revenues, expenses, assets, liabilities and cashflows. Business budgeting is one of the most powerful financial tools available to any small-business owner. Put simply, maintaining a good short- and long-range financial plan enables you to control your cash flow instead of having it control you. Budgeting is a quantitative expression of a plan or action prepared in advance of the period to which it is related. Budget sets out the costs and revenues that are expected to be incurred or earned in future
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i. Taking their jobs for granted: failed to collect cash from known customers; lead to conflict of interest; fail to identify the ticket carefully; either wrong dates or colors. ii. Misuse the power and authority given: give free tickets to customers that he likes by signing on the tickets; didn’t conduct any supervision on his employees. iii. No proper segregation of duties: the one who record the sales also the one who collect the cash. 3. Identify the control improvements you would suggest
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my review of the company I have found activities that the company is participating in that violate standard regulated internal procedures. Giving all employees access to the petty cash is in violation of the establishment of responsibility internal control procedure. That leaves any employee the ability to use petty cash for any means. An accountant that is working for the company is currently the controller and the treasure. This activity violates the segregation of duties internal control procedure
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MULTINATIONAL FINANCIAL MANAGEMENT Groupe 5 Case study ASPEN TECHNOLOGY INC.: Currency Hedging Review 1) What are Aspen Technology’s main exchange rate exposures? How does Aspen Tech’s business strategy give rise to these exposures as well as to the firm’s financing need? The main exchange rates exposures are: British pounds, Deutsch Mark, Japanese Yen and Belgian Francs. Aspen faces foreign currency risks due to sales and expenses in those foreign currencies. Expenses include R&D
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Chapter 4 12. The times lines are: | 0 | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | PV | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | $4,500 | | | 0 | 1 | 2 | 3 | 4 | 5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
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1: A: Some employees will make decisions that will grant their own goals, not the company’s goals. When they are in a foreign country the manager might make decisions to benefit them and not the company as a whole. B: The main costs would be because the style and education are different with other countries compared to the home country. Also, the geographic distance between the countries would add costs. There will also be an absence of dedications. 2 A: Increase production efficiency
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Difference between Accounting & Finance Accounting is an art of recording, classifying and summarizing the transaction in a significant manner, whereas finance is the management of money and other valuables, which can easily be converted into cash. Functions of Finance Department of an Organization * Preparation of Budget Plans It is duty of finance department of company to make the budget before actual providing money to any department. It helps to fulfill each department with minimum
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Attempt Any Four Case Study Case 1: Zip Zap Zoom Car Company Zip Zap Zoom Company Ltd is into manufacturing cars in the small car (800 cc) segment. It was set up 15 years back and since its establishment it has seen a phenomenal growth in both its market and profitability. Its financial statements are shown in Exhibits 1 and 2 respectively. The company enjoys the confidence of its shareholders who have been rewarded with growing dividends year after year. Last year, the company had announced
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Scheduling anticipated cash payments B-21.05 Budgeting cash disbursements…. The equations: 10+40+50=100%; and Qtyx 20 x $5.80 per foot 20 per cost current month prior month two months Units Purchase unit $5.80/ft 10% paid 40% 50% Total January | 0 | 800 | 16,000 | $ 92,800 | $ 9,280
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the purchase of a solar system. The macroeconomic impact of her business decision needs to look at the effect of the solar industry on the gross domestic product of the United States, unemployment in the field, the fiscal policy impact, business cycles in the industry, and monetary policy and interest rates as well the international trade impacts of solar installations. Without an understanding of these areas, starting a new solar installation business could be a risk. Gross Domestic Product
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