THE MANAGING BUDGETS POCKETBOOK phần 3 pdf

... PLANNING INTER-RELATIONSHIPS The following sections of the book examine some of the key elements of financial planning: ● Revenue budgets ● Capital budgets ● Product costing Whilst these are often viewed ... case Tell them £11,000” 5 “If my budget gets smaller I’ll lose status in the organisation” 6 “That’s finished the budget then. Let’s pass it to the accountant and it’s he...

Ngày tải lên: 06/08/2014, 10:20

... plan for the long-term (the Strategic Plan) as well as the short-term (the Business Plan) ● The Strategic Plan sets the ‘vision’ of where the business wants to be in 3- 5 years’ time ● The Business ... planned expenditure on the materials, labour and running costs of the business Compiling Capital Budgets and Revenue Budgets is dealt with in detail in later sections...

Ngày tải lên: 06/08/2014, 10:20

... encourages them to ‘buy into’ the plan - if they are to be responsible for the outcome they must have a role in determining the resources available to them ● Commitment to the ownership of the figures ... is the one who makes best use of the budget available. DON’T measure people by the size of their budgets! DO judge them by how effectively and efficiently they use the...

Ngày tải lên: 06/08/2014, 10:20

... but are you pulling in the same direction as the rest of the team? “Just get the sales” which sales? Are they profitable? Will the business be worth winning? “What’s the point? Things never ... Example 1 03 NB INTRODUCTION FAILURE TO PLAN Has this happened in your business? Why did it happen? 3 INTRODUCTION ARE YOU MANAGING? Are you managing your business or is your busin...

Ngày tải lên: 06/08/2014, 10:20

... discussions? 53 44 REVENUE BUDGETS SETTING BUDGETS INPUT-OUTPUT APPROACH Stage 2: How am I going to do it? ● Choose the PROCESS, ie: the way you will achieve your OUTPUT ● Challenge the existing ... Quantity? REVENUE BUDGETS SETTING BUDGETS BUDGET REVISIONS ● This structured approach should prevent the demoralising effect of indiscriminate across -the- board budget cuts ●...

Ngày tải lên: 06/08/2014, 10:20

... ahead to assess the expected revenue expenditure which will be incurred. Budgets provide the management tool and the basis for assessing future costs. 64 CAPITAL BUDGETS LINK TO OTHER BUDGETS LINK ... return? Is the return worth the risk? Management Are the management resources/skills available to ensure the satisfactory implications: completion of the project? 60 CAPI...

Ngày tải lên: 06/08/2014, 10:20

... for this information? The Costing System 69 PRODUCT COSTING THE PROBLEM THE SOLUTION “Can’t I leave all that to the accountant?” No! WORRYING FACT: There is no such thing as the product cost! Why ... UNDERSTAND THE SYSTEM What is a costing system? Businesses use resources to make products. Assessing the resources is easy. You pay for them via invoices and the payroll. But whic...

Ngày tải lên: 06/08/2014, 10:20

... best? Probably not the accountant! But who wrote the costing system? ● How often do you change the resources, processes or products? How often does the costing system change? ● The management accountant ... COSTING UNDERSTAND THE SYSTEM PRODUCTION OVERHEAD What are the production overheads? - the running costs of the manufacturing department including wages, salaries and ex...

Ngày tải lên: 06/08/2014, 10:20

... 75 Assembly 125 205 Product Cost 290 Please send me: The Managing Budgets Pocketbook The Pocketbook The Pocketbook The Pocketbook The Pocketbook Your details Name Position Company Address Telephone ... ABSORPTION The revised product cost would be: Spoilt for choice! 36 5? 33 5? £295? £290? Which would you use for your tender? Don’t forget there is no such thing as...

Ngày tải lên: 06/08/2014, 10:20

... end. 26 PLANNING THEORY PLANNING STYLES BOTTOM UP This type of planning starts with the lowest unit that plans and then aggregates the plans together to yield, ultimately, the final plan for the whole ... firms unless they move smoothly to other, more disciplined, methods of planning. 29 PLANNING THEORY ELEMENTS OF A PLAN There is no magic formula for the contents of a plan and, whi...

Ngày tải lên: 09/08/2014, 19:21