Essays on Budget

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...

Part I

Answer 1
It is a static budget in since the planner had already set the expenses together with the expected revenues. The fees each student was to pay had already been determined and accounted for. Each student was required to pay, the estimated grants to expect and the expenses that would go to salaries, purchase of equipment and other miscellaneous expenses.

Answer 2

The total revenues for the 120 students less grants was 802,567-(50,000+10,000+5,000+10,000) =727,000. Total revenue per student727,000/120=6058.3333. The total revenue less grants for the 100 students was: 681, 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...

The total budget of the United States is comprised of the off-budget and the on-budget. Off-budget are parts of the budget that have trust funds. This is for instance social security fund, and Medicare. On the other hand, parts of the federal budget that operate without a trust fund are referred to as on-budget. A deficit or surplus in the total budget is influenced more by the on-budget than by the off-budget such that, a deficit in the on-budget increases national debt. Much of the history of the history of the United States of America from 1930 to 2011 Continue reading...

Budgeting is a crucial aspect of any institution or government’s operations with an aim of enhancing goals and objectives’ achievement in line with specific environment and needs. Thus, budgeting is greatly guided by policies that define the suitable actions in line with set goals and objectives either in response to changing environment or as a way of fostering opportunities’ utilization. In that respect, governments have budgeting planning that is specific to their constituents’ needs and that defines the objective of this analysis which seeks to demonstrate the budgeting process for a State in view of its status and Continue reading...

The project management approach in solving construction issues involves stakeholders such as leaders and end-users. Therefore, a project manager is a vital player in making the most of the potentials in the construction projects (Hills and Fox, 2009, PP.5). It is the role of Hodgkins to ensure that the project objectives and requirements are accomplished on time and within the budget of the Regency Hotel Group. Hodgkins has the role to discuss the project with regard to planning and delivering project-related tasks within a particular time frame and budget (Meredith and Mantel, 2009, PP.90). This is so because she 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...

Introduction

The Krona Community Hospital, founded in 1977, is a 60-bed, acute care facility, which is situated in Banconota County. The facility presently offers a full range of care services and maintains a staff of around 400 workers, 100 physicians and specialists and several volunteers. Nouveau Health, which is a private, non-profit health care chain, has acquired the management of the Krona Hospital. The new facility will have 74 acute beds, which are entirely private, four observation rooms, a 24-hour emergency center, four surgical operating rooms, intensive care unit, and maternity department that will have one C-section room. In addition, Continue reading...

Management of Working Capital Case Study: George's Trains

Executive Summary
Actionable information on the future and current cash flow, working capital, and capital budgeting are what managers in both small and big businesses work hard to obtain in their daily activities. Working capital is can be used to measure up the liquidity of the operations of the business (Sullivan 2010). It is usually the current assets subtracted from the current liabilities. Managers are normally concerned about working capital and would always seek the best practices to achieve a better working capital management. This report tries analyses the case study of George’s train business with an aim 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...

Sephora Direct Analysis

Introduction
Sephora was started in France in 1969 as a single perfume shop. By 2010, Sephora had nearly 1000 stores in 23 countries, of which 450 were in the US and Canada. It has a retail presence in 36 states.

Sephora’s Marketing Objectives for 2011:

After looking into the case study of Sephora following marketing objectives can be analyzed for 2011:
- Increasing the product awareness among the targeted and potential customers
- Encouraging customers through attractive means to buy the product.
- The main objective of the company must be to focus on the social media platform and focus on increasing the sales 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...

Thesis proposal

Green Valley School District (GVSD) holds the position as one of the top schooling districts in the state. This position arises out of its commitment at providing quality and diverse training programs for the district’s teachers. However, and because of an intended downsizing of the budget, the superintendent is concerned of the program’s effectiveness, and the individual contributions each program has compared to its cost, and with a view at reducing funds allocated to its sustenance. This study will evaluate the perceived impact of each program in relation to how the teacher’s regard its contribution to 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...

1) What will happen as a result of these cuts?
If the House of Representatives go ahead and approve the bill which seeks to cut the budget allocated to food stamps, the empirical effect will be very visible. First, benefits to the poor will reduce by about 90 dollars a month. This is likely to affect over 850,000 households that depend on these benefits, most of which are in California. Another effect is the fact that the people who are homeless and without any source of income will suffer. These people are usually given about $176 allotment of 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...

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...

Management finance

Part A:

According to the case, Charles Ltd. Department, because of the implementation of the new budget system is faced with the increased workload. This is because the system is effective, the department's power to enact budget Charles Co. said their goal is to estimate and predict facts (Fabozzi and Peterson Drake, 2009, pp.15-25). These must be analyzed by the selected company's management to ensure that they can achieve a reasonable and reflect reliable data. This concept would increase work that was previously absent in the departments.
In many cases, this requires expert who is an estimate of 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...

 “Budgetary control is part of overall organisation control and is concerned primarily with the control of performance. The use of budgetary control in performance management has of late taken on greater importance especially as a more integrative control mechanism for the organisation”. Critically evaluate this claim, supporting your discussion with both theoretical arguments and practical examples.

Introduction

The primary objective of budgetary control is to plan and control an organization’s activities in the short-term as opposed to the long-term corporate and strategic planning with broad objectives. While the short-term plan may be for the objectives for the subsequent accounting Continue reading...

Question 1

The nature of communication between the coaches and also the media is very significant. The communication would help me as the director deal easily with the issues which currently exist in the university especially in the sports department. I will make sure I consult each coach of every sports in respective in order to get information regarding the sports that should be eliminated. It is obvious that a few sports should be eliminated from the university since there is the deficit in the budget.
The media always wants to be the first to have updates and publish them but Continue reading...

Making a remix EP

Background of the study
The 21st century has seen a transition in the music industry in the sense that musicians have had a tendency of pirating music that belonged to a different party. This has been encouraged by the public listeners that have developed a passion for unoriginal music. As a result, musicians whose songs are remixed normally come to some sort of agreement with others with the interest of remixing their songs on order to legitimize the procedure.

Statement of the problem

Despite the formal agreements between original music owners and prospective second owners through remixes, there has been a debate on 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...