The farther one moves up the organizational chart, the easier, faster and cheaper the job looks. Comment on the relevance of this statement wr.t. Project Budgeting
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The farther one moves up the organizational chart, the easier, faster and cheaper the job looks. Comment on the relevance of this statement wr.t. Project Budgeting
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- operation managment Hi class, I had to do a bit of research to learn about what these two types of budgets are. I found that zero based budgeting gets its name because it assumes that the budget is build from zero. Or, nothing is carried over from previous years/periods. A benefit of this, is that it forces the team to carefully examine each expense added to the budget, since nothing is carried over from before. Incremental budgeting is very different as it does take into account previous periods to build budgets. By using the previous budget as a base, and making adjustments as needed, it allows for a fluid, "forward-looking budget", as the article put it. Thanks for reading, Angel M. Please respond to this classmates post.You are required to conduct a literature search and discussion in this assignment.You are to choose a peer reviewed journal article (from any country) on the: -Use of Budgeting as a management technique for managing resources.The article should be published between 2010 – 2020. Choose your article only after you have accessed several relevant articles, and then choose the best articles that will answer the assignment question below.Required: Critically evaluate the relevance and challenges of budgeting systems by answering the 5 questions below:Questions:1. Briefly discuss the budgeting process. 2. Based on your selected journal article, discuss citing examples whether the budgeting process satisfies the purpose of planning, controlling and evaluating performance. 3. The two widely used practices in preparing budgets are ‘top down’ budgeting and ‘bottom up’ budgeting. Identify and explain the practice adopted by the organisation discussed in your selected journal article and further…Please solve this. Mega Empire Bhd. is in the inital stages of preparing the annual budget for next year. Danial, has recently joined the company as management accountant and is interested to learn as much as possible about the company’s budgeting process. After the recent meeting with the Sales Manager who is Zack and Aaron as the Production Manager, Danial initiated the following conversation. Danial: Since I am new around here and I am going to be involved with the preparation of the annual budget. I’d be interested to learn how the two of you estimate sales and production numbers. Zack: We start out very methodically by looking at recent history, discussing what we know about current accounts, potential customers, and the general state of consumer spending. Then we add the usual dose of intuition to come up with the best forecast we can. Aaron: I usually take the sales projections as a basis for my projections. Of course we have to make estimate of what this year’s ending…
- what is the solutions to the debt problems of the organization, layoffs and freezing salaries?Malik is looking to successfully implement MBO in his organization. To this end, he is focusing on three out of five divisions: accounting, sales, and distribution. He is going to first start with these three divisions and then implement MBO in operations and human resources if everything goes smoothly. Based on this information, Malik will have an effective MBO program. True or FalseHow to respond to this in 100 words? The SWOT matrix is an extension of the SWOT analysis as it relates to the alternative characteristics relevant to the internal strengths and weakness within the organization. The SWOT matrix strengths and weaknesses are created and listed on the left side vertically, while the opportunity and threats is across the top. The significance of the SWOT matrix is not confusing the external opportunities with the possible course of actions. "The SW/OT matrix is a systematic means of developing strategic alternatives available to the organization, but it also requires brainstorming and creative skills as well” (Parnell, 2017, p. 229). The SWOT matrix is a valuable tool that managers can use while leveraging strengths and weaknesses within an organization. There are also four classifications that can appear from the SWOT matrix which drives multiple strengths or weaknesses, in conjunction with opportunities or threats. However, emphasis should be geared…
- Give typing answer with explanation and conclusion What do you think? Is there any merit to middle-out budgeting? Which approach do you think is best for a small organization, such as a three-doctor medical practice? What about a 600-bed hospital?Some of the major decisions management must take concern the behavior of sales, costs and profits under varying conditions. For effective planning and control it is important that management should be aware of any relationship which exists between sales, costs and profits for changing levels of activity. Management makes use of the information provided by the accounting system to plan and control future operations. The information, to be meaningful, must be provided and presented in such a way that it will appeal to management. Break even analysis and Cost-Volume- profit-Analysis are some of the ways in which information concerning sales, costs and profits relationship is presented to management in a clear and appealing form Required: a). Discuss how break even analysis can aid management in decision making b). Discuss the practical difficulties associated with the…Suppose a colleague of yours is gearing up to write a business plan for a business she intends to start. She told you she plans to prepare the financial statements first to get that job out of the way before she tackles the rest of the plan. What is the flaw in your colleague’s logic as described to you?
- On successful completion of this assignment, you will be able to: Identify and critically analyse principles and trends in performance measurement and control. Determine the different budgeting techniques and critically evaluate their use in short term decision making. Analyse the current approach to performance measurement and control in a selected global organisation and critically appraise suggestions for improvement of current practices. Critically appraise the application of performance criteria in not or profit and public sector organisations. Your Task Cat's Habitat is a cat rehoming shelter where stray cats can find new homes. This organization is a non-profit that has been in operation for five years. Cat's Habitat has seen an increase in the cost of food, toys, and other operating expenses over the last three years. As a result, the shelter has had to try to reduce the costs associated with its operations, which it has done by reducing the number of paid employees who work…On successful completion of this assignment, you will be able to: Identify and critically analyse principles and trends in performance measurement and control. Determine the different budgeting techniques and critically evaluate their use in short term decision making. Analyse the current approach to performance measurement and control in a selected global organisation and critically appraise suggestions for improvement of current practices. Critically appraise the application of performance criteria in not or profit and public sector organisations. Your Task Cat's Habitat is a cat rehoming shelter where stray cats can find new homes. This organization is a non-profit that has been in operation for five years. Cat's Habitat has seen an increase in the cost of food, toys, and other operating expenses over the last three years. As a result, the shelter has had to try to reduce the costs associated with its operations, which it has done by reducing the number of paid employees who work…On successful completion of this assignment, you will be able to: Identify and critically analyse principles and trends in performance measurement and control. Determine the different budgeting techniques and critically evaluate their use in short term decision making. Analyse the current approach to performance measurement and control in a selected global organisation and critically appraise suggestions for improvement of current practices. Critically appraise the application of performance criteria in not or profit and public sector organisations. Your Task Cat's Habitat is a cat rehoming shelter where stray cats can find new homes. This organization is a non-profit that has been in operation for five years. Cat's Habitat has seen an increase in the cost of food, toys, and other operating expenses over the last three years. As a result, the shelter has had to try to reduce the costs associated with its operations, which it has done by reducing the number of paid employees who work…