Their insights can help to determine the longer term impact on them. Students were included because they can show how these cuts will affect them and offer ideas about ways to possibly offset them. Teachers can discuss how certain decreases will affect the quality of education and their ability to educate students. (Lunnenburg, 2011) (Olden, 2012)
The people who are excluded from the budgetary process were selected because they can create more challenges in making the necessary reductions. Special interests will not be allowed to participate, based upon the fact that they will want to keep certain programs fully intact without considering the long-term effects of the school. Community members, who do not have children at the school, will not participate in the process. This is from their lack of understanding these challenges and bias in preserving certain programs (i.e. sports). Their loyalties are focused on maintaining these programs at…...
mlaReferences
Trenton Public Schools. (2013). Teachade. Retrieved from: http://districts.teachade.com/l/6638/Trenton-Public-Schools
Lunnenburg, F. (2011). Educational Administration. Belmont, CA: Wadsworth.
Olden, R. (2012). Improving Student Learning. Thousand Oaks, CA: Corwin.
Budget Airlines: The Destruction of Australia's
Domestic Tourism Industry or Convenient ay to Travel Internationally?
ith such a beautiful and exotic national landscape, one can immediately garner why Australia is a travel destination for many tourists. However, it is easy to overlook the fact that many of these tourists, whose travel is crucial to the Australian economy, are in fact native Australians looking to explore their vast and varied national landscape. One would believe that Australian-based flights would be on the rise within the country, but in truth, Budget airlines such as Air Asia and Tiger Airways are believed by some to be heralding the death of the domestic tourism industry in Australia, as their cheap flights draw would-be domestic travelers into the international travel sphere.
ith carriers offering such cheap packages to Asia, it appears impossible for local destinations to compete. As such, the question has been raised amongst Australians and individuals…...
mlaWorks Cited
Asia Travel Tips. (2012 March 14). Asia Launches Exit Australia Promotion. Asia Travel
Tips. Web. Retrieved from: http://www.asiatraveltips.com/news12/143-
AirAsia.shtml. [Accessed on 20 May 2012].
Creedy, S. (2008 June 26). "Qantas, Singapore deny merger speculation due to fuel prices." The Australian. Web. Retrieved from: http://www.theaustralian.com
Budgeting as an Adequate Tool for Planning and Control in Organizations:
A budget apart from being a coordinated and comprehensive financial plan for the resources and operations of a given future period is also intended to promote the managerial functions of control and planning. Over the years a budget has been perceived as a tool for forced planning as it constitutes the most important and basic management functions since other managerial functions such as staffing, organizing, controlling and directing are dependent on effective planning. Planning entails aligning company goals and objectives and finding out means in attaining these. Besides, decision making being at the heart of planning, effective strategies and policies must be able to contribute to the objectives and plans. (Talal, 1986)
A proper budgetary system must be able to underline and extend the planning role of all levels of management. Managers will be under obligation to look into the future…...
mlaReferences
Cartac. (n. d.) "Strategic Budgeting" Retrieved 23 March, 2012 from http://www.cartac.org/UserFiles/File/Joint%20MFM-PFM%20Conference%20Barbados%20Nov%202010/day%202-1b-%20StrategicBudgetingPFM%20-SILINS.pdf
Daum, Jurgen H. (2002) "Beyond Budgeting: A Model for Performance Management and Controlling in the 21st century" Controlling & Finance, pp: 17-20.
Michael, Alexa. (2007) "Beyond Budgeting Topic Gateway Series No. 35"
Retrieved 23 March, 2012 from http://www1.cimaglobal.com/Documents/ImportedDocuments/cid_tg_beyond_budgeting_oct07.pdf
Budget plan is a quantitative expression of planned income and expenses for a given financial year. A budget contains an estimated projected expenses and revenue for a financial year. A budget also reveals the estimated costs, expenses, liabilities and assets and the cash flows for a fiscal year. Syracuse is an historic city based in Sicily, and the city budget for 2011-2012 fiscal years is to achieve a balanced between the expenditures and the revenues.
Objective of this report is to present the analysis of Syracuse budget. The Syracuse budget contains the detailed operating financial data that consist of the revenue and expenditure for a financial year. The budget analysis contains the evaluation of the strengths and weakness of the 2011/2012 operating budget document of Syracuse city. Moreover, the report will contain the evaluation of capital budget as well as recommendations for the improvement of the budget process and public presentation.
Strengths…...
mlaReferences
Raymond S. Schmidgall, D.K. Hayes, J.D. et al. (2003). Restaurant Financial Basics. Wiley & Sons. USA.
Syracuse City (2012).Budget for the City of Syracuse for the Period of July 1,2011- June 30, 2012, Syracuse City.
Miner, S.A. (2013).Capital Improvement Program 2010/11-2015/16 City of Syracuse, New York. Syracuse City.
New York City (2010).Understanding New York City's Budget A Guide to The Capital Budget. New York City Independent Budget Office.
Budget Variance
Managing budgets and keeping within those boundaries is a difficult task and requires a steadfast approach with practical strategy. Budget forecasts often are used as important guidelines that are used to keep organizations in line with their corporate strategy. Although this seems rather simple, it is not. The purpose of this essay is to discuss and highlight specific strategies that can be applied to assist in managing a budget within a given set of forecasts. This essay will also compare some expense results that have fallen out of the variance range and discuss the possible reasons for this occurrence. This essay will conclude by discussing benchmarking techniques that will eventually contribute to improving budgeting techniques including forecasting.
Budgeting and Forecasting
Nayab (2011) suggested that "both budgets and forecasts provide estimates, and construct models of how a business might perform financially if the expected events and plans play out as desired. The…...
mlaReferences
Benjamin, T. (ND). How to Use Benchmarking Techniques Effectively. Chron, ND. Viewed 31 Aug 2013. Retrieved from effectively-13083.htmlhttp://smallbusiness.chron.com/use-benchmarking-techniques -
Harris, S. (2012). Variance analysis of forecasts also important to financial close. Journal of Accountancy, March 2012. Retrieved from http://www.journalofaccountancy.com/issues/2012/mar/varianceanalysis
Kelessidis, V. (2000). Benchmarking. ADI January 2000. Retrieved from http://www.adi.pt/docs/innoregio_benchmarking-en.pdf
Nayab, N. (2011). Forecasting vs. Budgeting: What's the Difference? Bright Hub, 22 Aug 2011. Retrieved from http://www.brighthub.com/office/entrepreneurs/articles/123586.aspx
Budgeting
Kudler Fine Foods Budget
The budgeting here will be from the absorption approach which is a budgeting process that considers all business overheads to be the product cost which eventually become an expense in the form of manufacturing cost of the goods and are sold as sales take place.
Budget for Kudler Fine Foods
Item
evenues (Net sales)
$19,921,220
$22,092,633
$24,500,730
Cost of goods sold (less ending inventory)
$13,307,028
$14,570,893
$15,879,815
Total expenses
$1,928,722
$2,047,656
$2,177,855
Net operating income
$5,477,292
$5,474,084
$6,443,060
Integrative Marketing Agency (2010).
The growth rate of Kudler Fine Foods for the three years projected in the budget is 1.109% with varying profit margin of 27.49% for 2012, 24.78% for 2013 and projected 26.3% for 2014. The expenses are seen to grow with the revenues as well. This is a trend that has been consistent with the company over the last few years and into the portrayed years in the budget above.
The current GDP of U.S. stands at 1.1% for the first quarter and 2.5% for the second…...
mlaReferences
Bigelow L., (2013). Static vs. Flexible Budgets for New Businesses. Retrieved September 9, 2013 from http://smallbusiness.chron.com/static-vs.-flexible-budgets-new-businesses-20879.html
Bureau of Economic Analysis, (2013). U.S. Economy at a Glance: Perspective from the BEA Accounts. Retrieved September 9, 2013 from https://www.bea.gov/newsreleases/glance.htm
Integrative Marketing Agency, (2010). Kudler Fine Foods: Strategic Plan for Future Growth 2010. Retrieved September 9, 2013 from http://integrativemarketingagency.files.wordpress.com/2011/08/kudler-foods-strategic-plan-ima.pdf
Trading Economics (2013). United States Interest rates. Retrieved September 9, 2013 from http://www.tradingeconomics.com/united-states/interest-rate
How the Old Westbury College athletics budget is tied to its mission and vision: The conceptual framework
Maverick's mission and vision
Mission
The mission of the team is to produce athletes who are unparelled in their areas of sportmanship.
Vision
To bring up athletes who are men and women of integrity and are performers in almost all important faculties of life and the society.
The budgetary allocation
The budgetary allocation will take into account the relative importance that the athletic activities are given by the American society and the concerned intercollegiate organization such as Athletics in the Mid-American Conference. In this regard football would receive the highest amount of budgetary allocation. The allocation would be as follows:
Maverick's Budget Worksheet
SAMPLE
Team Name: Mavericks
Year: 2010-2011
# of Members: 1,700
Affiliation / and insurance Expenses
Total
Association:
National Dues
$500,000
League Dues
$400,000
$900,000.00
Liability Insurance
Insurance
$3,000,000
Total Affil./Insur. Expenses $3,900,000
Competition Expenses
Total
eferee/Officials Fees
Date / Opponent
$10,000
10,000
Entry Fees
Date / Event
$10,0000
Date / Event
Date / Event
$10,000
egionals
Date / Event / Location
$250,0000
Date / Event / Location
Date / Event /…...
mlaReferences
Bunce, P., Fraser, R. And Woodcock, L. (1995) "Advanced budgeting: A journey to advanced management systems," Management Accounting Research, 6(3), pp. 253-65.
Kaplan, R.S. .,Norton. DP (2001). The Strategy-Focused Organization: How Balanced Scorecard
Companies Thrive in the New Business Environment. Boston: Harvard Business School Press.
Neely, a., Sutcliff, M. And Heyins, H. (2001) Driving value through strategic planning and budgeting. (New York, NY: Accenture). Otley,
udget Concepts
The Alice Hyde Medical Center is a medical organization located in Malone, NY (Home Page). It contains various services to the public, such as laboratory, imaging, surgery, rehabilitation, pediatrics, etc., as well as, the Family Maternity Center, Hastings Hemodialysis Unit, In Touch with Health (a community wellness program), the Dental Center, a Nursing Home, the Reddy Cancer Treatment Center, and the Sleep Disorders Laboratory. A big portion of the financing for the services, such as laboratory, imaging, surgery, etc., is drawn from patients from other units. For example, patients from the Reddy Cancer Treatment Center are sent to the laboratory for tests to monitor medications and conditions. Each service department and facility is treated as a separate unit with its own revenues and expenses.
The organizational concept, or technical structure, shows the relationship that should exists between functions, levels and activities of human and material elements of an entity to…...
mlaBibliography
Droege, S.B. (n.d.). Zero-Based Budgeting. Retrieved from Reference for Business: Encyclopedia of Business, 2nd ed.: http://www.referenceforbusiness.com/management/Tr-Z/Zero-Based-Budgeting.html
Home Page. (n.d.). Retrieved from Alice Hyde Medical Center: http://www.alicehyde.com
Theory concepts of budgets. (n.d.). Retrieved from College University: http://www.centrorisorse.org/theory-concepts-of-budgets.html
Budgeting Management
The purpose of this research is to explore the relationship between budgeting and planning functions. There are substantial diferences between strategic plans and long-term budgets -- both in how they are created and in the end products. Very few organizations really need a multiyear budget. In fact, for many organizations, including community banks, they can sometimes do more harm than good. The function of the budget is to maintain, protect, and allocate the organization's resources. The strategic plan prepares the bank to make future decisions, enabling it to take advantage of opportunities as they arise and to avoid or lessen the effects of adverse developments.
Significance:
Budgeting management is essential in determining projects which are actually essential for the company, in other words, projects which bring added value to the company. The logic behind this is quite simple: after determining how much you are actually willing to spend during an investment…...
Budgeting
The relevance of budgets when it comes to the management of organizational operations cannot be overstated. In this text, I discuss the various types of budgets. In so doing, I will make use of a hypothetical company by the name ABC Industries -- a Texas-based manufacturing entity. ABC produces blankets.
Types of Budgets
Budgets can be classified in numerous ways. The classification approach I adopt in this case is largely founded on the nature of an organization and its unique needs. To begin with, budgets can be classified on the basis of production flexibility. Under this classification, budgets could either be fixed or flexible. A fixed budget in the words of DuBrin (2011) "allocates expenditures based on a one-time allocation of resources." On the other hand, a flexible budget according to the author "allows for variation in the use of resources on the basis of activity" (DuBrin, 2011).
Budgets can also be classified…...
mlaReferences
Crosson, S. & Needles, B.E. (2010). Managerial Accounting (11th ed.). Mason, OH: Cengage Learning.
DuBrin, A.J. (2011). Essentials of Management (9th ed.). Mason, OH: Cengage Learning.
Hansen, D.R., Mowen, M.M. & Guan, L. (2009). Cost Management: Accounting and Control (6th ed.). Mason, OH: Cengage Learning.
Agency budget paper
The budgeting process is often dependent on the agreed upon and documented guidelines of the individual agencies in the US. The common things the underlie all the budgeting process is that they are meant to facilitate operations of the agencies and also to better the service delivery to the citizens or dwellers within the jurisdiction of the agency.
The New York City Council
The NYC council budget covers the cost of ruining g the city, for instance the pay for the sanitation workers, power and lights at the common amenities like the libraries as well as providing social services. The budgeting process starts with the city’s 59 community boards conduct public hearing and after this hands in their capital priorities to the mayor. The mayor then presents the preliminary budget proposal, after which the city council holds hearings on the mayor’s preliminary budget proposal, giving recommendations for amendments after which…...
mlaReferences
National Science Foundation, (2018). The Federal Budgeting and Appropriations Process (Accessible). Retrieved June 10, 2018 from NYC Independent Budget Board, (2013). Understanding New York City’s Budget: A Guide to The Capital Budget. Retrieved June 10, 2018 from https://www.ibo.nyc.ny.us/iboreports/IBOCBG.pdfhttps://www.nsf.gov/about/congress/federal_budgeting_accessible.jsp
Budgets
In budget planning, public administrators need to outline expenditures related to operational and capital budgets. In public administration, operational budgets are defined as day-to-day expenditures of a government while capital budgets refer to long-term investments for an organization. When creating budgets, public administrators are faced with the need to determine priorities for capital and operational budgets because of limited funding. The determination of priorities for operational budgets and capital budgets are affected by some factors, which are applied in the budget cycle. Similarly, capital budgeting process is affected by some factors that are applied in each budget cycle.
The most important factors that can affect the development of priorities for operational budgets relate to the three objectives of public expenditure management. In this regard, fiscal discipline, operational efficiency, and strategic resource allocation are important factors that influence the decision making processes of public administrators on priorities for operational budgets. These factors…...
mlaReferences
Schönbohm, A. & Zahn, A. (2012). Corporate Capital Budgeting: Success Factors from a Behavioral Perspective. Retrieved March 28, 2019, from World Bank. (n.d.). The Budget Preparation Process. Retrieved March 28, 2019, from http://www1.worldbank.org/publicsector/LearningProgram/PEAM/DorotinskyBackCh4.pdfhttps://www.econstor.eu/bitstream/10419/68243/1/733746489.pdf
Implications of Capital Projects for State Budgets Like many other states, Oklahoma is faced with some serious problems with respect to a deteriorating critical infrastructure, including most especially the need for repairs and improvements on its roads and bridges. In response, the Oklahoma Long Range Capital Planning Commission has recommended a series of long-term capital projects through fiscal year 2024 that are intended to address the most serious of these infrastructural problems. The purpose of this paper is to provide a description and brief overview of the Oklahoma Long Range Capital Planning Commission, the size of the state for which it is responsible and its overall responsibilities. In addition, a description of the types of government projects and the implementation process that are involved is followed by a discussion concerning the respective advantages and disadvantages of the projects on the state’s operating budget. Finally, a summary of the key findings and…...
mlaReferences
Davis, J., Hall, K. & Kaspereit, D. (2017). State of Oklahoma FY 17-FY 24 capital improvements plan. State of Oklahoma. Retrieved from documents/CapitalImprovementsPlan17-24.pdf.Capital budgeting in the states. (2018). National Association of State Budget Officers. Retrieved from https://www.nasbo.org/mainsite/reports-data/capital-budgeting-in-the-statesOklahoma population. (2018). World Population Review. Retrieved from http://worldpopulation review.com/states/oklahoma-population/The impact of capital projects on the operating budget. (2018). Government Finance Officers Association. Retrieved from http://www.gfoa.org/impact-capital-projects-operating-budgetWeaver, S. C. (2011, January 1). Capital budgeting procedures, policy, and practices. Journal of Applied Finance, 21(1), 39-43.https://www.ok.gov/DCS/
President Bidens Proposed Budget: Expectations vs. RealityPrior to conducting in-depth research on exactly how much money President Joe Biden wants to spend, I was somewhat convinced that it would stay under the $5.5 trillion mark. I was largely basing my assertion on the record $4.8 trillion Trump budget for 2021. As a matter of fact, I was largely convinced that owing to Bidens little interest in immigration restructuring, the budget would not be significantly inflated. It would be prudent to note that in his last budget proposal, President Trump had allocated significant sums of money to the Southern Border wall. Further, he had also allocated significant amounts to the development of state-of-the-art weaponry. These do not appear to be President Bidens pet projects.I was, thus pleasantly surprised to learn of President Bidens $6 trillion proposal. An informed assessment of this particular proposal indicates that the current president is keen on…...
mlaReferences
Groppe, M. (2021). President Biden\\\\\\'s budget proposal projects debt rising past WWII levels. https://www.usatoday.com/story/news/politics/2021/05/28/bidens-budget-proposal-expected-increase-federal-debt/7468014002/
Rogers, T.N. (2020). Warren Buffett: Billionaires don\\\\\\'t have \\\\\\'some diabolical plot\\\\\\' to hoard the country\\\\\\'s wealth — but we still need to raise taxes on the 1% to avoid a class war. https://africa.businessinsider.com/lifestyle/warren-buffett-billionaires-dont-have-some-diabolical-plot-to-hoard-the-countrys/wcblfr0
Tankersley, J. (2020). Biden’s Budget Includes $1.52 Trillion in Federal Spending.
https://www.nytimes.com/live/2021/04/09/us/biden-news-today
Review of the ProjectSummaryThis elaborate construction project was certainly impressive from the onset. With a budget of $1 million and a timeline of 12 months, the completion of this custom-designed hillside home with patio and retaining wall made for an ambitious effort. Meant to provide a family with the perfect destination for retreat, this dwelling stands as an impressive structure. It features 3000 square feet, 4 bedrooms, 3 bathrooms, a living room, family room, dining room and kitchen in addition to a two car garage and paved driveway. The exterior is made up of brick and stone while the landscaping presented beautiful native plants that are drought-tolerant. Though it ultimately went 20% over its anticipated cost and completion date, the investment was ultimately worth it for the clients due to its grandeur. This report provides a review of the project.Process for Closing out the ProjectTo close out the project, the…...
mlaReferences
Binder, J. (2016). Global project management: communication, collaboration and management across borders. Routledge.
Ho, A. T. K. (2018). From performance budgeting to performance budget management: theory and practice. Public Administration Review, 78(5), 748-758.
Larson, E., & Gray, C. (2017). Project Management: The Managerial Process 7e. McGraw Hill.
If you want to find out more information about education management and administration, the best way to do so may be to talk to an educational administrator. While they are similar to managers and administrators in other fields, there are unique skills needed in an education environment. Therefore, it should come as no surprise that almost everyone in this field begins as an educator.
Education management and administration deals with handling how the school runs. Scheduling, determining what classes a school should offer, determining hiring needs, and handling the teachers are all parts of school administration. One of....
Management accounting combines traditional accounting responsibilities with management responsibilities, which allows a company to align budgetary considerations with the people handling the money. There are a variety of different topics in management accounting that could serve as a good springboard for research, because how it is applied can vary tremendously depending on the size, purpose, and structure of an organization. Regardless of the approach, it is clear that management accounting has become an important component of the decision-making process in business of all sizes and that the continued evolution of this practice should results in....
Policy implementation is the process of bringing a policy to life with the goal of achieving the desired outcomes. In most cases, enacting a policy is not enough to bring about the desired changes. That is because enacting a policy is only the first step to carrying out the policy changes; policy implementation is how the policy is actually brought to life. The four main factors impacting policy implementation are public opinion, economic conditions, interest groups (stakeholders), and technological change.
Public opinion not only impacts whether a policy is implemented, but also how it is implemented. ....
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