spend analysis

Compares five to seven expense results with budget expectations and describes possible reason for variances and strategies to keep results aligned with expectations

Describe how you would conduct the audit process, incorporating the analytical procedures you would use to investigate selected business transactions?

2.1 Evaluate the decision making models which are used to support decision making 2.2 Identify those to be involved in analysing information and decision making 2.3 Evaluate methods of presenting decisions made

3. Explain two methods that can be used in order to identify realistic estimations when developing a budget. [2.2]

This research paper is a brief discussion of budget management analysis. Budgeting is the key to financial management, and is the key to translates an organization goals or plan into money. Budgeting is a rough estimate of how much a company will need to get their work done, and provides the basis for evaluating performance, a source of motivation, coordinating business activities, a tool for management communication and instructions to employees. Without a budget an organization would be like a driver, driving blinded without instructions or any sense of direction, that’s how important a budget is to every organization and individual likewise (Clark, 2005).

The changes I am recommending are based on the target reduction required to reduce the expenditures. This will involve

Discuss three or more national and local developments OR current trends in health care & discuss how those trends influence the budget and how the organization does business.

Breakfast =$3, Gas+ $24, Lunch= $8, Pharmacy expenses = $12, Dinner +$10. Total = $67

A company's budget serves as a guideline in planning and committing costs in order to meet tactical and strategic goals. Tactical goals such as providing budgetary costs for daily operations, and strategic objectives that include R&D, production, marketing, and distribution are all part of the budgeting process. Serving as a guideline rather than being set in stone, the budget is a snapshot of manager's "best thinking at the time it is prepared." (Marshall, 2003, p.496) The budget is a method in which to reign-in discretionary spending, and will likely show variances between what costs have been anticipated and what costs are actually incurred.

By linking cost management efforts to budgeting, companies improve the quality of information available for managers to use in developing their budgets. Accurate cost information is fundamental to budgeting. Companies that use accurate cost management techniques and provide budget developers with ready access to cost information improve both the accuracy and the speed of their budget process.

Describe how the budget is used to monitor work, performance, variation, and team/ division outputs.

Bhimani, A., Horngren, C., Datar, S., Rajan, M. et al. (2012) Management and Cost Accounting. 5th ed. Edinburgh: Prentice Hall, p.369 - 378.

The Following involves the analysis of the costing techniques followed by the company along with its Budgeting system. It also involves the Investment appraisal analysis for the given data.

The budgeting system allows the managers of each department monitor their expenses in which budgets have been set for materials, salaries and legal expenses amongst others.

the  strategic  management  accounting  technique  used  and  Carlianne will provide  an  analysis of our results.  Courtney