Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Budgetary planning and control and the evaluation of performance - Essay Example

Comments (0) Cite this document
Budgeting is a key component in the management process. Understanding what a budget is and the role budgeting plays is essential to the proper exercise of a manager's responsibilities, which include planning, organizing and staffing, directing or leading, and controlling…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.8% of users find it useful
Budgetary planning and control and the evaluation of performance
Read TextPreview

Extract of sample "Budgetary planning and control and the evaluation of performance"

Download file to see previous pages It represents a plan for the future expressed in formal, measurable terms. (Botner, Stanley, 1991).
To be helpful, a budget must be prepared in sufficient detail to inform all levels of management of the exact expectations. It is not sufficient to establish a personnel budget for an institution and limit the detail to a statement of the overall number of employees. This serves no purpose except, perhaps, as part of a summary. Rather, a personnel budget should detail the quantities and types of full-time equivalents by department or cost center, perhaps by shift or by workstation. It should detail the salaries to be paid and the components, including routine, overtime, shift pay, cost of living or merit increases, and so on. All positions -- vacant and otherwise -- should be included in the budget. To assemble the quantity of data necessary to support a detailed plan, a matrix organization of rows and columns is essential. The matrix allows a significant amount of information to be displayed in an orderly manner and a limited amount of space. If organized properly, interrelationships can easily be seen, the data can be viewed and understood quickly, and the chance of arithmetic error can be reduced or eliminated. Figures 1-1 and 1-2 display two such matrix-style worksheets for a nursing department's personnel budget in computer spreadsheet form.
One other advantage of a matrix-style worksheet is that it can help guard against errors of omission by specifying certain data to be collected in a particular set of columns or rows. Rather than calculate a salary budget and mistakenly omit "charge pay" or other premium payments, the worksheet can be set up in advance and require that information about these premiums be included for use in the calculations. In order to minimize the chance of leaving something out, it is best to set up budget spreadsheets well in advance of the actual budget preparation schedule and carefully consider actual data requirements. Remember that because computer spreadsheets can hold so much data, it is better to err on the side of collecting too much, rather than too little, data. (Klay, Earle, 2003)
Personnel resources that pose a particular problem in terms of recruitment and/or retention can also be dealt with in the budget by inclusion of a recruitment plan, a budgetary emphasis on human resource development and training, or
Figure 1-1 XYZ Memorial Hospital Nursing Budget -- Salaries, Fiscal Year 19XX
Head Nurse
Charge Nurse
Clinical Specialist
RN - I
Nursing Aide
Unit clerk
This matrix organization allows the salary data for five nursing units to be aggregated and displayed in such a way that the dollar amounts by type for each nursing unit can be compared easily with those for the other four units. The dollar values are added both down and across; and since the total from the rows must equal the total from the columns, the chance of arithmetic error is reduced or eliminated.
Figure 1-2 XYZ Memorial Hospital Nursing Budget-FTEs and Salaries, Fiscal ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Budgetary planning and control and the evaluation of performance Essay”, n.d.)
Budgetary planning and control and the evaluation of performance Essay. Retrieved from
(Budgetary Planning and Control and the Evaluation of Performance Essay)
Budgetary Planning and Control and the Evaluation of Performance Essay.
“Budgetary Planning and Control and the Evaluation of Performance Essay”, n.d.
  • Cited: 0 times
Comments (0)
Click to create a comment or rate a document

CHECK THESE SAMPLES OF Budgetary planning and control and the evaluation of performance

Effects of Human Resource Systems on Manufacturing Performance and Turnover

Most of these developments, not surprisingly, have come from communities of scholars focusing on their own particular countries or regions, be it the US (for example, Arthur, 1994; Delery and Doty, 1996; Huselid et al., 1997), the UK (for example, Brewster, 1999; Guest et al., 2003), elsewhere in Europe (for example, D’Arcimoles, 1997; Lahteenmaki et al., 1998; Roderiguez and Ventura, 2003). The difference in perspective on the value of people in organizations and the validity of HRM, particularly in non-Western Countries may be best understood in terms of the concept of locus of human value (Jackson et al., 2003). Jackson et al. (2003) came up with a conceptual map of international organization and human resource management...
12 Pages(3000 words)Essay

Budgetary Control and Costing System

Job costing and Process Costing are the two basic methods of costing. Job costing is suitable to industries, which manufacture or execute the work according to the specifications of the customers. Process costing is suitable to industries where production is continuous and the units produced are identical. All other methods are combinations, extensions or improvements of these basic methods.

1. JOB COSTING: It is also called specific order costing. It is adopted by industries where there is no standard product and each job or work order is different from the others. The job is done strictly according to the specifications given by the customers and usually, the job takes only a short time for completion. The purpose of...
17 Pages(4250 words)Case Study

National Health Service Human Resource Planning

There are about 1500 primary care dentists who are working on a salaried basis with the NHS, in most cases employed by primary care trusts. This group of individuals was a part of the local government earlier but in 1974, they were transferred into the NHS. (Personnel Today, 2007). Starting from the year 1997 onwards, the U.K. Department for Education and Employment had allowed for additional funding of $7.2 million to ensure that medical schools are able to pay clinical academia staff the awards that have been recommended for doctors and dentists in the NHS, by the Doctors and Dentists Review Body (Beecham, 1996). This move was initiated to introduce pay parity because university employers found it difficult to pay the 3.8% incre...
14 Pages(3500 words)Term Paper

Effective and Ineffective Evaluation Tool

It has been an endless matter of debate for decades as to which methods reap effective results and which not.
One of the most effective tools for assessing students’ annual performance has to the one with a more comprehensive approach. The feedback by the teachers is very crucial for the students. It is the assessment plan which is developed by the teachers upon the on-going students’ achievements throughout the course and not merely upon the written traditional examinations1. It is considered to be an effective assessment tool because it reflects directly on the teaching and learning process of the teachers and students respectively. Feedbacks also help the students to engage in reflective, constructive and analy...
7 Pages(1750 words)Assignment

Weight Control as a Key to Self Improvement

To date, some 38 million Americans are “significantly heavier” than average, and because of this fact alone are targets for societal and institutional prejudice. People who are judged fat are discriminated against at work, school, in acquiring access to public accommodations, in applications for insurance, and access to adequate medical care. (Angier, 2005)

Many people take the words “obese” and “overweight” to mean the same thing. Actually, they are not. Overweight refers to an increased body weight (not necessarily increase in body fat) relative to height, above that which is generally accepted as a standard. (Capella University, 2004). Obesity, however, is “defined simply as...
16 Pages(4000 words)Thesis

An Evaluation of the Role That the Principles of Behaviour Therapy Have to Play in Clinical Hypnosis

Hamburg (2006) first used this combined effort to treat two patients who were scared of dying. He uses his paper to encourage clinicians to refrain from not using their knowledge at the introductory classes of hypnosis but to go into it deeper. Many therapists at that time were taking the bold step of combining behavior therapy with hypnosis (Chaves, 2006). One group used hypnosis for desensitization therapy (Kirsch et al, 1995). However, there was general disagreement about the manner of hypnosis being employed and the methods of mentalist constructs. Chaves who strongly believed in the treatment combination used it as a base for many of his therapeutic interventions (Chaves, 1997a as cited in Chaves, 2006). The hypnotic therapy...
8 Pages(2000 words)Article

Project Planning Human Capital

Project planning involves a lot of factors and areas that we need to address for the effective management and handling of the project. The aim of this report is to provide a deep insight into some of the main areas that we need to address for the project of Adams's family farmhouse renovation. These issues are project team communication, project risk management, and deadline handling. Effective communication in a project provides a huge advantage regarding the better working and handling of the project. I have selected a very significant project regarding the preservation of the old and historical places. Here we require effective communication to provide better interaction among the designer, developers, and history preservation...
8 Pages(2000 words)Coursework

Evaluation of Children with Visual Impairment between Ages 4-12

A visually impaired child may suffer from incomplete sight, reduced vision, total blindness as well as legal sightlessness (Kelley and Gale p 45). It is a condition that may become severe in a child, thereby affecting its growth and development. The impact is usually dependent on the kind of loss, age at which it occurs, as well as the general body functioning of the child. The normal interest that is usually evident amongst children on seeing attractive items in their surroundings lacks in a visually impaired child. This may interfere with the child’s learning capabilities unless he/she is assisted to learn. The development of social behavior in children usually depends on the ability to see parents or those in charge of ca...
6 Pages(1500 words)Coursework

Evaluation of Performance of a Bank Using Published Accounting Data

... charge-offs plus PLL and recoveries)/Total loans and leases). To evaluate the operational efficiency or cost control of the bank two ratios of Fixed occupancy expenses/Total expenses and Wages and salaries/Total expenses are calculated. The temporary investment ratio and volatility-liability dependency ratios are calculated to measure the liquidity of the bank. The idea of measuring these ratios is to determine the extent to which the bank has used ‘hot’ money to fund its riskiest assets. Apart from that, the other financial ratios that can be used to evaluate the performance of the bank may include tax rate (total taxes paid/Net income before taxes) and Dollar gap ratio (Interest rate sensitive assets – Interest rate sensitive...
7 Pages(1750 words)Case Study

What to Consider in Structure-Conduct-Performance Model

... for each of the firm. If they both play L then the profits would be half of what they would earn if they do not change. Part B The purpose of this essay is to critically analyze the extent to which the efficiency and equity considerations should be taken into account in the Structure-Conduct-Performance Model when it comes to deciding policies for the mergers between large firms. Firstly, the paper talks briefly about the Structure-Conduct-Performance Model and then moves onto discuss the importance of equity and efficiency in policy making for mergers. Introduction According to the Structure-Conduct-Performance Model, the performance of any industry depends on the firms’ conducts in the industry. The Conduct of the firms in turn depends...
6 Pages(1500 words)Essay
sponsored ads
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.

Let us find you another Essay on topic Budgetary planning and control and the evaluation of performance for FREE!

Contact Us