Week 6 HSM 260 Due Day 7 Exercise 11.1 Followed by the family and child benefits being such a success in the previous seminars‚ the Advocates for Children agency is going to conduct another seminar. The agency is a private nonprofit agency. This seminar is going to be conducted in one day for the children and families within the area. The activities that will be conducted at the seminar will provide a profit to help support the agency. The seminar is planned to take place in a conference room
Premium Costs Variable cost Fixed cost
Ratios over Time 9/2/2013 Ratios over Time The financial position of this organization has changed in multiple ways. First being that the company has increased their profit and lowered their expenses. Generally it has improved. The contribution ratio has also lowered explaining that their company is not putting in as much of their own money as in the fiscal year 2000. The revenue
Premium Variable cost Costs Fixed cost
calculated by subtracting the cost lowest month from the highest month. • 26‚000 – 20‚500 = 5‚500 3. Variable cost per meal is calculated by dividing the cost difference by the difference in service volume. • 5‚500 / 1‚400 = 3.93 • $3.93 per meal 4. Total variable cost for the lowest time period is calculated by multiplying the service volume by the variable cost per meal. The same calculation is used to determine the total variable cost for the highest time period as well. • Low month total variable
Premium Variable cost Costs Fixed cost
/ 3 = $6‚083‚333 Weighted Moving Averages Fiscal Year Expenses Weight Weighted Score 20X2 $5‚500‚000 1 $5‚500‚000 20X3 $6‚000‚000 2 $12‚000‚000 20X4 $6‚750‚000 3 $20‚250‚000 __ ___________ 6 $37‚750‚000 20X5 $37‚750‚000 /6 = $6‚291‚667 Exponential Smoothing NF = $6‚300‚000 + 0.95($6‚750‚000 - $6‚300‚000) = $6‚300‚000 + 0.95(45‚000) = $6‚300‚000 + (42‚750) = $6‚342‚750 I would rather use moving averages‚ weighted moving
Premium Moving average
Board Members What resources do the board members use to base off from‚ when making decisions? This question is very important. The board members are on top f an organizations chain. It is important to know that those on the board are reliable and know what they are there for. As a whole‚ you need to be aware that the decisions made by the board will ensure that everyone is taken care of. Board members can’t just make a decision without using references. Otherwise‚ the decisions being made wont
Premium Decision making Management Need to know
HSM 260 Checkpoint Scavenger Hunt Week 1 July 29‚ 2011 GAAP- (Generally Accepted Accounting Principles) - The rules that govern the way accountants generate financial reports. http://www.investopedia.com/terms/g/gaap.asp Basic accounting formula- The formula used in accounting that shows the total assets‚ liabilities‚ and the shareholders equity. Assets = Liabilities + Shareholder Equity. http://www.investopedia.com/terms/a/accounting-equation.asp Transaction‚ t-account- An analysis
Premium Generally Accepted Accounting Principles Financial statements Finance
An agency has to consider the full range of short term‚ long term‚ manifest and latent goals in developing its goal and objective statements. The goals may seem vague‚ but they are fleshed out in the objectives that are set up to accomplish these goals. The goal shows the overarching reasons for the establishment of the program and provision of services. An example of a goal statement might be: To provide homes for hurricane victims. This idea does not contain details of who‚ what‚ how and where
Premium Term Finance Time
hsm/260 Week one checkpoint: scavenger hunt GAAP- (Generally Accepted Accounting Principles) Is rules that govern the way that accountants do the financial reports. http://www.investorwords.com/2141/GAAP.html Basic accounting formula- Is the formula that is used in accounting that reveals the total assets‚ liabilities‚ and the shareholders equity. Assets= Liabilities + shareholder Equity. http://www.investopedia.com/terms/a/accounting-equation.asp Transaction‚ t-account- It is an analysis
Premium Balance sheet Generally Accepted Accounting Principles Accounting equation
Accrual Method Checkpoint October 2‚ 2011 HSM/260 In a nonprofit organization it is important to make sure we are utilizing the best accounting system for our organization. Organizations that are non-profit are expected to provide financial statements that are based upon the accrual method of accounting. The accrual method of accounting differs from cash basis accounting. In the accrual method‚ income is recognized when services are rendered (Kokemuller‚ 2013)
Premium Non-profit organization Voluntary association Generally Accepted Accounting Principles
Accrual Method HSM/ 260 -Financial Management for Human Services Managers July 12‚ 2012 Accrual Method The accrual method records the transaction even before the organization has received the money for the services. The accrual method works the best for nonprofits organizations then profit organizations. For example‚ if the organization supplying a service records the cost of the services‚ and does not wait until they receive the money for the services rendered. The accrual method shows
Premium Pearson Education Generally Accepted Accounting Principles Finance