...Memo To: Daffy Duck From: Allen Kerr Date: January 16, 2013 Purpose: To provide quality training for the new audit compliance system there will be necessary expenditures. This memo will present the final budget proposal these expenditures include but are not limited to: wages, materials, travel expenses, and training materials. Steps have been put in place to minimize the overall cost of the training but not at the cost of quality of the project. Budgetary Numbers: Humane Resources Cost: While the Looney Tune Bank and Trust Corporation has many internal resources that will be used to make this training successful but there are certain task that must be outsourced. The internal resource includes one resource from project management, two resources from the training department, two resources from human resources, and two subject matter specialist from the IT department. External resources include three resources from a printing company and two resources from a travel agency. The overall cost of the wages for the human resources to complete the Being Compliant training project total $9,700 dollars. Material Resources Cost: Material costs include the materials for training packages, note-taking materials, and registration material. The material and printing cost are estimated at $1000. Traveling Expenses: The Human Resource Department has identified 25 branch managers that will be required to attend the training. The travel expenses will include round-trip...
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...Budget Project CMGT 410 Project Planning & Implementation December 18, 2014 Carlos Perales, MSCIS Memo To: Corporate Office From: Luis Pinon CC: Anyone that you believe should be copied Date: [ 1/7/2015 ] Re: Subject Description of Project The project for the company offsite 2 day training session has given a preliminary go-ahead. The budget of the project will determine any important factors that will impact the training project. The company of AER has given the opportunity for all workers to get the training required. The budget of the 2-day training session project will recover any expenses that occur before the initiation, during processes, and until completion of the project. Resources The first step of the project is to develop a budget. The budget management process involves the project manager in developing all the cost, estimates, and the total amount of money resources necessary for the implementation of all the activities. All the tasks and events are defined and stated in the WBS and Schedule in the lower section of the memorandum. Budget Development Budget development should cover the capital, and the operating expenses to ensure the success of the project completion. The project manager needs to gather all the funding requirements and then send a formal request to the sponsor. The sponsor needs to look first in the feasibility study, business case, and project charter before making any final decision. For developing a budget project sheet,...
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...Memorandum To: Largecompany.com CC: Administrator, Office Managers/Assistants From: Brad Dotson, Director of Training and Development Date: 3/4/2015 Re: Compliance Training Project Budget The proposed project for the company offsite 2-day training session to be conducted in San Diego, California on May 4-5, has been given a preliminary go ahead. This memo will discuss the financial implications of the project in terms of cost estimates of all resources and related tasks over the entire duration of the project. ESTIMATED BUDGET Travel Expenses • Airfare – A total of 16 managers will be flown in to the event, and will be provided round-trip tickets on United Airlines. 2 San Francisco, CA ($154 x 2) = $ 308 4 Salt Lake City, UT ($280 x 4) = 1120 4 Denver, CO ($254 x 4) = 980 6 Sacramento, CA (183 x 6) = 1098 Total = $3506 --(https://www.united.com/web/en-US/default.aspx?root=1) • Mileage Allowance – 2 local managers will be driving to event and will be compensated $0.57/per mile (60miles) $0.57 x 60 = $ 34.20 $68.40 x 2 = Total = $ 68.40 -- (http://www.irs.gov/uac/Newsroom/New-Standard-Mileage-Rates-Now-Available;-Business-Rate-to-Rise-in-2015) Accommodations • Hotel Rooms – 2 Trainers and 16 attendees traveling from out-of-town will be staying on site; One(1) night at the Double Tree Hotel & Conference...
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...Project Budget Marie Harper CMGT/410 October 13, 2013 Joel Erickson Project Budget BUSINESS MEMO IT TRAINING OUTLINE INTRODUCTION: There should be a method which has to be used for training as well as a method should be created together with that method. For both of these ways to achieve success, training resources should not be wasted. To make sure that resources would not be undermined, a lot of problems must be resolved. The organization policies, infrastructural problems, as well as social problems within the company may all require to be noted prior to a properly oiled training session can happen. It is, nevertheless, worth noting that irrespective of the scheme selected for training, the route must be clear for the users. The training which the users will need will depend on their background, the objective of the training, attributes of the system, any kinds of latest user interfaces, and so on. This task is an explanation for a demonstration provided by a combination of HR as well as IT experts, streamlining organization policy and procedures, for a company-wide conformity system. The training will be put into practice by the head office, along with training to be implemented in a central location. This will be favorable to all of the other satellite offices, making them effortlessly accessed by the administrators who will be attending the training classes. Training will be located on the Central Office site, to reduce training expenses. The training...
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...The Ford Family Budget My family, the Ford family, lives in a small town outside of Birmingham. They live in a newly purchased house in Chelsea, Alabama. The Ford’s have three children (13, 15, 17), the youngest of which is special needs and requires adult supervision constantly. While the Ford family loves eachother, they have a lot of financial struggles. They have one car, which the mom drives to get to her part time job at a catalog warehouse. Occassionally the father and mother will car pool to and from work since they both work in the city, but occassionally, when schedules don’t match up, the father has to take public transportation to his full time job at a refridgerator plant. The use of public transportation sometimes makes him late for work and he is scared he may face loosing his job, therefore he is looking to purchase a used car for his commute. While a second car would greatly benefit this family, they really can’t afford it with the two eldest children asking to join the football and cheerleading teams. He wants to provide the best experiences for his children but is lost as to how to do that. My family’s yearly income is $40,000.00. That isn’t much considering the following is the ideal cost of living for their area: Since they are in a garden/starter home they are able to drive their house payment down to $800 a month (they have excellent credit). They follow their expected budget with food and usually spend around $930 a month on food, which includes...
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...You are the nursing administrator for a medical group that expects a severe outbreak of the flu this winter. You hire additional staff to treat the patients and administer shots. Your special project budget was for 1,000 hours of part-time nurses’ services at $40 per hour, for a total cost of $40,000. It was expected that these nurses would administer 400 flu shots and treat 1,600 flu patients. The medical group typically charges $50 for a flu shot and $80 for treating a flu patient. Actually, the group had 1,200 patients who received the flu shot and 1,400 who had the flu and received treatment. On average, it was able to collect $55 per flu shot and $70 per flu patient. Compute the volume, mix, and price revenue variances. How did things turn out for the group considering just revenues? How did they turn out from a profit perspective? Total Revenue for Actual Scenario: (Number of flu shots x charge per flu shot) + (Number of flu patients x charge per patient) =(1200 x 55) + (1400 x 70) = 66,000 + 98,000 = 164,000 Projected Revenue: (Estimated number of flu shots that will be given x estimated charge per flu shot) + (estimated number of flu patients x estimated charge per patient) =(400 x 50) + (1600 x 80) = 20,000 + 128,000 = 148,000 Cost due to additional staff: (number of hours x pay per hour) = (1000 x 40) = $40,000 (also given by problem) Total Profit: (Actual Revenue - Cost) = $164,000 - $40,000 = $124,000 From the perspective of revenue, the...
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...INTRODUCTION: The budget preparation phase starts with the Development Budget Coordination Committee (DBCC). It is headed by the DBM Secretary and its members are the Secretary of Finance, the NEDA Director-General, and the Bangko Sentral Governor, with the Office of the President for general oversight. The NEDA provides the over-all macro-economic assumptions with which budgetary levels are to be determined. They involve the projected Gross National Product (GNP) real growth rates, inflation rates, 91-day treasury bill rates, the London Interbank Offered Rates (LIBOR) rates, foreign exchange rates, population growth, and other economic parameters. The Department of Finance (DOF), the Bureau of the Treasury, the Bureau of Internal Revenue and the Bureau of Customs help the DBCC in determining the sources of financing. They project the revenues that will be generated for the budget year as well as the borrowings that may have to be tapped. The DBCC determines the overall economic targets, expenditure levels, the revenue projection, deficit levels and the financing plan. It submits them to the President and the Cabinet for approval. Once these are approved, the DBM issues the Budget Call. This requires agencies to prepare their budgets in accordance with the said guidelines, macro-economic assumptions, and ceilings. The DBM spells out guidelines, procedures, and timetables. Agencies undertake their own internal consultations. They rank programs, projects and activities using...
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...one indicates the project is under budget. A negative cost variance or a CPI less than one indicates the project is over budget. A CV of zero or a CPI of one indicates the project is on target. | A positive schedule variance or a SPI greater than one indicates the project is ahead of schedule. A negative schedule variance or a SPI less than one indicates the project is behind schedule. An SV of zero or a SPI of one indicates the project is on target. | For TCPI Less than 1 is good. The farther below 1, the easier it will likely be to achieve the desired result. At one: The same results are needed to achieve results. Greater than one is not good. The farther above one, the more difficult it will be to achieve the desired result. Analysis Our project is doing quite well. It is estimated to come in at a cost of $833,333, which likely means spending another $213,333 to finish the project. This is $141,667 less than originally planned. This means it should be quite easy to meet senior-management goals as denoted in the original project plan. 4. Analysis * Schedule: The positive schedule variance and SPI above 1.0 indicates the project is ahead of schedule; however, the critical path for this project is A - C - E, and CP tasks are significantly behind schedule (SPI for A = 0.80). Be careful when analyzing project totals for SPI, as the critical path is not taken directly into consideration. * Budget: The project is currently significantly...
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...FINANCIAL TECHNIQUES USED IN THIS STUDY Budget and budgeting techniques In order to properly plan and set goals, several different budgets must be created. This article discusses some of the more common budgets used by businesses. SALES BUDGET: The sales budget is an estimate of future sales. It is used to create company sales goals. PRODUCTION BUDGET: Product oriented companies create a production budget. It is an estimate of the number of units that must be manufactured in order to meet the sales goals. The production budget also estimates the various costs involved with manufacturing those units, such as labour, material, and other expenses. CASH FLOW BUDGET: The cash flow budget is a prediction of future cash receipts and expenditures for a particular period. It usually covers a period in the short-term future. The cash flow budget helps the business determine when income will be sufficient to cover expenses and when the company will need to seek outside financing. MARKETING BUDGET: The marketing budget is an estimate of the funds needed for promotion, advertising, and public relations in order to market the product or service. PROJECT BUDGET: The project budget is a prediction of the costs associated with a particular company project. These costs include labour, materials, and other related expenses. The project budget is often broken down into specific tasks, with task budgets assigned to each. CAPITAL BUDGET: The capital budget is a prediction of company needs in regard...
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... According to Merriam-Webster dictionary, a budget can be defined as “the amount of money that is available for, required for, or assigned to a particular purpose”. Many people think of budgeting as something to do when they're short on cash. College students might turn to a budget to figure out how to make due with their high expenses and limited incomes. Two purposes for budgets are planning and control. Planning is a way of constructing the budget to meet the pre determined goal and, it also controls the feedback system to ensure proper execution of the plan. The advantages of budgeting are communication of management plan in the organization, provides guidelines for managers to think and plan for future, allocate resources, uncover bottle necks, co-ordinate activities for entire organization and provide benchmark for evaluation of future performance. Typically budgets can be prepared annually, and they can represent a company’s plan in specific, quantitative terms. A budget can help companies plan for the future. So companies can also take advantage of a budget by shaping the well-organized line for making money and increasing assets. “A budget may span any period of time. It may be short-term (one year or less, which is usually the case), intermediate (two to three years), or long-term (three years or more). Short-term budgets provide greater detail and specifics. Intermediate budgets examine the projects the company currently is undertaking and start the...
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...Health Care Budget An operating budget is a strategic initiative for the organizations financial plans over the course of the coming year. The operating budget works directly with the Statement of Activities (SOA) for a fiscal year to accomplish the organization financial goals. To produce an effective operating budget the organization needs to have knowledge of what financial management practices work best for the financial goals they are planning to use. Proper understanding of these concepts is vital for the operating budget to become successful for the upcoming year. Effective Financial Management Practices Effective financial management practices include several types of rules that an organization should follow to create a successful operating budget. Budgeting should focus on income first targeting the reliable income in the budget. Never filling those gaps with income projections to cover expenses can cause a deficit if your organization can not produce the income target within the year. Expenses should be lower than the dependable income total. Each department should be in agreement with this financial management practice. This leaves the additional programs and projects to be set in motion if the revenue allows additional funds (Hamilton, 2010). A financial management practices uses the beginning with the prior fiscal years total, and building the new upcoming year budget on those amounts. This takes calculating percentage of increases and decrease to determine...
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...to every business and need people with good communication skills. For this paper the two forms of communication that I have chosen are: Interoperational and Personal. In order to tackle business communication problems it’s very essential to follow a well drafted communication process. The communication process steps involved for my two forms of communication are: Sensing a communication need: The need for communication here is for Conveying the Yearly Sales Budget, Sales Target and Project Plans and Training team members. The purpose of these communications is to discuss the annual budget and set targets for the sales and information technology and to train my team members with this new reporting tool and share my knowledge with them. Defining the situation: The presenter of the interoperational communication is our director and the main goal is to help the project managers in laying down the budgets for each project to fall within the targeted budget and thus help them to understand the number of projects to be initiated or undertaken the whole year. The best choice of communication under this situation is using the PowerPoint slides with visuals supporting the speech and contents in the slides. The second form of communication which is a personal communication will be presented by me and it is an informal communication to help the audience to create reports required by the business and analyze the data. The best communication under this situation is a computer to...
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...Mouhamed Tall 6110 47th Ave South Seattle WA 98118 EDUCATION Bachelor of Arts in Economics – Minor: Public Policy Georgia State University – Andrew Young School of Policy Studies May 2013 Associate of Applied Science in Banking and Finance Georgia Piedmont Technical College May 2009 EXPERIENCE Amazon, BFI 5Seattle, Washington 2014- Present Fulfillment Associate • Sort packages manually to assigned areas • Use a RF unit to palletize product for delivery • Unload trailers for packages to be sort it out • Maintain accuracy, quality, and meet or exceed productivity quotas while performing these tasks • Operate manual and electric material handling equipment such as hand jacks • Perform other duties as assigned Katmai Government Services, Anchorage, Alaska 2011-2013 Role player/foreign language specialist • Trained soldiers through military mission and situational exercises that enable soldiers’ battalions to interact under various conditions • Replicated various roles and groups of people representing possible situations military battalions may face during deployment ...
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...Analysis of Case Study Christopher Rubio Week 4 HCS/483 When ever an organization is thinking of implementing a New It Initiative they must ensure that they are well organized and fully understand the length and time a project may take. According to Cook “ Project failure occurs when a project is significantly over budget, takes must longer than estimated timeline, or has to be terminated because of so many problems have occurred that proceeding is no longer judged to be viable.” With Memorial Health System failed implementation of a CPOE system they had many problems including an over budgeted project, Lack of belief in project, Insufficient leadership support, Failure to respect uncertainty, Failure to anticipate short-term disruptions, and initiative undernourishment. In this paper we will discuss all six of these problems along with give possible solutions to each of them. Failure to respect uncertainty: When the system was finally implemented it was had a lot of bugs in the system. They implemented the system at all of facilities. Because of this as well as a few other issues such as lack of training the system was taken offline and they continued with the old system. The solution to this problem would have been to implement the system in one location instead of the entire hospital. This place can be used as the test facility in which you can do two things. One you can work all the bugs out and the other would be to use it as a training facility where you can send...
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...A SUMMER TRAINING REPORT ON “STUDY OF CORPORATE BUDGET AND PROJECT APPRAISAL” SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE OF POST GRADUATE DIPLOMA IN MANAGEMENT (FINANCE) By Abhay Goyal 13DM006 Under the guidance of Dr. Girish Jain Mr. Anil Kumar Professor DGM (F&A) Accounting and Finance ONGC BIMTECH New Delhi 2013-15 TABLE OF CONTENTS CONTENTS CERTIFICATE FROM MENTOR v CERTIFICATRE FROM HR vi SUMMER PROJECT CERTIFICATE vii ACKNOWLEDGEMENT viii LETTER OF TRANSMITTAL ix LETTER OF AUTHORIZATION x EXECUTIVE SUMMARY 1 1. INTRODUCTION TO THE COMPANY 3 1.1 Background 3 1.2 Overview of the Company 3 1.3 ONGC Group of Companies 4 1.4 Basic Information 5 1.5 Organization Structure (CRC) 5 1.6 Vision and Mission Statement 6 1.6.1 World Class 6 1.6.2 Integrated In Energy Business 6 1.6.3 Dominant Indian Leadership 6 1.7 Strategic Vision 6 1.8 Salient Features about ONGC 6 1.8.1 ONGC in Global Rankings 6 1.8.2 ONGC- Achievements in ensuring Energy Security of India 7 1.9 Corporate Social Responsibility 7 1.10 Future Outlook 8 1.11 ONGC Offices All Over India 8 1.12 Organization Structure of the Finance Function of ONGC 9 2. FINANCIAL STATEMENT ANALYSIS 11 2.1 Financial Performance of ONGC (2012-13) 11 2.1.1 Sales of ONGC 11 2.1.2 Net Profit of ONGC from the Year 2007-13 11 2.1.3 Debt-To-Equity Ratio 12 2.1.4 Dividend of ONGC from 2007-13 12 2.1.5 Earning Per...
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