserves-120669354.html
Las Vegas Metropolitan Police Department. (2011). Amended Final Budget FY 2011- 2012. Retrieved August 4, 2011 from: Retrieved August 4, 2011 from: http://www.lvmpd.com/pdf/FinalBudget2011-2012.pdf
Las Vegas Metropolitan Police Department. (n.d.). About Us Consolidation. Retrieved August 4, 2011 from: http://www.lvmpd.com/about/consolidation.html
Las Vegas Metropolitan Police Department. (2011). Fiscal Year 2011-2012 Budget-in-Brief. Retrieved August 4, 2011 from: http://www.lvmpd.com/pdf/BudgetinBrief2011-2012.pdf
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…
Libby, T. & Lindsay, RM (2007) Beyond budgeting or better budgeting? Strategic Finance, 47-51
Mitchell, M. (2005) Beyond budgeting: case studies in N. American financial services, Journ. Of Per. Man. 18, 1-13.
With, E. & Dijkman, A. (2008) Budgeting practices of listed companies in the Netherlands FindArticles, Management Accounting, Quar.
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…
Accounting Tools. (2014). Flexible budget. Budgeting: A comprehensive guide. Web. http://www.accountingtools.com/flexible-budget
Sony (2013). Annual Report. Web. http://www.sony.net/SonyInfo/IR/financial/ar/2013/shr/pdf/AnnualReport_E.pdf
A normal costing approach uses an annual average overhead rate consistently throughout the year, without accounting for day-to-day and month to month fluctuations. This average overhead rate is applied to the cost of a manufactured product, along with actual direct material and actual direct labor. Because the amount of overhead is computed as an average over the year, a department's applied overhead will rarely, if ever, be equal the actual incurred overhead. A department's applied overhead will rarely equal the actual overhead incurred. Why the reason for the variance? The most common reason is that the department is operating at a different level of volume than the level used in calculating the budgeted overhead rate. This can be the result of an over- or under-estimation of the hours which will be needed to produce goods or unexpected events like plant shutdowns. Still, even with the variances, companies prefer to use…
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
HHS. (2014, June 1). HHS Budget in Brief. Department of Health & Human Services.
Retrieved June 28, 2014, from http://www.hhs.gov/budget/fy2015/fy-2015 -
IRS. (2014, June 26). Forms and Pubs. Internal Revenue Service. Retrieved June 26, 2014, from http://www.irs.gov/
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).…
Borrello, a. (2009, March). In defense of the police manager. Law & Order, 57(3), 64-65.
Carrick, G. (2003, April). Traffic safety in the new millennium. Law & Order, 51(4), 44-45.
Coulton, G.F. & Feild, H.S. (1995). Using assessment centers in selecting entry-level police officers: Extravagance or justified expense? Public Personnel Management, 24(2), 223-
Garner, G.W. (1998, December). A leader's role in officer safety. Law & Order, 46(12), 91-92.
Zero-based budgeting is used for entirely new projects and programs, including a recent investment in a new development platform and series of applications based on the Software-as-a-Service (SaaS) model. These investments are zero-based and provide for the development of technologies that are often patentable, which create significant barriers to entry in new markets the company is entering. Often the zero-based budgeting is substantiated with the potential of creating patentable products over the long-term.
The frequency of budgeting varies by the level of the organization. Often the strategic budgets are set once a year, using the base level approach to ensure consistency and also attain predictability of results. At the business unit level forecasts are evaluated on a quarterly basis, often in quarterly reviews with the CEO and other members of the board of directors present. These are often very involved and quite intense in the level of scrutiny applied to…
"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"…
Cintron, Ivan. 2000, May. "The Art of Savvy Budgeting." Black Enterprise 30(10): 76.
5. What are the top 3 in monetary costs for capital improvement projects recommended for the ensuing fiscal year?
The top 3 costs for Special Warrant Articles for the upcoming budget are: The GMS site de-watering study (including design and cost) at $86,000, GMS/LMS safety locks and video surveillance at $56,431 and finally LMS Emergency Access Road at $44,000.
6. Excluding food service sales what are the top 3 revenue budget lines for the year 05/06?
The top three revenue line for the school year were: Federal Program Grant at $239,042, State School Building Aid at $238,392.16 and revenue from Other Local Sources at $165,049.
7. What is the total dollar amount for appropriations recommended by the School Board?
The total amount recommended by the School Board for the upcoming year is $19,514,314. This includes the $259,854 appropriated to Special Warrant Articles as well as the $19,254,460 appropriated for all…
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.…
Managing Finance: Essential Skills for Managers, Geoffrey Meredith and Bob
Williams, 1999 Publisher: McGraw-Hill Book Company of Australia Pty Limited.
Five Steps to an Effective Strategic Plan, Scalet Sarah, CSO Magazine, July, 2005
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…
California Government (2006, May). Revised Budget Summary 2006-2007. Retrieved 9/7/06, at http://govbud.dof.ca.gov/
Wisconsin Government (2006, may). Wisconsin executive budget 2006-2007. Retrieved 09/07/06, at http://www.doa.state.wi.us/debf/ex
The product being promoted by this particular budget is a new ladies razor, and the name that has been decided upon is the "Eternal Ladies azor." The razor's value is that it lasts longer and is priced lower than the competitor's leading razor. Now it's time to get the word out to the targeted audience of single, hairy women between the ages of 20 -- 34. With our new razor they will be hairy no more!
The budget for this particular product is $50,000 for the initial campaign, with additional dollars being allocated to the campaign based on sales of the razor. The advertising budget objective is to provide an initial pop for the product with continuing sales throughout the year to establish a niche in the marketplace, culminating in a rise in brand awareness by 15 -- 20% within the year.
In order to accomplish that objective…
Clow, K.E. & Baack, D. (2007) Integrated Advertising, Promotion, and Marketing Communications 3rd edition, New York: Pearson Education
Delgado-Bellester, E. & Munuera-Aleman, J.L. (2005) Does brand trust matter to brand equity?, Journal of Product Brand Management, Vol. 14, Issue 3, pp. 187-196
Potluri, R.M. (2008) Assessment of effectiveness of marketing communication mix elements in Ethiopian service sector, African Journal of Business Management, Vol. 2, Issue 3, pp. 59-64
April 1, 2015 and March 31, 2016, an estate of $3,125,000 is exempt.
April 1, 2016 and March 31, 2017, an estate of $4,187,500 is exempt.
April 1, 2017 and Dec. 31, 2019, an estate of $5,250,000.
Raising the estate tax rates will help the families of the most advantaged members of the population.
However, there were also provisions made for education that should increase funding for schools. However, most of these funding increases were geared strictly at charter schools. New York City charter schools will now enjoy some of the greatest protections in the country; under the new state budget agreement, for the first time ever, charter schools will be eligible for government funds (MYFOXNY, 2014). A $1.1 billion, or 5.3%, increase in education aid, with high-needs districts getting almost 70% of the hike; allocations of $340 million for universal pre-K during each of the next two years, with…
AP. (2014, March 24). NY budget talks continue in Albany as deadline nears. Retrieved from AP: http://www.syracuse.com/news/index.ssf/2014/03/ny_budget_talks_continue_in_albany_as_deadline_nears_1.html
MYFOXNY. (2014, March 30). Huge win for NY charter schools. Retrieved from Fox NY: http://www.myfoxny.com/story/25108048/highlights-of-proposed-140b-ny-2014-15-budget
Weaver, T. (2014, March 29). 2014 NY State Budget. Retrieved from the Post-Standard: http://www.syracuse.com/news/index.ssf/2014/03/ny_budget_details_property_tax_freeze_30_million_for_onondaga_lake.html
Weaver, T. (2014, March 29). NY Budget: Estate tax change. Retrieved from the Post-Standard: http://www.syracuse.com/news/index.ssf/2014/03/ny_budget_estate_tax_change.html
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…
Project controlsonline.com (2012). Project Controls: What is it and why is it important ? Retrieved July 11, 2014 from http://projectcontrolsonline.com/Home/DefinitionandImportanceofProjectControls.aspx
Grant: Strengthening the Family Unit
Grant -- Strengthening the Family Unit
The program expenses described in this budget narrative are for the Year 1 Pilot. Subsequent years of program are dependent on the provision of additional funding, to be determined at the close of the Year 1 and upon satisfactory evaluation of the Pilot program.
Costs attributed to personnel with project coordination and budget oversight duties are assigned to this category. Two positions with direct project responsibilities are funded from this category: Project Coordinator, Project Trainer, and Project Administrator. The Project Coordinator and the Project Trainer are scheduled to work the equivalent of .50 FTE, and the Project Administrator is scheduled to work the equivalent of .35 FTE. The salary calculations are provided for 20 hours per week for the Project Coordinator and 15 hours per week for the Project Administrator.
% of Time…
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…
Blocksidge, Charles. "The Art of the Budget." The American City & County 110.3 (1995): 6-. ProQuest. Web. 18 July 2011.
Thomas, John. "Operational Plan Framework: A Step Toward Sound Management." Optimum 15.2 (1984): 76-.ABI/INFORM Complete. Web. 18 July 2011.
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…
DoIT Project Management Advisor. (2006). Stage 2: Initiate the Project. Retrieved August 4, 2015, from http://www.pma.doit.wisc.edu/initiate/5/how.html
Personal finance at duke. (n.d.). What is a budget and why is it important? Retrieved August 4, 2015, from http://personalfinance.duke.edu/manage-your-finances/budget/overview
Shapiro, J. (n.d.). Budgeting Toolkit. Civicus.
Westland, J. (2011, June 23). Project Management: 4 Ways to Manage Your Budget. Retrieved from CIO: http://www.cio.com/article/2406862/project-management/project-management -- 4-ways-to-manage-your-budget.html
This type of policy is aimed at "stimulating total spending in the economy," through cutting taxes to leave businesses and individuals with more money to buy goods, thus raising demand and increasing production and generating increased spending (Microsoft® Encarta® Online Encyclopedia).
Importantly, the authors note that these budget imbalances will have a significant negative impact on the general economy. They will reduce living standards and damage the economy, and bring the nation to a "real risk of a fiscal crisis" (p. 5). In large part, these effects will come from reducing national saving.
The authors note, however, that all is not lost if action is taken immediately to reduce budget deficits. Gale and Orszag write, "Significant changes in fiscal policy are needed to deal preemptively with the costs from low national saving and the risk of a fiscal crisis. The sooner we begin, the better" (p. 6).
Gale William G. And Orszag, Peter R. 2004. The Budget Outlook: Projections and Implications. The Economists' Voice: Vol. 1: No. 2, Article 6, October 27, 2004. November 2004. http://www.bepress.com/cgi/viewcontent.cgi?article=1004&context=ev
Microsoft® Encarta® Online Encyclopedia. 2004. Fiscal Policy. © 1997-2004 Microsoft Corporation. All Rights Reserved. 04 November 2004. http://encarta.msn.com/encyclopedia_761579937/Fiscal_Policy.html
If we take the former approach, we must now combine men and women together demographically; women now work far more outside the home than they did in 1935. According to the United Nations, this is now roughly 80 years, meaning the retirement age should be pushed to 70, allowing 5-8 more years of pay ins, and far fewer years of pay outs (World Population Prospects, 2006). In addition, if we follow the original mandate, Social Security is a supplemental or emergency program, not meant for those who do not need it.
So, if we take a two-pronged approach; moving the retirement age to at least 70 and recategorizing those who take retirement benefits based on their savings and investment programs, we are in more of a fiscal position to tweak the system already in place. While this may seem unfair to some, if we think about it logically, those "baby…
"Life Expectancy for Social Security," (2010). Social Security Office. Cited in:
"World Population Prospects -- Highlights." (2006). The United Nations Office of Economics and Social Affairs. Cited in:
Control function, may it be management or accounting, plays the same key role. It is, in many ways, a two-way process. First of all, a top-bottom control flow, where the upper management or higher authorities oversee a certain process, but it is also a bottom-top process, as is the case when the feedback and follow-up actions come from the lower levels.
In the case of the expenditure process, the top-down circuit is, first of all, characterized by the budget restrictions that are imposed on the upper management levels of the company. In this sense, the top management defines a certain amount of money that can be spend and notifies accordingly the lower levels within the company. All acquisitions are thus limited by the expenditure levels fixed in the budget.
In many ways, the control function tends to be associated with management accounting. As we know, one of the most important…
2. Bookkeeping and Accounting. On the Internet at http://www.onlinewbc.gov/docs/finance/bkpg_acct.html#4000
On the Internet at
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…
1. The Training and Technical Assistance Division. Budgeting Techniques. On the Internet at http://www.tcada.state.tx.us/training/presentation/ppt/BudgetingTechniques.ppt#1
The Training and Technical Assistance Division. Budgeting Techniques. On the Internet at http://www.tcada.state.tx.us/training/presentation/ppt/BudgetingTechniques.ppt#1
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…
Sources of data to evaluate effectiveness of financial management process are:
Tracking items such as utilities, inputs, salaries, and materials.
Evaluate whether costs are allocated by the cost centers.
Financial reports are linked to financial budgets
Cash flow statements are accurate.
Environmental Impact Requirements. As noted above, many citizens maintain that the aesthetic impact of cellular towers lowers their residential property values, but there are other concerns involved in such installations as well. According to Crowell (1996), there have been a number of concerns voiced about the potential health and environmental problems that electro-magnetic radiation from cellular communications towers and their supporting facilities may create. In an effort to protect the aesthetics of these communities as well as to ensure public health and safety, local governments have increasingly applied zoning powers to regulate tower installations by requiring setbacks from residential or commercial structures, imposing height restrictions, and requiring safe zones in the event the tower collapses or debris falls from the tower; in fact, some municipalities have specifically established setback requirements for towers based on health and environmental concerns (Crowell 6). Still other local governments have imposed moratoriums on issuing facility…
Cellular Tower Installations through Public/Private Partnerships." (2005). WEL Associates, LLC. Available: http://www.welutz.com/cell_tower.html.
Clark, Martha L. (2005). "Massachusetts: The Land." In Encyclopedia Britannica [premium service].
Crowell, Anthony. (1996, June). "Local Government and the Telecommunications Act of 1996." Public Management, 78(6):6.
Czerniawski, June. (2000, March 19). "Fence Post: Police station needed." Daily Herald, 15.
Beacon College, as a small institution, has encountered problems regarding its overall governance standards and accounting oversight. The empirical facts suggest that the entire organization did not have a culture of challenge and innovation. This seems at odds with the overall mandate of the college however. As a liberal arts college, it is by definition innovative and challenging. However, the empirical facts suggest that management was satisfied with the status quo. In any organization, one individual should not have all the information pertaining to a critical subject. This creates information asymmetry where the individual can use their informational knowledge to direct action from others who do not have access to the information. This appears to be an early problem of Beacon College. The CFO did not divulge information in a transparent manner and as a result, the overall financial performance of the organization suffered. Management was unable to make critical…
1) Cleveland, Frederick A. (1915)"Evolution of the Budget Idea in the United States." The Annals of the American Academy of Political and Social Science. 15-35.
2) Rubin, Irene S. (1997) The Politics of Public Budgeting: Getting and Spending, Borrowing and Balancing. Third Edition, Chatham House Publishers: Chatham, New Jersey
3) Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 502.ISBN 0-13-063085-3
4) Walsh, Mary Williams. "Richard A. Musgrave, 96, Theoretician of Public Finance, Dies." January 20, 2007. New York Times: Business
Affordable Care Act decreased the number of Americans without health insurance by the millions, which was its primary objective. It used three different mechanisms to achieve this goal -- the expansion of Medicaid, the insurance exchanges, and the extension of coverage to young adults up to age 26. These changes have also helped to stem the growth of health care costs, and have delivered greater health care savings throughout the system, even private insurance customers, than was originally expected. There were some initial costs to the ACA, running from 2014-2019 but after the point the Congressional Budget Office expects the ACA will have a net benefit in terms of its impact on the budget, because of the new taxes it created.
The incoming government is expected to unwind the ACA, as this has been a stated goal of Trump, and of the epublican party. What this means has been studied.…
Abbott, R. K. (2015). The Impact of the Affordable Care Act on Large Employers: A Retrospective. Benefits Quarterly, 31(1), 8-14.
CBO (2016) Budgetary and economic effects of repealing the Affordable Care Act Congressional Budget Office. Retrieved December 4, 2016 from https://www.cbo.gov/sites/default/files/114th-congress-2015-2016/reports/50252-Effects_of_ACA_Repeal.pdf
CBO (2016) Payment of penalties for being uninsured under the Affordable Care Act Congressional Budget Office. Retrieved December 4, 2016 from https://www.cbo.gov/publication/45397
HHS.gov (2016). The Affordable Care Act is working. Department of Health and Human Services. Retrieved December 4, 2016 from http://www.hhs.gov/healthcare/facts-and-features/fact-sheets/aca-is-working/
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…
Bodie, Z., Kane, A., & Marcus, A. J. (2014). Investments. London: McGraw Hill Higher Education.
Chyssides, G. D., & Kaler, J. H. (1998). An Introduction to Business Ethics. London: Thompson Business Press.
Elliott, B., & Elliott, J. (2013). Financial Accounting and Reporting. London: Pearson.
Mintzberg, H., Ahlstrand, B., & Lampel, J. B. (2008). Strategy Safari: The Complete Guide Through the Wilds of Strategic Management,. Harlow: Financial Times / Prentice Hall.
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…
Azevedo, J., Newman, J., & Pungiluppi, J. (2010, March). Benchmarking: A tool to improve the effectiveness . Retrieved from worldbank.org: http://siteresources.worldbank.org/INTLAC/Resources/257803-1269390034020/EnBreve_154_Web_Final2.pdf
Hunt, S. (2013). Budgeting and Forecasting. Retrieved from accenture.com: http://www.accenture.com/SiteCollectionDocuments/PDF/112192TacticalV7.pdf
Westland, J. (2011, June 23). Project Management: 4 Ways to Manage Your Budget. Retrieved from cio.com: http://www.cio.com/article/2406862/project-management/project-management -- 4-ways-to-manage-your-budget.html
Agency: Oregon Park and ecreation Department (OPD)
Agency's Mission: "To provide and protect outstanding natural, scenic, cultural, historic, and recreational sites for the enjoyment and education of present and future generations" (OPD, 2011).
To attain its mission, the agency organizes its operations into six work areas; direct services, community support and grants, park development, central services, Oregon exposition center, and director's office (OP, 2011). The agency operates a total of sixteen programs scattered across the six work areas. Of the sixteen, Park Experiences takes up the largest amount of funds - approximately 36% of the total lottery revenues - and accounts for 39% of the agency's total budget (OPD, 2011)
Proposal: Cut down spending on Interpretative program.
Identified Need: OPD does not receive any funding from the General Fund Tax kitty, and only relies "on a mix of Other Funds, Lottery Funds and a small amount of Federal…
OPRD. (2011). 2011-2013 Means and Ways Budget. OPRD. Retrieved 27 May 2014 from http://www.oregon.gov/oprd/documents/2011-2013-budget-presentation-20110316.pdf
Oregon Parks and Recreation Commission. (2014). Parks and Recreation Department. OPRD. Retrieved 27 May 2014 from http://www.oregon.gov/oprd/Documents/Commission/2014.4_Bend/COM_Item9_2014.4.pdf
Rocco, K. & Hill, D. (2013). Legislative Fiscal Office. OPRD. Retrieved 27 May 2014 from https://www.oregonlegislature.gov/lfo/Documents/2013-3%20LAB%20Summary%2013-15.pdf
Budgeting, particular during pressing economic periods, is critical to the overall solvency of public organizations. Budgeting and proper forecasting provides a means for organizations to remain viable irrespective of the economic circumstances prevailing. History has proven that businesses along with public enterprises must endure various economy cycles and environments. The past decade has provided substantial evidence as to the importance of proper budgeting. Organizations that have failed to budget properly have suffered immensely in regards to lost reputation, profit and productivity. The subsequent decade will be no different in that regard. Budgeting in the public domain, must provide adequate reassurance that the public organization can withstands a litany of economic and monetary circumstances (Parks, 1991)
A budget provides organizations financial priorities in dollar terms. Particular in recessions or depression, public budgets, when analyzed, provide an idea as to the organizations priorities. During periods of mass euphoria and over optimism, budgets…
1) Muir, Helen. (1953) Miami, U.S.A. Coconut Grove, Florida. Hurricane House Publishers. Pp. 33, 100
2) Parks, Arva Moore (1991). Miami: The Magic City. Miami, FL: Centennial Press. p. 12. ISBN 0-9629402-2-4
3) Sullivan, Arthur; Steven M. Sheffrin (2003). Economics: Principles in action. Upper Saddle River, New Jersey 07458: Pearson Prentice Hall. p. 502. ISBN 0-13-063085-3
What are the consequences of an ever-burgeoning federal deficit and debt? Will there ever be a solution or compromise?
One of the most hotly-contested issues in contemporary American political life is how to deal with the current budget deficit. Despite running surpluses during the 1990s, the current budget is widely considered out of control by both Democrats and epublicans. The reasons for the deficit include two costly wars abroad and increased defense spending overall after 9/11; tax cuts, and the recent recession which required federal spending in the form of unemployment assistance and assistance to the states (who are legally required to balance their budgets); and less income tax revenue because of job losses. There also systemic factors that have contributed to high budget deficits (Amadeo 2012). Overall, "mandatory spending has increased. Spending to pay benefits for Social Security, Medicare and other mandated programs has been…
Amadeo, Kimberly. (2012). U.S. Federal Budget deficit. Retrieved at:
Economic effects of a budget deficit. (2012). Economics Help. Retrieved at: