order to make effective decisions and coordinate the decisions and actions of the various departments‚ a business needs to have a plan for its operations. Planning the financial operations of a business is called budgeting. Although budgeting allows the organization to plan their work and work towards their plan‚ it also has both advantages as well shortcomings that can affect an organization’s progress. The main advantage of a budget is it compels management to think about the future‚ which is probably
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6. Budget : A budget is a financial document used to project future income and expenses. The budgeting process may be carried out by individuals or by companies to estimate whether the person/company can continue to operate with its projected income and expenses. A budget may be prepared simply using paper and pencil‚ or on computer using a spreadsheet program like Excel‚ or with a financial application like Quicken or QuickBooks. The process for preparing a monthly budget includes: • Listing
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Introduction to budget A budget is a financial plan for business‚ prepared in advance. It is defined by cima as ‘a plan expressed in money’. Cash flow forecasting is the process of estimating cash inflows and cash outflows over a period of time‚ usually for a period of 1 year. Cash Budget is the process of estimating cash inflows and cash outflows over a period of time‚ usually prepared monthly. Cash flows is the amount of money flowing into and out of a business over a period of time. Cash inflows
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Many scholars have debated whether the actions of Macbeth and Doctor Faustus in Shakespeare’s and Marlowe’s plays come from the characters themselves or whether they were following a predetermined fate. In the play The Tragedy of Macbeth‚ written by William Shakespeare‚ each character’s destiny‚ or fate‚ seems to be predetermined by the supernatural and unpreventable by any actions meant to stop it from occurring. The concept of fate is a large component in many Aristotelian Tragedies‚ such as Macbeth
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Affirmative action ultimately fails in its attempt to address the social imbalance caused by past discrimination because it only treats the symptoms rather than the cause. Do you agree? A growing number of equality programs‚ also known as affirmative action‚ which include quotas‚ minority scholarships and job opportunities based on diversity‚ have been proposed by governments throughout the world‚ as measures to diminish the inherited discrimination towards different groups of our society. But what
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HUMAN RESOURCE MANAGEMENT | April 1 2011 | Individual project - Regular vs. Flexible staffing : Making use of contingent workers | Submitted by: Fatima Rauf BBA 2K8 (A) Roll no: 11 | Regular vs. Flexible Staffing: Making Use of Contingent Workers Strategic decisions need to be undertaken to see how much recruiting needs to be done to fill staffing needs with regular full time workers and other contingent temporary part time workers. This lies at the foundation of recruitment decisions
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The global Concern By Shadi Badawood The global warming phenomenon is one of the most controversial global issues in globalization era‚ and it has changed the world’s agenda‚ it has made scientists and many others to predict‚ undertake research and explore facts which might be inconvenient. Marlo Lewis‚ a Senior Fellow at the Competitive Enterprise Institute‚ wrote a critique of “An Inconvenient Truth”‚ which states that Al Gore‚ former vice president of the United States of America‚ has exaggerated
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The automotive industry is a highly competitive market where brand loyalty is only as strong as the latest gizmo and horsepower upgrade. The automotive assembly process‚ perfected by Henry Ford‚ was based on the simple principle that "customers can order a Model T in any color they wanted as long as it was black." After the 1920 ’s the market witnessed new entrants with unheard of automobile features that ended Ford ’s golden age. New automakers such as Buick‚ Chrysler‚ and Oldsmobile offered
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’Race-based affirmative action has failed’. Discuss. (45 marks) Due to how disadvantaged African-Americans had been during the 100 years after the Civil War‚ many Democrat politicians began to believe that the government needed to discriminate positively in favour of African-Americans in such areas as housing‚ education and employment. Affirmative action was meant to lead to diversity and multiculturalism- the view that the school‚ the college‚ the firm‚ the workplace should reflect the racial diversity
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Meaning and Need for Budget Everyone is familiar with the idea of a budget because it is essential in every walk of our life – national‚ domestic and business. A budget is prepared to have effective utilisation of funds and for the realisation of objectives as efficiently as possible. Budgeting is a powerful tool to the management for performing its functions (i.e.‚ formulating plans‚ coordinating activities and controlling operations etc.) efficiently. CIMA London defines budget as‚ “A plan quantified
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