communicate managements plans. Planning the Budget First, managers use budgets to help operate a company efficiently because they coordinate work operations. According to Noreen (2010) “Budgets are used for two distinct purposes-planning and control (Noreen, 2010). A company set goals with budget in mind and then the budgets are used to achieve these goals. The first stage of the budget is to plan for what is going to happen for the year coming up. What one will see with many companies is,
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Techniques - Financial and Investment analysis Contents 1. Be able to apply cost concepts to the decision-making process 2 2. Be able to apply forecasting techniques to obtain information for decision making 4 3. Be able to participate in the budgetary process of an organization 5 4. Be able to recommend cost reduction and management processes for an organization 7 5. Be able to use financial appraisal techniques to make strategic investment decisions for an organization 8 6. Be able to interpret
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[pic] There were two departments under the federal government that had either implemented an electronic accounting system or had updated their existing accounting system. The two departments were the Accounting department and Information Technology (IT). In the Accounting Department, they implemented a new electronic accounting system because the Federal Financial system was no longer being supported by it developer. Therefore, if problems were encountered there wouldn’t be anyone to go
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The task requires you to demonstrate your understanding of finance and the value of recording financial information within the context of your organisation. You are then asked to explain the process of budget setting in the organisation and how budgetary techniques are used to contribute to controlling cost in your own area of operation.If you are not currently working within an organisation, then you may complete this task in relation to an organisation with which you are familiar. This could include
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Describe the concepts of strategic vision (intent), mission, and goals Mission - An organization’s basic purpose and scope of operations Strategic vision – The long-term direction and strategic intent of a company Goals - A target or end that management desires to reach. Goals should be SMART - specific, measurable, attainable, relevant, time-bound Explain what a Core Competency means for an organization Core Competence – A unique skill and/or knowledge an organization possesses that gives
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The founder of public administration considered by many is Woodrow Wilson. His essays were the cornerstone of public administration. He typified this link between academic and utilitarian studies through his personal overlap of professor and politician. Political science, he argued, should concentrate on how governments are administered. He was committed to developing the practice and theory of administration. In establishing the public administration disciplines, he believed that administration
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managed to keep a check on the food inflation through their healthy competitive practices. Create transparency in the system: the intermediaries operating as per mandi norms do not have transparency in their pricing. According to some of the reports, an average Indian farmer realises only one-third of the price, which the final consumer pays. Intermediaries and mandi system will be evicted, hence directly benefiting the farmers and producers: the prices of commodities will automatically
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Utah Symphony and Utah Opera- A merger proposal Course instructor: Course: Name: Utah Symphony and Utah Opera- A merger proposal A Before the merger, Utah Symphony managed numerous budgetary issues. A significant budgetary shortcoming with the symphony is its powerlessness to arrange the compensations of the workers. The greater part of the symphony's representatives are under contact that abandons them with the money related load of needing to pay rates paying little heed to the ticket deals
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Utah Symphony and Utah Opera- A merger proposal Course instructor: Course: Name: Utah Symphony and Utah Opera- A merger proposal A Before the merger, Utah Symphony managed numerous budgetary issues. A significant budgetary shortcoming with the symphony is its powerlessness to arrange the compensations of the workers. The greater part of the symphony's representatives are under contact that abandons them with the money related load of needing to pay rates paying little heed to the ticket deals
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Lucky Prawn Farm CASE CONTEXT The aquaculture industry in the Philippines is a major livelihood and employment opportunity, banking on the country’s rich supply of consumable marine life from its aquatic resources. Giant Fresh Prawn farming makes up a portion of the aquaculture industry. The Giant Freshwater Prawn locally known as ulang in the Philippines, is valued for its nutrition content and considered a promising aquaculture species for their high survival rate. Freshwater prawn can now give
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