We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.
Nobody downloaded yet

Working with Budgets - Assignment Example

Comments (0) Cite this document
Summary
There are a number of budgets that an organization may adopt in planning for its future activities as well as for monitoring performance and evaluation of different areas within the organization. Myself, for instance, work with different types of budgets for planning and…
Download full paper
GRAB THE BEST PAPER
Working with Budgets
Read TextPreview

Extract of sample
"Working with Budgets"

Download file to see previous pages It also assists in avoiding idle cash and any cash shortage that may adversely affect the organization. The cash budget consist mainly of four sections: Receipts, where cash balance at the beginning is entered plus all other cash collections from customers and other receipts; disbursement section, where all the cash payments are entered; cash surplus or deficit column, where the difference between receipts and payments are entered and finally, the financing section, enumerating a detailed account of repayments and borrowings expected during the financial period.
The other budget that I work with in the organization where I work is the operating budget. This refers to a statement representing the organization’s financial plan for each duty center during the budget period and shows the operating activities involving expenditures and revenues. The various types of operating budgets I work with include revenue, expense and profit budgets. Revenue budget mainly identifies the revenue needed by the organization and mainly projects organization’s future sales. Expense budget is an operating budget that identifies expected future expenses during the budget period. These include fixed, variable and discretionary costs. Profit budget, on the other hand, is a combination of revenue and expense budget into a single statement to reveal the net and gross profit realized during the period. This budget is important because it aids in making final resource allocation (Ippolito, 2004).
Working with different types of budget separating makes work harder as the organization I work with has been adopting this system. To make work easier, it is imperative that these budgets should be linked together in form of a master budget. A muster budget will be able to incorporate all the organizations financial and operating plans for the entire period (Cooke ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(“Working with Budgets Assignment Example | Topics and Well Written Essays - 250 words”, n.d.)
Retrieved from https://studentshare.org/finance-accounting/1601218-working-with-budgets
(Working With Budgets Assignment Example | Topics and Well Written Essays - 250 Words)
https://studentshare.org/finance-accounting/1601218-working-with-budgets.
“Working With Budgets Assignment Example | Topics and Well Written Essays - 250 Words”, n.d. https://studentshare.org/finance-accounting/1601218-working-with-budgets.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document
CHECK THESE SAMPLES - THEY ALSO FIT YOUR TOPIC
Budgets
It is a framework for monitoring the financial performance of the business. Financial benchmarking enables businesses to learn lessons from others and help them identify areas they have to concentrate on (Platen & Heath, 2009). The benchmarking technique used include; operational review and financial ratios.
3 Pages(750 words)Assignment
Working Conditions
e tobacco for religious rituals until modernization took place in the next centuries and smoking cigarettes become part of the status quo as it gained popularity especially in social bonds and gatherings (Gilman and Zhou, 2004). The popularity of tobacco and cigarettes are not
2 Pages(500 words)Assignment
Working Capital
Every organization irrespective of its size and nature of the business in which it is operating requires necessary amount of working capital. Efficient maintenance of working capital is important for creating value for
2 Pages(500 words)Assignment
Working with Budgets
These include the master budget, cash budget, sales budget, production budget, labor budget, manufacturing overhead budget, operational and administration budget and lastly, the distribution budget (Kemp,
1 Pages(250 words)Assignment
Compare and contrast the fixed and flexible budgets
Budgeting ensures that the organisation neither runs short of cash to support its processes nor hold excess cash than necessary. In most cases, many organisations use fixed budgets, which reflect company’s cash inflows and
5 Pages(1250 words)Assignment
Financial Acconting exercises: Flexible Budgets
Furthermore, the company has not been able to control its expenses including mobile team operating costs, exterminating supplies,
2 Pages(500 words)Assignment
Budgets
Budget reporting helps the organization to monitor and revise between the two sets of performance. Budget accounting and reporting are two vital processes that assist organizations to
1 Pages(250 words)Assignment
Comparison of Two Types of Operational Budgets
Flexible budgeting starts with the identification of all fixed costs and their isolation in the form of a budget (Finkler, Jones & Kovner, 2013). The fixed costs are then coded into the budget model while variable costs
4 Pages(1000 words)Assignment
Cost, Budgets and Strategic Decision Making in Management Accounting
Management accounting includes communicating information to the affected employees. Budgets are important management priorities. The operating budget is done in several consecutive steps (Debarshi, 2011). First, the revenue or sales budget is prepared. The marketing
5 Pages(1250 words)Assignment
'Working with and Leading people'
The first section concludes with an evaluation of the roles and responsibilities of a recruitment manager. The second part of the
8 Pages(2000 words)Assignment
Let us find you another Assignment on topic Working with Budgets for FREE!
Contact us:
+16312120006
Contact Us Now
FREE Mobile Apps:
  • About StudentShare
  • Testimonials
  • FAQ
  • Blog
  • Free Essays
  • New Essays
  • Essays
  • The Newest Essay Topics
  • Index samples by all dates
Join us:
Contact Us