Budget Definition: An estimate of costs‚ revenues‚ and resources over a specified period‚ reflecting a reading of future financial conditions and goals. One of the most important administrative tools‚ a budget serves also as a (1) plan of action for achieving quantified objectives‚ (2) standard for measuring performance‚ and (3) device for coping with foreseeable adverse situation. What is a budget and why is it important? Simply put‚ a budget is an itemized summary of likely income and expenses
Premium Cost Term Expense
meaning A budget (from old French bougette‚ purse) is a financial plan and a list of all planned expenses and revenues. It is a plan for saving‚ borrowing and spending.[1] A budget is an important concept in microeconomics‚ which uses a budget line to illustrate the trade-offs between two or more goods. In other terms‚ a budget is an organizational plan stated in monetary terms. In summary‚ the purpose of budgeting is to: 1. Provide a forecast of revenues and expenditures‚ that is‚ construct
Free Budget Budgets
Patton-Fuller Community Hospital Statement of Revenue and Expense 2009 to 2010 Operating Budget Complete the Operating Budget. Assume the 2009 projections were realized. Use the 2009 budget and the 2010 budget assumptions to calculate expenses and income for 2010. The revenues have been completed for you. 2009 (Proj) 2010 Budgeted % Change From 2009 Projection 2010 Budget 2010 Operating Budget Assumptions Revenue Based on these 2009 assumptions: a 3% overall deflation rate for
Premium Generally Accepted Accounting Principles Revenue Income statement
of adaptation to local norms. It is therefore suggested that a distinction between policy and practice be made in an organizational analysis of this kind. Third‚ despite culture-sensitivity of HRM practices‚ their impact on employees is similar to what has been previously documented by researchers in the UK and the USA. It is left to further studies to debate whether HRM outcomes can be termed as universal. • culture-sensitive • HRM • international management • national culture • Pakistan
Premium Human resource management
Budget: Financial budget for the total projected cost of ACME Home Improvements de Mexico‚ SA de CV is set at $35‚193‚654 for the 12 month period. The purchased of the land has already been factored in with the cost. 100‚000 sq. ft. Indoor store‚ a 10‚000 sq. Ft. garden outdoor space and two-story parking garage. The cost of construction and inventory figures are based on researched cost of similar stores in Mexico City and inventory goods of stores such as Home Depot and Lowes in the United States
Premium Local government Management Mexico
Budget The Budget is prepared by the ministry of Finance ant the union budget is presented by the Finance Minister. Our constitution has made it compulsory that every year The Budget is presented before the Parliament . The overall responsibility of preparing the budget lies with the Ministry of Finance. Various departments of this ministry work for several months to prepare the budget. Each department has a specific responsibility. The departments are: Department of Expenditure‚ Department
Premium Lok Sabha Economics Government
developing a comprehensive annual budget‚ spending heavily for specialty software‚ staff overtime and temporary help for data entry. Perhaps even more costly (but less quantifiable) are the countless hours that senior managers‚ accountants‚ financial analysts and department managers spend to prepare‚ revise and consolidate budgets. • We spend more time creating a budget than analyzing it. • The budget bears little or no relation to our underlying business plan. • After the budget is approved‚ no one looks
Free Budget Budgets
DATE : November 9‚ 2012 ATTENTION : MS. AURORA O. ALGODON President/CEO MAHARLIKA TRIBE MONARCH FOUNDATION‚ INC. Carmen‚ Davao City RE : Interim Memorandum of Agreement of Proposed Budget for Radio‚ Newspaper and TV FROM : MR. JOSEPH T. LAGUA Founding Chairman People’s Network and Media Communications ------------------------------------------------- (PNMC) I. COMPANY: Our entity‚ People’s Network and Media Communications (PNMC) is a media organization that
Premium Vice president
determine the merits of an investment project. The decision of whether to accept or deny an investment project as part of a company’s growth initiatives‚ involves determining the investment rate of return that such a project will generate. However‚ what rate of return is deemed acceptable or unacceptable is influenced by other factors that are specific to the company as well as the project. For example‚ a social or charitable project is often not approved based on rate of return‚ but more on the desire
Premium Investment Capital budgeting Corporate finance
Teladoc Inc: Financial Analysis Teladoc’s global expansion budget was developed based on project milestones and associated tasks (See Table 1.). The capital investment needed to expand Teladoc Inc. products to the global telehealth market is estimated at $196‚470 USD to include the project design phase‚ project development phase‚ product delivery phase‚ and project management phase of the expansion project. It is important to note that initial cost are estimates based on Teladoc utilizing personnel
Premium Cash flow Revenue Project management