• Toll Free: +61 879 057 034
  • Download App:

Get Your Assignments at the Best Prices NOW!!

Managing Finance with Budget

See What Our Writers Deliver Through Our Free Samples!

Need to Manage the Financial Budget in Organisation

2737 Downloads I Published: 06 Feb ,2019

Introduction

In order to manage the finance of to predict the need of finance in future a budget related to the finance is drafted, so that organization makes an idea about the needs of finance in future or can make proper strategies regarding that.

Question 1

Monitoring of budget after approving

How Can We Help You?

Getting Top Grades is No Longer a Dream for You.

Budget is the estimated numerical expression of inflows and outflows of the organization Kepi, 2017). For preparing the current budget company observe the past budgets and on the bases of it new budget is prepared as all the budgets are interlinked. By going through the pattern of budget current budget is prepared. As all the organizations has decided their time to monitor the budget as per their requirement.

Question 2

Report of budget provided by management team about the favorable or unfavorable variance.

After preparing the final budget, management team have to provide a report on that budget to the senior level officers, explaining all the estimation or result they have taken or derived from that budget (Larsen, 2017). As all the proper information regarding the financial condition should be there in the report. As what they have estimated in the budget or budget is giving the positive result or not. In budget we can calculate many variances related to the production, price, sales and overhead. As by calculating these variances we get to know about the favorable or unfavorable results. If variances are unfavorable than it will affect the company growth and if variances are giving favorable results than the company is in progress.

Question 3

Approaches for managing the budget

There are two approaches from which an organization can manage its budget by using various approaches like customer research approach or competitor research approach (Jimenez, 2017).As before drafting the budget a proper review will be taken by management team in order to collect all the information. AS team will the operating process production capacity, and analyzing the working efficiency of the employees in order to improve the current condition of the organization.

Question 4

Things to be included in the budget.

Main part of the budget is profit and loss account, balance sheet, cash flow statement. Profit and loss account is the account the books of organization in which all income and gains are credited and all losses and expenses are debited, in order to show the profit of loss of the organization for a period of time (Dang, Momtez, Zimmerman and Nhung, 2017). Balance sheet is the statement of assets and liabilities of a business at a particular point of time. Cash flow statement shows the changes in cash balances during a period of time. By all this three statement organization can predict their position in the market or can see that whether organization is developing or not.

Our Mission is to Offer an Extraordinary Assignment help at Competitive Prices.

We believe in serving our customers with the most reliable assignment help

Conclusion

As from the above answers it is clear that drafting a budget is important part of the organization. As budget shows the financial position, favorable, unfavorable variances of the organization.

References

  • Dang, N.B., Momtaz, S., Zimmerman, K. and Nhung, P.T.H., 2017. Effectiveness of formal institutions in managing marine fisheries for sustainable fisheries development: A case study of a coastal commune in Vietnam. Ocean & Coastal Management.137.pp.175-184.
  • Jimenez, B.S., 2017. When Ties Bind: Public Managers’ Networking Behavior and Municipal Fiscal Health After the Great Recession. Journal of Public Administration Research and Theory, p.muw069.
  • Kepi, J.H., 2017. The Role of EU Funds in Improving Albania’s PFM Reforms (2014-2020). Mediterranean Journal of Social Sciences.8(1).p.192.
  • Larsen, J.K. Et.al 2017. Project Management and Scheduling through National Project Management Phases in Government Construction Agencies. International Journal of Information Technology Project Management (IJITPM).8(1).pp.1-16.
Download Full Sample

Register With Us to Download

Enter your email id to download the sample you requested

  • img refresh
X
Instant Assignment Help Australia is one of the most trustworthy and reliable assignment writing service in the Australia. We provide all academic writing services at the most affordable price without compromising with the quality. Students from all around the world can seek help for their different academic papers, such as assignments writing, essays writing, dissertations writing, and many more. As a result, no one need to worry about their academic papers, no matter how much complex the topic is. They just need to contact us the earliest and get the best writing assistance within the shortest possible time.
Most Downloaded Samples
  • Impact Of Oil Price Shock On Stock Market

    Type: Case Study I

    Published: 11 Jun ,2019 I

    476 Downloads

    Introduction Researchers of the Federal Reserve Bank have looked at the various movements of the stock market influenced by the price of oil and discovered that there is a relationship between these two variables. Their study has proved that oil price can impact directly on the stock market that...ReadMore

    Tags:
    View or Download
  • Financial Accounting

    Type: Case Study I

    Published: 01 Mar ,2019 I

    1955 Downloads

    Q1. Introduction Financial Accounting can be defined as a branch of accounting which deals with the financial transactions of the company as well as records, summarizes and presents the financial statements. Flight centre travel group is the world's top-most and profitable travel retailer...ReadMore

    View or Download
  • Financial Statistics

    Type: Case Study I

    Published: 25 Feb ,2019 I

    2159 Downloads

    Introduction Analytics is the vast field which is used by the firms to solve their problems. In the report, statistical tools like mean and mode etc are applied. Along with this, mean values are identified at confidence level of 95% for age and transactions. At end of the report, regression model...ReadMore

    View or Download
  • Financial Resources in HSC

    Type: Assignment I

    Published: 08 Oct ,2018 I

    4250 Downloads

    Introduction to Financial Resources Finance consists of fund or money which is available to an organization for spending on its business projects. In each and every organization, finance plays a vital role in implementing business plans as well as strategies in an effective manner. In health care...ReadMore

    Tags:
    View or Download
  • Tariff and Import Duties- Samples

    Type: Assignment I

    Published: 09 Aug ,2018 I

    5287 Downloads

    Introduction Tariff is known as the tax or duty that need to be paid on a specific class of exports and imports. It is used for the purpose to restrict trade, because it enhance the price of imported products, in order to make them more costly for customers (Böhringer, Carbone and Rutherford,...ReadMore

    Tags:
    View or Download
Avail Professional Academic Writing Help

If the samples impressed you and you want to place an order with us just submit your queries with us and place your order.

Chat With Expert
Our Salient Features
  • Original Documents
  • Pocket Friendly Services
  • Money Back Guarantee
  • Rigorously Checked Documents
  • Delivery on Promised Date
  • Round the Clock Availability
View All Features
Our Experts
  • Hire HRM Assignment Writer

    Terry Oar My experience in Human Resource Management has all Hire Me

  • Jason Meredith-Chartered Accountants

    Jason Meredith I have ample experience in writing effective acade Hire Me

  • Ryan Gowan- Fashion and Textiles Writers

    Ryan Gowan The students normally face issues with the academi Hire Me

Call Us for Live Assistance

Now take our online assignment writing services in Australia.

Free Inquiry