Budget College Essays Samples For Students

Introduction

Financial budgets refer to monetary estimates of expenditure that the organization expects to incur in future as it carries out its periodic business operations.
Budgets have proven to be important business tools over the course of time. One of the most important uses of the budget is that it can be used by the management of a business entity to make decisions. Decision making is the most important process in a business entity because it determines the direction of the business after a financial period. Financial periods are marked by losses or profits depending on how the entity has Continue reading...

COMPANY DESCRIPTION

Fantasy Hotels is a leading UK based hotel chain which was established in the year 2004. The company mainly focuses on establishing and running budget hotels across Europe. Over a quick span of time, Fantasy Hotels had grown into a leading player in the European hospitality sector. Even though a budget player, the company’s hotel properties provide all the basic facilities like wireless internet, LED televisions with cable access, swimming pools, dry cleaning, etc. The company manages to provide these additional facilities by charging an extra fees over and above the regular room charges. As Fantasy Hotels is Continue reading...

For example Elizabeth L. Angeli, Department of Psychology, State University.

This research was supported in part by a grant from the Sample Grant
Program.
Angeli, Department of English, Purdue University, West Lafayette, IN 55555
Project Management
Definition and Introduction. A project is a one-off task as compared to an “ongoing task”. Project management focuses on completing one-off tasks on time and on budget. One of the dark side of project management is that a project objective may fail to be met. The project manager has the following responsibilities.
- All stakeholders agree to granular detail on the expected outcome Continue reading...

The resolution by the United States to increase the number of people who get incarcerated has come with abnormally high cost that has become quite difficult to manage. Compared tony other country, the number of people who get incarcerated in the United States has been on a steady increase. It has fueled the United States budget with substantial values. The cost of managing the incarceration is very high. As reported in the year 2008, more than 2.3 million American was serving prison terms while out of every 48 working age men, one was behind the bars.Precisely, the cost of Continue reading...

For RTWMTC, budgeting is important since it will allow the company to plan its expenditures. It will allow for a balance between the capital and recurrent expenditures. This will ensure that the company maintains growth in a balanced manner hence avoiding illiquidity or insolvency. The other reason is that the budget will allow this company to manage its financial information and also review it on a real time basis. This will be achieved by maintaining an automated budgeting system which will ensure that the company makes timely and right expenditure decisions (Besley & Brigham, 2008). Thirdly, it is a means Continue reading...

Budgets are a major part of management, designed to ensure efficiency in resource use. Behavioral aspects in budgeting are crucial to the success of the budgeting process. Budgeting highly impacts human behavior .i.e. motivation and dysfunctional behavior. Since individuals react to budgeting demands differently, their behavior may damage the budgeting process. Behavioral problems linked to management styles include dysfunctional behavior and budget slack. Budgeting is a form of communicating organization’s goals to the managers. Therefore, budget managers develop attitudes that maintain cooperative relations with staff.
Budgeting involves two behavioral aspects. On one hand, is the authoritative approach adopted Continue reading...

Business

European socio-economic model is an amalgamation of the wide-ranging welfare systems and powerfully politicized and institutionalized forms of the industrial relations (Grahl and Teague). It comprises of the social security, economic life, educational system and the methods for driving the formation of human capital and for creating and diffusing knowledge. There are several advantages as well as disadvantages of the European socio-economic model. Considering the advantages, the European model is not merely a social model; rather it influences employment, production, growth, objectives and goals of economic policy and the competitiveness (Aiginger and Guger). The European socio-economic model is a Continue reading...

1- What items dominates the budget?

The items that dominate the budget include; education, infrastructural development and private sector initiatives. Other key areas that the budget focus on include creating more jobs for the people and focusing on revenue collection. Domination of items is based on the importance attached to them. Some of the areas that budget focus on are directly related to one another. For instance, in infrastructural development, when the sector is active, a number of jobs can be created as without much of a hustle. The budget focused on critical areas capable of boosting economic stability. In a sense, by looking at Continue reading...

A budget is an integral part of any economy. It outlines the financial plans of a country to facilitate economic growth. Most countries, including the United States of America prepare a budget comprising a one fiscal year financial plan. The US budget has indicated a deficit since 2008; this indicates that the government’s expenditures exceed the amount of revenue collected from the tax revenue. The federal government borrows funds to achieve its expenditure needs, and the interest rate increases annually. The borrowed funds are paid using the tax receipts from the taxpayers; the US government usually pays off Continue reading...

Introduction

The President Barack Obama unveiled his blueprint budget for the fiscal year 2015 on Tuesday the 6th of March 2014. The $3.9 trillion budget blueprint sent to the Congress has already elicited sharp reactions among the American Public. The Government has made it clear that this budget is aimed at seeking new spending to improve economic growth. It also aims to reduce the national debt by increasing taxes on the rich, reducing outflows to health-care providers and revamping immigration laws.
The budget is also seen as a bridge towards development, opportunity, and economic accountability. Through this budget, the President Continue reading...

1. WHAT ITEMS DOMINATE THE BUDGET?

Employment and Job creation

The president’s speech featured employment as a major concern for the government. This is because it is the major macroeconomic indicators for economic growth and development of the country. The President expressed disappointment due to the manufacturing companies’ intention to hire workers from abroad. To avert the situation, he said that the key impediment to job creation is the stiff tax regime that has deterred potential investors from investing their capital in the country. He said that the proposal on tax reforms, which he had proposed to the budget committee, had been Continue reading...

Reference: Kotler, P., & Lee, N. (2007). Marketing in the public sector: A roadmap for improved performance. Upper Saddle River, N.J: Wharton School Pub.
Theme: Communicating effectively with key publics by informing, influencing, and serving the citizens.
Summary:
- Communication channels provide high performance among practicing practitioners and collaborative teams in action.
- Marketing communications are used to inform, educate and often, persuade a target market about a desired behavior.
- Promotion is the forth “p” used to mean persuasive communication.
- Communication decisions will impact on decisions regarding evaluation, budget and implementation plan.
- Communication enables the marketer to Continue reading...

Answer 1)

Time Value of Money is an important concept in the world of finance. As per the principle, the value of money received today is more than the same amount of money to be received in some future date. In other words, as per the principle of Time Value of Money, money carries the power to earn interest. Thus,  any amount of money is worth more the sooner it is received. For Instance, $100 invested at 10% rate of interest for 1 year will be $110 after the end of year. Similarly, if $100 is received after 1 year, this Continue reading...

Management is a base of successful company’s growth. There are different principles and rules which are used by managers to analyze or understand the severities that may arise due to the realization of the project. The one thing created for better managers’ work, especially in resource planning, is project management triangle or triangular management.
First of all I want to consider what the project management triangle is. It includes three sides: time, cost, scope and a core – quality. So, this triangular describes three main constraints of every project. Time is an uncountable factor which depends on the amount Continue reading...

Criticisms of Payback and Simple Rate of Return Methods

Payback Period and Simple Rate of Return Methods are among the tools used in capital budget budgeting. Payback period measures the length of time to recoup an investment, while the simple rate of return method, also known as Accounting Rate of Return (ARR) provides the expected income for the entire life of a capital investment (Investopedia, 2014).

The formulas to calculate for these two methods are:

- Payback Period = Cost of Project / Annual Cash Inflows

Criterion: The project that has shorter payback period is deemed better.

- Simple Rate of Return= Average profit /Initial investment

Criterion: Choose the project with higher returns or exceeds the hurdle rate.

Although considered as the simplest method in appraising capital investments, one of the criticisms with the payback period method is it ignores benefits Continue reading...

Monetary and fiscal policy is a way in which the United States government controls its economy through changing bank reserves and increasing interest rate. In the budget year starting commencing October 1st 2013 and ending September 30th 2014, the government of the United States estimated its budget to be 3.318 trillion dollars. However, its estimated revenue was 3.034 trillion dollars. Therefore, the estimated deficit was 280 billion dollars. This was not the first time the government was experiencing a high budget deficit. In the earlier years during economic recession, it had also experienced high budget deficits. This high budget Continue reading...

Introduction – Situation

The purpose of this document is to prepare the detailed negotiation plan and risk assessment for the negotiation of the Toyota Rv4 purchase with one of the medium-size dealers in the area and the maximum budget of USD$ 20,000 available immediately. The negotiation process will be done within a given timeframe of two days that will include the first stage of negotiation and will potentially extend to the second negotiation round that will depend on the trade-off and negotiation priorities. The conclusion and signing of the deal are not included in the scope of this document as the Continue reading...

Budgeting

Budgeting
Planning stage of any business plays an important role in the progress and profitability of business. Business forecasting means that to predict or access the outcomes or the performance of the business in coming future or the coming accounting period. To maximize the profitability of the business, it is very important for the management of the business to predict the outcomes, both certain and uncertain, to maximize the profitability of the business. Therefore, in these circumstances, management of the business uses probabilities or expected values of expenses and revenues and creates budgets on the basis of forecasting. The Continue reading...

The process through which the companies authorize the spending of capital on the long-term projects is known as the Capital budgeting. Capital projects require careful evaluation due to the limited availability of capital. There are many different techniques for capital budgeting but the most significant ones are the NPV and the IRR. The Net Present Value (NPV) is the method that determines the project worthiness by taking into consideration the devaluation of the money with time. Internal Rate of Return is that rate which is determined by the investor on a particular risk to forecast a profit (Arnold & Nixon Continue reading...

‘Instructor’s Name’

- Describe the basic Public Budgeting System outlined by the instructor in class. Be sure your outline details how information, justification, and examination all play an important role in the development of a public budget.
Public Budgeting System involves, defining the goals that are aimed to be achieved through the process, and allocating the necessary resources to achieve those goals. It is an act of balancing the fund allocation among various public sector needs, and deciding how much to spend on each such programs.
The crucial first phase of the budgeting process is the gathering of information. The information Continue reading...

Project management pertains to methods, processes, and best practices that are used in ensuring the successful completion and delivery of a project. The methods and processes act as roadmap of milestones and deliverables that guarantee all tasks and activities are done on schedule and with high quality output. The best practices ensure that teams are working smartly and efficiently according to norms practiced in the industry and are customizing their processes to fit their methodologies and requirements (Atkinson 338). Project teams without a standardized methodology results to inefficiency of processes and employees, including going overboard the budget, extension of Continue reading...

- MOV - The project creating the new web ordering system will result in a 10% increase in customers within 1 year of system completion.
This is a complete MOV. This is because the MOV gives the statistical data that will be found if a new ordering system will be implemented in the stated period of time. This is a complete MOV as it contains all the information required. Perhaps what needs to be added to the MOV is the subsequent increase that will be realized in the years to come. This will help show whether the system will Continue reading...

Introduction

When designing a forensic laboratory, there should be efficient planning done. This is because a forensic laboratory should function effectively to avoid interruptions. A forensic laboratory handles sensitive criminal investigations and is the reason why this investigation process should not be interrupted. This calls for the budget committee to have effective planning so that there is a reserve fund for any emergencies. A computer forensics laboratory is a place that can be either permanent or temporary that is used to carry investigations that deal with computer crime. Computer forensic investigations are a collection of techniques, procedures, and processes that Continue reading...

There exists a difference between federal government’s debt and deficit and most people tend to confuse these two. The differences are outlined as below. Federal government’s deficit refers to a situation whereby any government spending surpasses its income that comes from tax revenues collected from the citizens and other sources by any amount. Government deficit has some effects in a country’s economy. For example, it causes inflation which can be described to as the increase of the amount of money in circulation resulting to high pricing of goods. Federal government’s debt on the other hand Continue reading...

In the United States budget expenditures are divided on direct (mandatory) and discretionary. Direct costs are guaranteed by the legislation in force and cannot be trimmed (social benefits, health care programs, etc.). Discretionary spending annually are reviewed and approved in the budget for next year by the US Congress. At the same time a limit such costs is fixed. If the actual costs exceed the budget limits, sequestration runs, reducing the budget deficit (Gramm-Rudman-Hollings Act).
In 1986 the Supreme Court determined this Act as unconstitutional on the basis of sequestration gave the Congress inopportune authorities. Anyway, in 1987 the Continue reading...

All Aspects of Life

Budgeting is a word most often heard referring to maintaining a healthy balance between paying bills and purchasing necessities and spending money on things not necessarily needed to survive. Financially speaking, most people make out a budget either in their heads or on paper that lists out the bills they need to pay in order to maintain their current lifestyle, such as rent, heat, car payment, insurance, credit cards, etc. And then there are percentages of income factored into savings and another percentage as frivolous cash; money to spend as extra perks in one’s day. Maintaining a healthy Continue reading...

System development life cycle originated in the 1960’s when there was a need to develop large-scale business systems. The aim of the cycle is to develop high-quality systems based on customer’s requirements, and that meets and exceeds the clients expectations. The cycle ensures that systems are delivered within budget and the estimated time frames. The cycle has planning, designing, building, testing and delivering as the work phases (Radack 2009).The cycle begins with initiation and concept development which define the scope of the system. This is followed by planning where the plan for the project is developed, Continue reading...

Roles and goals of budgeting: I was inspired by the ideas of budgeting expressed in the course. The concept made me realize that for any kind of financial planning, the importance of budgeting cannot be ignored. The role of budgeting is so important that a financial venture without proper budgeting may fail in achieving its goals. Therefore, proper budgeting is highly required. Furthermore, it must be observed that if the actual budget has exceeded the expected budget what were the reasons that caused this to happen?
Identification of variances: In any financial venture, there are always pre-determined standards that Continue reading...

Personal Finance: Creating a Budget

I thought that it would be a simple and straightforward thing to prepare my personal budget. While it was easy to register the monthly income and estimating other categories of income, computing the expenses was the most challenging thing (Freeman and Media, 2014). I had to review my budget several times before I was satisfied with the final budget. After entering the monthly income from my monthly salary and other expected incomes from parents and relatives, I started thinking of the items that involve fixed costs for instance, house rent, education loan, car insurance and the rest. Expenses of Continue reading...

English

Introduction
The job profile of an interior designer is perfect for anyone who is interested in the art of decoration and designing. A person who is an interior designer is highly creative in his outlook and has the resources and skills to innovate. I thought to write this paper to understand what skills are needed to become an interior designer and also what is the financial aspect of the interior designing process. According to me interior designers are individuals that are creative, practical, well organized, have skills in drawing and computer aided design (CAD), project management and are well Continue reading...

Introduction

The U.S. is moving ahead on a dangerous budget path. With the current spending and debt already treacherously high, the future debts are expected to rise even higher. It is certainly a serious matter when public debt is expected to reach 90 % of GDP (Boccia). The implications would be severe as the larger debts would increase interest rates, horde private investment and raise price inflation. U.S. policymakers should take lessons from Greece and Japan to avoid a fiscal crisis and economic stagnation that occurs due to public debt overhang. Growing federal debt in U.S. could lead to a sudden Continue reading...

1 If there is no discretionary increase in government spending then the business cycle will affect the size of the budget surplus and also the investment and trade balance. When the economy is in upswing then the government will collect more taxes as people will have more spending power. Similarly the investment balance would improve as firms would invest more in capital to cater to an increasing demand for goods and services. The trade balance would be in a deficit as improving conditions at home would mean that consumers at home have more purchasing power and hence imports would Continue reading...

Introduction

Traditional budget making has been playing an important role in the business environment since the dawn of 1900 and is considered to be one of the major evaluators and key drivers of managerial performance in every organisation. It also plays a critical part in the designing as well as implementation elements that affect the organisation wide planning and control.
Traditional budget making is the most powerful tool which has been in use for management control as it plays an essential role in the organisation’s corporate politics. It can also increase the authority and power of the senior or Continue reading...

Economics

The federal finance minister, Mr. Joe Oliver announced annual updates of economic and fiscal projection. But these economic updates are basically prepared not keeping in mind the real economic growth of the country. The expectation is very high from this budget. These projections show that the government wants a balanced budget. The main results of Decision taken by them are as follows
The Government has decided that GST would be cut by 2 points plus boost stimulus spending. From this way they have shifted the tax from consumption to income. This has increased the deficit. Latest tax cuts and Continue reading...

The Euro was officially started in 1999 in the first eleven countries. In the beginning, the Euro was employed for transaction purposes while the banknotes and coins came into life in 2002. There are five Maastricht Convergence criteria that are used in the consideration of membership. European countries wishing to join have to meet them. First is the price stability that says that the nation’s inflation rate shall not be more than 1.5 percent above the levels of the best three performing member nations. The second condition was the durability of convergence. The criterion identifies with the factor Continue reading...

A government’s budget is an estimate presented by fiancé minister of the government’s revenue and expenditure for a year. When the revenues exceed the expenditure the budget is said to be in surplus. In a budgetary deficit situation the government’s expenditure that includes transfer payments and government purchases is greater than the revenue. The real GDP of an economy is the monetary value of all services and goods produced in a year with reference to the prices of a base year. Real GDP excludes the price changes due to inflation or deflation.
In a budget deficit Continue reading...

For any budgeting plan or mandate to work, there has to be coordination. This means that the upper budgeting department management should be able to keep track of all the ins and outs of money to and from the company’s treasury. This means that even the smallest expenses should be counted, listed, and audited if the company does not want to unnecessarily and unproductively lose any money.
As an employee, the most important thing I would look for when it comes to budgeting would be coordination. So, given the chance to create and submit my own budget proposals Continue reading...

Being a budget manager or a budget officer of a medium-sized property management firm can be a real challenge because there are simply a lot of things to consider. According to Shim and Siegel (2009), “the first step in creating budget is to determine the overall or strategic goals and strategies of the business, which are then translated into specific long term goals, annual budgets, and operating plans” . If there will be a particular aspect of budget management that I want my property managers and budgeting staff (assuming that I have been appointed as the General Manager of a Continue reading...

New dialogue on fundamental reforms has been raised again in EU. The president of the Republic of France plans to reduce taxes on business and make some more moves toward liberalization of economy. It sounds pretty interesting due to the fact that he participated in elections with completely different moto in the nearest past. Even the Prime Minister of the Republic of France Manuel Valls traveled over Europe to communicate and confirm this message. Even such countries as Spain, Greece and Portugal report economic progress as a result of liberalization.
On the one hand, this fact should give some Continue reading...

Variance Analysis

According to the statement of operations provided, personnel expenses that have a negative variance were managerial/professional personnel expenses that had a negative variance of $750 that resulted from actual expenses of $ 8500 against a budgeted amount of $7750. Net salaries and wages had a negative variance of $550 due to budgeted and actual amounts of $9750 and $10300 respectively. Benefits had a negative variance of $200 from budgeted expenses and actual expenses of $1200 and $1400 respectively.

Possible Causes of Negative Variances and Proposed Solutions

One possible cause of negative variance is under-budgeting. This means that planned amounts for use were lower than the expenses. This would Continue reading...