Budgeting Course Works Samples For Students

Question one: static, flexible and activity based budgeting

A flexible budget incorporates elements of change in the level of activities of the firm. The budget allows for its application even in the events the level of activity deviates substantially from the initial expected level of activity. On the other hand, the static budget is geared toward one level of activity. As such, the budget does not find application in scenarios where the activities deviate substantially from the expected level of activity. Activity based budgeting, on the other hand, employs the process of budgeting through the authorization of the activities which facilitate the attainment of the budgeted activities. ...

Task 1

Explain the nature and role of accounts. You need to also explain why James and Rebecca need to produce accounting information in order to make financial decisions.

Answer

Accounting is the process of identifying, measuring and reporting economic information to the owners of business and all interested parties (Joel, 2008). Business transactions have financial implication on a business in both short term and long term (Frank & Allan, 2005). Some of the transactions are sale or purchases of fixed assets or current assets, paying of business expenses, and settling current liabilities among other business transactions. Accounting involves identifying, measuring and reporting ...

Non Financial Performance Indicators

Financial measures of performance may mislead the stakeholders because they only tells us about the performance of prior periods but in order to gain a wider perspective of performance the following Non Financial performance Indicators would be appropriate;

Competitiveness

The company should evaluate its sales growth by products and services in order to understand its market share and size of customer base. There is a possibility that company has more expertise in the assembling of plumbing parts. The import of final products is a general business and always has threats from new entrants. It is also necessary for a company to find out its ...

Question 1.

The finance and budget constraints placed by the California government to its local government includes the revenue collection and revenue transfers. The local authority is supposed to collect revenues over a defined region. The revenue collected is required to be transferred to the state budget and financial authority for allocation. The local authority is required to use revenue transferred from the government, to finance its expenses. The state has an established a revenue transfer system that helps to monitor the revenue use at the local level. This helps the state to meet its budget expectations. The highest local expenditure which is ...

Question 1:

Michigan’s State budget (Snyder & Nixon, 2012) falls under the incremental budgeting classification that is also known as traditional budgeting (Jacobs, Hélis & Bouley, 2009). In the budget, it is clear from an excerpt from The Detroit News editorial of January 17, 2011 that there was a call for Michigan’s leaders to change the usual adoption of previous years’ income/ expenditure and making fine adjustments to an overhaul of the whole budget, leaving nothing untouchable (Snyder & Nixon, 2012, p. A-8).
The State of Texas’ budget (Dewhurst & Straus, 2011) also falls under this category of traditional budgeting classification (Jacobs, ...

Tax Expenditure Budget: State of Illinois

Tax expenditure denotes the various tax breaks such as exemptions, credits, abatements, among others that are granted to individuals, institutions and various agencies for the common objectives of promoting equity and other taxation principles. In other words, tax expenditures have the predictable impact of reducing the revenue base which, otherwise, would have been derived from the forgone taxes. The tax expenditure is guided by a budget and the implementation reports are availed under the auspices of the Office of Comptroller of Budget of the State of Illinois. According to the available information, in the fiscal year 2011 alone, state agencies ...

The state budget of Arizona combines both the one-year budget and the two-year budget. A fiscal year (FY) runs from 1st July to 30th June of the following year. In this work, I am going to consider the fiscal year 2008-2009 and the factors that influenced its budget. The factors can be said to be political, economical, social, and cultural. However, they can broadly be grouped as the economic and demographic factors, the fiscal structure, and the political decision making.
In every fiscal year, both the two budgets (one-year budget and the two-year budget.) are adopted. However, in ...

The organization will be of a retail nature and it will be named Taste’s Locality. The naming of the organization is based on the products and services sold in this organization. This organization will actively serve baked potato sticks on the go and this will allow consumers to get a quick bite snack, which contains baked potato chips on a barbeque stick. The organization’s mission is to change the general outlook of the consumers of consuming potatoes and offer them a more healthy and convenient way of consuming potatoes (Alexander, 2011, pp 17). However, the organization’s vision is to accumulate ...

Introduction

Budgeting is regarded as a business management device that is used by various institutions in order to control their spending and maximize profitability. The budgetary analysis model analysis assists in evaluating the annual budget, which shows the planned expenditures, hence able to determine the institution’s revenue objectives. By formulating a thorough budget, department such as Radiology department, is in a better position to make critical decisions about choosing the most important expenditures and eliminating those expenditures that are not important (Palmer 2012).

Therefore, the management has to effectively apply the budgetary variation model to determine the unfavorable and favorable variances. In ...

Introduction

Budgeting performance is crucial in determining an organizations ability to serve its core purposes among them customers and employees’ satisfaction. In addition, understanding the relationship between accounting, finance and the organization’s operating budget is crucial as it enhances strategic planning in view of all the three aspects. In that view, this study demonstrates how the budget performance affects employees’ satisfaction and patient care with reference to Patton Fuller Community hospital. In addition, the analysis explains how accounting and finance are related to the organization’s operating budget.

Analysis

- How the budget performance affects patient care and employee satisfaction

The plan to increase the nurse pay by $1 while retaining ...

A financial reporting system refers to an established system of presenting an organization’s financial data, its operating performance and its flow of funds for a given accounting period. This system is guided by a set of accounting standards that dictate how particular transactions are reported in financial statements (Miller and Bahnson, 2002). The major components of financial reporting systems are the balance sheet, income statement, statement of retained earnings and statement of cash flow.

An operation budget is essentially an estimation of operations costs. The management can use this type of budget to measure variances with the actual operation costs ...

Introduction

The primary purpose of this project audit method is to carry out a systematic inspection of a point-of-sale at a hotel to assist in automating services. The hotel has for a long time been using an over-the-counter register in its interactions and a manual inventory for its suppliers. The new technology offers a new way by which to increase the speeds of transactions and accuracy of the orders. Installation of the new electronic point-of-sale is done in a bid to maximize customer experience and take control of the inventory, and secure the systems at all points of entry. The electronic point-of-sale would enable the management of ...

- Budgeting helps in making proper planning decisions leading to efficient and proper utilization of resources within an organization.
- It helps in coordination of different departments and activities within an organization so as to achieve desirable performance.
- Budgeting encourages division of work among workers and specialization resulting to increased efficiency.
- Information provided in budget estimates helps decision makers to make well informed decision making.
- Budget enables management to compare the performance of different departments within its business.

Difference between a continuous budget and a perpetual budget

Continuous budget allows for revision of information contained in the budget once the period ...

1. Discuss budgetary areas that raise concern in the budget planning.

The master budget made by Competition Bikes Inc. is quite sound however there are certain issues that have come forward from the budget. The issues have been briefly described below. One of the prime concerns is the timing of the budget. They have not been divided quarterly although cycling is a weather dependent sport and is affected by seasonal fluctuations. By separating the budget quarterly will allow us to have a better idea of the peak and the off-peak seasons and will allow the company to make more informed decisions. This may also allow the company to maintain an inventory level ...

Part I Organizational Structure

The structure of the organization is a plan layout of how responsibilities, activities and duties of the organization are to be carried out. Hence, the structure of the organization defines how certain aspects of the operation of the firm are organized towards the achievement of the goals and objectives of the institution (Pugh, 1990, p. 64).The organizational structure usually details the roles that each part of the organization is mandated with which includes individual responsibilities (Russell, 1992, p. 640). The Island Urgent Care (IUC) organizational Structure is a lean structure with a hierarchy that is headed by the founder Robert Ruggeiri, ...

The cost which the organization incurs the production and acquisition of products and services which it intends to sell is very important. The pricing strategy of the organization is significantly affected by costs. Therefore, costs designed to tackle the challenges of the economic and the noneconomic factors very efficiently. The objective of the costing models is to categorize the factors of the marketing objectives of the company and the mission of the company (Gitman, 2003).

Accurately determination of cost is important in organization to remain profitable. Costing does not only require including direct and indirect cost associated with business ...

Strategic Plan: Resources for Professional Development Plan

When building a strategic plan for a professional development program it is important to have support, time, people, understand financial constraints and determine if the educational needs to develop staff are being addressed. The purpose of LMC’s strategic plan is to balance the organization with the external environment, and maintain a balance for an extended amount of time (Marquis, & Huston, 2012). This balance will be achieved through the evaluation of the program and services while keeping the facility to its maximizing performance capabilities (Laureate Education, 2013). To attain optimal functioning, there must be flexibility and adjustments made to the strategic ...

Part I: A Problem Exists

In the past few decades, the debate regarding payment for college athletes has become a pressing issue for higher education, necessitating a deeper look into the consequences of paying college athletes such high amounts for their playing. Currently, the NCAA’s rules and regulations regarding student athletes’ compensation include a no-pay rule; NCAA member colleges are forbidden from sharing revenue with athletes, leaving the payment and budget to go to coaches and faculty (Edelman, 2014). However, the possibility of paying student athletes raises many different arguments. Some argue that the emphasis on athletics in the higher education experience has left other departments ...

1. This case concerns decision making with regard to public budget in order to arrive at a decision that competently addresses the financial needs of the Gaston county of Carolina state. The case involves finding means to balance budget requirements in order to arrive at a suitable budget that precisely addresses financial situation of Gaston County.

2. The political context of this case revolves around seeking the most appropriate procedure to address the needs of the public. For instance, debates are raised regarding whether or not to increase taxes. Elected county commissioners are bestowed with decision-making responsibility in order to harmonize ...

Submit a draft of an event budget for the event you have chosen for your final project (Wedding). Your event budget will indicate the needed funds to operate the event. Submit a draft of the event budget for your course project.

The final project undertaken is the wedding event. Since the program is done at the personal level the event is not-for-profit event and the inflow of fund is exactly matched with the outflow of fund. Here the income for the event is inflow of fund out of which total expenses is made. There is no markup percentage in-between of the ...

Part I.

According to Hermanson (2011), static budget is based on the projected level of output and does not change significantly with the changes in activity, while flexible budget provides different cost levels, depending from the projected amount of output.

We may claim that Charter School Budget is flexible, as it suggests several scenarios, and reflects changes in cost structures depending on the amount of output. We may also observe that total revenues of the charter school are divided into two different types: revenues and grants. While the amount of revenues depends on the amount of students enrolled, the amount of ...

SOCIAL NETWORKING AND TRACKING

Introduction

Social Networking and tracking is a new innovation in the market. There are companies that perform these functions but with different perspectives. As an entrepreneur, the steps taken to establish and enterprise contributes a lot to its success. For an innovation idea to grow and bear fruits, a market research has to be successfully done. Carrying out a market research in the social networking and tracking industry is very essential for any aspiring investor in this industry. Being one of the recent industries it is marked by stiff competition from the providers of similar services, dominant players and so forth. This research ...

A developed country is known by the growth and the level of its economy. Economy of the United States is the world's largest single national economy. The United States' nominal GDP was estimated to be $17.1 trillion in December 2013. Budget deficit affects the taxpayers to a great extent this is because government spending exceeds all the revenue. This forces United States government to increase taxes on the taxpayers. The deficit affects taxpayers forcing them to dig deep into their pockets to increase government revenue. This will, therefore, enable the government plan for its appropriated financial activities. The government will ...

Part A

When evaluating healthcare insurance options with a view to selecting one, it is imperative to consider the cost of the insurance. This describes the amount of premium that I will be expected to pay, as well as the payment plan. This would enable me to choose the healthcare option that I can finance adequately, without jeopardizing the coverage of health risks (United Healthcare, 2013). After determining the cost of each of the available insurance plans, the second step would entail understanding the scope of coverage of each healthcare insurance plan. This would enable me to understand the health risks that ...

Cuts for Medicaid are a feature of the current administration’s efforts to reduce the budget deficit based on the rationale that spending for health entitlement programs will stretch the federal budget beyond its limits. This is because increased longevity is raising the number of the aged population while a rise in the poor is increasing the number of those eligible (Abramsky, 2011). Budget cuts mean that some services would need to go. As a manager of a county clinic servicing Medicaid clients, it is my job to make the decisions as to which services would be eliminated. Optimal decisions must be based ...

What re some myths about family life in the U.S.?

One of the biggest myths about family life in the U.S. was the myth about the stable and harmonious families that was famously depicted in 1950, even up to some 21st century films wherein the father and every member of the family enjoys their life as a part of that family. The father works hard to provide for his family, while the mother simply does the household chores. According to Eitzen et al. (2009), most husband-wife relationships were empty and in reality, members of the society lived under single-parent family banners with step-parents taking care of them. Divorce was not ...

User fees are very important fees to the local government. They form the largest portion of the total percentage revenues collected by local authorities. There are different kinds of user fees depending on the purpose they are collected. There are four main user fees which are the highest of other user fees. In the Alabama state, these fees are; government entities and tax exempt user fees, chief counsel user fees, advance art determination fees and the installment agreement fees.

The government entity and tax exempt user fees are levied on organizations that exempt and Employee Plans. The fees are ...

Activity Summary

Projects initiation was the first activity that we engaged in. It was undertaken after a SWOT analysis of the hotel identified that the POS project was the most valuable and most favorable at that time. The next activities that followed were project scope documentation, project approval and signing off. These activities involved definition of goals and assigning of tasks. They also involved the dividing the project into baselines (technical, functional and management and cost baselines). Project plan execution involved a number of activities that included the following: getting bids from suppliers, auction, procurement closure, enterprise information infrastructure design, training of implementers, ...

How convincing is the proposition put forward by both these writers that coordination and motivation of business activity is achieved predominantly through organizations rather than the market and what relevance does this have for you as a student of

Management

Introduction
Coordination is the synthesized manner in which many related items are joined together to create a larger item and in unison have semantic linkages that are similar with the rest of the neighboring aspects (Olson et.al, 2001).

Taking for instance the Nigerian government, it has changing phases of governance. This is because of the poorly performing political parties that face ...

Q.1.What are the specific content requirements of typical business plan model? How can a well-written business plan provide a competitive edge?

If the purpose of the business plan is to attract investment then a well-written business plan can help attract investors which would mean greater funding for the company. A well thought out business plan can even help retain suppliers and customers. The business plan is considered as that one factor which sets an organization apart from its competitors.

Q.2.Explain how health care organizations use quality improvement techniques to guide decision making? Discuss the challenges organizations encounter in applying quality improvement techniques to guide decision making.

Health care organizations can use the six sigma method of quality improvement to help guide decision making. For instance in medical labs they can use this technique to maximize equipment utilization and increase efficiency as the equipment is expensive and return on ...

The project schedule has already been created as well as the project budget. This meet the criteria provided for by the project sponsor. However, two issues have come up. The first is a budget Cut. The client has instructed that the project costs must be reduced by 10%. The second is the loss of a Member of the Project Team. One of your team members is leaving the company immediately to take a position with another company

Milestones

General Information
Based on the project scope, the project developed should be a suitable project for the organization. It should support the processes, services, and ...

The use of Capital markets share to the markets where interest tax, along with stock and

Bond prices are settled on. It was also issued that the monetary organization could supply resources to businesses. Banks, venture banks, mutual helper funds, insurance organizations, they raise together “savers” who let their money to be invested and be assistance to the starting businesses, individuals, and other industry that needs funds for different purposes. Governmental organizations like the Federal Reserve System, which manipulates and deal with the financial support to those who invest to organizations like so. With Money market, securities are generally much protected investments, which could return with a low interest rate that is suitable for those ...

Each project possesses unique objectives and a design. However, there are characteristics that cut across all projects. These characteristics ought to be taken into account when coming with the objective of the project. To begin with, whenever a company or an organization wants to implement a project, there are several ideas that are floated by the concerned parties. These ideas are discussed and ultimately the ideas are developed into project proposals. The proposals provide insight into aspects of the project such as planning, budgeting and management of the project. In addition to this, the project proposal also includes a schedule within which the ...

- Evaluation of the Company’s Objectives

The corporate objectives of Aztec Catering, a company providing catering services to businesses, schools, colleges, hospitals and retirement houses in the United Kingdom are the following:

These corporate objectives of the company require substantial work to refine, extract and direct the company towards profitability, sustainability and growth. The first step in refining the corporate objectives of the company is to be familiar with what a corporate objective is. Faucett (2012), defines corporate objectives as ”statements of intent that provide the basic direction for the activities of an organization in pursuit of its mission.” This means that a corporate objective is a broad, ...

- Should taxes on alcohol and tobacco be increased to help pay for rising medical costs?

Thesis statement

In this topic, we are going to analyse the reasons why alcohol and tobacco should be taxed. I am in full support of the taxation of alcohol and tobacco. I am targeting the policy makers who govern budget making and the general public as well.

Alcohol and tobacco related deaths have been on the rise with the improved levels of lifestyles in America. More people are earning more so they have more income to use and sometimes it leads to drug abuse such ...

This paper will outline my financial plan. It will also put the plan into a budget that I will revise every year according to my financial consumption.
I am currently a graduate of Bachelor of Economics. I relied on the student’s loan and grants from both the university and charity organizations while in school to pay my school fees and meet my daily expenses. My inclination to student loans and bursaries was largely contributed by the fact that my family lived in reduced circumstances. I made it my obligation that I will pursue my education regardless of the obstacles ...

Every company prepares a budget plan for their accounting period. This helps firms to stay focused, and ensure resources are managed at an optimal level. If companies did not have a budget plan before beginning a project, they would face with difficulties that would limit the effectiveness of their performance. Standard costing is used alongside actual costing and is used in; budgeting, inventory costing, overhead application, and price formulation.

A budget always consists of standard costs as it is impossible to create a budget with actual costs. At the time of budget preparation, companies have to forecast costs and then these are ...

Profitability index is a variation of the net present value method. While NPV provides the absolute total amount for a project, the PI is a relative measure in terms of the ratio ...

Amortization of prior service cost listed under pension expense is an example of a fixed cost. Fixed costs remain unchanged due to changes in operations and this cost remains unchanged at $ 15 million in both 2012 and 2013 financial years. Amortization involves the paying off of a debt through a fixed schedule in regular installments. Interest costs are another example of fixed costs. This is because financing costs are fixed based on the rate agreed for repayment of debt. Any changes in the operations of an organization will not affect the amount of repayment costs paid out to both short term and ...

Question

Assume that the country is in a period of high unemployment, interest rates are at almost zero, inflation is about 2% per year, and GDP growth is less than 2% per year. Suggest how fiscal and monetary policy can move those numbers to an acceptable level keeping inflation the same. What is the first action you would take as the president? As the chairman of the Fed? Why? What would be your subsequent steps?

Answer

Analyzing the given data indicates us that this economy is suffering from the deflation. In another word, we see high unemployment, very low inflation and very ...

Introduction

Examining the Essential Need for Administration
Does Administration Help or HinderMinistry? Church Administration Policies
Organizational Charts
Church Budgets
Church Governments
Church Risk and Sexual Abuse
Conclusion

Bibliography

Church Administration Assessment Final

Introduction

Assessing the need for church administration has both a spiritually led rationale in accordance with the Holy scripture as mandated by the followers of Jesus Christ to the first Christian churches and a pragmatic assumption that any organizational leadership includes the responsibility of good business administration policies. Therefore, this assessment of church administration takes into account these as well as other different aspects as ...

Differences between managerial accounting and financial management

These terminologies are accounting terms that are commonly used by the management as they assess the financial performance of the company. Financial management is the management of funds of the organization in an efficient and effective way so as it may be generative and yield earnings. Managerial accounting is an accounting branch that mostly deals with confidential documents and reports that are usually for the top management use.

Financial management deals with the presentation of the financial performance and position of the company to the public/ external users who are able to gain information about the company through the ...

The first table presented a matrix of correlations coefficients for Exam performance, Exam anxiety and Time spent revising. It was found that performance in exam was negatively linked to exam anxiety; the Pearson Correlation was r = −.441. P value was less than 0.05 so this relation is significant. It was also found that exam performance was significantly positively correlated to time spent revising; r = 0.3967 and p < 0.001. Lastly, exam anxiety appears to be significantly negatively linked to time spent revising (r = -0.709, p= 0.000). The above Descriptive table presented the mean and standard deviation of all the four ...

Product

Pepsi Light is a PepsiCo ltd product that is among many of the company’s product. The product is an alcohol free beverage that is sold in stores, restaurants and other places. Pepsi Cola is a global product that received high sales and great market share due to the brand name which has existed for years. Pepsi light is associated with sports and mostly targeted to the youths between in different parts of the world. Pepsi light operates under the brand name of Pepsi. Pepsi Company uses the brand strategy for their branding strategy and their products also. However, Pepsi Light ...

Background

One of the things that police department are facing is the challenge of performance assessment. In order to clearly understand the context of effective policing, performance have to be measured and determine the areas in the organization that contributes to success. Unlike private organizations, police departments cannot use profit margins to demonstrate effectiveness (Reisig, 1997). There are several factors that need to be considered in order to say that the organization is performing on the right direction. In a police information technology department for example, there are strategies that works and some does not. It is crucial that police departments ...

Part I

Currently, one of the most significant controversies in American politics has to do with the discussion of the 2013 budget. The conservative party, the Republicans, wants to cut spending and, where possible, cut taxes, which they say will boost the economy. They also want to modify benefit programs such as Medicare and Social Security, because without changes, they will bankrupt the government within a matter of decades. The liberal party, the Democrats, wants to raise taxes to narrow the government debt while making more limited spending changes, and have not yet addressed the benefit programs. The Republican budget leader is ...

EXECUTIVE SUMMARY

Marketing management is one of the most important tools in any business’ industry as it ensures that the enterprise’s sales balance with customers’ satisfaction, and it is one of the best means to use in determining whether or not customers get reward for their money and expenses. Marketing ensures that a customer is well informed about the product he/she wishes/intends to purchase and this way the customer will be fully conversant with the product which he is about to acquire (Campbell, 2007, p. 92). This therefore becomes a very important aspect in tourism, bearing in mind that it is one ...

- Role of integrated marketing communications in the marketing program of a product such as Gatorade and How can Gatorade use the various IMC tools to achieve its objective of expanding into the sports nutrition market

Gatorade products include energy drinks and protein bars. The integrated marketing communications play an important role in the marketing program of Gatarode as Gatarode can use the various marketing communication channels such as social media, traditional media such as television, radio, newspapers and magazines in order to target the consumers such as young kids to persuade them to buy the product.

Gatorade can utilize various integrated marketing communication tools such as social media so as to attract the target customers towards the brand through sports related social media updates, the brand can sponsor sports related events and can also ...

In case, real GDP is lower than potential GPD expansionary policies are implemented in correcting contraction of business cycle. Expansionary Fiscal policy leads to increases in purchases by government, tax rate decrease and transfer payment increase to overcome contracting business cycle. Expansionary fiscal policy closes gap of recession, stimulates economy and decreases rate of unemployment.

Fiscal policy tools to stimulate economy are:

Government Purchases
Expenditures done by government sector for services and final goods come under Government purchases. Government purchases are part of GDP bought by the government. Government purchases include heavy cost expenses like highway construction and aircraft clips carriers to smaller expenses like ...

1. In this case, taking over is more advantageous. In the first place, the business has grown and requires specialized skills to manage. Taking the money will facilitate good management of the organisation and the current owner will benefit from the dividends from shares that are allocated to him. The current owner will also enjoy sharing of losses. In case, the new business makes losses, the losses are shared equally hence the current owner will not bear all the losses alone. The other advantage is that the business will now be able to access more capital and invest in ...

Introduction

The legislation proposition drafted with regards to the learning of English of non-native speakers of the language in the United States took effect in states of California, Arizona and Massachusetts (Mora, 2009). This legal proposition requires that English language learners learn English through an English structured or sheltered immersion for one year (Mora, 2009). The immersion program requires that learners study using the English language exclusively in order to enhance the fluency of the learners in the language. The legislation only allows students to study in classes using their native language as language of instruction in exceptional cases through a ...