...PRE-BUDGET REVIEW: AUTUMN STATEMENT 2012 1101 4457 Contents Page 1.0 Introduction 2.0 Three Key Issues 3.0 Key Issue Proposed 4.0 Conclusion 5.0 References 6.0 Bibliography Introduction The purpose of the pre budget review is to draw the attention of investors to the proposed changes to be made to the economy and also be able to make necessary arrangement to adapt to the policy. The 2012 pre budget proposed by the Chancellor is based on three key issues; the Personal Allowance Increase, which is meant for the aging population, an issue which has always been addressed from previous budgets. The purpose of the increase in Annual Investment Allowance is to support small and medium firms to boost production from £25,000 - £250,000 for just a short period of two years. Lastly, the pension savings allowance decrease, which the government aims to use for reducing its budget deficit by a quarter of a million pounds that would be of benefit on the long run. These subjects shall be addressed in details on how it would have an effect on the government, employees, employers, corporations, and pensioners because this change would either affect them positively or negatively. This change would be of benefit to the pension scheme on long terms basis based on the fairness of tax treatment for the basic taxpayers who would benefit £170 while the higher rate tax payers by £42.50, giving an estimate of 23.6 million taxpayers gaining from the reductions...
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...Annual Report and Form 20-F 2013 InterContinental Davos, Switzerland 1777 It all began in 1777 when William Bass opened a brewery in Burton-on-Trent in the UK. Bass made its move into the hotel industry in 1988, buying Holiday Inn International. By 2003 the business had changed from domestic brewer to international hospitality retailer: InterContinental Hotels Group PLC. 1946 InterContinental® Hotels & Resorts In April 1946 Juan Trippe, the founder of Pan American Airways, had a vision to bring high-quality hotel accommodation to the end of every Pan Am flight route. This led to the first InterContinental being opened in 1949, the Hotel Grande in Belém, Brazil. From here InterContinental Hotels & Resorts expanded steadily to become the world’s first truly international luxury hospitality brand. The brand’s ethos is to provide insightful, meaningful experiences that enhance our guests’ feeling that they are in a global club. Bass acquired the InterContinental brand in 1998, adding it to our brand portfolio. Front cover Crowne Plaza Resort, Xishuangbanna, People's Republic of China 178 hotels; 60,103 rooms open 51 hotels in the pipeline Contents OVERVIEW STRATEGIC REPORT GOVERNANCE GROUP FINANCIAL STATEMENTS PARENT COMPANY FINANCIAL STATEMENTS Overview: 2 The IHG story 4 Chairman’s statement 6 Chief Executive Officer’s review Strategic Report: 10 Industry overview 12 Industry performance in 2013 14 IHG at a glance 16 Our business model 17 Our preferred...
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...PROJECT REPORT on BUDGET DEMANDS OF DADRA AND NAGAR HAVELI 2013 Submitted by :- Prasad Gawali Introduction:- Dadra and Nagar Haveli is a Union Territory in western India. Nagar Haveli is wedged between Maharashtra and Gujarat, whereas Dadra is an enclave lying a few kilometres north of Nagar Haveli in Gujarat. Its capital is Silvassa. The territory lies some ten to thirty kilometres up-river from the city of Daman. Dadra and Nagar Haveli (DNH) are in the watershed of the Daman Ganga River, which flows through the territory. The towns of Dadra and Silvassa lie on the north bank of the river. The Western Ghats range rises to the east, and the foothills of the range occupy the eastern portion of the district. The territory is landlocked, although the Arabian Sea coast lies just to the west in Gujarat. The major spoken languages in the territory are Gujarati, Hindi and Marathi. The area of Dadra and Nagar Haveli is spread over 491 km2, landlocked between Gujarat to the north and Maharashtra to the south. It was liberated from its Portuguese rulers on 2 August 1954. The people of the territory established free administration of Dadra and Nagar Haveli, which was finally merged into the Union of India in 1961. Administration A Lieutenant Governor administers the territory, which covers an area of 188 sq mi or 487 km² and consists of two talukas. Currently the lieutenant governor is B.S . Bhalla. Total Population – 3.5 lakh * Dadra * Nagar Haveli Dadra...
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...Table of contents Introduction 12 Body 13 3.1 Explain the purpose and nature of budgeting process which should normally be taken in the preparation of budgets for Glentruan Furniture Ltd. 13 Budget 13 Purpose and nature of budget 15 Purpose 15 Nature 15 3.2 Select appropriate budgeting methods for new product line and its need. 16 Incremental budget 16 Zero based budget 16 Different between zero based budgeting and incremental budget 16 Fixed budget 17 Flexible budget 17 Different between fixed and flexible budget 17 Functional budget 18 Sales budget 18 Production budget 18 Direct material usage budget 18 Direct material purchase budget 18 Direct labor budget 18 Factory overhead budget 18 Selling and administration budget 18 Cash budget 19 Master budget 19 3.3 Prepare budgets according to the chosen budgeting methods based on the given information in the scenario. 20 Sales budget 20 Production budget 22 Direct material usage budget 23 Direct material purchase budget 26 Direct labor budget 28 Factory overhead budget 30 Selling and administration budget 34 Departmental budget 35 3.4 Also prepare a cash budget. 38 Cash budget 38 Master budget 42 Budgeted profit and loss 42 Budgeted balance sheet 43 Final review 46 Budget committee 47 Working capital 47 Liquidity ratio 47 ROCE 47 4.1 Calculate variances, identify possible causes and recommend corrective action. 48 4.2 Prepare and operating statement...
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...Health Care Budget An operating budget is a strategic initiative for the organizations financial plans over the course of the coming year. The operating budget works directly with the Statement of Activities (SOA) for a fiscal year to accomplish the organization financial goals. To produce an effective operating budget the organization needs to have knowledge of what financial management practices work best for the financial goals they are planning to use. Proper understanding of these concepts is vital for the operating budget to become successful for the upcoming year. Effective Financial Management Practices Effective financial management practices include several types of rules that an organization should follow to create a successful operating budget. Budgeting should focus on income first targeting the reliable income in the budget. Never filling those gaps with income projections to cover expenses can cause a deficit if your organization can not produce the income target within the year. Expenses should be lower than the dependable income total. Each department should be in agreement with this financial management practice. This leaves the additional programs and projects to be set in motion if the revenue allows additional funds (Hamilton, 2010). A financial management practices uses the beginning with the prior fiscal years total, and building the new upcoming year budget on those amounts. This takes calculating percentage of increases and decrease to determine...
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...Budget Variance Every hospital faces many challenges, but one of the most difficult challenges is knowing how to manage expenses. When a hospital is planning their budget not only do they have to plan a budget that is beneficial for their staff but also high level care for their patients. With so much in society changing such as technology, increase health care cost, and government restrictions it makes planning the budget very challenging. In order to analyze how expenses are being spent compared to the budget that is allotted for them, budget variances have to be made (accountingtools.com, 2013). These variances have to be extremely well detailed in order to make an accurate budget for the following year. Things that should be taken into consideration when doing a budget variance are variance reports, interpreting the results of variance reports and analyzing these reports based on actual performance, and developing a way to better the budget based on these results. The purpose of this paper is to fully analyze all factors that should be considered for a budget variance for a hospital. The very first step for a budget variance is to develop a variance report (accountingtool.com, 2013). There are various factors that should be analyzed to produce a proper variance report such as how many beds are available, how many patients are seen daily, how much staff is available or working in a specific day, how many supplies will be used, and how much utilities such as electricity...
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...Cost, Budgets and Strategic Decision Making in Management Accounting Answer (a) Budgets can be characterized as a quantitative explanation, for a certain time period, which may incorporate arranged incomes, cash flow, costs, resources, and liabilities. Budgeting alludes to the procedure of outlining, actualizing, and working budgets. Budgeting, as a control device, gives an activity plan to guarantee that the association's real exercises are slightest digressed from the planned exercises. Budgets are utilized to give an outline of the organization and procedures performed in it. They are helpful in asset allocation where assets are distributed in such a route, to the point that the techniques, which are relied upon to give the most astounding returns, receive top priority (Libby and Murray, 2010). Budgets are additionally forecast instruments and bring about a significant improvement readied to adjust to changes in business atmosphere. They ought to be produced in such a route, to the point that they consider the key necessities of each of the functions. Budget detailing comprises of an arrangement of exercises: a budget department is created in which a budget controller is appointed, strategies are developed for budget readiness, budget recommendations are created at the department level, the budget is developed for the whole company, financial backing period and key budget elements are decided, the budget is evaluated and approved, growth is observed, and the budget...
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...Financial Management Author’s name: Stuart Lauderdale Student ID: 21330588 Date: 21st January 2014 Module: Managing budgets and Interpreting Financial Statements Module Code: BM459DO Contents 1.0 Introduction 3 2.0 Method 4 3.0 Budgeting Systems Overview 4 3.1 Budgeting-Key Considerations 6 3.2 The Difference between Profit Centres and Investment Centres 7 4.0 Lightning Limited Illustration 8 4.1 Lightning Limited Analysis Using Accounting Ratios. 9 4.2 Lightning Limited Summary 10 5.0 DPG Budgeting Method 11 6.0 Summary 11 Bibliography 13 1.0 Introduction The purpose of this report is to analyse the system employed by the Operations department of Dominos Pizza Group (DPG) in creating budgets with reflection on the system’s suitability by reviewing alternative methods. The importance of timeliness and other budgetary measures will be factored into the report. The key inputs for designing a budget will be explored along with further research to illustrate the difference between both a Profit and Investment Centre. The financial statements provided for the Lightning Company will be analysed and a minimum of eight financial ratios will be used to determine accomplishment of said company from two perspectives. One being management of the said company and the other being as a prospective investor. All findings will be reported and presented as clearly as possible to enable anyone new to...
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...company. Winbald was just acquired and before that, was privately owned. It is June 2013, and Anne Wright, general Manager of Winbald, is worried about her companies’ substantial underperformance against budget. She needs to understand what has happened, and what might be the best courses of action. The Case Study gives several information on the sales and costs budgeting process as well as the final budget of the company. Furthermore, the Case Study requires an evaluation of the budgeting process as well as a final suggestion (based on two possible courses of action) to the management. ------------------------------------------------- Contents Questions & possible solutions to the Case (A) Sales Budget (B) Costs Budget (C) Overall Solution Appendix (Analysis of the Case – notes to solve problems of the Case Study) A I.I Background Information to the Case A I.II Examining the Sales Budget Process ------------------------------------------------- A I.II Examining the Costs Budget Process (link to the Case Study itself) ------------------------------------------------- ------------------------------------------------- Questions & possible solutions to the Case (A) Sales Budget What do you think of the way the sales budget for 2013 was established? What are the strengths and weaknesses of the process? Referring to 2.1., 2.4. and 2.5. of the Case Study: The sales budget was fed with figures of two separate sources. This is an effective way of getting...
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...Tall 6110 47th Ave South Seattle WA 98118 EDUCATION Bachelor of Arts in Economics – Minor: Public Policy Georgia State University – Andrew Young School of Policy Studies May 2013 Associate of Applied Science in Banking and Finance Georgia Piedmont Technical College May 2009 EXPERIENCE Amazon, BFI 5Seattle, Washington 2014- Present Fulfillment Associate • Sort packages manually to assigned areas • Use a RF unit to palletize product for delivery • Unload trailers for packages to be sort it out • Maintain accuracy, quality, and meet or exceed productivity quotas while performing these tasks • Operate manual and electric material handling equipment such as hand jacks • Perform other duties as assigned Katmai Government Services, Anchorage, Alaska 2011-2013 Role player/foreign language specialist • Trained soldiers through military mission and situational exercises that enable soldiers’ battalions to interact under various conditions • Replicated various roles and groups of people representing possible situations military battalions may face during deployment ...
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...Executive Summary Budgetary Control within public sector entities can be a difficult task due to the complexity of the system. A budget is a financial plan that contains expected revenues and proposed expenditures for a period of time. Every public sector entity needs an operating budget, which is prepared by an executive board and then approved by legislature. One the approved budget is adopted; it becomes a law and cannot be changed. If an entity exceeds its budget, it can be forced to pay hefty fines. The funding for public sector budgets is usually from taxes, loans, revenues, fines, inflation, donations and grants. When controlling revenues, it is important to record revenues as when they are earned. Unearned estimated revenues should remain as unrealized revenues. Budgetary control over expenditures follows the logical cycle: appropriations are recorded, and then encumbrances are recorded, followed by the expenditures, and then payment is disbursed. Public sector entities face both advantages and disadvantages of budgetary control. It is a challenge for such entities to operate within their proposed budgets due to budget cuts, budget surprises, and unforeseen costs, such as emergencies. This is evident in cities such as Detroit, Michigan; Atwater, California; and Fresno California. The most relevant implication of budgetary control was seen in the government shutdown, which occurred on October 1st, and last 16 days. This paper examines the importance of budgetary control...
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...an unnecessary burden for day to day problems? 4 Sales forecasting: 5 Spreadsheets as an aid in the application of sensitivity analysis: 5 Question-2 6 Comments about budget: 6 1. Sales Budget: 7 2. Cash Budget: 7 3. Debtors Budget: 8 4. Creditors Budget: 8 5. Production Cost Budget: 9 6. Raw Materials and finished goods Budget: 9 7. Profit and Loss Account Budget 10 8. Balance Sheet Budget 10 Conclusion: 11 References: 13 Introduction: Budgeting is a process that is necessary not only for planning but also for controlling. It plays a major role in the management of any organization. Basically, budgeting is the key point of planning. And without budget, controlling of an organization is not possible. This assignment is emphasized different important tools regarding budgeting. And lastly a budget is given. Question-1 Budgeting: Budgeting is a process that is necessary not only for planning but also for controlling. Basically budgeting is an expression with quantitative numbers that can be said as a proposed plan of action that will be taken by management. It is may be for a specified period or for a specific task. It acts like a coordinating aid i.e. what will have to be done while implementing a plan. The available information’s in an industry are used to develop a budget. This information’s include past financial and nonfinancial information routinely recorded in...
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...spending habits, areas that are not looked at enough, and if there are needs for a larger emergency fund. The reality of personal budgeting is that many people potentially do not keep a personal budget for one reason or another. People also don’t consider the negative effect that it could have on one personally and or how it effects the economy. One major reason that an individual does not keep a personal budget would be the lack of knowledge on how to possess a successful budget of their finances. An individual may not know how to properly construct a budget that will help them become financially savvy. The client could be unaware of how to make a budget balance, how to correctly allocate funds, or even which areas are really the important factors. Excel is a great tool for budgeting if you can utilize the application. But if one does not know how to distribute their funds properly, you could come up short when needing money for bill or to fill your gas tank up to get to work to make an income, which turns into a vicious cycle. This lack of information and know how could deter someone from even thinking about budgeting. Not only is lack of knowledge a serious factor, a person could make more money than their lives require. This can lead to thoughts of not needing a personal budget because of feelings of security. These false intonations could feasibly lead to disaster later in life. No one knows when an unexpected emergency will occur a person could be making plenty of money...
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...Student Name: katie Student ID: c356109 Group: Date: Assessment Coding Assessment of this program of study is based on competency based principles. S = Satisfactory NS = Not Satisfactory Students who fail to perform satisfactorily for the assessment in the prescribed date may be assessed as ‘not satisfactory’. You are required to be assessed as ‘Satisfactory’ against specific performance criteria in all elements of the unit of competency including satisfactory completion of Assessments as assigned by your assessor/s for this unit of competency. Re-assessment Any re-assessment is conducted as soon as practicable after you have been informed of the requirement to be re-assessed and have been given the opportunity to be re-trained and assimilate the training. You are re-assessed in only the areas assessed NS and re-assessment is made under the same conditions as the original assessment. It is at the assessor/s discretion to re-assess the entire assessment should it be demonstrated an overall understanding of this unit has not been achieved. Students that are assessed “satisfactory” after re-assessment of areas deemed NS will achieve competency for this assignment. | Student Signature: | Date: ______ | | Assessor use only | Assessor Comment/Feedback: ____________ _____ _____ _____ _____Assessor Name: ____________________________ Assessor Signature: _______________________________Date:...
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...and budgeting plans to ensure equitable provision of health evidence-based tasks. World Health Organization uses a resources planning, and budgetary framework to plan for the financial resources and expenditures. Budgetary plans for WHO follow medium, short, or long-term strategic financial plans and budgets covering the year plan activities. The Sixty-sixth World Health Assembly (2013) outlines the budget making step-by-step process of World Health Organization, which begins with approval of the period’s work, approval of the budget plan for work, and allocation of the approved budget to the key categories in its plan. The fourth step of the budgetary process involves resolving the budget through a comparison of the expected income and contributions with the organization’s task plan. The step that follows ensures the writing of the correct gross amount in the budget after the tax, after which the budget is approved assessing the amount available for the organization. This is then authorized through making budget a percentage transfer to the planned task. The last authorization assesses the validity of the budget by evaluating the expenditures for emergencies, after which the budget reports are submitted for implementation. Budgeting is an indispensable framework for improved result-based management as well as accountability platform...
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