Carol Stotts PPA 603: Public Budgeting System Public Budgeting Professor Gillen November 12‚ 2012 Explain the philosophy of public finance. The philosophy of public finance is based on raising funds for public purposes. The writer maintains that public finance may also be defined as a science because (1) it deals with a definite and limited field of human knowledge. (2) It admits of an orderly arrangement of its facts and principles‚ and contains many laws of general
Premium Federal government of the United States Government International Financial Reporting Standards
Solution to Chapter 8: Budgeting for Planning and Controlling ___________________________________________________________ CHAPTER 8 QUESTIONS FOR WRITING AND DISCUSSION 1. Budgets are the quantitative expressions of plans. Budgets are used to translate the goals and strategies of an organization into operational terms. 2. Control is the process of setting standards‚ receiving feedback on actual performance‚ and taking corrective action whenever actual performance deviates from planned performance
Premium Total cost Variable cost Costs
Chapter 7 Budgeting and Cost Estimation Copyright 2009 John Wiley & Sons‚ Inc. Low Bids If you are bidding on a project‚ do you want your bid to be as low as possible and still make a profit? Accept Low Bid If you are accepting bids on a project‚ do you want to accept the lowest bid? Budgeting A plan for allocating scarce resources to the various endeavors of an organization A budget implies constraints Thus‚ it implies that managers will not get everything they
Premium Project management
2 Gentry Motors Inc.‚ a producer of turbine generators‚ is in this situation: EBIT _ $4 million; tax rate (T) is 35%; debt outstanding (D) $2 million; kd 10%; ke 15%; shares of stock outstanding (N0) 600‚000; and book value per share $10. Since Gentry’s product market is stable and the company expects no growth‚ all earnings are paid out as dividends. The debt consists of perpetual bonds. a. What are Gentry’s earnings per share (EPS) and its price per share (P0)? b. What is Gentry’s weighted
Premium Weighted average cost of capital Stock Costs
Isok II passed Barangay Appropriation Bill No. 2012-01 with the title An Ordinance Appropriating Funds for Barangay Isok II (Annex A). A barangay budget comprises estimates of income‚ total appropriations covering current operating expenditures‚ and capital outlays. The total amount available for appropriation is PhP 778‚372.00 derived from the estimated income for the budget year. Below is the breakdown of the estimated income: Property Taxes 5‚000.00 Business Taxes and Licenses 2‚400.00 Community
Premium Budget Local government Fiscal year
Capital Budgeting Assignment #2 Breana N. Rainge 23. Bauer Industries is an automobile manufacturer. Management is currently evaluating a proposal to build a plan that will manufacture lightweight trucks. Bauer plans to use a cost of capital of 12% to evaluate this project. Based on extensive research‚ it has prepared the following incremental free cash flow projections (in millions of dollars): | Year 0 | Year 1-9 | Year 10 | Revenues | | 100.0 | 100.0 | -Manufacturing expenses (other
Premium Net present value Discounted cash flow
state and that the budgeting group needs to revamp the budget for the coming year. Within this document as the Budget officer‚ we will take a close look at the present budget to determine the changes that need to be made in order to come up with a solution that is politically feasible. In doing so we will examine numerous things in depth which includes looking at how the changes affect the fiscal cycle of your budgeting‚ how the preparation‚ execution‚ and evaluation of the budgeting cycle would change
Premium Cost-benefit analysis Net present value Cost
Chapter 8 Cost Estimation and Budgeting 8.1 True/False 1) Direct costs are those clearly assigned to the aspect of the project that generated the cost. Answer TRUE 2) Material is an example of a cost that is recurring‚ variable and direct. Answer TRUE 3) An expedited cost is one that does not vary with respect to their usage. Answer FALSE 4) An order of magnitude estimate is usually more accurate than a ballpark estimate. Answer FALSE 5) Comparative estimates are more accurate than definitive
Premium Costs Cost Variable cost
Zero-Based Budgeting MHA 612 Dr. Kathy Wood October 14th‚ 2013 Zero-Based Budgeting Introduction As the zero-based budget consultant for Windsor Memorial Hospital I will make recommendations to the Board of Directors on how to create a solid plan to reduce costs and increase productivity. This will be a team based solution. In order to sustain the plan for years to come‚ it will require continued effort and a commitment from all current and future employees. Zero-based budgeting is one
Premium Budgets Budget
AACE International Recommended Practice No. 34R-05 BASIS OF ESTIMATE TCM Framework: 7.3 – Cost Estimating and Budgeting Acknowledgments: Todd Pickett‚ CCC (Author) Peter R. Bredehoeft‚ Jr. Ted A. Downen Larry R. Dysert‚ CCC Bruce G. Elliott‚ CCC John K. Hollmann‚ PE CCE Copyright 2010 AACE International‚ Inc. Stephen M. Jacobson CCC Carlton W. Karlik‚ PE Christopher L. Kinney Donald F. McDonald‚ Jr. PE CCE PSP Bernard A. Pietlock CCC Richard A. Selg‚ CCE AACE International Recommended Practices
Premium Project management