[pic] INTRODUCTION Materials are an important determinant of the total cost of production‚ as it constitutes around 50% to 60% of total cost. Materials as our input in production system are receiving attention of the industrialists from 1900 onwards. Since the beginning of 20th century‚ materials have been occupying a place of importance among the M’s of Materials‚ Money‚ Man‚ Machine and this will continue to be so in the years to come. Materials management is one of the areas covered
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concerned with the transaction of financial resources into human purpose. Budget is refer to the spring financial statement‚ which focus on tax. There are a few principles of good budgeting that is comprehensiveness‚predictability‚ transparency and periodicity. Budgeting is effective in facility process when it forces awareness of overall fiscal constraints‚ enables the priontization of spending in the linewith policy objective. The budget objective is to aggregate fiscal disipline‚ allocative efficiency
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Direct selling is the marketing and selling of products directly to consumers away from a fixed retail location. Peddling is the oldest form of direct selling. Modern direct selling includes sales made through the party plan‚ one-on-one demonstrations‚ and other personal contact arrangements as well as internet sales. A textbook definition is: "The direct personal presentation‚ demonstration‚ and sale of products and services to consumers‚ usually in their homes or at their jobs." Advantages/Benefits
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marketing budget? A marketing budget typically covers costs for advertising‚ promotion and public relations. Each amount varies based on the size of the business‚ its annual sales and how much the competition is advertising. Depending on the industry‚ marketing budgets can range from as low as 1% of sales to over 30%. New companies may spend as much as 50% of sales for introductory marketing programs in the first year. Smaller business may just try to match the spending of their direct competitors
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( http://www.accountingformanagement.com/production_budget.htm ) Production Budget: Learning Objective of the article: 1. Define and explain production budget. 2. Prepare a production budget. Definition and Explanation of Production Budget: The production budget is prepared after the sales budget. The production budget lists the number of units that must be produced during each budget period to meet sales needs and to provide for the desired ending inventory. Production needs can be
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critically analyze the budget that you prepared for the exercise For this exercise‚ estimates‚ budget‚ conditions‚ conditions forecast were the things to be kept in mind. From the conditions that were specified: 1) Weather-the cost can go high if the weather conditions get worse 2) Labor market-the cost can go high or low depending on the availability 3) Stakeholders cooperation-depending on them‚ the cost can also go high or we can even save money 4) Reliability of materials-Depending whether it
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Three: Budget Airlines CONTENTS • Who and what are budget airlines • Marketing environment - Micro environment - Macro environment • Sources of information • Segmentation • Targeting • Positioning • Marketing mix – price • Questions Budget Airline Definition Budget airlines don’t have free meals and entertainment • Budget airlines don’t issue tickets • Budget airlines have only one class – budget class
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------------------------------------------------- Direct marketing communication Direct Marketing What is Direct Marketing? Direct marketing is a channel free approach to distribution and/or marketing communications. So a company may have a strategy of dealing with its customers ’directly‚’ for example banks (such as CityBank) or computer manufacturers (such as Dell). There are no channel intermediaries i.e. distributors‚ retailers or wholesalers. Therefore - ’direct’ in the sense that the deal is done directly
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flexible budget? A flexible budget projects budget data for various levels of activity. The flexible budget is a series of static budgets at different levels of activity. The flexible budget recognizes that the budgetary process is more useful if it is adaptable to changed operation conditions. Flexible budgets can be prepared for each of the types of budgets include in the master budget‚ so depending on your particular business you will have different budgets in your flexible budget. • What
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FOR SHORT-TERM MANAGEMENT PLANNING Lecture Illustration CASH FLOWS Oz designs is in the process of preparing a cash budget for the three months of April‚ May and June 20X9. All sales are on credit. The company collects 50% of its sales in the month the sales are made‚ 40% in the month following the sale and 10% in the second month following the sale. 75% of all purchases are paid for in the month they are purchased‚ with the remaining 25% paid for in the following month. The selling expenses
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