Tishay Law Unit 2 FINA310 FINAL
.docx
keyboard_arrow_up
School
American InterContinental University *
*We aren’t endorsed by this school
Course
310
Subject
Finance
Date
Feb 20, 2024
Type
docx
Pages
7
Uploaded by ChefJellyfishMaster4675
1
Tishay Lawrence
FINA310
Instructor: J Bruce Parker
Date: December 9, 2023
1
Page 2: Introduction
Why is forecasting important? Any business or organization needs to use forecasting because it facilitates planning and decision-making. It entails making predictions about upcoming occurrences, patterns, and results
using data and analysis from the past. The power of forecasting to offer insightful information about the future allows companies to foresee changes and respond appropriately.
First of all, forecasting assists companies in establishing reasonable targets and goals. Businesses
can predict future demand for their goods and services by examining historical data and market trends. They can effectively allocate resources, plan production levels, and prevent inventory overstocking or understocking thanks to this information.
Second, forecasting helps with budgeting and financial planning. Businesses can more accurately
project their future revenues and expenses when they have accurate forecasts. For the purpose of making budgets, distributing money wisely, obtaining loans or investments, and guaranteeing financial stability, this information is crucial.
Moreover, forecasting helps with risk management by pointing out prospective hazards or openings that might present themselves down the road. Through the use of forecasting techniques like trend analysis or regression models, organizations can proactively adjust their strategies to minimize risks or capitalize on emerging opportunities by anticipating changes in the market or customer preferences.
1
What is the percentage of sales method?
In business, the percentage of sales method is a commonly employed technique for projecting
future sales and figuring out the right budget for different expenses. With this approach, the
future sales volume is estimated, and the associated costs are then computed as a percentage of
the estimated sales.
First, past data is examined to find patterns and trends in sales data. This data is essential for
calculating the rate of increase or decrease in sales over time. Once established, these trends can
be used to project possible sales for upcoming periods.
Various costs, including marketing,
production, and administrative expenses, are calculated as a percentage of the projected revenues
once the projected sales figures have been established. For instance, if past data indicates that
marketing expenses accounted for 20% of overall sales in prior years, the marketing budget can
be computed by applying this percentage to the projected future revenue.
This method's simplicity and ease of application are its advantages. Without engaging in intricate
financial analysis, it enables businesses to quickly estimate their budget requirements based on
expected revenue. It is crucial to remember that this approach assumes that previous trends will
persist into the future, which may not always be true because of shifting market dynamics or
other unanticipated circumstances.
In summary, the percentage of sales technique offers companies an easy way to project their
costs based on expected income. Despite its drawbacks, it is still a useful tool for budgeting and
can assist businesses in making resource-related decisions.
Your preview ends here
Eager to read complete document? Join bartleby learn and gain access to the full version
- Access to all documents
- Unlimited textbook solutions
- 24/7 expert homework help
Related Questions
According to the risk management process in ISO 31000, which of the following is a necessary step in risk assessment? Select one: A. Risk treatment B. Risk transfer C. Risk analysis D. Risk minimisation
####
i want answer within one hour,Thanks
arrow_forward
Revisit
Choose the best option
Question # 25
A Report a Problem
O firm, individual
While redefining management phenomena, the management accounting professionals have to
focus on the
and the
O past, present
O issues, solutions
innovation, systems
+91 80 4719 0917
Deepanshu | Support +1 650-924-9221
metti
Type here to search
f9
144
f6
f5
f4
f3
IOI
f2
&
7
SC
6.
%23
3
5
@
2
4
1
%24
arrow_forward
GP
You
Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.
arrow_forward
Question 13
Research staff at Apricot Ltd (a mobile phone company) , are told by what functionality is expected out of the new model to be released. They are given a generous budget and access to technicians. They are told to contact management if you have any questions or need guidance.
What approach to management is most appropriately being described here?
A Laissez-faire
B Entrepreneurial
C Democratic
D autocratic
arrow_forward
What is forecasting risk and how can it affect decision making?
atting
re for you!
th your
chat
Edit View Insert Format Tools Table
12pt Paragraph
Paragraph
р
B IUA
BIUA
2
2
T² :
T² V
i
I
0 words
✓
arrow_forward
>
Week 9
Assignment 9.4
Assignment 9.4 - BUSINESS PLAN
Upload your assignment through the link
provided in this week's assignments folder.
The financial and accounting statements
provide the information needed to measure
the projected success of the business plan.
The recipient of the business plan will want to
have an understanding of this information in
assessing the performance of the proposed
business plan. The two questions to answer
are the following:
a. What information will be needed to
develop the accounting and financial
statements.
b. What information is needed to explain
the importance of these statements to
the other business functions.
The discussion shall be approximately 1½ to 2
pages in length, doubled space, using a size
12 font. Any direct quotes or the paraphrase of
unique thoughts of others should be properly
cited and referenced using general APA
arrow_forward
ACC340
Chapter 16, Problem 16-11, on page 641: Discuss how emerging technologies, such as the Internet, affect the GL/ BR process. In what ways will organizations have to adapt their business processes to reflect the changes in these external factors?
arrow_forward
Write an essay of the new roles of management accountants in accommodating to the current and
future business environment premised on digital economy and beyond. The essay should outline,
explain, and analyse the business environment within which management accountants would be
adapting, and how they (i.e. management accountants) would be positioning themselves in the
future.
In writing your essay, please observe that you need to write between 500 to 750 words
arrow_forward
THEORY PROBLEM
Explain why accounting students should study Accounting Information Systems?
Explain the Value Chain and also explain how Information Technology plays an important role in the Value Chain.
Briefly describe the types of users of the SIA and what are the benefits of the output of the AIS for their work or profession?
One of the characteristics of useful information is that it must be timelines and complete. Which is more important, timely but incomplete information, or complete information, but too late? Give an example!
Briefly describe the purpose of internal control and provide an example of an internal control application for that purpose!
arrow_forward
2019 COBIT
Principle 1
Each enterprise needs a governance system to satisfy stakeholder needs and to generate value from
the use of I&T. Value reflects a balance among benefits, risk and resources, and enterprises need an
actionable strategy and governance system to realize this value.
Current Practice
Recommendation
Principle 2
A governance system for enterprise I&T is built from a number of components that can be of different
types and that work together in a holistic way.
Current Practice
Recommendation
arrow_forward
Answer multi choice question in photo please
arrow_forward
Write an essay about the emerging roles of management accountants in today's and tomorrow's corporate environments, based on the digital economy and beyond. The essay should describe, explain, and evaluate the business environment to which management accountants must adapt, as well as how they (management accountants) will position themselves in the future. Please keep in mind that your essay should be between 500 and 750 words long.
arrow_forward
Revisit
Choose the best option
Question # 1
A Repoa Problem
O Strategy
In the decision making process in an organisation, all these are phases of planning except for
OBudgets
this.
O Positioning
OScorecard
+9180 47190917
Deepanshu | Support +1650-924-9221
x
metti
%23
N
(3
O Type here to search
hp
18
14
f7
f6
f5
10
f4
f3
米
f2
%24
林
arrow_forward
Please Solve In 15mins I will Thumbs-up
arrow_forward
"As global competition increases, businesses are being pressured to reach higher levels of productivity to price their products and services competitively.' Explain how management accountants can play a role in helping management meet these challenges.
Correct full answer from experts please help me #####################@$#####$$
arrow_forward
Review Later
Which function of the S&P Capital IQ Excel plug-in allows users to extract company data directly
from CaplQ's database and calculate the desired financial metrics using the CaplQ formulas?
Screening
Auditing
Templates
Formula Builder
Page 9 of 10
00
arrow_forward
what are some of the improvement that you could make in business class in the future
arrow_forward
Knowledge Check 01
Financial statement analysis provides information to internal users to improve:
O financial statements
O their own goals
O efficiency and effectiveness
O company performance and financial condition
arrow_forward
Please correct answer and step by step solution
arrow_forward
Question 1 2020
(i) Agency theory is based on the view thatA. The purpose of corporate governance (CG) should be to satisfy (as far as possible) the objectives of all stakeholders.B. Boards of directors are considered as important mechanism for reducing transaction costs associated with environmental interdependency.C. Corporate governance will be to employ or design techniques or systems that can secure the interests and values of the management.D. The system of CG should be designed to minimise agency problems & costs.
(ii) Which one of the following statements is not a relevant reason for an accountant to liaise with their predecessor when accepting a professional assignment?A. It is a matter of professional etiquetteB. To avoid the appearance of solicitationC. To determine whether the professional fees charged were adequate to avoid threats to due careD. To identify if there are professional reasons why the appointment should not be accepted.
(iii) Which threat can possibly…
arrow_forward
6
Advisors need to balance their time between
researching very specific investments
seeking new clients
staying current on the news and economy
outsourcing back office tasks
justifying fees to clients
and
arrow_forward
Question 10
Consider the following statements:
1. A mission statement addresses the question 'What do we want to achieve?"
2. Businesses often publish their strategic objectives.
Are the above statements true or false?
1- false 2 - true
O 1- true 2- false
O 1- true 2 - true
O 1- false 2 - false
arrow_forward
QUESTION TWO (2)
a) You have recently been employed by Quantum Analytics as the chief risk officer.
Given the fierce competition within the financial sector, your institution's core
goal is to strategically: create, enhance, and preserve value. How do you help
your company achieve the above using risk management as a (i) Liability tool,
Santun
(ii) Opportunity Tool, (iii) Organization tool, (iv) Compliance tool, and (v)
Communication tool?
b) A trader enters to a long cotton
futures contract when the futures price is 50
cents per pound he contract is for the delivery of 50,000 pounds. How much
does the trader gao lose if the cotton price at the end of the contract is
i
48.20 cents per pound
51.30 cents per pound?
c) Explain carefully the difference between hedging, speculation, and arbitrage.
arrow_forward
Pemaining: 01:57:28
Accounting
Subject : Management information system
Draw two(2) separate mind maps to describe :
1) The ethical issues brought about by the development amd advancement in information technology
2) The threats towards computerised information system and protective measures to counter them.
Your ancwor
arrow_forward
Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant.Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource.
arrow_forward
Q1_ You are working as a manager in the company and suddenly you are appointed in the strategic management unit. Your boss asked you to develop key strategies for future growth and improving costing system. As a manager explain THREE (3) points on why accounting is essential for managers.
arrow_forward
SEE MORE QUESTIONS
Recommended textbooks for you
Accounting Information Systems
Finance
ISBN:9781337552127
Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher:Cengage Learning
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Business/Professional Ethics Directors/Executives...
Accounting
ISBN:9781337485913
Author:BROOKS
Publisher:Cengage
Related Questions
- According to the risk management process in ISO 31000, which of the following is a necessary step in risk assessment? Select one: A. Risk treatment B. Risk transfer C. Risk analysis D. Risk minimisation #### i want answer within one hour,Thanksarrow_forwardRevisit Choose the best option Question # 25 A Report a Problem O firm, individual While redefining management phenomena, the management accounting professionals have to focus on the and the O past, present O issues, solutions innovation, systems +91 80 4719 0917 Deepanshu | Support +1 650-924-9221 metti Type here to search f9 144 f6 f5 f4 f3 IOI f2 & 7 SC 6. %23 3 5 @ 2 4 1 %24arrow_forwardGP You Write a post providing us with the context for the resources of adopting innovative technologies that can lead to streamlined processes, real-time insights, and increased focus on strategic planning technological advancements in the accounting and finance profession have required finance professionals to adapt and expand their skill sets. Those who can adapt can support business growth and discover better career opportunities selected by identifying the field of study of accounting and finance and specifying an associated profession if relevant. Explain in two separate sections how this could be applied to the criteria of validity checklist to determine the validity of each resource. Try to be as thorough as possible with the questions listed under each heading on the checklist. If unable to make a determination about any of the criteria, be sure to explain that, too.arrow_forward
- Question 13 Research staff at Apricot Ltd (a mobile phone company) , are told by what functionality is expected out of the new model to be released. They are given a generous budget and access to technicians. They are told to contact management if you have any questions or need guidance. What approach to management is most appropriately being described here? A Laissez-faire B Entrepreneurial C Democratic D autocraticarrow_forwardWhat is forecasting risk and how can it affect decision making? atting re for you! th your chat Edit View Insert Format Tools Table 12pt Paragraph Paragraph р B IUA BIUA 2 2 T² : T² V i I 0 words ✓arrow_forward> Week 9 Assignment 9.4 Assignment 9.4 - BUSINESS PLAN Upload your assignment through the link provided in this week's assignments folder. The financial and accounting statements provide the information needed to measure the projected success of the business plan. The recipient of the business plan will want to have an understanding of this information in assessing the performance of the proposed business plan. The two questions to answer are the following: a. What information will be needed to develop the accounting and financial statements. b. What information is needed to explain the importance of these statements to the other business functions. The discussion shall be approximately 1½ to 2 pages in length, doubled space, using a size 12 font. Any direct quotes or the paraphrase of unique thoughts of others should be properly cited and referenced using general APAarrow_forward
- ACC340 Chapter 16, Problem 16-11, on page 641: Discuss how emerging technologies, such as the Internet, affect the GL/ BR process. In what ways will organizations have to adapt their business processes to reflect the changes in these external factors?arrow_forwardWrite an essay of the new roles of management accountants in accommodating to the current and future business environment premised on digital economy and beyond. The essay should outline, explain, and analyse the business environment within which management accountants would be adapting, and how they (i.e. management accountants) would be positioning themselves in the future. In writing your essay, please observe that you need to write between 500 to 750 wordsarrow_forwardTHEORY PROBLEM Explain why accounting students should study Accounting Information Systems? Explain the Value Chain and also explain how Information Technology plays an important role in the Value Chain. Briefly describe the types of users of the SIA and what are the benefits of the output of the AIS for their work or profession? One of the characteristics of useful information is that it must be timelines and complete. Which is more important, timely but incomplete information, or complete information, but too late? Give an example! Briefly describe the purpose of internal control and provide an example of an internal control application for that purpose!arrow_forward
- 2019 COBIT Principle 1 Each enterprise needs a governance system to satisfy stakeholder needs and to generate value from the use of I&T. Value reflects a balance among benefits, risk and resources, and enterprises need an actionable strategy and governance system to realize this value. Current Practice Recommendation Principle 2 A governance system for enterprise I&T is built from a number of components that can be of different types and that work together in a holistic way. Current Practice Recommendationarrow_forwardAnswer multi choice question in photo pleasearrow_forwardWrite an essay about the emerging roles of management accountants in today's and tomorrow's corporate environments, based on the digital economy and beyond. The essay should describe, explain, and evaluate the business environment to which management accountants must adapt, as well as how they (management accountants) will position themselves in the future. Please keep in mind that your essay should be between 500 and 750 words long.arrow_forward
arrow_back_ios
SEE MORE QUESTIONS
arrow_forward_ios
Recommended textbooks for you
- Accounting Information SystemsFinanceISBN:9781337552127Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan HillPublisher:Cengage LearningPkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE L
- Business/Professional Ethics Directors/Executives...AccountingISBN:9781337485913Author:BROOKSPublisher:Cengage
Accounting Information Systems
Finance
ISBN:9781337552127
Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill
Publisher:Cengage Learning
Pkg Acc Infor Systems MS VISIO CD
Finance
ISBN:9781133935940
Author:Ulric J. Gelinas
Publisher:CENGAGE L
Business/Professional Ethics Directors/Executives...
Accounting
ISBN:9781337485913
Author:BROOKS
Publisher:Cengage