Static and flexible budgets are district funds performed in business.The static budgets are prepared at the beginning of the period in which it is a budget does not change, unlike a flexible budget that changes as volume changes. Static budgets are established for a meticulous activity to compare the outcomes with the accounted profits and costs (Grand Canyon University). A flexible budget is made from fixed in which it remain the same except for the variable cost in which it will change the total.
The static budget could be more useful for insurances companies when contractors provide them with an estimate. For instance, a restoration company handles a water loss for one of the policy holder for the insurance. The restoration company will include the remediation, hygienist, and cleaning in their proposal for $5,000. The insurances agree and pay them-them $5,000 and there done with the case. Now, the restoration runs into a problem in which they discovered mold and will have to pay that out a pocket. The static budget is not recommending for a restoration company because they can run into many other problems. If they have a flexible budget, then they make a change work order
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Budgeting allows investors and banks to know that company is responsible with the money that goes in and out to determine their future. Also, budgeting allows a company to expand or create more businesses. My boss started his business as a mom and pop shop as a cleaning company Last year, he opened the restoration company, and this year he opens the cleaning supplies store and in the next month a window cleaning company. All his business relates to one another, but the overall success of his companies has known how to budget his expenses and profits. By budgeting, it has allowed him to continue investing in other ventures and secure his kids
A budget is essential for a company to succeed. Without these budgets, it is very hard to be able to see where all
For example interest rates, the cost of raw materials including fuel, the number of sales or orders that we make and in turn all of these rely on other factors. The best therefore that can be done when developing a budget is to look at all the factors that are likely to affect the budget and decide how to take account of each one. If there is a previous budget (last year or last month) then it is sensible to look at how this has been achieved or not as the case may be, and what factors affected the outcome. If we are looking at monthly budgets it might be a better comparison to look at the same month twelve months ago as well as the previous months. The more factors we take into consideration when estimating a budget, the more accurate our budget will be.
There are many uses of a budget that are used in within a business. The term budget means a financial plan. There are many types of budgets that a business would use, for example, a business would have one budget for production of a product and another budget for marketing. The uses of a budget help to control expenses and for the company to monitor what the budget is being spent on. If there is a set budget price being given this allows the business to be able to plan with how they are going to use the budget, by doing this they will be able to keep within the budget.
Static Budget is a budget that never changes, even if the activity level changes. However, the Flexible Budget changes based on actual activity. The flexible budget is more accurate than the static budget because budget amounts change for changes in activity.
The healthcare system should be fully aware and educated on the increasing population rate that is rating at a very fast pace. Therefore, the organizations should create a medical financial budget that is always flexible. Flexible budgets permit the organizations to adjust their budget for modifications within their work setting. Also, a flexible budget allows the business to have a way out (Davoren, 2016). Also, the health care organization should have enough staff on board who can always work anytime and go to any location to work such as rural areas where the greater portion of the elderly population who demands more medical attention lives (Meeting the Primary Care Needs of Rural America: Examining the Role of Non-Physician Providers, 2016).
Today King Tutankhamun, died in his early 10s. King Tutankhamen (also known as boy king), reigned the Egyptian colony for 9 years. King Tut was suffering from genetic deficiencies but mostly he might of died from a broken leg, it isn't confirmed though. His golden coffin is now buried in a tomb in the Valley Of The Kings, surrounded by 5000 priceless treasures. These treasures include a golden throne, crown and cobra, pottery and big chests. Along with a golden burial mask, King Tut’s sandals are inside the tomb.
An FSA or Flexible Spending Account is a beneficial health plan through an occupation. FSA is money that is set aside for out of pocket health maintenance expenditures. Prescription's, Dental, and Eye Wear are three of the allowed expenses of the FSA. There are a few more expenses that are covered with FSA but those three are the most common. FSA can cover medication a prescription medications and over the counter. Insulin is a good example of the kind of medications that can be bought with FSA funds it does not require a prescription. For dental it is teeth cleaning, sealants, and fluoride. For eyes they have many expenses eyeglasses, lenses or even exams for medical expenses. They can even include eye surgeries such as laser eye surgery.
Perseverance is generally known as an admirable trait that has helped peasants become kings, and the weak transform into stronger images of themselves. It is a value that is often strived for, but in Tom Benecke’s case, it almost brought his death. Tom persevered when working on a small sheet of yellow paper that contained innumerable chicken-scratch figures and words. He hoped to slowly be recognized at his job by tirelessly completing extra tasks and jobs that would ultimately lead to his promotion.
The budget project helped me mainly to budget my money, and to help me get a job, that pays good money in the future. I want a good paying job so I can help my family with what they need. That’s the budget project helps me. It also helps me with my money and my finances. I really like this project.
A company's budget serves as a guideline in planning and committing costs in order to meet tactical and strategic goals. Tactical goals such as providing budgetary costs for daily operations, and strategic objectives that include R&D, production, marketing, and distribution are all part of the budgeting process. Serving as a guideline rather than being set in stone, the budget is a snapshot of manager's "best thinking at the time it is prepared." (Marshall, 2003, p.496) The budget is a method in which to reign-in discretionary spending, and will likely show variances between what costs have been anticipated and what costs are actually incurred.
In 1996 the city of Cleveland began a $750 million Plant Enhancement Program. The program’s goal was to renovate and modernize the city’s four water treatment facilities, which are among the 10 largest in the US, and were built in 1856; over 500 million gallons of water are pumped to Cleveland residents daily. In the following paper I attempt to provide with an overview of the Baldwin
Well Juror #3 talked about his own son that we see the true reason for his bias against the boy. During the trial, Juror 3 talks about how he once saw his own son run away from a fight. I remember him saying " I told him (his son) right out," I'm going bust you up into little pieces for trying." When his son was 15 he him on the face. Which clears how that this guy has huge problems with kids not respecting their father. In my understanding each Juror brings their own life problems into that jury room. We can't control our emotions, we all are human and it's normal to express feelings. One juror was hurting badly leading him to act that way. He misses his son and is very disappointed in his son for such high disrespect towards his father.
In conclusion, every major company in the world uses budgeting and there is a good reason for that. It is an important component of financial success. Budgeting makes easier to achieve financial goals. It keeps track of all expenses and help to avoid crisis. It also helps companies to control their growth and provide them with realistic idea where business is going.
Budgeting is the systematic method of allocating financial, physical, and human resources to achieve an organization’s strategic goals. Budgets are utilized by for-profit and non-profit organizations to monitor the progress towards the goals, assist in the control of spending, and help predict cash flow for the organization.
This research paper is a brief discussion of budget management analysis. Budgeting is the key to financial management, and is the key to translates an organization goals or plan into money. Budgeting is a rough estimate of how much a company will need to get their work done, and provides the basis for evaluating performance, a source of motivation, coordinating business activities, a tool for management communication and instructions to employees. Without a budget an organization would be like a driver, driving blinded without instructions or any sense of direction, that’s how important a budget is to every organization and individual likewise (Clark, 2005).