Government budgets

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,…

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…

at Budgeting. #2: We will look at the major types of budget and particularly focus on operating budget. Especially, we will take a close look at operating budget in three parts: forecasting revenue, expenses, and profits. #3: This is my note – Budgeting is a kind of planning to determine a financial plan for a certain period time. There are three types of budget: operation(operating), capital, and cash budget. #4: Particularly, operating budget is a projected financial plan for a specific…

1. Define a flexible budget. Provide an example of how a flexible budget is used in the real world. A flexible budget consists of adjusting expenditures according to the evolution of real incomes. So we get a budget with real results. The flexible budget is restructured according to activity levels, which is why it is a good performance evaluation tool and useful for any planning. Just like its good odds the flexible budget has its disadvantages as well. It may be a good tool but…

Improvised explosive device (IED) attacks in Iraq produced up to 80% of U.S. casualties. Mine resistant and ambush protected vehicles (MRAPs), fielded to route clearance units prior to the war, were designed to protect occupants from IEDs. However, a protracted conflict between the requirements based Defense Acquisition System and the politically charged “moral imperative” to reduce causalities, delayed further MRAP fielding for nearly 3-years. This delay resulted in 1,600 preventable U.S.…

Budgeting is the process of creating a plan of how to spend the money. A budget is an estimate of revenue, cost, and resources over given stipulated period of time (Lee, 2012). In other terms, a budget is a tool for deciding on which activities to be undertaken in future. The major common types of the budget include the sale budget, financial budget, operation budget, and master budget (Kelly, 2015). For the case of Barney and Co, the decrease in sales can be salvaged through decreasing the…

The budget is a type of list that clearly defines a business or a person profit and loss. It is useful for managing expenditure and saving money an individual or a business. Many people are using a budget for short-term goals, like a vacation or a business forecast, while others can write budgets for spending plans and long-term savings. The budget has the following roles: - Financial planning in terms of activities. Each activity requires resources and it aims to identify all needs in terms…

The two challenges that may arise during the implementation of an action plan would be political dimensions and financial planning in homelessness. Stringer (2007) state action plans are going to experience external and internal strengths, weakness, threats, and opportunities. For examples, homeless is the focus for my paper, but it focus on different groups such as families with children that have needs that are not easily met by the same systems that may support individuals, veterans, and…

in the organization make plans and perform according to the desired budget and deviate from it as less as possible. In this paper the budget analysis is presented and the variance will be discussed. The outcome of increasing the marketing expenses in T & P Fashion, it has be decided that the management must pay attention to the variances and work towards its improvement. The flexible budget is a type of budget where the budget adjusts itself on the basis of the volume…

Budgeting assignment Based on the graphs and reports from my Clearcheckbook I would be able to say that my spending habits are modest compared. Very rarely did my expenses exceed those of the rest of the class, though I did see some room for improvement in the area of miscellaneous during the month of February. During that month I spent a total of $583 which was a little too steep seeing as though my classmates on spent an average of $222. Most of that money was spent toward activities on the…