9._The_Budgeting_Process
完善的财务制度英文
完善的财务制度英文I. IntroductionA well-established financial system is crucial for the success of any organization. A robust financial system helps in the efficient management of resources, tracking of financial transactions, and ensuring compliance with laws and regulations. This document outlines the key components of our organization's financial system, the roles and responsibilities of various stakeholders, and the procedures and policies that govern financial operations.II. Organizational StructureOur organization's financial system is overseen by the finance department, which is headed by the Chief Financial Officer (CFO). The finance department is divided into several sub-departments, each responsible for specific financial functions such as accounting, budgeting, financial planning, and risk management. The CFO reports directly to the CEO and is responsible for overseeing all financial operations and providing strategic financial guidance to the executive team.III. Budgeting and Financial PlanningA key component of our financial system is the annual budgeting process. The CFO, in collaboration with department heads, prepares a detailed budget that outlines the organization's revenue and expenses for the upcoming fiscal year. The budget is reviewed and approved by the board of directors before being implemented. Throughout the year, the finance department monitors actual financial performance against budgeted targets and provides regular updates to the board and management team.IV. Accounting and Financial ReportingThe accounting department is responsible for recording all financial transactions, preparing financial statements, and ensuring compliance with accounting standards and regulations. The department is headed by the Chief Accountant, who oversees a team of accountants and bookkeepers. The accounting department maintains accurate and up-to-date financial records, including income statements, balance sheets, and cash flow statements. Financial reports are generated on a monthly, quarterly, and annual basis and are distributed to the board, management team, and other stakeholders.V. Internal Controls and Risk ManagementTo safeguard the organization's assets and ensure the integrity of financial operations, the finance department implements robust internal controls and risk management processes. These include segregation of duties, regular audits, and compliance checks. The risk management team identifies and addresses potential financial risks, such as fraud, market fluctuations, and regulatory changes. The CFO works closely with the risk managementteam to develop strategies to mitigate risks and safeguard the organization's financial health.VI. Procurement and Vendor ManagementThe finance department is responsible for managing the organization's procurement process and vendor relationships. All purchases and contracts must adhere to established procurement policies and procedures. The finance department conducts regular vendor reviews to assess performance, ensure compliance with contract terms, and identify opportunities for cost savings. Vendor payments are processed in a timely manner, and the finance department maintains accurate records of all procurement activities.VII. Compliance and Regulatory ReportingCompliance with laws and regulations is a top priority for our organization. The finance department ensures that all financial operations are conducted in accordance with applicable laws, accounting standards, and regulatory requirements. The CFO stays abreast of changes in regulations and ensures that the organization remains in compliance. Regulatory reports, such as tax filings and financial disclosures, are prepared and submitted in a timely manner to regulatory authorities.VIII. Training and DevelopmentTo ensure the success of our financial system, the finance department invests in training and development programs for staff members. Training sessions are conducted on financial policies and procedures, accounting standards, and emerging trends in finance. The finance team is encouraged to pursue professional certifications and undergo continuous education to enhance their skills and knowledge.IX. Technology and AutomationOur organization leverages technology and automation to streamline financial processes and enhance efficiency. The finance department uses accounting software to record transactions, generate reports, and track financial performance. Automated workflows and approval processes are implemented to reduce manual errors and ensure compliance with internal controls. The CFO explores opportunities to integrate new technologies, such as artificial intelligence and blockchain, to further enhance the organization's financial system.X. ConclusionA well-functioning financial system is the backbone of any successful organization. Our organization's financial system is designed to promote transparency, accountability, and efficiency in financial operations. By implementing robust policies and procedures, investing in training and development, and leveraging technology, we are able to effectively manage resources, mitigate risks, and achieve our financial goals. The finance department plays a critical role in ensuring the organization's financial health and sustainability. With a strong financial system in place, our organization is well-positioned for long-term success.。
ACCA F4-F9模拟题及解析(1)
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2
财经网络教育领导品牌 _________________________________________________________________
Equity as at 1 October 2011 Equity shares of $1 each 30,000 10,000 Retained earnings 54,000 35,000 The following information is relevant: (i) At the date of acquisition, the fair values of Greca’s assets were equal to their carrying amounts with the exception of two items: An item of plant had a fair value of $1·8 million above its carrying amount. The remaining life of the plant at the date of acquisition was three years. Depreciation is charged to cost of sales. Greca had a contingent liability which Viagem estimated to have a fair value of $450,000. This has not changed as at 30 September 2012. Greca has not incorporated these fair value changes into its financial statements. (ii) Viagem’s policy is to value the non-controlling interest at fair value at the date of acquisition. For this purpose, Greca’s share price at that date can be deemed to be representative of the fair value of the shares held by the non-controlling interest. (iii) Sales from Viagem to Greca throughout the year ended 30 September 2012 had consistently been $800,000 per month. Viagem made a mark-up on cost of 25% on these sales. Greca had $1·5 million of these goods in inventory as at 30 September 2012. (iv) Viagem’s investment income is a dividend received from its investment in a 40% owned associate which it has held for several years. The underlying earnings for the associate for the year ended 30 September 2012 were $2 million. (v) Although Greca has been profitable since its acquisition by Viagem, the market for Greca’s products has been badly hit in recent months and Viagem has calculated that the goodwill has been impaired by $2 million as at 30 September 2012. Required: (a) Calculate the consolidated goodwill at the date of acquisition of Greca. (b) Prepare the consolidated income statement for Viagem for the year ended 30 September 2012. The following mark allocation is provided as guidance for these requirements: (a) 7 marks (b) 14 marks (21 marks) (c) The carrying amount of a subsidiary’s leased property will be subject to review as part of the fair value exercise on acquisition and may be subject to review in subsequent periods. Required: Explain how a fair value increase of a subsidiary’s leased property on acquisition should be treated in the consolidated financial statements; and how any subsequent increase in the carrying amount of the leased property might be treated in the consolidated financial statements. Note: Ignore taxation. (4 marks)
宝钢预算流程及环节
宝钢预算流程及环节英文回答：Baosteel Budgeting Process and Procedures.Baosteel, as a leading steel manufacturer in China, has implemented a comprehensive budgeting process to ensure effective financial planning and control. The budgeting process is designed to align the company's financial resources with its strategic objectives and operational plans. It involves a series of iterative steps and reviews, with various departments and stakeholders actively involved.Key Stages of the Budgeting Process.The Baosteel budgeting process typically consists ofthe following key stages:1. Planning and Development: This stage involves the development of the overall budgeting framework, includingthe timeline, guidelines, and templates. Business units and departments prepare their initial budget proposals based on their specific goals and objectives.2. Review and Consolidation: The initial budget proposals are reviewed and consolidated at the departmental and corporate levels. This process involves detailedanalysis and discussions to ensure alignment with the company's strategic priorities and overall financial targets.3. Budget Approval: The consolidated budget proposals are presented to the senior management for review and approval. The approved budget becomes the financial roadmap for the upcoming fiscal year, guiding the allocation of resources and expenditure.4. Execution and Monitoring: During the execution phase, the budget is used as a monitoring tool to track actual performance against the plan. Regular budget reviews and adjustments are made as necessary to ensure that the company stays on track with its financial objectives.5. Evaluation and Reporting: At the end of the fiscal year, the budgeting process concludes with an evaluation and reporting phase. The actual financial results are compared against the budgeted targets, and variances are analyzed. This evaluation process provides valuableinsights for improving budgeting accuracy and effectiveness in subsequent years.Roles and Responsibilities.Various departments and individuals play specific roles in the budgeting process:Business Units: Responsible for developing theirinitial budget proposals based on operational plans and resource requirements.Finance Department: Facilitates the budgeting process, provides guidance, and consolidates budget proposals.Senior Management: Reviews and approves the budget,providing strategic oversight and financial direction.Internal Audit: Provides independent assurance and review of the budgeting process and financial controls.Continuous Improvement and Innovation.Baosteel continually seeks to improve and innovate its budgeting process. This includes implementing digital tools and automation to enhance efficiency and accuracy. The company also encourages collaboration and knowledge sharing among different departments involved in the budgeting process.中文回答：宝钢预算流程及环节。
物业管理专业英语
物业管理专业英语物业管理专业英语是指在物业管理领域中使用的专业英语词汇和表达方式。
物业管理是指对房地产物业进行综合管理和维护的一项工作，包括物业运营、设施管理、客户服务等方面。
在国际化的背景下，掌握物业管理专业英语对于从事物业管理工作的人员来说至关重要。
以下是物业管理专业英语中常用的词汇和表达方式：1. Property management（物业管理）: The operation, control, and oversight of real estate properties, including residential, commercial, and industrial properties.2. Facility management（设施管理）: The coordination and maintenance of various physical assets within a building or property, such as HVAC systems, electrical systems, and security systems.3. Tenant（租户）: A person or organization that rents or leases a property from a landlord.4. Lease（租赁合同）: A legal contract between a landlord and a tenant that outlines the terms and conditions of the rental agreement.5. Maintenance（维护）: The ongoing upkeep and repair of a property or its facilities to ensure they are in good working condition.6. Rent（租金）: The payment made by a tenant to a landlord in exchange for the use of a property.7. Property inspection（物业检查）: The process of assessing the condition of a property to identify any maintenance or repair needs.8. Occupancy rate（入住率）: The percentage of occupied units in a property compared to the total number of units available for rent.9. Property manager（物业经理）: The person responsible for overseeing the day-to-day operations of a property, including tenant relations, maintenance, and financial management.10. Budgeting（预算编制）: The process of planning and allocating financial resources for the operation and maintenance of a property.11. Security measures（安全措施）: Measures taken to ensure the safety and security of a property and its occupants, such as surveillance systems, access control, and security guards.12. Customer service（客户服务）: The provision of assistance and support to tenants and other stakeholders in a property, including addressing their concerns and resolving any issues.13. Landlord（房东）: The owner of a property who rents or leases it to a tenant.14. Eviction（驱逐）: The legal process of removing a tenant from a property due to non-payment of rent or violation of the terms of the lease agreement.15. Lease renewal（租赁续约）: The process of extending the term of a lease agreement between a landlord and a tenant.以上是物业管理专业英语中常用的词汇和表达方式，掌握这些词汇和表达方式对于从事物业管理工作的人员来说非常重要。
FIN简答
1.Profit MaximisationProfit maximization stresses the efficient use of resources, but it is not specific with respect to the time-frame over which profits are to be measured.Financial management is more concerned with the real world and thus must deal every day with two major factors not considered by the goal of profit maximization: uncertainty and timing.Another problem with the goal of profit maximization is that it ignores the timi ng of the project’s returns.Finally, and possibly most importantly, accounting profits fails to recognize one of the most important costs of doing business.利润最大化强调资源的有效利用,但它不是特定的时间框架的利润来衡量。
财务管理更关心的是现实世界,因此必须每天处理两个主要因素没有考虑利润最大化的目标:不确定性和时机。
利润最大化的目标的另一个问题是它忽略了时间的项目的回报。
最后,可能最重要的是,会计利润未能认识到的一个最重要的成本做生意的。
2. Maximization of Shareholder WealthWe have chosen the goal of maximizing shareholder wealth-that is, maximization of the market value of the existing shareholders’ ordinary shares-because the effects of all financial decision can be incorporated into this goal.我们选择wealth-that最大化股东的目标是,现有的市场价值最大化股东的普通shares-because所有金融决策的影响可以被纳入这一目标。
财务制度及流程英文
财务制度及流程英文IntroductionA financial system is a set of procedures and regulations established by an organization to ensure the accurate and efficient management of its financial resources. It encompasses various financial systems and processes such as budgeting, accounting, internal controls, and financial reporting. The financial system is crucial in helping an organization achieve its financial objectives, comply with legal requirements, and make informed financial decisions.This article will explore the components of a financial system and outline the key processes involved in managing the organization's financial resources.Components of a Financial System1. BudgetingBudgeting is an essential component of a financial system as it helps organizations plan and allocate resources effectively. A budget outlines the expected revenues and expenses for a specific period, enabling management to assess the financial health of the organization and make informed decisions. The budgeting process involves setting financial goals, forecasting revenues and expenses, and monitoring actual performance against budgeted targets.2. AccountingAccounting involves recording, classifying, and summarizing financial transactions to provide relevant financial information to stakeholders. The accounting process includes preparing financial statements such as the income statement, balance sheet, and cash flow statement. Accounting also involves analyzing financial data to assess the financial performance of the organization and make recommendations for improvement.3. Internal ControlsInternal controls are procedures and policies implemented by an organization to safeguard its assets, ensure the accuracy of financial data, and prevent fraud and errors. Internal controls help management monitor and control financial activities, identify risks, and comply with legal and regulatory requirements.4. Financial ReportingFinancial reporting involves presenting financial information to stakeholders such as investors, creditors, and regulators. Financial reports provide an overview of the organization's financial performance, position, and cash flows. The key financial reports include the annual report, quarterly reports, and interim financial statements.Key Processes in Financial Management1. Financial PlanningFinancial planning involves setting financial goals, developing strategies, and allocating resources to achieve the organization's objectives. The financial planning process includes forecasting revenues and expenses, analyzing financial data, and developing a budget. Financial planning helps management assess the financial health of the organization and make informed decisions.2. Budgeting ProcessThe budgeting process involves preparing a budget for the organization's operations, projects, or departments. The budget outlines the expected revenues and expenses for a specific period, enabling management to allocate resources effectively and monitor performance against budgeted targets. The budgeting process includes setting financial goals, forecasting revenues and expenses, and monitoring actual performance.3. Financial AnalysisFinancial analysis involves analyzing financial data to assess the financial performance and position of the organization. Financial analysis helps management make informed decisions, identify trends and patterns, and develop strategies for improvement. Key financial analysis tools include ratio analysis, trend analysis, and variance analysis.4. Financial Reporting ProcessThe financial reporting process involves preparing and presenting financial information to stakeholders such as investors, creditors, and regulators. Financial reports provide an overview of the organization's financial performance, position, and cash flows. The financial reporting process includes preparing financial statements such as the income statement, balance sheet, and cash flow statement.5. Internal Control ProceduresInternal control procedures are policies and practices implemented by an organization to safeguard its assets, ensure the accuracy of financial data, and prevent fraud and errors. Internal control procedures help management monitor and control financial activities, identify risks, and comply with legal and regulatory requirements. Key internal control procedures include segregation of duties, authorization procedures, and physical controls.6. Audit ProcessThe audit process involves reviewing and assessing the organization's financial statements, processes, and controls to provide assurance on the accuracy and reliability of financial information. Auditors examine financial records, verify transactions, and assess compliance with legal and regulatory requirements. The audit process helps stakeholders assess the organization's financial health and make informed decisions.ConclusionA robust financial system is essential for organizations to manage their financial resources effectively, make informed decisions, and achieve their financial objectives. The financial system encompasses various components such as budgeting, accounting, internal controls, and financial reporting. Key processes in financial management include financial planning, budgeting, financial analysis, financial reporting, internal control procedures, and the audit process.By implementing a comprehensive financial system and following established processes, organizations can improve their financial performance, reduce risks, and enhance stakeholder confidence. It is crucial for organizations to continuously review and update their financial system to adapt to changing business environments and regulatory requirements. A well-designed financial system and processes are essential for the long-term success and sustainability of an organization.。
英文面试题目香港(3篇)
第1篇IntroductionHong Kong, a vibrant and bustling city, has long been a global hub for finance, commerce, and culture. As such, it attracts professionals from all over the world who are eager to work and live in this dynamic metropolis. This document provides a comprehensive list of interview questions that are commonly asked during job interviews in Hong Kong. These questions cover various aspects, including cultural understanding, professional experience, language proficiency, and personal qualities.Cultural Understanding1. Can you describe your understanding of Hong Kong's unique cultural blend?2. How do you think your cultural background will help you adapt to Hong Kong's diverse society?3. What are some of the cultural norms and values in Hong Kong that you find most interesting or challenging?4. How would you handle a situation where there is a cultural misunderstanding in the workplace?5. What are your thoughts on Hong Kong's colonial history and its impact on the city's culture today?Professional Experience6. Can you walk us through your professional experience in your previous roles?7. What are your key achievements in your previous positions? Can you provide specific examples?8. How do you handle pressure and meet tight deadlines?9. Can you describe a time when you had to work in a team with members from different cultural backgrounds? How did you manage the diversity?10. What are your strengths and weaknesses as a professional?11. How do you stay updated with the latest trends and developments in your field?12. What motivates you in your career?13. How do you prioritize your work when you have multiple tasks and projects to handle?Language Proficiency14. What is your level of proficiency in English and Cantonese?15. Can you provide examples of how you have used your language skillsin a professional context?16. How would you communicate with a team member who does not speak your language?17. Are you comfortable with written and spoken communication in both English and Cantonese?18. Do you have any experience with other languages? If so, how have you utilized them in your professional life?Personal Qualities19. What are your key personal strengths? How do they contribute to your professional success?20. How do you handle stress and maintain a positive attitude in the workplace?21. Can you describe a time when you had to overcome a significant challenge? What did you learn from the experience?22. How do you approach problem-solving? Can you give an example?23. What are your career goals for the next five years?24. How do you stay motivated and engaged in your work?25. What is your preferred work style (e.g., independent, collaborative, team-oriented)?Workplace Culture and Environment26. How do you think you would fit into the workplace culture in Hong Kong?27. What are your expectations of the working environment in Hong Kong?28. How would you handle the heat and humidity during the summer months?29. What are some of the challenges you anticipate facing in working in Hong Kong?30. How do you plan to maintain a work-life balance in Hong Kong?Technical and Job-Specific Questions31. For technical roles: Can you explain a complex technical concept in simple terms?32. For finance roles: How would you approach the budgeting process fora new project?33. For marketing roles: Can you describe a successful marketing campaign you have led?34. For IT roles: What programming languages are you proficient in?35. For healthcare roles: How do you stay up-to-date with the latest medical research and practices?ConclusionPreparing for an interview in Hong Kong requires a thorough understanding of the city's culture, professional expectations, and personal qualities valued by employers. By addressing these questions thoughtfully and confidently, candidates can demonstrate theirsuitability for the position and their readiness to contribute to the success of the organization. Good luck with your interview!第2篇IntroductionHong Kong, a vibrant and bustling city, has long been a hub for international business, finance, and culture. As such, the interview process for a position in Hong Kong can be quite rigorous. This comprehensive guide covers a wide range of interview questions that are commonly asked during the selection process. Whether you are applying for a job in the corporate sector, the creative industry, or the public sector, these questions will help you prepare for the challenges and opportunities that await you in the Hong Kong job market.Section 1: General Questions1. Tell us about yourself.- This is a classic icebreaker. Keep your answer concise, professional, and tailored to the job you are applying for.2. Why are you interested in working in Hong Kong?- Highlight the unique aspects of Hong Kong that appeal to you, such as its cultural diversity, economic opportunities, or its strategic location in Asia.3. What do you know about Hong Kong's economy?- Discuss the main sectors of the economy, recent trends, and any challenges or opportunities you see in the future.4. How do you handle stress and pressure?- Provide examples of how you have managed stress in the past and what strategies you use to stay calm and focused.5. Describe a time when you had to work under a tight deadline. How did you handle it?- Use the STAR method (Situation, Task, Action, Result) to structure your answer effectively.6. What are your strengths and weaknesses?- Focus on strengths that are relevant to the job and be honest about your weaknesses, emphasizing how you are working to improve them.Section 2: Job-Specific Questions7. For a position in finance:- How do you stay updated with the latest financial news and trends?- Can you explain a complex financial concept in simple terms?- What experience do you have with financial modeling or analysis?8. For a position in marketing:- How would you approach a marketing campaign for a new product in Hong Kong?- What are your thoughts on the importance of digital marketing in Hong Kong?- Can you provide an example of a successful marketing campaign you have worked on?9. For a position in education:- How do you adapt your teaching methods to cater to diverse learning styles?- What are your views on the use of technology in education?- Can you describe a challenging situation you have faced as an educator and how you resolved it?10. For a position in healthcare:- How do you stay up-to-date with the latest medical research and advancements?- Can you discuss a time when you had to work as part of a multidisciplinary team?- What are your thoughts on patient care and how would youprioritize patient needs in a busy environment?Section 3: Cultural and Social Questions11. How do you think Hong Kong's unique blend of Eastern and Western cultures impacts its work environment?- Discuss the advantages and potential challenges of such a diverse cultural environment.12. What are your thoughts on Hong Kong's public transportation system?- Share your experience using public transport in Hong Kong and any suggestions you might have for improvements.13. How do you feel about Hong Kong's property market?- Offer insights into the property market trends and any concerns you have regarding affordability and availability.14. What are your favorite leisure activities in Hong Kong?- This question helps the interviewer gauge your compatibility with the city's lifestyle.15. How do you maintain a work-life balance in Hong Kong?- Share strategies you use to manage your time effectively and maintain a healthy lifestyle.Section 4: Interview Etiquette and Practical Questions16. How should I dress for an interview in Hong Kong?- Provide guidance on appropriate attire for different industries and job roles.17. What are some common interview mistakes to avoid in Hong Kong?- Discuss topics such as punctuality, communication style, and body language.18. How important is English proficiency in Hong Kong?- Highlight the importance of English in various sectors and offer tips on improving language skills.19. What are the main differences between working in Hong Kong and other countries?- Compare and contrast working conditions, cultural norms, and legal frameworks.20. How can I prepare for a virtual interview?- Offer advice on technical preparation, dress code, and ways to ensure a professional online presence.ConclusionPreparing for an interview in Hong Kong requires a thorough understanding of the city's unique culture, economy, and job market. By answering these comprehensive questions, you can demonstrate your readiness to thrive in a dynamic and challenging environment. Rememberto be confident, professional, and genuine in your responses, and bestof luck with your interview!第3篇IntroductionHong Kong, known for its vibrant economy, unique blend of Eastern and Western cultures, and as a global financial hub, presents a unique setof challenges and opportunities for professionals. Whether you are applying for a job in the finance sector, the service industry, or any other field, it is crucial to be well-prepared for the interview process. This comprehensive list of interview questions aims to help candidates understand what they might expect during a job interview in Hong Kong.1. Tell Us About YourselfThis is a classic icebreaker question, but in Hong Kong, it's often used to assess how well you can articulate your background and experiences.- How would you describe your professional background?- What experiences have prepared you for this role in Hong Kong?- How would you summarize your skills and qualifications?2. Why Are You Interested in Working in Hong Kong?Understanding your motivation for moving to Hong Kong can help the interviewer gauge your commitment to the role and the city.- What drew you to Hong Kong as a place to work?- How do you think your experiences or background make you a good fit for Hong Kong's work environment?- What do you envision for your future in Hong Kong?3. What Do You Know About Hong Kong's Business Environment?This question tests your knowledge of the local business landscape and your ability to adapt to it.- Can you describe the economic climate in Hong Kong?- What are the main industries driving Hong Kong's economy?- How does Hong Kong's business environment compare to other international financial centers?4. How Would You Handle the High Cost of Living in Hong Kong?The cost of living in Hong Kong is one of the highest in the world, and this question helps interviewers understand your financial expectations and coping strategies.- How do you plan to manage the high cost of living in Hong Kong?- What financial strategies have you used to live in expensive cities before?- Are you open to different living arrangements, such as sharing accommodations?5. Describe a Time When You Had to Work Under Pressure.This question is common in Hong Kong, where work-life balance can be challenging, and deadlines are often tight.- Can you give an example of a time when you had to meet a tight deadline?- How did you prioritize your tasks under pressure?- What strategies did you use to maintain your performance during stressful situations?6. How Do You Handle Conflict in the Workplace?Conflict is inevitable in any workplace, and this question assesses your ability to resolve issues effectively.- Can you describe a situation where you had to resolve a conflict at work?- What steps did you take to address the conflict?- How do you maintain a professional demeanor when dealing with conflicts?7. What Are Your Strengths and Weaknesses?This is a staple in most interviews, but it's important to provide specific examples that are relevant to the Hong Kong job market.- What do you consider to be your strongest professional skills?- Can you give an example of a time when you demonstrated these strengths?- What do you see as your biggest weakness?- How do you work to improve upon this weakness?8. How Do You Adapt to Change?Change is a constant in Hong Kong's dynamic business environment, and this question evaluates your flexibility and resilience.- Can you give an example of a time when you had to adapt to a significant change in your job or personal life?- How do you stay informed about industry trends and changes in your field?- What strategies do you use to keep yourself motivated during periods of change?9. What Are Your Long-Term Career Goals?Understanding your career aspirations can help the interviewer determine if you are a good long-term fit for the company.- What are your short-term and long-term career goals?- How does this position align with those goals?- What steps are you taking to achieve these goals?10. How Do You Approach Teamwork?Teamwork is crucial in Hong Kong's collaborative work culture, and this question assesses your ability to work effectively with others.- Can you describe a successful team project you have been a part of?- What role did you play in that project?- How do you handle conflicts within a team?11. What Is Your Expected Salary Range?Salary expectations are a sensitive topic, and it's important to research the market rates for your role in Hong Kong.- What is your salary expectation for this position?- How do you determine your salary requirements?- Are you open to negotiation?12. What Questions Do You Have for Us?This is your opportunity to showcase your interest in the role and the company.- Can you tell me more about the day-to-day responsibilities of this position?- How does the company support professional development and career growth?- What are the company's values and how do they align with my own?ConclusionPreparing for an interview in Hong Kong requires a thorough understanding of the local business environment, as well as the ability to articulate your skills and experiences in a way that aligns with the expectations of potential employers. By addressing these questions and demonstrating your knowledge, adaptability, and enthusiasm, you can increase your chances of success in your job interview. Good luck!。
Prince2测试试题
1. Which is one of the six aspects of project performance that needs to be managed? a. Accuracy b. Reliability c. Scope d. Ease of use 2. What theme ensures the project is desirable, viable and achievable? a. Organization b. Progress c. Business Case d. Risk 3. What process is triggered by the project manager’s request to initiate a project? a. Starting up a Project b. Initiating a Project c. Directing a Project d. Managing a Stage Boundary 4. The purpose of what theme is to establish mechanisms to monitor and compare actual achievements against those planned? a. Business Case b. Change c. Progress d. Quality 5. Which is an objective of the Closing a Project process? a. Check that all the project’s products have been accepted by the users b. Prepare for the final stage of the project c. Capture the customer’s quality expectations d. Ensure that all benefits have been achieved 6. Identify the missing words in the following sentence. A purpose of the Managing a Stage Boundary process is to provide the Project Board with sufficient information so that it can approve the {?} for the next stage. a. Work Packages b. Exception Report c. Stage Plan d. Project Brief 7. What theme provides information on what is required, how it will be achieved and by whom? a. Organization b. Plans c. Business Case d. Quality 8. Which is recommended as a possible risk response type for an opportunity? a. Reduce b. Transfer c. Reject d. Fallback
财政预算管理一体化系统操作手册
财政预算管理一体化系统操作手册Managing a financial budget can be a challenging task for any organization, regardless of its size or industry. It is important to have a clear understanding of the financial goals and objectives of the organization in order to develop a comprehensive budget plan. 财政预算管理对于任何规模或行业的组织来说都是一项具有挑战性的任务。
要制定全面的预算计划，有必要清楚了解组织的财务目标和目标。
One effective way to streamline the budget management process is to implement an integrated budget management system. This system can help organizations improve efficiency, accuracy, and transparency in their budgeting processes. 一个有效的简化预算管理流程的方法是实施一体化的预算管理系统。
这种系统可以帮助组织在预算过程中提高效率、准确性和透明度。
The operation manual for the integrated budget management system plays a crucial role in guiding users on how to effectively utilize the system. It should provide detailed instructions on how to navigate the system, input data, generate reports, and perform various budgeting tasks. 一体化预算管理系统的操作手册在指导用户如何有效利用系统方面起着至关重要的作用。
PMP认证模拟题及答案（中英文双语版）
PMP认证模拟题及答案（中英文双语版）200道全真模拟题共200题，正确1题，整卷得分1分，随机得分：0一.选择题（本大题共200小题)1.In crashing a task,you would focus on:A.As many tasks as possibleB.Non-critical tasksC.Accelerating performance of tasks on critical pathD.Accelerate performance by minimizing cost赶工一个任务时，你应该关注：A尽可能多的任务。
B非关键任务。
C加速执行关键路径上的任务。
D通过成本最低化加速执行任务。
正确答案：C2.'I cannot test the software until I code the software.'This expression describes which of the following dependencies?A.DiscretionaryB.SoftC.PreferentialD.Mandatory or hard“在对软件编码前我不能进行软件测试。
”这句话说明了哪种依赖关系？A随意的B软逻辑关系C优先D强制或硬逻辑关系正确答案：D3.Which of the following formulas provides the mostaccurate result for computing activity duration?A.AD=Work quantity/Production rateB.AD=Work quantity/Number of resourcesC.AD=Production rate/Work quantityD.AD=(Production rate)(Work quantity)/Number of resources以下哪个公式能最准确的计算活动历时？A AD（活动历时）=工作数量/生产率B AD=工作数量/资源数量C AD=生产率/工作数量D AD=生产率x工作数量/资源数量正确答案：A4.Resource leveling:A.deals with the effective use of resources through the scheduling of the project toB.minimize the resource time.C.typically tends to have no effect on the duration of the activitiesD.tends to increase the original project completion dateE.is parallel working for decreasing the project completion date资源平衡：A通过对项目进行进度计划编制，使资源时间最小化，有效的利用资源。
财务-预算流程 budget work flow
一、预算流程(Budget process)1.每年9月份开始，物流部需要收集客户下年度的叫货信息，并与德国沟通下年度的销售预测。
物流部在9月底与德国完成下年度月销售预测数据的放行。
采购部9月底与德国确认下年度的模具收入。
From September, logistic dep. collects the customers’ order plan, and communicates with Germany about the next year sales forecast. In the end of September logistic dep. finish the release about the forecast. At same time Purchase dep. confirms mould sales incomes with Germany in the end of September.2.10月10日，财务部将放行的年度月销售预测数据发送到生产计划部和采购部，生产计划部和采购部合作在7个工作日内完成需要完成材料耗用计划，库存计划，采购计划和采购价格，并根据产能计算出设备投资计划和人员计划。
生产计划部将完成的计划发送给生产各部门和财务部。
On October 10th, finance dep. will send the released forecast to production plan dep. andpurchase dep. and in seven work days the production plan dep. and purchase dep.finish the material plan, stock plan, purchase plan and purchase price, and PBP calculate the machine investment plan and person plan and send the information to production dep. and finance dep.3.其他生产部门参照生产计划部的计划数据，在10个工作日内完成本部门的采购计划，投资计划，人员计划和维修计划,并且由生产总监审核通过。
《管理会计(双语)》课程 (10)
– Reflect how well unit managers understand the organization’s goals
– Provide an opportunity for the organization’s senior planners to correct misperceptions about the organization’s goals
which are variable costs
The Budgeting Process determines the planned level of most variable costs
2
The Role of Budgets and Budgeting
Budgets serve as a control for managers within the business units of an organization
Using Budgets for Planning and Coordination
Chapter 10
1
Capacity-Related and Flexible Resources
In the short run:
– Capacity-related costs are fixed – The only relevant costs are controllable costs,
fixed costs – Resources that, in the intermediate and long run,
enhance the potential of the organization’s strategy – Long-term capacity resources that create fixed
电力企业资金预算流程
电力企业资金预算流程英文回答：Budgeting Process for Electrical Utilities.The budgeting process for electrical utilities involves several key steps:1. Demand Forecasting and Load Estimation: Accurately forecasting electricity demand and estimating load profiles is crucial to determine the capacity and resources required to meet customer needs. Historical data, weather patterns, economic projections, and customer growth are considered in this phase.2. Capital Budgeting: Capital budgeting involves evaluating and selecting long-term investments that align with the strategic objectives of the utility. This includes projects related to generation, transmission, distribution, and other infrastructure upgrades. Project proposals aresubjected to rigorous analysis to assess their financial viability, risk, and return on investment.3. Operating Budgeting: Operating budgeting focuses on planning and allocating financial resources for ongoing operations, such as fuel procurement, maintenance, labor costs, and administrative expenses. It ensures that there are adequate funds to cover these expenses and maintain reliable service delivery.4. Financial Planning: Financial planning involves developing a comprehensive financial roadmap that aligns with the utility's long-term goals. It includes forecasting revenue and expenses, managing debt and equity, and exploring financial strategies to maintain financial stability and growth.5. Regulatory Approval: In many jurisdictions,electrical utilities are subject to regulatory oversight. As such, their budgets may require approval from regulatory bodies to ensure alignment with industry standards and public interest objectives.6. Implementation and Monitoring: Once the budget is approved, it is implemented and closely monitored to track progress and identify any variances. Regular reporting and analysis help management make necessary adjustments and ensure that the utility remains on track to achieve its financial and operational targets.中文回答：电力企业资金预算流程。
竣工后出预算流程倒置情况说明
竣工后出预算流程倒置情况说明英文回答：The situation of budget process inversion after completion can occur due to various reasons. This refers to a situation where the budgeting process is carried outafter the completion of a project or task, instead of being done prior to the commencement of the project. This canlead to several challenges and complications in managingthe project budget effectively.One possible reason for this situation is poor project planning. If the project planning is not done thoroughly or if there are changes in the project scope or requirements during the execution phase, it can lead to delays in completing the project. As a result, the budgeting process may be delayed and carried out after the project completion.Another reason could be a lack of proper communication and coordination among the project team members. If theproject team fails to communicate effectively or if there are conflicts or disagreements regarding the budgeting process, it can lead to delays and ultimately result in budget process inversion.Additionally, inadequate financial management practices can also contribute to this situation. If the project team does not have a clear understanding of the budgetingprocess or lacks the necessary financial expertise, it can lead to delays and errors in budgeting. This can further lead to the budgeting process being carried out after the project completion.Budget process inversion can have several negative consequences. Firstly, it can lead to difficulties in tracking and managing project costs. Without a predefined budget, it becomes challenging to monitor expenses and ensure that the project remains within the allocated budget.Secondly, it can impact the accuracy and reliability of financial reporting. Without a proper budgeting process in place, it becomes difficult to generate accurate financialreports and assess the financial performance of the project.Lastly, budget process inversion can also result in delays in project completion. If the budgeting process is carried out after the project is completed, it may lead to delays in obtaining necessary funds for project activities, which can further prolong the project timeline.In conclusion, budget process inversion aftercompletion can occur due to poor project planning, lack of communication and coordination, and inadequate financial management practices. This situation can have several negative consequences, including difficulties in tracking project costs, inaccurate financial reporting, and delaysin project completion.中文回答：预算流程倒置情况指的是在项目或任务完成后才进行预算编制的情况。
英语作文合理使用零花钱
英语作文合理使用零花钱Pocket money is a common practice among families with children. It serves as a means to teach children the value of money and the importance of financial management. However, the way pocket money is used can greatly impact a child's financial habits and decision-making skills. In this essay, we will explore the importance of reasonable use of pocket money and provide strategies for parents and children to maximize its benefits.Firstly, pocket money can be an effective tool for teaching children financial responsibility. By providing a regular allowance, children learn to budget their expenses and make informed decisions about how to allocate their funds. This process encourages children to develop critical thinking skills, as they must weigh their immediate desires against long-term goals and priorities. When children are given the autonomy to manage their own money, they are more likely to develop a sense of ownership and accountability, which can translate to better financial habits in adulthood.Moreover, the reasonable use of pocket money can foster financialliteracy and independence. By engaging children in discussions about budgeting, saving, and spending, parents can help them understand the fundamental concepts of personal finance. This knowledge can empower children to make informed decisions about their money, such as setting aside funds for future expenses, investing in their interests, or donating to charitable causes. As children gain a deeper understanding of financial management, they become more confident in their ability to navigate the financial landscape, which can lead to greater financial security and independence in the long run.In addition to the educational benefits, the reasonable use of pocket money can also contribute to the overall well-being of a child. When children are given the opportunity to make their own financial choices, they develop a sense of autonomy and self-control. This can lead to increased self-esteem and decision-making skills, as children learn to prioritize their needs and desires within the constraints of their available resources. Furthermore, the ability to save and budget their pocket money can instill a sense of delayed gratification, which is a valuable skill that can benefit children throughout their lives.However, it is important to note that the reasonable use of pocket money is not a one-size-fits-all approach. The amount of pocket money and the strategies for its use should be tailored to the individual child's age, maturity level, and financial needs. Parentsshould also consider the family's financial situation and the child's unique circumstances when determining the appropriate amount of pocket money to provide.One effective strategy for the reasonable use of pocket money is to establish clear guidelines and expectations. Parents can work with their children to create a budget that allocates funds for essential expenses, such as school supplies or transportation, as well as discretionary spending, such as entertainment or personal items. By involving children in the budgeting process, parents can help them develop a sense of ownership and responsibility over their financial decisions.Another important aspect of the reasonable use of pocket money is the balance between spending and saving. Parents can encourage children to set aside a portion of their pocket money for long-term savings, such as a college fund or a future investment. This not only teaches children the value of delayed gratification but also instills the importance of financial planning and goal-setting. Additionally, parents can introduce the concept of charitable giving, encouraging children to allocate a portion of their pocket money to support causes or organizations they care about, fostering a sense of social responsibility and empathy.Furthermore, parents can use the reasonable use of pocket money asan opportunity to teach children about the consequences of their financial decisions. If a child overspends or makes unwise purchases, parents can use this as a learning experience, guiding them through the process of reflecting on their choices and finding ways to make more informed decisions in the future. This approach helps children develop critical thinking skills and a deeper understanding of the impact of their financial behaviors.In conclusion, the reasonable use of pocket money is a valuable tool for teaching children financial responsibility, fostering financial literacy, and promoting overall well-being. By establishing clear guidelines, encouraging a balance between spending and saving, and using pocket money as a learning opportunity, parents can empower their children to develop sound financial habits that will serve them throughout their lives. As children learn to manage their pocket money effectively, they will be better equipped to navigate the complex financial landscape and make informed decisions that align with their values and goals.。
预算法 英文版
预算法英文版Budgeting MethodA budgeting method is a systematic approach or technique used to plan and allocate financial resources efficiently. It helps individuals, businesses, or organizations to manage and control their income, expenses, and savings effectively. The following are some commonly used budgeting methods:1. Traditional Budgeting: This method involves estimating income and expenses for a specific period, usually a year. It focuses on forecasting future revenues and expenditures based on historical data and expected changes.2. Zero-Based Budgeting: In this method, every expense must be justified, starting from zero. It requires individuals or organizations to evaluate each budget item and determine its necessity or importance. This approach helps identify unnecessary expenses and promotes accountability.3. Envelope Budgeting: This technique involves allocating cash into different envelopes based on predefined spending categories, such as groceries, transportation, and entertainment. Each envelope represents a specific budget, and when the cash is used up, no further spending in that category is allowed until the next period.4. 50/30/20 Budgeting: This method suggests allocating 50% of income to needs (essential expenses like rent, food, utilities), 30% to wants (non-essential expenses like dining out, entertainment), and 20% to savings or debt repayment. It provides a framework forbalancing spending and savings.5. Value-Based Budgeting: This approach aligns budgeting with an individual's or organization's values and priorities. It involves identifying and allocating resources to activities or expenses that are most important and meaningful, ensuring resources are used in alignment with core values.6. Activity-Based Budgeting: This method involves allocating resources based on the costs associated with different activities or projects. It requires determining the cost drivers for each activity and then assigning funds accordingly. This approach helps organizations focus on cost-effective activities and improve resource allocation.7. Rolling Budgeting: A rolling budget is a continuously updated budget that extends beyond a one-year period. It is often used by businesses to adapt to changing circumstances and provide a more accurate forecast for the upcoming periods.These are just a few examples of budgeting methods that can be used to effectively manage finances. The choice of method depends on personal preferences, financial goals, and the complexity of the budgeting process.。
预算对接流程表
预算对接流程表Budget integration is a critical process in the financial management of any organization. It involves aligning the budget figures across different departments or units within an organization to ensure consistency and accuracy in financial reporting. This process is especially important for large organizations with multiple divisions or branches that operate independently but need to consolidate their financial information at the end of the fiscal year.预算对接是任何组织财务管理中至关重要的过程。
它涉及将组织内不同部门或单位的预算数字进行对齐，以确保财务报告的一致性和准确性。
这个过程对于有多个独立运营部门或分支机构的大型组织尤为重要，他们需要在财政年度结束时 consBudget integration typically involves several key steps, starting with the collection of budget data from various departments. This data is then consolidated and reviewed for accuracy and consistency. Any discrepancies or variances are identified and reconciled before the final budget figures are approved and distributed to the relevant stakeholders. Communication and collaboration betweendepartments are crucial during this process to ensure that everyoneis on the same page and working towards the same financial goals.预算对接通常涉及几个关键步骤，首先是从各个部门收集预算数据。
资金预算英语作文
资金预算英语作文Managing a budget is a crucial aspect of financial planning for individuals, businesses, and organizations. It involves the process of creating a plan to spend and allocate funds in a way that aligns with specific goals and objectives. Inthis essay, we will explore the importance of budgeting, the challenges it presents, and the strategies for effective budget management.First and foremost, budgeting is essential for individuals and families to ensure financial stability and security. By creating a budget, individuals cantrack their income and expenses, identify areas for saving and investment, and avoid unnecessary debt. It also enables them to prioritize their spending based on their needs and goals, such as education, retirement, or homeownership. Additionally, budgeting allows for better decision-making and helps in planningfor unexpected expenses or emergencies.Similarly, businesses and organizations rely on budgeting to manage their finances and operations effectively. A well-planned budget enables businesses to allocate resources for various activities, such as production, marketing, and research, in line with their strategic objectives. It also aids in monitoring performance, identifying cost-saving opportunities, and ensuring profitability and sustainability. Moreover, budgeting is crucial for securing funding, attracting investors, and demonstrating financial discipline and responsibility.Despite its significance, budgeting presents several challenges that individuals, businesses, and organizations often encounter. One common challengeis the lack of accurate and up-to-date financial information, which can hinder the development of a realistic budget. Additionally, unexpected changes in income, expenses, or market conditions can disrupt the budgeting process and require adjustments. Moreover, budgeting may be perceived as restrictive or time-consuming, leading to resistance and non-compliance.To address these challenges, it is essential to adopt effective strategies for budget management. For individuals, this may involve maintaining detailed records of income and expenses, setting realistic financial goals, and seeking professional advice if needed. It also requires discipline and commitment to following the budget and making necessary adjustments as circumstances change. For businesses and organizations, effective budget management entails involving key stakeholders in the budgeting process, conducting thorough financial analysis, and using reliable budgeting tools and software. It also requires regular monitoring and evaluation of budget performance to ensure alignment with strategic objectives.In conclusion, budgeting is a critical aspect of financial management for individuals, businesses, and organizations. It enables them to plan, allocate, and monitor their finances in a way that supports their goals and objectives. While budgeting presents challenges, adopting effective strategies for budget management can help overcome these obstacles and ensure financial stability and success. By embracing the importance of budgeting and committing to its principles, individuals, businesses, and organizations can achieve greater control over their finances and pave the way for long-term prosperity.。
预算的英语作文
预算的英语作文Title: Mastering Budgeting: A Comprehensive Guide。
Budgeting plays a pivotal role in managing personal finances effectively. Whether it's for an individual, a family, or a business, having a well-crafted budget ensures financial stability and helps achieve long-term goals. In this essay, we delve into the intricacies of budgeting, its importance, and strategies to master it.Understanding Budgeting。
At its core, a budget is a financial plan outlining expected income and expenses over a specific period. It serves as a roadmap, guiding spending decisions and ensuring that financial resources are allocated wisely. Budgeting involves forecasting future income, estimating expenses, and making adjustments to achieve financial objectives.The Importance of Budgeting。
1. Financial Discipline: Budgeting instills disciplinein managing money. By tracking expenses and adhering to a budget, individuals can avoid overspending and prioritize essential needs.2. Achieving Goals: Whether it's saving for a vacation, buying a home, or retiring comfortably, budgeting helps individuals work towards their financial goals systematically.3. Emergency Preparedness: A well-planned budget includes provisions for emergencies and unexpected expenses, providing a financial safety net during challenging times.4. Debt Management: Budgeting facilitates debt repayment by allocating funds towards paying off debts systematically, thus reducing financial stress and interest payments.5. Building Wealth: Through effective budgeting,individuals can allocate resources towards investments and savings, laying the foundation for long-term wealth accumulation.Strategies for Mastering Budgeting。
雅思作文家庭开支
雅思作文家庭开支In today's society, managing family expenses is a crucial aspect of maintaining a stable and comfortable lifestyle. The allocation of funds for various needs and wants within a household can often be a source of stress and conflict. This essay will explore the complexities of family expenses, including the challenges of budgeting, the impact of economic factors, and the importance of communication and compromise within the family unit.One of the primary challenges of family expenses is the task of budgeting. With the multitude of financial demands that a family faces, it can be difficult to prioritize and allocate funds effectively. From basic necessities such as food, shelter, and utilities to discretionary expenses like entertainment and travel, there are numerous competing financial obligations that must be considered. This can create tension within the family as members may have differing opinions on how money should be spent. Additionally, unexpected expenses can arise, further complicating the budgeting process. For example, a sudden medical emergency or home repair can throw off the carefully planned budget, leading to stress and strain on the family's finances.Economic factors also play a significant role in shaping family expenses. Inflation, fluctuating interest rates, and changes in the job market can all impact a family's financial situation. For instance, if one or more family members lose their job or experience a reduction in income, this can have a profoundeffect on the family's ability to meet their financial obligations. Similarly, rising prices for goods and services can put a strain on the budget, forcing families to make difficult decisions about where to cut back. These economic pressures can lead to feelings of anxiety and uncertainty within the family, as they struggle to adapt to changing financial circumstances.Effective communication and compromise are essential for managing family expenses. Open and honest discussions about financial goals, priorities, and concerns can help to alleviate tension and build consensus within the family. Byworking together to create a budget that reflects the needs and values of all family members, individuals can feel heard and respected, reducing the potential for conflict. Moreover, the willingness to compromise and make sacrifices for the greater good of the family can foster a sense of unity and cooperation. For example, if one family member is passionate about a particular hobby or activity that requires a significant financial investment, they may need to compromise by finding more cost-effective alternatives or cutting back in other areas to accommodate their passion.In conclusion, managing family expenses is a complex and multifaceted endeavor that requires careful consideration of budgeting, economic factors, and interpersonal dynamics. By approaching this challenge with open communication, flexibility, and a willingness to compromise, families can navigate the complexities of their financial obligations with greater ease and harmony. While the task of managing family expenses may be daunting at times, it also presents an opportunity for growth, cooperation, and shared responsibility within the family unit.。
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Stages in the budgeting process
municate details of budget policy and guidelines to those people responsible for preparing the budget. 2. Determine the factor that restricts output. 3. Preparation of the sales budget. 4. Initial preparation of budgets. 5. Negotiation of budgets with higher management. (See figure on slide 15.4)
ABB involves the following stages:
1. Estimate the production and sales volume by individual products and customers. 2. Estimate the demand for organizational activities. (e.g.Process 5,000 customers’ orders for the customer order processing activity) 3. Determine the resources that are required to perform organizational activities. (e.g.0.5 hours per order = 5,000 × 0.5 hours = 2,500 labour hours for the customer processing activity must be supplied)
• ABB aims to authorize only the supply of those resources that are needed to perform activities required to meet budgeted production and sales volumes.
Exhibit 15.1 Activity-based budget for an order receiving process
Hale Waihona Puke Recommended Texts
Colin Drury management and cost accounting 8th Addition
david.mcdonnell@ittdublin.ie
5. To control activities: • by comparison of actual with budget (attention directing/management by exception). 6. To evaluate the performance of managers: • by providing a means of informing managers of how well they are performing in meeting targets they have previously set.
• by ensuring appropriate individuals are made accountable for implementing the budget.
4. To motivate managers to strive to achieve the budget goals: • by focusing on participation • by providing a challenge/target.
13
Example
Budgeted activity for processing orders = 2,800 orders Orders processed per person = 600 Resources required = 4.67 persons Resources supplied (practical capacity for 3,000 orders) = 5 persons Employment costs (£25,000 per person per year) = £125,000 Cost driver rate (£125,000/3,000 orders) = £41.67 Actual orders processed for the period = 2,500 orders Performance report: Flexed budget (2,500 ×£41.67 ) = £104,175 Budgeted unused capacity (3,000 — 2,800)× £41.67 = 8,334 Unplanned unused capacity (2,800 –2,500)× £41.67 = 12,491 125,000
• by compelling managers to examine relationships between their own operation and those of other departments.
Why do we produce budgets?
3. To communicate plans to various responsibility centre managers: • everyone in the organization should have a clear understanding of the part they are expected to play in achieving the annual budget.
6. Co-ordination and review of budgets.
7. Final acceptance of budgets. 8. Ongoing review of the budgets.
Fig 15.4 An illustration of budgets moving up the organizational hierarchy.
(e.g If 3 persons are presently employed on the activity resources must be reduced,or redeployed, by one person)
Periodically actual results should be compared with an adjusted (flexible) budget.
MANAGEMENT AND COST ACCOUNTING
The Budgeting Process
Fig 15.1 An overview of the planning process
1. Identify the objectives of the organization. 2. Identify potential strategies. 3. Evaluate alternative strategic options. 4. Select course of action. 5. Implement the long-term plan in the form of the annual budget. 6. Monitor actual results. 7. Respond to divergencies from plan.
Activity-based budgeting (ABB)
• Conventional budgeting is inappropriate for those activities where the consumption of resources does not vary proportionately with the volume of the final output of products or services. • For support activities conventional incremental budgets merely serve as authorization levels for certain levels of spending. • Incremental budgeting results in the cost of non-unit level activities becoming fixed.
Why do we produce budgets?
1. To aid the planning of actual operations: • by forcing managers to consider how conditions might change and what steps should be taken now. • by encouraging managers to consider problems before they arise. 2. To co-ordinate the activities of the organization:
4. Estimate for each resource the quantity that must be supplied to meet the demand. (e.g.Assume a step cost function with each person employed contracted to work 1,500 hours per year so that quantity of resources required = 2,500/1,500 =1.67 persons meaning that 2 persons must be employed) 5.Take action to adjust the capacity of resources to match the projected supply.