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Question.1 - PSPPROC508A – Make procurement decisions, and PSPPROC507A – Plan for procurement outcomes What legislative and policy requirements do you need to consider when planning for procurement and making procurement decisions? When planning doing a major Procurement the Department Official needs to consider the following Legislative and Policies: • Public Governance, Performance and Accountability Act 2013 Section 15 and 21 • Privacy Act 1988 • Freedom of Information Act 1982 • Australian…

30 day Expense Tracking Essay Some of the challenges that I encountered during this assignment was trying to keep track of everything being bought. I usually don't buy things but my parents do so I also had a hard time to keep up with the stuff they bought. The other thing was being tempted to buy all these things. Eventually, you forget that you are supposed to keep track but then again you have the receipt. I didn't record my transactions all the time but I did put my receipt in a safe…

The first step in responsible financial planning is to develop and implement a budget. Simply put, following a budget allows for a better understanding of available funds, and where such funds are being spent. One of the biggest obstacles that faces the field of education today is funding and resources. While it is the goal of every school to provide a high-quality, and equitable education for all students, securing the resources, and allocating them appropriately presents a completely…

working on budgets, but Wayne County’s newest commissioner began officially working on one Tuesday and will likely pass it today, with his colleagues. Budget Director Carol Zemrock, county Administrator Patrick Herron and veteran Commissioner Ann Obrecht helped walk Amstutz and Commissioner Sue Smail through their first county budgets. However, Amstutz has had a lot of experience with budgets in his role as former chairman of the Finance Committee in the Ohio House of Representatives. The budget…

Budget Journal Reflection Over the past four days (Sep 24. Sunday — Sep 27. Wednesday), I made a budget journal in a spear notebook that helps me track my every single expenditure. In total, I spent $168.7 plus 4 Meal Plan swipes in TDR. Although it may seem like an overspending since it only recorded four days, I consider it as a reasonable amount of money. The major part of the total expenditure is consisted of three consumptions only occur occasionally: I spent $50 in Urban Outfitters for…

Dangerous Stratagems According to the Webster dictionary, stratagems is a plan or scheme, especially one used to outwit an opponent or achieve an end.” In the US, federal budget cycle go through many stages before e it is approved. It is executively prepared and then the legislative go over it then approve it, the n the budget is executed and audited. The purposes of budgeting is to give a clear future expenditure. It is to “control, management and planning.” In the management elaborates the…

Personal Finance by Siegel and Yacht, deals with financial budgets (2009). It sheds the light on three types of budgets: the comprehensive budget, the cash flow budget, and other specialized budgets. Each budget is useful in a specific context and they are all helpful to make better financial decisions. b. What are the components of a comprehensive budget and what is the purpose of each component? A comprehensive budget, which is a “budget covering all aspects of financial life […] includes a…

the needs and prioritize them based on urgency when drafting a budget (Yoder-Weiss, 20015). To have an understanding of budgetary goals and how to attain them is the key to having an effective and efficient budget that can handle any emergency that might occur during the fiscal year (Marquis & Huston,…

entities (p. 706). Even though historical information is used to forecast activities, a budget is a tool to plan future transactions (Boyd, 2013). As a result, firms must use various budgets, such as operating and financial budgets to outline an organization’s financial plan. The primary purpose of any company is to maximize profits at the lowest possible cost (VanDebeck, 2010). To accomplish this objective, budgets must meet several requirements, including realistic and achievable goals…

Aligning Issues and Insights In Lapovsky’s (2007) article “Critical Endowment Policy Issues”, an endowment is said to consist of “funds that come from three sources: contributions to the institution, growth from investment returns, and operating budget surpluses” (p. 101). The issue is that “assets differ by endowment size” (p. 102) and how the institution manages…