ACF5903 - Topic 10 - Budgeting www.buseco.monash.edu Objectives •Understand the link between strategic planning and budgeting •List the key steps in the budgeting process •Understand the different types of budgets •Outline behavioural issues associated with budgeting Reference Birt et al Chapter 9 www.buseco.monash.edu Agenda 1. Overview: Planning and control in firms 2. The budgeting process 3. Types of budgets 4. Budget variances 5. Behavioural aspects of budgeting 6. Summary www.buseco
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Discuss the advantages and disadvantages of budgeting as a system of organisational control. A budget is a short-term financial plan of income and expenses expected over a certain period of time (usually one year) used to achieve a businesses objective. Budgeting can be useful for exercising control over a business because of its nature as a representation of a plan. Control is generally viewed as making events conform to a plan. As a budget is represented as a plan‚ allowing events to conform
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| PUBLIC SECTOR ACCOUNTING PROJECT | Implementation of Outcome Based Budgeting System (OBB) Towards Improving Public Sector Performance | | Lecturer : Puan Roszilah Shamsuddin Group Members : Nur Athirah Bt Mohd Fatimi 2011427974 Nurfarah Ain Bt Nor Azman 2011294296 Syaza Nadhirah Bt Abdul Kadir 2011288382 Nurain Faizah Bt Bahsarudin 2011260008 Nurul Idany Bt Shahidan 2011478374 Table of Content No. | Particular | Page | 1.23.4.5. | Introduction of content Main
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Stoplight Decisions are where someone goes to stop at a stoplight and there is where they make their decision‚ go right‚ left‚ or straight. You can go straight on green and at some turns you can turn right on red. Stoplight decisions are important because if you don’t pay attention you will be breaking the law‚ or seriously hurt or kill you or someone else. People that don’t pay attention will end up executing an illegal U-turn‚ run a red light‚ turn left on red‚ and much more. Everyone on the roads
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Ethics 3.1 1. Why are Christian ethics and theology inseparable? What did Francis Schaeffer mean when he said that not all things are the same to God? Christian ethics is inseparable from theology because it is grounded in the character of God. Francis Schaeffer said that not all things are the same to God and means that God exists and has a character‚ but not all things are the same to him. Some things conform to His character‚ and some are opposed to his character. 2. What did Schaeffer conclude
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Capital Structure Decisions: Which Factors Are Reliably Important? Murray Z. Frank and Vidhan K. Goyal∗ This paper examines the relative importance of many factors in the capital structure decisions of publicly traded American firms from 1950 to 2003. The most reliable factors for explaining market leverage are: median industry leverage (+ effect on leverage)‚ market-to-book assets ratio (−)‚ tangibility (+)‚ profits (−)‚ log of assets (+)‚ and expected inflation (+). In addition‚ we find
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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
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PUBLIC BUDGETING PPA 603 Government Budgeting The goal of this paper is to briefly discuss public finance and its philosophy. Public finance plays a major role in our lives. It is mainly focusing on the establishment of rights and responsibilities with maintaining balance between them for accomplishing practical tasks. Because public finance relates to government activities the paper will also contrast governmental accounting with nongovernmental accounting. The main point for the governments
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each with its own useful purpose. The first of these is Absolute Location. Absolute location refers to an exact‚ pinpointed location. Absolute locations involve some sort of measurement‚ whether it’s latitude and longitude‚ an address‚ the number of miles from an exact point‚ etc. Pinpointing Oklahoma on a map using absolute location involves locating latitude and longitude lines on the map. Looking on the map below‚ we can find the absolute location ofOklahoma on the Earth. Now that we can see whereOklahoma is
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oldest forms of government. However‚ a democracy seems more in line with fair practice due to the fact that there were no rulers or judges in the Bible until the people asked God for them. (1 Samuel 8) According to Britannica.com‚ absolutism or absolute monarchy mean “the sovereign power or ultimate authority in the state rests in the hand of the king who claimed ruled by divine right.” (_____) Although‚ the idea of absolutism may sound appealing due to the idea of having one ruler‚ it is imperative
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