Accounting
A static budget is defined as a budget that is "planned ahead of time based on the owner's best guess about future actual activity." This type of budget is therefore put together for the upcoming time period, and is often based on the data from past time periods, plus or minus different adjustments that management thinks will be necessary. In contrast, a flexible budget is one where the business management can make changes in the midst of an accounting period. Flexible budgeting allows for management to make better decisions on the fly, because the information used in those decisions is kept more up-to-date. Static budgeting relies only on the ability of management to analyze the numbers after the period in order to determine the magnitude and direction of variance, along with the causes of variance. For a flexible budget, management can identify issues with the budget right away, and take steps to deal with them. The new strategy and tactics can then be reflected the budget.
For the charter school, the budget presented is basically three static budgets. The budgets are set depending on the number of students, which is unknown. However, this budget does not reflect capacity to update the figures depending on what actual enrollment looks like. Instead, management would probably just use the closest number to the actual as a comparable when looking at variance. Thus, only one of these three budgets would actually be chosen for the variance analysis.
The total revenue per student, excluding grants, and net of the TRA reduction, is $6,064.06. This is determined by adding up the different revenue categories to determine a total non-grant revenue figure per student.
In calculating the total expenses...
Accounting Process and Financial Statements. A reliable internal system of accounting is an essential element of a solvent profit or nonprofit business entity. By recording virtually every business activity or endeavor, with regards to the creation of monetary inflows of sales revenue and monetary outflows of expenses resulting from operating activities; an accounting system should provide the financial information needed to evaluate the profitability or effectiveness of past and operations.
Programme: Professional Diploma Management ACCOUNTABILITY AND FINANCIAL ANALYSIS For a very long time now since the past up until the present moment, budgets had had a key and integral role to play in accounting and also management control. Budgeting is an aspect or notion that is by now ingrained and deep-rooted in the viewpoint of business (DeWaal, 2005; Becker, Messner and Schaffer, 2009). The following paper will seek to show what budgeting
Opening an Outpatient Wound Clinic Categories in Budget (Fixed and Variable Expenses) Budgeting for the outpatient wound clinic includes both fixed and variable expenses. Fixed costs are reported in the work of Swansburg (1997) to be unrelated to volume and to remain constant, as there are increases and decreases in volume over a time-period. Fixed costs are reported to include such as: (1) Depreciation of equipment and buildings; (2) Salaries; (3) Fringe benefits; (4) Utilities; Interest on
The plaintiff, however, has a burden of proof prior to any other technical issues. In addition, because of the nature of the allegation, and the fact that normal members of a jury or judge cannot be expected to understand complext medical terms and procedures, expert witnesses are typically called -- usually for both sides (Uribe, 1999). In the United States, there have been several cases that have set international precedence
(CPA News, 2008) It is related in the CPA News article that brand and marketing strategy should involve making clients aware of the green building services of the firm prior to beginning construction on a new green building or in the case in which they are thinking about "retrofitting an existing one. There are substantial tax deductions available..." (2008) for both. FINDINGS & CONCLUSION It has been indicated in this study that
These controls can include having a standardized procedure for the preparation of the forecast budget or through the application of budgetary slack. The lower the slack management allows in the forecast budget, the greater the lower the variance that can be expected, in particular when the manager making the forecast has reputation at stake on the variance (Ibid). Reputation is an external driver, while ethics are an internal driver
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