GUESS WHO JEANS STATIC BUDGET VARIANCE FOR THE MONTH JUST ENDED Income Statement line-item Budgeted amount per unit Static Budget (A) 10‚000 units Actual Results (B) 16‚000 units Static Budget Variance (A) – (B) Revenue Variable costs: Materials Labor Overhead Total Contribution margin Fixed costs: Manufacturing Overhead Marketing costs Total fixed costs Operating
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The case titled The Theatre Budget was a short journal about a frustrated Vice-President of a performing arts theatre that had a Board of Directors more concerned about artistic values than how they would pay the bills. Janet Dobbs was Vice President for Administration and President-elect for this small taxexempt organization called the Greater Euclid Little Theater (GELT). It is obvious in the case that there is a divide between industries; business administration/accounting and the arts. One
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A budget is a plan. Budgeting is generally formalized written documents. Budgeting is the process of developing a plan‚ implementing it and attempting to control outcomes so that they confirm to or exceed the result called for by the plan. Budgeting is an element of cost accounting‚ because mush of planning related to cost the organization expects to incur. 1.1 IMPORTANCE OF BUDGETS Budgeting is important process in organization. A budget process that works
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INDIAN UNION BUDGET FOR THE YEARS 2007-2012 CONTENTS 1. Acknowledgement 2. Introduction about Budget 3. Budget Processing 4. Presentation and Analysis of Data 5. Conclusion ACKNOWLEDGEMENT I would like to thank The Almighty God for showering his blessings upon me. It is only due to his mercy that I was in good heath and was able to complete this project. Secondly I would like to thank my Business Economics teachers‚ Ms. Kavya and Ms. Anjana
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Studie: Bedrijfseconomie Budgets Is the use of budgets out of date? S.A.D. Sardjoe 298142ss July 12‚ 2009 Table of contents Chapter 1 Introduction 2 1.1 Purpose 2 1.2 Method 2 1.3 Scope 2 1.4 Outline 3 Chapter 2 Budgets 4 2.1 Definition of budgets 4 2.2 The use of budgets 5 2.3 The process of budgeting 5 2.4 The advantages of budgets 6 2.5 The disadvantages of budgets 7 2.6 Conclusion
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attained when good plans are married with effective control systems. Most organizations conduct their planning and control processes through implementation of budgetary control system. Budgetary control system is the system of using budgets as a means of planning and controlling all aspects of producing or selling commodities and services (By J.Batty) An organization will never lose direction and means of measuring performance if it will implement the
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Master Budget Master Budget Definition The master budget is the aggregation of all lower-level budgets produced by a company’s various functional areas‚ and also includes budgeted financial statements‚ a cash forecast‚ and a financing plan. The master budget is typically presented in either a monthly or quarterly format‚ and usually covers a company’s entire fiscal year. An explanatory text may be included with the master budget‚ which explains the company’s strategic direction‚ how the master
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Conduct Meetings Assessment task 2 Name of business: Dazzling Photography Description of business: Photography business specializing in: Weddings‚ Newborn photography‚ Family portraits and studio design. We also offer photo editing and collages. Number of employee’s in the workplace: 12 Meeting Purpose: A meeting to agree on where to go on the company business retreat (Melbourne‚ Noosa or Fiji) Organisational requirements Meeting minutes must be captured Meeting must start and finish on time Must
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most organizations is meetings...they waste too much of our precious time. This is bad news for organizations. Meetings are important because that is where an organization’s culture and climate perpetuates itself. Meetings are one of the ways that an organization tells its workers‚ "You are a member." If you have bad‚ boring‚ and time wasting meetings‚ then the people begin to believe that this is a bad and boring company that does not care about time. Likewise‚ great meetings tell the workers‚ "This
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