ipl-logo

The Components Of A Comprehensive Budget And What Is The Purpose Of Each Component?

528 Words3 Pages

Budgets
a. What financial tools described in this chapter can help you make better financial decisions? In this week’s chapter we have learned primarily about budgets, how they work, and how to make and use them. The main types of budgets are the operating budget, the capital budget, the comprehensive budget, the specialized budget, the tax budget, and the cash flow budget.
All of the financial tools we read about in this chapter could assist in making financial decisions. Creating budgets requires that you analyze your financial situation, your needs, your past financial history and your tendencies. Thinking that much about your financial situation will help you make better financial decisions just by knowing that information better. Budgets also …show more content…

b. What are the components of a comprehensive budget and what is the purpose of each component?
A comprehensive budget is created by combining two types of budgets. The first is the operational budget which consists of recurring income and expenses. The textbook (Siegel, R., and Yacht, C.,) gives examples of recurring expenses as loan payments, living expenses, saving and investment deposits (p. 92). The second budget is the capital budget, which in contrast to the operational budget consists of non-recurring incomes and expenses. The textbook (Siegel, R., and Yacht, C.,) gives the examples of capital expenditures and purchases of durable items as examples of non-recurring items (p. 92). The purpose of combining the operational and capital budgets into one budget is to make the comprehensive budget as complete as possible (thus the name comprehensive). The comprehensive budget is meant to represent both the long and short term and to give a broad overview. In my comprehensive budget I have an operational budget which includes items like rent, giving, and saving. I also have a capital budget that includes stocks and bonds.
c. How are specialized budgets prepared? What is the relationship of

Show More
Related

East Carolina Budget Case Study

1086 Words | 5 Pages

It is difficult to categorized budgeting in simple basic phases since with budgeting there can be many sub-phases as well. When dealing with a university one must keep in mind that a university provides more services than actual tangible goods. However, we could outline a high-level budget into three basic phases, which could later break up into larger or smaller sub-phases. First would be labor cost, which would include any cost of staffing. This includes all higher-education staff and campus grounds maintenance.

Read More

Marge Cox: Executive Summary

499 Words | 2 Pages

First of all, making a budget helps administrators know how much money they will spend for school’s needs. Creating the budget is a good way to develop a school’s financial management because administrators have a plan in their minds. In other words, administrators know the range of expenses. Secondly, Marge Cox proclaims the necessity of collaboration with others. Christian traditional education clarifies that administrators need to establish a good relationship with others.

Read More

California Budget Process

697 Words | 3 Pages

Within the department, the budget process involves the planning and analyzing formation. The department searches and examines the issues occurring and inputs them into the budget. The DDS has included issues of local assistance to regional centers at the department level. The central budget office prepares its initial recommendations to the department level, and later modifies the budget based on the department head’s decision. Central budget office determines and creates estimations based on revenues.

Read More

DEA Budget Essay

959 Words | 4 Pages

The Drug Enforcement Administration is one of the most important enforcement programs in the United States. They can work either in the US or in foreign lands. As illegal substances try to make their way into the country the Drug Enforcement Administration mission and job is to enforce regulations and laws in order to control the amount of drug entering the country. Recently drug cartels begin to increase their production of illegal substances causing a slight increase in drug trafficking as well. The Drug Enforcement Administration must be quick in thinking , quick in action, and never let their guard down.

Read More

Congressional Budget Office Analysis

505 Words | 3 Pages

The purpose of the Congressional Budget Office, also known as CBO, is to analyze the budget and the economy for Congress. It is a nonbiased group that was created by congress. They do not enforce budget rules or write bills, they are strictly an analytical group. There are many things that the Congressional Budget Office is in charge of. Some of those duties are to determine cost estimates for individual bills.

Read More

Budget Analysis: Peyton Approved

1488 Words | 6 Pages

The purpose of this Budget Analysis report is to sit down with the budget and review it in detail. The analysis helps a company such as Peyton Approved understand how their money is being spent, managed, and if the budget is meeting the company’s goals. Overall, the budget helps companies organize their finances. Throughout this report, the budget process will be discussed. This is a way that a company will go about building their budget.

Read More

Harley Davidson Case Study Solution

813 Words | 4 Pages

Solution : Introduction: A budget is an estimation of particular commodity, quantity etc. It can be prepared for any number of days but generally it is prepared wither for a year or quarter... A budget may or may not become the actual outcome.

Read More

Project Eve Money: How To Buy Junk Cars For Your Investment

1441 Words | 6 Pages

Besides the budget, then you must set up a reserve fund for the cost of repair of your junk

Read More

Budget Beauty Executive Summary

874 Words | 4 Pages

You are working for an Cosmetic line named Budget Beauty, and they mainly produce foundations ( things like liquid foundation, sheer foundation and stick foundation) . The company is faced with high end competitor. The company is looking for a different market approach because many of the high-end brands don't market to the diverse skin tones of women or men. The company has a reputation of being very affordable and has a large presence in marketing communication and over the past two years had a established sales in the retail market. During the course of the year the board of directors and senior executives had several issues over the past two years.

Read More

What Is Americold's Budget Structure

1094 Words | 5 Pages

Management interview Future growth is the key essential reason for many companies, learning and meeting the company’s short-term and long-term financial goals is key. Americold is no different; Americold Logistics is a large company that has more than 165 locations in six countries. Americold is the global leader in temperature controlled warehousing and logistics to the food industry. Americold is the top in its class, catering for many food industries, Americold hauls nearly 95,000 truckloads of freight annually. On November 7, 2016, I took a deeper look into Americold Logistics management team and their financial structure, by interviewing Americold East coast operations manager, Office manager, and their General management.

Read More

Economic Decision Making: Christian V/S A Non-Christian

541 Words | 3 Pages

Budget constraints can influence almost all economic decisions. This is because the total of all cost should not exceed a company capital. The disposal of cash is typically not an issue in economic decision because the availability of credit allows individuals to spend more than they actually have. Cost and benefits are two additional factors that must be taken in consideration when making economic decisions. Christian v/s a Non-

Read More

Budget Deficit Analysis

825 Words | 4 Pages

The federal government 's budget shows the relationship between its expenditures and its tax revenue. During a recession, the federal budget tends to be more in a deficit, and the opposite is true during goods economic times, as the deficit tends to be smaller, or moves to a surplus. To say that the federal government should never run a deficit, and that a law should be enacted to state this is ludicrous. What makes the statement ludicrous is the fact that during a recession, not running a budget deficit is impossible, and that the government doesn 't have to think about, or take any deliberate action to enter a deficit during a mild recession. Automatic budget deficits can arguably benefit the economy more than an automatic budget surplus,

Read More

User Friendly Budgets

994 Words | 4 Pages

In determining whether or not user-friendly budgets are having an impact on citizen participation in local governments it is necessary to conduct a survey. This survey will consist of several different questions. The questions will examine the overall effectiveness of the user-friendly budget document. The main object of the survey is to see if user-friendly budgets are influencing citizen participation in local government. In order to better understand the influence of user-friendly budgets and how it relates to citizen participation it is best to conduct a survey of those participating in local government meetings.

Read More

Personal Narrative: My Immigration To My Personal Character

536 Words | 3 Pages

To deal with this problem, I decide to help my dad to create the budget plan. Every month, I decided an amount to save and spend. This shaped me to be a manageable and a mature person, because I started managing my family. I knew how to spend and save the money at the same time with a small

Read More

Teaching Your Children The Building Blocks Of Budgeting

718 Words | 3 Pages

I later learned that other people and students have the same problem of being financially literate. As a child, I did not learn how to budget, but as an adult I can. There are various ways to help learn how to budget by looking up articles or simply communicating with parents about how budgeting is done. It is never too late to learn how to

Read More

More about The Components Of A Comprehensive Budget And What Is The Purpose Of Each Component?

Related Topics

Open Document