FUNCTIONAL AND ACTIVITY-BASED BUDGETING Budget a financial plan of the resources needed to carry out tasks and meet financial goals. A quantitative expression of the goals the organization wishes to achieve and the cost of attaining these goals. Budgeting the act of preparing a budget. Budgetary control the use of budgets to control a firm’s activities. Master budget (planning budget/ budget plan) a summary of all phases of a company’s plans and goals for the future. Indicates the sales levels‚
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The history of Congressional budgeting is a largely long and compounding series of passed laws and reforms like much of the rest of Congress. The early history of the Congressional budget was a story of decentralized requests from each consecutive administration. These requests were not coordinated or funneled through any specific agency. Budgetary requests were handled by Congress through its committee system meaning that committee chairs held supreme authority over any requests that came their
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Budgeting lies at the foundation of every financial plan. It doesn’t matter if you’re living paycheck to paycheck or earning six-figures a year‚ you need to know where your money is going if you want to have a handle on your finances. Unlike what you might believe‚ budgeting isn’t all about restricting what you spend money on and cutting out all the fun in your life. It’s really about understanding how much money you have‚ where it goes‚ and then planning how to best allocate those funds. Here’s
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Internal capital rationing Impositions of restrictions by a firm on the funds allocated for fresh investment is called internal capital rationing. This decision may be the result of a conservative policy pursued by a firm. Restriction may be imposed on divisional heads on the total amount that they can commit on new projects.Another internal restriction for capital budgeting decision may be imposed by a firm based on the need to generate a minimum rate of return. Under this criterion only projects
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What long-term investments should the firm undertake (capital budgeting) and how will investment and finance decisions affect the firm ’s value (valuation)? How can cash be raised for the required investments? This is known as the financing decision ’ (cost of capital‚ capital structure and leasing). How will the firm manage its day-to-day cash and financial affairs (short-term financing and net working capital)? The Capital Budgeting Mini Case presents a financial decision of acquiring
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Issues in Accounting Education Vol. 15‚ No. 2 May 2000 Budgeting and Performance Evaluation at the Berkshire Toy Company Dean Crawford and Eleanor G. Henry ABSTRACT: This case1 provides an opportunity to study budgets‚ budget variances‚ and performance evaluation at several levels. As a purely mechanical problem‚ the case asks for calculations of various price‚ efficiency‚ spending‚ and volume variances from a set of budgets and actual results. The case is also an interpretive exercise. After the
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background to supply‚ we notice about the terms "total product"‚ "marginal product" and "average product". These three figures are the foundation upon which the analysis of short-run production for a firm is analyzed. Total product is the total quantity of output produced by a firm for a given quantity of inputs. The usual framework is to analyze total product when in a variable input (labor) changes‚ for a given amount of a fixed input (capital). Diagram 1 In diagram 1‚ as the curve shows‚ the more
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WORKING CAPITAL AND FIXED CAPITAL AND ITS ADVANTAGES Introduction: A firm requires funds to acquire two types of assets : fixed assets and current assets .Fixed assets include land biulding ‚ plant‚ and machinary ‚ vehicles ‚ equipment etc.These assets relatively permanent in nature and are necessary for carrying on the bussiness .Current assets ‚on the other hand ‚are kept for supporting day-to-day operations and keep changing during the course of the business.They liquidated within short period
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The Product OBJECTIVES: * Definition of Product * Product Concept * What is Branding Packaging and Labeling What is Product? A product is anything offered for sale by a firm to buyers to satisfy their wants and needs. Products may take any of the following forms: * A physical object like a toy or a kilo of pork * A service like a Ferris wheel ride or a dental check-up * A place like London or Boracay * An organization like the Knights of Columbus or the Philippine
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HUMAN AND SOCIAL CAPITAL BY: JOSEPH KIOKO REG. NO: D80/61281/2011 DATE: 05/06/2013 LECTURER: PROF. P. O. K’OBONYO Introduction and Definitions: Human capital is defined by the OECD (1998‚ p9) as “the knowledge‚ skills and competences and other attributes embodied in individuals that are relevant to economic activity.” While Duration of schooling and levels of qualification are the standard measures used to measure human capital the OECD itself
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