(October): 60-65. Suslick‚ S.B.‚ Schlozer‚ D.‚ & Rodriguez‚ M.R. 2009. Uncertainty and Risk Analysis in Petroleum Exploration and Production. Terrae 6 (1): 30-41. The Financial Web (TFW). n.d. Zero-based Budgeting vs. Incremental Budgeting. Retrieved Oct. 2013 from http://www.finweb.com/financial-planning/zero-based-budgeting-vs-incremental-budgeting.html#axzz2je35P9tk
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Zero Based Budgeting in the Planning Process Author(s): James C. Wetherbe and John R. Montanari Source: Strategic Management Journal‚ Vol. 2‚ No. 1 (Jan. - Mar.‚ 1981)‚ pp. 1-14 Published by: Wiley Stable URL: http://www.jstor.org/stable/2485987 . Accessed: 08/03/2014 05:12 Your use of the JSTOR archive indicates your acceptance of the Terms & Conditions of Use‚ available at . http://www.jstor.org/page/info/about/policies/terms.jsp . JSTOR is a not-for-profit service that helps scholars
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flexible budgeting‚ zero based budgeting‚ and performance budgeting. Rickards (2006) believes the main purpose of budgets is to help implement a firm’s strategy‚ not just controlling and planning. The changes in the economic environment and business processes led to evolutions in budgeting. From the initial cash budgets to more modern techniques of zero based budgeting (ZBB) and activity based budgeting (ABB).From the initial cash budgets to more modern techniques of zero based budgeting
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Spot Rate and Forward Rate Spot Rate: It is nothing more than the YTM on bond. It is the rate of interest on bond maturing at any time in the future. It is also known as geometric average of 1 year forward rates in the future. Hence‚ YTM on bonds can be calculated as: When forward rates are given then; oS1 = oF1 oS2 = [(1+of1)(1+1F2)](1/2) -1 oS3 = [(1+of1)(1+1F2)(1+2F3)](1/3) -1 and so on. Forward Rates: It is the interest rate established today ‚ that will be paid on money to
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BUDGETARY CONTROL DEFINITION BUDGET: A budget is a monetary and/or quantitative expression of business plans and policies‚ prepared in advance‚ to be pursued in the future period of time. According to Certified Institute of Management Accountants‚ Budget is defined as “A budget is a financial and/or quantitative statement prepared prior to a defined period of time‚ of the policy to be pursued during that period for the purpose of attaining the objective”. Budget is a systematic plan for utilisation
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Case 5 Tesla Motors and U.S. Auto Industry As a pioneer of green technology car manufactory‚ Tesla Motors has placed himself in the U.S. automotive industry. Tesla Roadster is considered to be a cash cow in 2009‚ and it is the only electric cars have been mass product. However‚ after the competitors had entered the market‚ alternatives joined the battle of green technology car‚ such as hybrids‚ fuel cell ‚etc. Furthermore external environment has changed. Elon Musk‚ the co-founder and head of
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* President Aquino vows to end culture of ‘wang-wang’. “To end the wang-wang culture in government‚ we employed zero-based budgeting to review programs. For this year and the last‚ zero-based budgeting has allowed us to end many wasteful programs.” * President Aquino discussed that his administration focus to end culture of ‘wang-wang’ also resulted to a lesser Filipinos who experienced hunger. We have today a better economy‚ our country will have a cheaper‚ more reliable source of energy‚ more
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Westport Electric Corporation (case 4-5) Case Overview Westport Electric is a gianta colossal and highly profitable company which that manufactures and sells electric and electronic products. Organisational structure Divided into four groups Each group comprises 25 ““relatively independent”” divisions and each division is a profit centre 6 administrative staff offices Administrative Staff Offices at the corporate level‚ which operates on a cost centre basis. Different approaches toin the
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Bankruptcy and Restructuring at Marvel Entertainment Group 1. Why did Marvel file for Chapter 11? Were the problems caused by bad luck‚ bad strategy‚ or bad execution? What is the amount of debt of MEG (the operating company) and the Marvel Holding Companies (Marvel owners)? The Chapter 11 bankruptcy provided an opportunity for all the major stakeholders to evaluate their options regarding their investment and control of Marvel. Bankruptcy alleviated Marvel’s immediate cash shortage‚ protected
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Welch‚ J (2005)‚ expresses his judgement on the traditional style of budgeting. “The most ineffective practice in management‚ It sucks the energy‚ time‚ fun and big dreams out of an organisation. In fact when companies win‚ in most cases it is despite their budgets‚ not because of them.” Financial managers are now expressing this universal view and are realising that it is an ineffective and unproductive approach to be using‚ therefore a new approach needs to be found that is not out-dates. Better
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