Free Essays on Budget to Get Inspired & Learn by Example

Introduction

Balanced budget is a typical story in the science of economics. There is a general belief that the balanced budget is better than the unbalanced budget situation. To understand the background of the belief of a balanced budget, one needs to know how the budget system works.
Budget is a sheet indicating incomes and expenditures of a government. Government incomes are mainly taxes collected from people and companies. Tax laws are arranged by parliamentary of a country. Government is responsible for determining areas where taxes will be spent. Government that receives most of the votes in elections and depending Continue reading...

Management Accounting Case Studies

Management Accounting Case Studies
1. Case 9-43

Executive summary

Jack Riley, as a budget controller in the division of social services for the state, practices the participative budgetary approach within the division. Jack Riley’s budgetary policy prescribes for department managers to prepare preliminary department budgets in compliance with set spending constraints that are further reviewed and, as a general rule, reduced by the division’s senior management. Afterwards, the department managers are responsible for fulfilling the reviewed budgets and are to account for any excessive expenditure incurred by their departments.
After analyzing Jack Riley’s budgetary approach, the following deficiencies Continue reading...

Abstract

Capital budgeting is the basis for planning and forecasting activities of any organization. Capital budgeting is the process of selecting and implementing nai-more efficient capital projects from the perspective of maximizing the rate of return and minimize the cost of their funding sources. Thus understand the need and importance of capital budgeting, both for business and for the economy as a whole. Planning - this attribute is not a single economic entity, not the requirements of today's business environment, it is a natural strategic and tactical business development.
The activities of businesses are so diverse that the goals and Continue reading...

The City and State

Poor budgeting has a number of implications of conventional performance. Arguably, several ideologies imply that poor budgeting has a critical effect on budgeting in organizations. Evidently, one of the key problematic areas in most contemporary business is the adoption of traditional budgets. The annual budget has a critical impact on performance as compared to strategic performance-based budgeting systems. As such, it is evident that most of the organizations that indicate poor budget implementation, commonly known as budgeting slack can largely impact organizations in a negative manner. The analysis of the impacts of poor budgeting in organizations has prompted organizations Continue reading...

There are five main steps to budget building process:

Building a budget team: This is important so that representatives from all departments can be a part of the budget team and incorporate their ideas and suggestions in budget building (FMA, 2014).
Budget calendar: Calender is designed generally six months before the end of the fiscal year, and separate calendars are established for monitoring of the budget and internal management and reporting tasks. The Chief Financial Officer drafts the budget calendar and meeting dates (FMA, 2014).
Preparation for the budgeting process: This involves setting of goals, building up financial data and design of budget team. In this the design Continue reading...

General Motors is a well-established automobile company that designs, markets, distributes vehicles and automobile parts, and sells financial services. It is a multinational corporation with many divisions worldwide enhancing its goal of reaching a wider range of clientele. There are definitive reasons why General Motors should prepare a budget at the beginning of every accounting period. The objective of all enterprises is to maximizeprofits, and this is achievable by controlling expenses. A budget monitors progress towards the set targets, and costs do not exceed the allocations. The company should also prepare a budget to guide the decision-making revolving around Continue reading...

Question 1

JCDecaux is the world leader in the business of outdoor advertising. It was established as a private company in France in 1964 by J.C. Decaux to exploit a simple business concept: to provide street furniture for cities such as bus shelters, billboards or information panels in exchange for the right to place commercial advertising on its structures (JCDecaux, 2012 annual report). The concept proved to be successful and today JCDecaux is a public company operating in over 60 countries across the globe. From financial perspective, its business model can be described as follows: upon winning a long term contract ( Continue reading...

Review of State Budget

Budget reviews are a comprehensive examination of state funds and their appropriations in order to fulfil the state’s obligations to its citizens. It assesses not only the budget estimations, but also the reviews the earmarked funds and expenditure. The state of Alabama has a two separate earmarked revenue model, one being the General Fund Budget and the other is a fund for education. The paper is a review of the state of Alabama general fund budget and the Education Trust Fund budget for the financial years 2014, 2015 and 2016.
The Executive Budget Office (EBO), a segment of Continue reading...

Government Financial Administration: Stages of Budgeting, and Public Policy

There are generally 4 stages in the budgeting process: preparation, approval, execution and auditing. Each of these parts is necessary to the entire process. Most importantly, the relationship between public policy is reflected in each of these stages. This paper provides an overview of these four stages, as well as how the said relationship between budget and public policy is manifested in each of the stages.

Planning

The process of planning a budget starts several months before the end of the current fiscal year. In the next fiscal year, the focus turns to the following fiscal year’s budget. Planning Continue reading...

A number of times many of the government organizations fail to meet their budgeting financing needs based on a number of reasons. Many attach these to limited funding that affects their ability to meet the needs of their people as a result affecting the service delivery aspect of the counties. In response to this, the heads have advised for budget cuts to reduce on the level of financing accessible and hence increasing the funds that the government has at its disposal to spend on the most relevant projects. The counties are forced to exercise budget cuts as a way Continue reading...