zero-based budgeting Essay

Currently there are over 700 employees all of which are paid by cheques printed on a bi-weekly basis. Manual cheque printing is neither cost nor time efficient. Payroll direct deposit can significantly reduce the production, administration and

By managing the budget the organization will be better prepared for the financial forecasts, which are the company’s future expenses. Some strategies and tools that will assist with managing the budget are zero based, activity based, performance based, cost

The budget for the city of San Clemente, California, fiscal year 2011 can be found at the following link:

15. What are your thoughts of the importance of understanding the per patient day (PPD)

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).

There are multiple ways to reduce waste, one of them being electronically. If people have email accounts, then letters can be sent this way rather than via post. Another way is to recycle waste, although maybe this may cause the same amount

In our text (Smith, 2014) “The advantage of the direct method is that it is simple to apply, and the cost allocation amounts are easy to explain and can be viewed as the “tax” for each indirect service that is applied to each patient service department.” The direct method uses on step to allocate the costs of the general services departments to patient services department. In other words they would take all the assignable expenses and assign them to each department by a cost driver to determine indirect costs to the company. The one step and generalization makes it easy to explain, which gives it an advantage over the step down method, but at the same token those same reasons can be a disadvantage because it would not be as in

This worldwide phenomenon has been brought into focus by various health care reforms and other system-level developments (Farrar, Ryan, Ross, and Ludbrook, 2000). Meaning there are more claims on resources than there are resources available, some form of priority setting must occur. This making resources are scarce and there is a need, regardless of how many resources are available in total, to make choices about what to fund and what not to fund.

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.

Based on the master budget, there have something wrong and unclear. All the numbers are the same, evenly quarter two have more sale than other quarter, at least less 30% than quarter two. We can easy to recognize with a few changes and we can achieve a goal $1.000.000

Personal Budget Exercise – Excel Creating a spreadsheet track personal business expenses is an excellent use of Microsoft Excel. For this exercise, you will create a spreadsheet to enter a personal budget and track actual expenses for the year. You may choose to use real data or create a fictitious budget using a monthly income amount of $2,500. Here are suggested budget categories if you are not using a real budget. At a minimum, you must have 9 budget categories: Housing (mortgage or rent) Utilities Car payment Insurance Student Loans Food Misc. Entertainment Gas Savings

Budgeting is the systematic method of allocating financial, physical, and human resources to achieve an organization’s strategic goals. Budgets are utilized by for-profit and non-profit organizations to monitor the progress towards the goals, assist in the control of spending, and help predict cash flow for the organization.

Cost-benefit, cost-effectiveness and cost-utility analyses are forms of economic evaluation which are useful in health economics for comparing costs and allocating resources. Health economics is widely relevant to governments and the health sector in implementation of new policy, as it concerns the allocation of resources in the context of a limited budget, or 'scarcity'. Economic evaluation is a potential tool for setting priorities in health, though it is only one of many potential criteria, including overall budget and public attitudes and wants. Economic evaluation is already in use in some settings, such as in pharmaceutical company proposals for government subsidisation, but there is room for expansion across the field of

Another advantage is control and evaluation. It helps to think about how to correct company’s problems, if they have them. Motivation is another important advantage. Budget can motivate to reach the goals. It also can force managers to think and plan for the future. Budgeting helps to ensure that everyone in the organisation is pulling in the same direction. The budgeting process provides a means of allocating resources to those parts of the organisation where they can be used most effectively.

The 20’s century saw the use of budget involve due to a change in the environment. Indeed the control of output used to be obtained by the dissemination of tasks and so traditional budgets were very much highlighted, with a significant top-down influence. As an example of the importance of budget in the 1970’s IBM had about 3,000 people involved in their budgetary process. During the same period, the oil crisis brought concerns about rising in costs and led to the introduction of zero-based budgeting (ZBB), which can lower cost by avoiding blanket increases or decreases to a prior period’s budget. The increase in business uncertainties was in discrepancy with the stifling effect of fixed plans, promoting the use of rolling budgets. The 1990’s saw the growing influence of shareholders and steered the focus on a budget that included a wider view of organisation results, answering the investment community for quarterly updates on results and expectations (Bill Ryan, 2005). Budgets then started being used as a communication tool between the financial community and the organisation, allowing the corporation to be integrated in the capital market. Moreover companies started using flexible budgets rather than static budgets as nowadays various levels of activities can be observed in most organisations. The use of flexible budgets then enables firms to be consistent with their new environment and the market.