B.The budget should be designed from the bottom up, with input from employees at
all levels.
B.The budget should be approved by the company’s external auditors.
C.The budget should always be designed by top corporate management.
D.All the above statements are true regarding the budgeting process.
B.The budget should be designed from the bottom up, with input from employees at
all levels.
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With all of the attention on the BP oil spill, the European debt crisis and even financial regulatory reform, the fact that Congress hasn’t passed (and will likely not pass) a federal budget for fiscal year 2011 is flying under the radar.
To quote the words of the House Majority Leader, “The most basic responsibility of governing — enacting a budget.”
So what has Congress been so busy doing that they can’t find the time to pass a budget? Watch the 2:10-minute video and find out….
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Duration : 0:2:11
Which method do you think is the better one for making capital budgeting decisions – IRR or NPV? Why?
as you probably already know, the IRR is the interest rate at which the NPV is zero, and therefore the two are related.
Academically NPV is considered the better option because it is correct 100% of the time. IRR on the other hand, makes short term projects look more attractive and can even make projects with a negative NPV look attractive and vice versa.
"When the calculated IRR is higher than the true reinvestment rate for interim cash flows, the measure will overestimate — sometimes very significantly — the annual equivalent return from the project. The formula assumes that the company has additional projects, with equally attractive prospects, in which to invest the interim cash flows. In this case, the calculation implicitly takes credit for these additional projects. Calculations of net present value (NPV), by contrast, generally assume only that a company can earn its cost of capital on interim cash flows, leaving any future incremental project value with those future projects."
Basically read this article.
me to go shopping, since then i have been blocked mentally since then. then when ever i refuse to shop he says to me that i am making trouble. I do not know what to do. I am doing the household budgeting and i asked him what about me. i do not understand , i am confused. first he encourages me then he brings up the topic about money. how we need to watch it. i understand but do i need to have something too?
He doesn’t mind if you shop for things you need or want, but he wants you to spend wisely and not overspend on extravagant things that you do not need.
j0e
Demo video for the iXpenseit iPhone App.
iXpenseit, by FYI Mobileware, is an expense tracking and budgeting app that’s very easy to use.
When you launch iXpenseit, you see today’s transactions, and a battery-meter-style representation of your current budget (if you have the budgeting feature turned on). There are arrows to move back and forth between days, and the bottom toolbar, where it’s really easy to add a new purchase. Simply enter the amount, choose your currency if necessary (the app does conversion for you), and tap done.
On the next screen, you can choose a type, category, and subcategory from a series of customizable lists. You can specify the payment date, say whether you used a credit card or cash, and record the place of purchase for the item. The app saves the vendors you enter, and easily allows you to add new ones.
The notes section lets you enter information about the purchase or other important reminders, and the photo tools even lets you snap a picture of the receipt, either from within the app or by using your camera roll.
Once you’ve saved your entry, you can look at your monthly expenses by category, with all of the notes and images embedded.
The app’s search feature gives you quick access to any transaction you’ve entered , and an individual export feature lets you send a specific record to anyone via email.
The reports button keeps you well-informed of your spending, and generates charts of any or all of your expenses. You can email these reports for reimbursement, or transfer them to your computer via Wi-Fi for record-keeping.
iXpenseit’s settings allow you password protect your expenses, control currency conversion, and choose the default categories for new expenses. You can also back up or restore your expenses via Wi-Fi for piece of mind.
Overall, it’s a well-organized app for people who need to keep track of business expenses or file reimbursement requests, and at $4.99, it’s probably worth it to be able to enter your expenses and store images of your receipts as you get them.
Duration : 0:1:50
I am a single parent (21 with a 4 yo) and im in my 2nd semester of collage and i was wondering if anyone knew of any good sources for organization and budgeting tips.
I may not be good at some things (like parenting if you ask my 18 year old daughter), but I am good at managing my money!
I don’t know of any good sources except common sense. Definitely finish college…even if it means taking out school loans. But try to apply for Pell grants and other grants and scholarships. When I was a single mom, Pell grants helped me get through financially.
Don’t incur other debt if you can avoid it. Credit card debt is the worst! If you don’t have cash for something, you can’t afford it. I rotate 3 pair of pants and different shirts for work–that’s it! There are different schools of thought on whether it is better to buy a new or used car. I always opt for used but not too old, and I try to save enough to pay cash. If you don’t owe money on a car, you don’t have to carry full coverage on insurance (which is more expensive). Buy used books for school, and always try to sell them back. Buy your clothes, and especially your child’s clothes, from thrift stores. You can find great deals and even sometimes designer clothing there.
For entertainment, eat at home, check out movies and books from the library, or borrow friends from their collections. Take walks. Do counted cross stitch (takes a long time to finish so it’s cheap fun). Take your child to the park and the playground as opposed to places that cost money or just play at home. Look for free events at the library to take your child to. Plant a garden…entertainment and educational for your child and may give you stuff to eat.
Eat healthy. Vegetables are cheaper than meat. So bulk up on them. Macaroni and cheese might be cheap but you’ll pay for it in health costs when you don’t get the vitamins you need out of good eating. Lots of salads and soups! Don’t forget your grains…oatmeal for breakfast…REAL oatmeal (quick oats takes 1 minute to cook)..add your own raisins or apples and honey. And drink lots of water–use a re-fillable bottle–don’t purchase bottled water. It’s expensive and plastic is bad for the environment.
Good luck!
President Obama announces the Fiscal Year 2011 Budget that makes critical investments in job creation and continued economic recovery, while bringing a new level of responsibility to how tax dollars are spent. February 1, 2010.
Duration : 0:10:30
I am applying for this job and the only budgeting experience i have is sorting income from expense and mainting a certain budget on what products to purchase under a given amount of money. Is there a term for these two specific things i do that i can put in my resume instead of rambling on word by word of what i can do?
maybe you should include activities such as forecasting and making a cost savings plan
Post your response to the following questions: How are budgeting systems used to weigh the efficiency and effectiveness of a health and human service agency? Why is this important
You figure out the efficiency by looking at a program’s total budget and then dividing it by the number of people who will participate in the program. (Unit cost).
The effectiveness is determined by designing program outcomes. Initially you measure your outcomes against other similar programs, then you develop a baseline and begin to measure against yourself. For example, if your program provides tutoring, you would want to measure how many students achieved a passing grade, how many were promoted, how many had completed homework, etc. You convert this to a % and try to achieve at least a 50% success rate. The next year try for 60% and so on. Then determine what the program costs per student and try to lower your unit cost each year.
Todd speaking on zero-based budgeting in Georgia at the Conservative Republican Women’s candidate forum on June 10, 2010 in Stockbridge, GA.
Duration : 0:0:51
