THE MANAGING BUDGETS POCKETBOOK phần 5 docx

... resources can managers offer to meet these? 52 REVENUE BUDGETS MONITORING AND CONTROLLING BUDGETS REPORTING THE VARIANCES Remember the three Rs: ● Feedback from the system must be: - Rapid - Regular - ... effectively, either changing your actions to bring expenditure back in line with the budget or communicating the need to change the budget ● Don’t hide your problems! 50...

Ngày tải lên: 06/08/2014, 10:20

... and the decision to be made. 108 NB £ Direct material 50 Direct labour 35 Production overhead: Material 5 Machining (3 hours x £ 25) 75 Assembly 1 25 2 05 Product Cost 290 Please send me: The Managing ... 75 Assembly 1 25 2 05 Product Cost 290 Please send me: The Managing Budgets Pocketbook The Pocketbook The Pocketbook The Pocketbook The Pocketbook Yo...

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 ... the largest wheel has a vital role to play in the planning process. Don’t underestimate the significance of your contribution and the damage that can be inflicted if you get it wr...

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 ... MODEL The Business Financial Model explains how money works within the business. Financial planning involves managing the model forward not just letting it happen. See...

Ngày tải lên: 06/08/2014, 10:20

... year they cut all budgets by 8%, so I’ll top it up by 10% just in 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. ... PLANNING INTER-RELATIONSHIPS The following sections of the book examine some of the key elements of financial planning: ● Revenue budgets ● Capital budgets ● Product costing Whils...

Ngày tải lên: 06/08/2014, 10:20

... they must have a role in determining the resources available to them ● Commitment to the ownership of the figures in the budget plays an important part in making them achievable during the ... during the year 32 REVENUE BUDGETS GOLDEN RULES OF BUDGETING 5: The successful manager is not the one with the largest budget; he or she is the one who makes best use of the...

Ngày tải lên: 06/08/2014, 10:20

... explained more fully in The Balance Sheet Pocketbook. 61 55 CAPITAL BUDGETS CAPITAL BUDGETS STRATEGIC FIT ● Capital expenditure is a strategic investment - it determines the way the business will make ... 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 BUDG...

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

... 50 160 Indirect Materials Allocation 15 20 25 60 Power Apportionment 25 5 20 50 Rent Apportionment 60 35 65 160 TOTAL 50 0 200 300 1,000 PRODUCT COSTING CHALLENGE THE SYSTEM YOU ARE UNIQUE! The ... could there be other answers - see Appendix Two. 81 £ Direct material 50 Direct labour (7 hours x 5) 35 Production overhead: 7 hours x £40/hour 280 Product cost 3 65 PRODUCT COST...

Ngày tải lên: 06/08/2014, 10:20

... 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 Plan sets out the steps the business ... warned! The difference between profit and cash, and cashflow forecasting is explained in The Managing Cashflow Pocketbook. REVENUE BUDGETS AIM The Revenue Budget sets...

Ngày tải lên: 28/06/2014, 23:20