Budgeting College Essays Samples For Students

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 of measuring performance. In ...

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 by ...

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 ...

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 from ...

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 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 et al., ...

‘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 ...

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 budget is the effect ...

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 ...

Ethics are the values, principles, and beliefs that describe the right and wrong behavior and leadership can defined as the process of inspiring people to achieve goals. Therefore, the ethical leadership can be defined as the process of influencing employees, colleagues, or others through their values, beliefs, and principles that are termed as the right behavior .
The organization may face challenges due to ethical issues in budgeting process. Budgeting can be defined as the process in which the company allocates financial resources to different department of the company. Decisions are usually made are based on values and priorities ...

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 ...

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 ...

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 prominent property management company) to focus on, ...

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 imply a mistake in forecasting by ...

Every person is born with a different mindset and thinking in this world, and on the basis of this mindset and thinking, they will take different aspects accordingly. On the basis of the mindset, an individual will select a desired career for them. The clearest intentions behind selecting and addressing a particular career depends upon the fact that how much future benefit it will give or arise for the individual in particular (Peterson, Fabozzi & Habegger, 2004). The aspect of return on Investment (ROI) is the most important aspect that strides under the analysis of development or pursuing a career. In this particular assignment, ...

I like the way you have structured your essay. It is very simple yet very concise. I agree with you that decisions on teacher’s credentials and their placement on different classes should be made during staff meetings. I am also in agreement with the proposal that fundraisers be used to provide materials and supplies to the Physical Education program. Parents want their kids to participate in physical education and, therefore, your suggestion that the support of parents be sought after is also very viable. They might even be willing to pay for the entire program. As you have ...

Introduction

Kelsey does face new budgetary challenges. That the federal government has reduced the federal pass-through money at a time when crime in the state is increasing and there is need to revamp the state’s police force and infrastructure does not help. But most importantly, the conflict of interests on this matter might make it even harder to arrive at a conclusion that helps the state. This paper discusses the various elements of Kelsey’s budgeting process under the circumstances mentioned: ethical issues; changes to the budgeting cycle (preparation, execution and evaluation); new budgeting approach and it addresses the problem of ...

- 2010 Budget and assumptions
Budgets are useful planning tools that act as a guide to an organization’s operations as well as an evaluation benchmark for the operations’ progress. In that view, Patton-Fuller Hospital’s budget for the year 2010 is shown as follows.

Notes:

The 2010 budget projections show that the hospital’s total revenue is expected to increase by 3%. On the other hand, the total expenses are projected to increase by 1.28%. Thus, the overall performance is projected to improve from the 2009 projected loss of $373,000 to a profit of $8,015,000 in 2010. ...

Importance of budgets

For the effective operations of the company, the budgeting process is considered a prerequisite. It is a detailed plan to evaluate the incomes and expenses of a business in the forthcoming period. A budget provides a realistic outlay for the expected earnings and spending pattern of the business which facilitates the planning and control function of the management. Through this activity, a company can segregate the total outlay for each business function and this can save precious time of the management on planning the capital resource management for each activity. The major benefit of making a budget is an effective control over the company expenses ...

Importance of Budgets and the Budget Process

Budgeting is a planning process that involves laying out predetermined ways of spending either personal or organizational funds. Budgeting arises from the need to allocate funds in a logical manner taking into consideration that there always exists unlimited wants and limited resources. The budgeting process is closely linked to the creation of a scale of preferences of the various ways in which funds can be utilized. Therefore, budgeting helps in ensuring that the basic needs are addressed prior to misappropriation of funds on less important costs. Budgeting helps to address the issue of urgency in meeting various costs that a person or business ...

Problem:

A company is considering two projects, Project A and Project B with different cash flows as disclosed in the table hereunder:
However, since the company has a limited budget, it can only invest in one of the project. Thus, the managers of the company take the help of capital budgeting techniques, NPV analysis and Payback Period.

NPV Analysis:

The NPV is the sum of the present values of all the expected incremental cash flows if a project is undertaken. The discount rate used is the firm’s cost of capital, adjusted for the risk level of the project. In other words, the ...

Introduction

Proper budgeting and analyzing of finances is essential in ensuring the success of projects. Institutions, in most cases, tend to face many problems and challenges in their financial management. Misappropriation of funds is likely to lead to financial gaps since the intended purpose will not be met. This will eventually lead to the activities of the institution being paralyzed, affecting the institution negatively. Budgeting is a crucial element of accounting in that it gives institutions guidelines on how to use the available resources effectively without experiencing shortages. In the modern time, however, some trends, challenges and dilemmas are faced in ...

Budgeting DB 2

Budgeting DB 2
The quantitative or financial plan for the coming period of the business is called the budgeting of the business. The budget plays an important role in the planning of funds allocation, responsibility accounting, and motivation of the employees and the control of the business. On the other hand the forecasting is the judgement or estimates made by the management of the business for the coming period. In forecasting the management utilizes the probability, trends and the previous outcomes of the business to estimate the future outcomes of the business. (Ashe-Edmunds)
Cash budgets are the ...

Budgeting

About the company
The budget presentation
Budget and its Importance. Before presenting the different types of budget, it is important to establish first what a budget is and why is it important for the company. A budget is a financial translation of the company’s plan. It includes the annual target for sales and estimated expenses to meet the target. While creating a budget can be tedious, it is a critical management process due to its primary benefits: (1) It serves as a guidance to all employees on what is the financial expectation in each department to achieve overall company objectives; (2) ...

Budgeting; I Can Business Incorporated (ICBI)

Financial reporting system
Financial reporting system is the organizational management processes and the procedures that exercise financial control and accountability. They ensure recording, verification and reporting in time for the results in the transaction. This is concerned to the revenue, expenditure, assets and the liability of the organization.

Components of financial reporting

There are several components of the financial reporting systems. They are categorized in the manner they can be assessed. This is whether in the reporting studio or the workspace. The both can also access some of the components. To start with, the first component is a book editor. This is assessed ...

Introduction

A properly budgeted for advertising is imperative for both new products and even the already existing products. There are factors making it difficult to come up with accurate advertising budget. This project highlights key factors that affect advertising budgeting (Cliche, 2012). Among other things discussed is, the importance of advertising media and creative department working together, and the place of public relation in marketing.

Discussion

Advertisement budgeting is crucial for business as it increases the level of sales, which translates to higher revenues. However, management team usually finds it difficult to come up with advertisement budget due to a number of ...

Introduction

Budgeting is a key aspect in finance management and acts as a guide to organization’s planning for management and those involved in operations and running of programs. In that respect, an effective budgeting process is suitable for any organization that seeks to achieve its finance objectives through a suitable resources’ allocation. In that view, several authors have varying arguments on different aspects of budgeting hence the objective of this analysis is demonstrating applicability of such views. To achieve the objective, the analysis uses Morrison’s business and critically evaluates its budgeting process in reference to the views that tight budget times ...

Critically Evaluate Budgeting as a Tool for Planning and Control

A budget can be described as the quantitative expression of the management’s plan for the future of a company. Budgeting involves formulating and implementing plans to attain organizational success. It does not just involve forecasting. It also entails converting the forecasts into numerical values. When budgeting is done properly, it can act as the planning and control system of the company. The functions of management include planning, controlling, staffing, organizing and directing. Budgeting is basically deals with two management functions: planning and controlling. The management of the company must plan all the activities of the business. It must formulate ...

Budgeting is the process whereby a list of all the planned and feasible revenues and corresponding costs is written down for a specific period of time in the future. It is a plan according to ones expenditure needs whereby all the necessary expenses are noted and a spending trend is established. This plan that is developed help prior understands whether on will be able to meet the spending needs and whether there will be enough cash resources available to meet the needs. The working principal for the budgeting process is simple i.e. all the expenses to be incurred are weighed and balanced against ...

What is the operational purpose of a budget? Who should be involved in the budgeting process and why? How does the correct identification of cost behavior (i.e. fixed, variable, and mixed) impact the accuracy of the budget? Who should be held responsible for budget variances? How should budget variances be researched and explained?
The budget is a financial document which aims at identifying and explaining the cost of the project in details. In addition to this, it also serves the purpose of identifying the extent to which the organization is being managed well. If a budget has been poorly prepared, several ...

Every business needs to store their information related to the entire business together and at some point almost all the businesses required to do data analysis to perform better in the market as compare to their competitors. However, every business does not have ability to acquire advanced software to do analysis because of their limited budget. The solution to this problem is Microsoft Excel as most of the people have it on their computers and a large amount of the systematic work can be done with the help Excel.

Different uses of MS-Excel

Wage Calculator
Many small businesses use MS-Excel as a calculator to ...

Since Money Cares is an investment organization, the fiduciary responsibility lies with the organization. It has an ultimate obligation to safeguard investor’s money. Erratic and sporadic spending without proper regulation or monitoring will detrimentally affect the company’s financial status. The final effect may be that the company may become bankrupt and eventually shut down.
One potential risk facing Money Cares is the company risk which normally occurs when companies make bad or ineffective business decisions. The bad decision made by the company in this case is overspending and lack of monitoring which could have a serious effect ...

1. Emphasize the relevance of the particular case under discussion. Why should students spend their time reading it? Why is this case significant? Why is this case with this article?
The case is relevant in the sense that, it helps the students to understand what political budget appertains as well as the process and purpose of budgeting. It can be scrutinized that budgeting helps to ensure that there is a balance between public revenues and expenditure. Whereby, the government establishes a budget by first taking into consideration whether the available resources can meet unlimited public needs. Based on the case ...

A budget refers to a spending plan for a given individual or a corporate body it shows ones priorities in respect to spending and the source of income. It consist of Income and expenditure in relation to that income such that we can have three scenarios, the first one being the balanced budget where the Income matches the expenditures, the second option is where the income exceeds the expenditure which symbolizes a surplus budget and finally a deficit budget where the expenditure exceeds the planned income. Public budgeting in this case refers to statement of priorities in relation to expenditures and revenues for a particular ...

Budgeting is an important aspect of financial management in institutions, households and at the national level. A budget outlines how an individual or institution plans to allocate its available resources to address its needs. There are different forms of budgets depending on the kind of institution, the aim of the budget and the size of the budget. These budget types also take different formats to suit the objectives of the budgeter. There are four major types of budgets that are commonly used around the world today. They include; the responsibility centred budget, the NOAA’s program budget, the entrepreneurial ...

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 the budget, one ...

In every successful business, a company must have a plan in place that outlines their plan of action with their available resources. The purpose of a budget is to provide a blueprint or a plan of action that helps to show the master financial plan. The budget typically contains the cash flow budget, the operating budget, and capital expenditure budget. The budget is the purpose with providing a formal estimate of present and future costs and revenues. Costs and revenues need to be broken down in detail in order to attain profit goals of the company. Companies conduct budget analysis of their operations in order ...

Abstract

The paper details the managerial approach by the finance director for collating budget data for the company ABC Pty Ltd. The paper further discusses the effectiveness of the budgeting methods and the significance of flexible budget for the company.

1. Introduction
Budgeting is the most important function of financial managers as its effects are visible for years and it is used to define strategic direction which helps to move the company into new products, markets, services which must be preceded by expenses. The budgeting process involves collection and consolidation of contributor revenue projections and expense resources. The main ...

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 ...

Over the years, budgeting has been considered as the one of the most important functions of accounting and management system. However with the passage of time, the focus of management has changed from traditional budgeting to beyond budgeting. One of the reasons for this change is that organizations have realized that investing resources and time in preparing budgets is not fruitful.
The research will therefore be analyzing the reasons why organizations have started to change their focus from the traditional budgeting to beyond budgeting. This report will define what traditional budgeting is and its uses in organizations and ...

Executive Summary

If an individual understands the budgeting making process and the manner in which the budget is assembled, then he or she will find the document to be making sense. Moreover, it will be possible for citizens or the public to influence budget making decisions. Therefore, this report endeavors to explain the budgeting making process as well as how the public can get access to it and be involved in the budget making process. Even for those individuals whose interest in spending by the City is only limited to knowing general procedures in the budget making process and what happens ...

Part 1:

There are a lot of changes that can be conveyed to the board of directors regarding the upcoming events. The detailed budget that has been prepared can act as a guide for the management to understand what steps need to be taken, and how things are to be implemented in the company. Mr Wiggins should take the board of directors into confidence that the overall position of the company is strong and it can continued to operate according to the basic accounting principle of going concern. The company, therefore, need not to display its assets at the par value in the balance ...

This paper presents the budgeting systems of the IDEAL Science & Technology Development Company. Budgeting refers to the process of quantifying the plans of a company with a sole reason to enable it achieve its objectives in the stipulated and defined period (Axson, 2010). Basically, the result of the process of budgeting is termed as a budget. A budget is of importance in areas of cost control, performance evaluation as well as for future decision making. Its planning and control is seen as a short term qualification and monitoring of a company’s long term plan. A strategic plan shows the core objectives to be ...

Discuss the advantages and disadvantages of preparing a participatory master budget.

The concept of budgeting is essential to business management. In theory, the term budgeting is the process of developing a quantitative plan in which an organization identifies its resources and determine ways in by which to use these resources to attain the goals of the organization . Resources that are included in the budget could either be financial or non financial. Thus a budget that includes both the operational budget and the financial budget is referred to a master budget. Depending on the industry that the organization is involved, master budgets tend to have different components, for example a manufacturing business will have a production ...

In San Diego, there prevails an association of the regional cities and county government regarded as SANDAG. As an association of 18 cities coupled with county government, SANDAG entails San Diego association of governments. The public agency serves as a plausible forum inculcated for the regional decision-making facets. SANDAG constructs consensus, inculcates strategic plans, acquires and allocates resources, plans, engineers, and manage the construction of public transportation. Moreover, the public agency provides extensive information on a vast range of topics that are impactful on the pertinent region quality of life. As such, the public agency is focused on the improvement of ...

Higher Education

Q. 1. Compare and contrast two budget philosophies in higher education. How are these philosophies able to reach the same financial planning goals of a campus? How should the institution's budget philosophy align to the institutional mission?

A. There are two common approach in higher education budgeting, the Incremental Budgeting and the Responsibility Center Budgeting. To compare the two, the university revenues in IB approach is being deposited in the university's general fund and the central authorities will be the one to do the allocations and determine how much budget each individual group will get. On the other hand, RCM ...

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 fixed ...

Budget management analysis

Intensive care units are a costly resource accounting for nearly 10 to 20% of hospital expenses and 1 to 2% of the gross national product in the US. Continuous reforms in the health care sector targeted at improving the quality of health care while lowering its costs have been witnessed over the last several decades. ICUs are expensive mainly they are labor intensive and they involve expensive treatment modalities. The fact that ICUs consume about 10 to 20% of hospital budgets whilst caring for only about 5% of total inpatient populations in hospitals decries the need for containment of costs ...

Personal budget is one of the important documents that help in distribution and allocation of resources. It is worth noting that a people have problems allocating their resources. It is worth noting that people have problems in life, especially when they have jobs and many responsibilities. Individuals in some countries graduate with many debts, making it very difficult for them to allocate their limited resources and income. Life can sometimes prove to be very complex. As people grow, and responsibilities continue to increase, individuals tend to realize the importance of personal budget. Not keeping personal budget can lead to the ...

Introduction

Every institution must have a budget team to oversee the spending of money. Without this, transparency and accountability will not be promoted. This may lead to embezzlement of funds by the op management, leading the institution t bankruptcy. Institutions that have strong teams to oversee the implementation of the budget have always been successful. His is because they have a strong foundation on which to make progress without limitations. The Massachusetts Institute of Technology (M.I.T) is one such institution which values the importance of accountability and transparency in handling financial matters. Because of this, the institution has always been on the safer side. ...

MANAGEMENT ACCOUNTING

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

Question One: Public Budgeting

The budgeting process goes through different stages. It goes through five strands namely the decision making, revenues, processes, balance and implementation. In all these process, Rubin asserts that the chief tension would often be between public accountability and public acceptability. While public accountability refers to the implementation of the budget through expenditure as agreed in the budget, public acceptability refers to the concept of incurring expenditure as per the wishes of the people, that is, the taxpayers. However, the budget process is complex and complicated making the interface between public acceptability and public accountability uneasy. It is on that ...

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 representation of ...

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 included ...

Sequestration and the Government Shutdown of October 2013

Sequestration is a budgetary process in the United States under which limits on the federal budget are imposed. The process of sequestration involves setting a cap on the amount of spending that the government can undertake at any given period of time. The capping of the government spending is not a blanket one and it targets specific categories of expenditure.
Budgeting in the federal government of the United States is carried out through a process which involves both the executive and the congress. The executive arm of the government prepares a budgetary estimate of expenditures covering a specific period of time and the congress, ...

Personal Finance

Personal Financial Plan
Introduction
A person’s financial success is determined by his ability to allocate and utilize his own financial resources. Planning is an integral part of every person’s future aspirations for a better life even retirement. However, financial planning is not as simple as outlining the current personal assets versus liabilities because similar to business financial planning it also considers both external and external environmental attributions. Internal factors vary from risk tolerance, projected financial situation, discipline, goals, spending, saving and investment patterns and consumption. On the other hand, external factors include social, legal, political, taxation ...

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 deadlines, possible ...

Introduction

Most organizations and businesses have come to accept budgeting as one of the most efficient method for both short-term planning, co-ordination, and control. A budget is defined as a formal quantitative and/or financial statement that describes the organization’s future operations as projected (Warren, Reeve and Fess, 2005). Budgets enable an organization to know clearly what it plans or intends to undertake during a particular accounting year or a part of it. Thus, a budget serves as a yardstick against which the management can measure the actual results (Bamber, Braun and Harrison, 2008). To management accountants, the budgeting technique ...

The budget cuts debate has been a major topic of discussion for some time now with both the public and private sector involved. The real effects of these budget cuts are beginning to show with every agency revealing the harsh effects that those cuts are going to bring in the near future. The USAID has estimated the death of 70,000 kids due to H.R.1 with 30,000 of that being as a result of Malaria control programs. “USAID estimates that reductions proposed in the 2011 House Republican budget would prevent 3 million malaria treatments. Because the disease is misdiagnosed about ...

Private business sectors have played a major role in the economic development in the United States both in terms of big enterprises and small scale businesses. This is particularly after the economic regression that had affected the economic development for a long period of time until 2009 when the recession had ceased. Private sectors have created vast employment opportunities as well as contributing greatly to the government revenue through payment of various business operation taxes.
Small businesses in particular have helped in reducing the economic imbalances whereby the low income citizens are able to start small businesses and at the ...