Business and Administration

• Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

This section will help you to evidence Learning Outcome 2: Understand how to develop budgets.

The budget process is a powerful planning tool for government to make important resource decisions. According the Carney and Schoenfeld‘s article on How to read a Budget, an operating budget is a reflection of government’s financial plans. When a budget is

Identify the problems that appear to exist in Ferguson & Son Manufacturing Company’s budgetary control system and explain how the problems are likely to reduce the effectiveness of the system.

Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

• Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

• Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

• Then, go to www.vision2learn.com and send your completed Assessment to your tutor via your My Study area – make sure it is clearly marked with your name, the course title and the Unit and Assessment number.

Please note that this Assessment has 6 pages and is made up of 3 Sections.

This research essay will evaluate and judge certain parts of the 2003-2004 budget put forward by Treasurer Peter Costello and the Howard Government on Tuesday the 13th of May. It is my opinion that the budget has not been equitable in some areas of fund distribution. The budget will be assessed on the three following criteria.

Understanding the sources (incomes) and uses (expenses) of funds, and the budget deficit/surplus that results, are core accounting measures to consider in short and long term personal financial planning. Also, grasping key concepts like how your salary/wages are earned and segmented/taxed is important in determining your net incomes. How to approach deficits and surpluses and their associated action plans come from sound accounting understanding. Accounting develops controls on how to deal with budget deficits like increasing income, reducing expenses and borrowing. Understanding how sunk costs and opportunity costs factor into alternative choices and borrowing come to us from sound accounting knowledge and play a role in personal planning. Lastly, through various standard reporting approaches, we, though accounting, can develop the ability to look at current and future personal finance decisions and health via income statements, balance sheets, ratios and other common size book keeping measures.

Term A budget can be a means of communicating a company 's objectives to external parties. (T/F)

(E)  describe actions that might be taken to balance a budget when expenses exceed income; and