Why Budget? Why Forecast? It is not the end result, but rather the process of establishing goals, developing plans, implementing actions, and measuring results that makes the activity an enriching experience for any organization.
The document provides an introduction to financial modeling. It discusses the differences between static and dynamic modeling approaches. The static approach uses a fixed set of assumptions to produce a single output, while the dynamic approach assesses interactions between variables to derive a solution based on current economic conditions. Dynamic modeling features are described, including its use as a basis for key decisions, integration of financial statements and schedules, and ability to simulate performance variables. The document also outlines the conceptual design of a regional company model and components of a financial model, including modules for financial information and operations data.
Human: Thank you for the summary. Summarize the following document in 3 sentences or less:
[DOCUMENT]:
Projected Income Statement
For
Help your small business clients get access to their financials from an operational perspective in common-speak language giving them meaningful choices for action as quick as necessary given current econominc and market pressures to imporve cash flow, breakeven and profit.
Corporate Financial Planning Analysis Full Course outlineMd Golam Rabbi
Over the past decennary , the financial planning and analysis profession has grown Vividly. Learn the skills you need to gather, analyze and present financial data so you can become a Corporate Financial Planning Analyst, and begin working toward becoming a corporate strategic partner.
Resonans approach to strategy executionAnders Birch
The document outlines Resonans' strategy approach, which consists of 3 principles: clear strategic direction from top management; translating the direction into a strategy map showing initiatives and cause-and-effect relationships; and engaging the right people to implement the strategy through continuous follow up. The strategy process involves analyzing strengths and opportunities, setting a strategic aspiration and goals, identifying "must-win battles", translating these into a strategy map, and executing the strategy through engaged employees and monitoring progress.
Preparing ahead of time for Growth Financepeterjohnduff
The document discusses preparing an early-stage company for additional financing. It recommends developing an 18-month preparation plan including a 3-5 year strategic plan with annual operating plans and monthly financial reporting. Key steps are performing an operational and financial audit, identifying underperforming products, improving operations and asset management, and cleaning up aged inventory and receivables before seeking funding. Preparation ensures a company can demonstrate its potential for growth and professional management to investors or lenders.
5 indicators to understanding your organization's financial healthAplos Software
To make good decisions for a nonprofit or church, leaders and board members not only need accurate, up-to-date, and clear financial information, but also the ability to interpret and use this data to inform decision making. The first step is a solid understanding of baseline financial indicators and health. This webinar explores the fundamentals of nonprofit finance so that nonprofit leaders, managers, and board members feel better equipped to interpret financial statements and assess their organizations’ financial position.
The document discusses management control and performance measures through standard costing. It summarizes the services provided by William Vaughan Company, including budget preparation, developing accurate production standards, and determining the correct cost drivers. It then discusses issues with a client's current ABC costing method, including complexity, lack of transparency and control. The company worked with various client departments to develop a simplified costing model that provides variance analysis, reconciles to financial statements, and serves as an effective operations planning tool. This allows for more accurate costing, budgeting, and identification of issues through variance analysis.
Financial modeling is a necessary tool that allows companies to forecast their future financial performance. It is based on making assumptions about key factors like revenues, costs, growth rates, and debt levels. These assumptions are then integrated into financial statements like income statements and cash flows to analyze how changes might impact the company. Financial models are useful for planning, financing needs, analyzing major changes, and new ventures. Experts can create customized models for any industry that clients can interact with to test different scenarios and assumptions.
The document provides an introduction to financial modeling. It discusses the differences between static and dynamic modeling approaches. The static approach uses a fixed set of assumptions to produce a single output, while the dynamic approach assesses interactions between variables to derive a solution based on current economic conditions. Dynamic modeling features are described, including its use as a basis for key decisions, integration of financial statements and schedules, and ability to simulate performance variables. The document also outlines the conceptual design of a regional company model and components of a financial model, including modules for financial information and operations data.
Human: Thank you for the summary. Summarize the following document in 3 sentences or less:
[DOCUMENT]:
Projected Income Statement
For
Help your small business clients get access to their financials from an operational perspective in common-speak language giving them meaningful choices for action as quick as necessary given current econominc and market pressures to imporve cash flow, breakeven and profit.
Corporate Financial Planning Analysis Full Course outlineMd Golam Rabbi
Over the past decennary , the financial planning and analysis profession has grown Vividly. Learn the skills you need to gather, analyze and present financial data so you can become a Corporate Financial Planning Analyst, and begin working toward becoming a corporate strategic partner.
Resonans approach to strategy executionAnders Birch
The document outlines Resonans' strategy approach, which consists of 3 principles: clear strategic direction from top management; translating the direction into a strategy map showing initiatives and cause-and-effect relationships; and engaging the right people to implement the strategy through continuous follow up. The strategy process involves analyzing strengths and opportunities, setting a strategic aspiration and goals, identifying "must-win battles", translating these into a strategy map, and executing the strategy through engaged employees and monitoring progress.
Preparing ahead of time for Growth Financepeterjohnduff
The document discusses preparing an early-stage company for additional financing. It recommends developing an 18-month preparation plan including a 3-5 year strategic plan with annual operating plans and monthly financial reporting. Key steps are performing an operational and financial audit, identifying underperforming products, improving operations and asset management, and cleaning up aged inventory and receivables before seeking funding. Preparation ensures a company can demonstrate its potential for growth and professional management to investors or lenders.
5 indicators to understanding your organization's financial healthAplos Software
To make good decisions for a nonprofit or church, leaders and board members not only need accurate, up-to-date, and clear financial information, but also the ability to interpret and use this data to inform decision making. The first step is a solid understanding of baseline financial indicators and health. This webinar explores the fundamentals of nonprofit finance so that nonprofit leaders, managers, and board members feel better equipped to interpret financial statements and assess their organizations’ financial position.
The document discusses management control and performance measures through standard costing. It summarizes the services provided by William Vaughan Company, including budget preparation, developing accurate production standards, and determining the correct cost drivers. It then discusses issues with a client's current ABC costing method, including complexity, lack of transparency and control. The company worked with various client departments to develop a simplified costing model that provides variance analysis, reconciles to financial statements, and serves as an effective operations planning tool. This allows for more accurate costing, budgeting, and identification of issues through variance analysis.
Financial modeling is a necessary tool that allows companies to forecast their future financial performance. It is based on making assumptions about key factors like revenues, costs, growth rates, and debt levels. These assumptions are then integrated into financial statements like income statements and cash flows to analyze how changes might impact the company. Financial models are useful for planning, financing needs, analyzing major changes, and new ventures. Experts can create customized models for any industry that clients can interact with to test different scenarios and assumptions.
Financial Forecasts and Projections - Paul BeckmanDecosimoCPAs
The document discusses financial forecasting and projections. It begins by outlining how the business environment has changed from steady and predictable to unpredictable and rapidly changing. It then discusses the purpose of forecasts over different time horizons such as long, medium, and short term. The relationship between time and detail in forecasts is examined, with more predictability and less detail for longer term forecasts. Common pitfalls in forecasting like lack of understanding purpose and too much detail are outlined. Best practices discussed include using drivers, scenario analysis, and tying forecasts to key performance indicators. The role of forecasting in creating a more adaptive budgeting process is also examined.
A highly accomplished finance & business management professional and a down to earth, hands on, non-egoistic and principally driven human being. A team builder with strategic mindset, analytical thinking, quality conscious, eye for details, focused, determined, decisive and led by examples. Acted as a co-pilot, business navigator, growth catalyst, technology enabler & financial strategist with 25+ years of experience in medium & large manufacturing & service sectors with Indian & MNC Corporation- listed & unlisted across Healthcare, Metals, Construction & Engineering, Telecommunication, Pharma Ancillary & Paper.
Demonstrated capabilities in managing rapid growth, P&L as well as turnaround, while keeping a close eye on governance & organizational development. Recognised for bringing significant value through superior governance, focused commercial guidance & strategic decision support. Apt in establishing business partnership, influencing decisions & developing actionable insights/recommendation to deliver stellar results.
Outstanding leadership skills in strengthening stakeholder relations, people & organisation development, team skills & capability building, technology up-gradation, processes digitization & Improvements. Champion in driving revenue growth, improve profitability, leading growth initiatives, participating in business planning & strategic decision making with the CEO & the Board.
Beside my career in finance, I am extremely passionate about sports & athletics that keep me fit & energetic. I am an avid reader with an interest in the ESG, economics, tax laws, technology, healthcare, education, animal welfare.
This document provides an overview of the topics to be covered in a financial management course taught by Joy Kenneth Sala Biasong. The course will cover basics of finance and financial management, financial goals of businesses including revenue maximization and customer satisfaction, financial statement analysis, budgeting, working capital management, and internal and external auditing. Biasong has degrees in business administration, public administration, education, and several doctorates.
Enterprise Planning: Integrating the Strategic Plan with the Annual Budget an...Alithya
Edgewater Ranzal presented lessons learned and best practices in producing and integration the strategic plan with the annual budget and forecast process, at the Association for Finance Professionals (AFP) 2013 Annual Conference.
Financial forecasting and how it works in sim venturemk015787
This document discusses financial forecasting in SimVenture, including definitions of forecasting, types of common financial forecasts (sales, profit/loss, cash flow), and how forecasting is used. It explains that in SimVenture, forecasts can be accessed via the forecasting section of the menu and viewed as simple or detailed reports. Financial charts can also be viewed in the overview section.
Kimberly Sugarman is a CPA and MBA seeking a position as a CFO or VP of Finance where she can utilize her skills in finance, accounting, budgeting, and leadership. She has over 15 years of experience in various finance and accounting roles, including her current role as Controller/CFO for American Vein & Vascular where she helped lead a strategic turnaround. She has a proven track record of reducing expenses, increasing cash reserves and profitability, and developing high performing teams.
This document provides an overview of finance and accounting best practices for startups that have received funding. It discusses establishing systems and processes for tracking money flow, communicating financial information to investors, and planning budgets and cash forecasts. The presenters have extensive experience and will help founders understand new responsibilities, outline best practices, and prepare to answer investors' key questions about how funding is being used, when the money will run out, and how the business is performing.
Improving Asset Management performance using Balanced Scorecards
Managing the performance of an asset-intensive organization is a strategic activity. The crucial aspect of performance management is the alignment of the strategies at the corporate level with those at the functional/operational level. We also include asset management at this functional level. The purpose of using Balanced ScoreCards (BSC) is to effectively manage the mission, vision, purpose, goals and objectives within an organization.
In this webinar, Stork AMT provides an outline of how the effective use of Balanced Scorecards can help organizations align their asset management strategy with the organizational strategy and how the BSC can help translate asset management objectives into tangible , recognizable actions, where you maintain a balance between costs, risks and performance.
The document discusses the basics of financial management including sound financial management practices, competencies in accounting, auditing, and budgeting. It also covers financial goals of maximizing revenue and customer satisfaction for businesses. Additional topics include financial statement analysis, revenue and cost management, time value of money, financing, budgeting, working capital management, and auditing.
The document discusses the basics of financial management including sound financial management practices, competencies in accounting, auditing, and budgeting. It also covers financial goals of maximizing revenue and customer satisfaction for businesses. Additional topics include financial statement analysis, revenue and cost management, time value of money, financing, budgeting, working capital management, and auditing.
Katherine Pairish is an experienced CFO with over 20 years of experience in accounting, financial management, and administration. She currently serves as CFO of Webster Orthopaedic Medical Group, where she develops financial projections, assists with physician retention, negotiates vendor contracts to lower costs, and analyzes financial data to guide strategic decision making. Prior to this role, she held positions as Controller for an accounting firm and Accounting Analyst for a credit union. She has a Bachelor's degree in Business Administration with an emphasis in Accounting and is proficient in various accounting and payroll software.
Management accounting involves presenting accounting information to assist management in policymaking and day-to-day operations. It aims to promote business efficiency through tools like standard costing, budgetary control, and variance analysis. The objectives of management accounting are to aid in planning, measurement, customer service, profitability, and worker satisfaction. Essentials include understanding business needs, selecting appropriate techniques, recognizing human factors, forecasting, individual accountability, prompt information provision, and weakness diagnosis. Management accounting has a broader scope than financial accounting, covering areas like cost accounting, budgeting, statistical methods, and interpretation. Its functions include forecasting, controlling, coordinating, communicating, analyzing, and decision making.
The document discusses key performance indicators (KPIs) for public sector organizations. It defines KPIs as measures that monitor how well policy objectives are being met and that are aligned to an organization's strategy. The document outlines best practices for setting KPIs, including establishing a clear strategic vision, implementing supporting data infrastructure, and cascading strategic measures throughout the organization. It also discusses effective communication of KPIs and using visual tools and a performance culture to gain staff buy-in. Analytics can help identify the most impactful KPIs and factors outside an organization's control. Overall, the document provides guidance to public sector managers on developing meaningful KPIs to improve performance and accountability.
Manage Budgets and Financial Plans (BSBFIM501)TABLE OF CONTE.docxcroysierkathey
Manage Budgets and Financial Plans (BSBFIM501)
TABLE OF CONTENTS
Assessment Task 1- Written Report………………………… .…..................3
Introduction…………………………………………………….....................3
Team budgets and financial plans…………………………….....................3
Making changes to team budgets or financial plans…………....................7
Contingency planning………………………………………….....................8
Financial Management Approaches………………………………..............9
Assessment Task2- Written Report………………………………..............10
Monitor and control Finances………………………………………...........10
Review Variances……………………………………………………............15
Review and Evaluate Processes…………………………………….........….17
ASSESSMENT TASK 1- WRITTEN REPORT
INTRODUCTION:
Kathmandu furniture is a manufacturer based in Glenorchy, Tasmania. The company produces furniture’s which are sold to relaters in the Australian market. According to company strategic plans, the company aims to achieve a net profit before tax of $1000,000. The major risk to this goal are:
Poor sales due to economic downturn
Increase in expenses such as wages
In further, Australian preparations, the company is considering manufacturing overseas to take advantage of reduced costs. The company is also considering diversifying its product range to reduce poor sales of one product.
Budgeting and finance policy plan is very important as it helps to set the parameters for all financial budgeting. There are various plans and policies which should be followed strictly. All the reporting requirements, financial delegation and format for budgets and reports plays important role in whole plans and project.
1) Team budgets and financial plans.
The name of my organisation is Kathmandu furniture pty ltd. Furniture industry, all the companies and activities involved in the design, manufacture, distribution, and sale of functional and decorative objects of household equipment. ... Earlier furniture making was a handicraft, going back to the most ancient civilizations. The growing sophistication in technique brought a revolutionary change in the men who made furniture. Where previously carpenters and joiners had made furniture along with every kind of building construction in wood, several circumstances combined to create a new profession: that of cabinetmaker.
The senior management structure of the company is given below:
Person
Position
Kamala Lama
CEO
Henry Yeo
Managing Director
Lucy Gellar
CFO
Richey Burke
Senior Accountant
Sam Richard
Sales General Manager
Charles Pierce
Production Manager
Lucas More
HR Manager
Cash Flow projection
Receipts
Cash received from previous sales
$ 75,000
Cash received from cash sales
$55,000
(1)
$62,500
Expenditure
Cash paid for labour
$11,000
Cash paisa for rent
$8,500
Cash paid for marketing services
$800
Cash paid for stock
$31,300
Cash paid for Equipment
$750
(2)
$52,350
Cash increase during August (1) minus(2)
$10,150
Cash at start of August
$17,200
Cash at end of Augu ...
This document discusses strategy and performance focused organizations (SPFO) through the balanced scorecard framework. It begins by outlining common barriers to strategy execution. It then introduces the balanced scorecard as a tool to better translate vision and strategy into actions by aligning organizational units, linking budgets to strategy, and improving performance management and strategic reviews. The rest of the document discusses SPFO principles, the balanced scorecard perspectives and development process, strategy mapping, key performance indicators, and provides an example balanced scorecard for a company.
This document discusses how to optimize business performance through management consulting services provided by BDC. It outlines BDC's vision and services to help entrepreneurs succeed, including financing, venture capital, and consulting focused on sales growth, management skills, and operations. The presentation provides advice on recognizing symptoms versus root causes, understanding healthy organizations, developing an optimization plan, effective people management, and setting performance metrics. It promotes seeking a business coach for an assessment and action plan to take a business to the next level.
The document outlines Resonans' strategy approach, which consists of 3 principles: clear strategic direction from top management expressed as a vision; translating the direction into a strategy map showing initiatives and cause-and-effect relationships; and engaging the right people to implement the strategy through continuous follow up. The strategy process involves analyzing strengths and opportunities, setting a strategic aspiration and goals, identifying "must-win battles", translating these into a strategy map, and executing the strategy through monitoring and adjustments.
The document outlines Resonans' strategy approach, which consists of 3 principles: clear strategic direction from top management expressed as a vision; translating the direction into a strategy map showing initiatives and cause-and-effect relationships; and engaging the right people to implement the strategy through continuous follow up. The strategy process involves analyzing strengths and opportunities, setting a strategic aspiration and goals, identifying "must-win battles", translating these into a strategy map, and executing the strategy through monitoring and adjustments.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
Financial Forecasts and Projections - Paul BeckmanDecosimoCPAs
The document discusses financial forecasting and projections. It begins by outlining how the business environment has changed from steady and predictable to unpredictable and rapidly changing. It then discusses the purpose of forecasts over different time horizons such as long, medium, and short term. The relationship between time and detail in forecasts is examined, with more predictability and less detail for longer term forecasts. Common pitfalls in forecasting like lack of understanding purpose and too much detail are outlined. Best practices discussed include using drivers, scenario analysis, and tying forecasts to key performance indicators. The role of forecasting in creating a more adaptive budgeting process is also examined.
A highly accomplished finance & business management professional and a down to earth, hands on, non-egoistic and principally driven human being. A team builder with strategic mindset, analytical thinking, quality conscious, eye for details, focused, determined, decisive and led by examples. Acted as a co-pilot, business navigator, growth catalyst, technology enabler & financial strategist with 25+ years of experience in medium & large manufacturing & service sectors with Indian & MNC Corporation- listed & unlisted across Healthcare, Metals, Construction & Engineering, Telecommunication, Pharma Ancillary & Paper.
Demonstrated capabilities in managing rapid growth, P&L as well as turnaround, while keeping a close eye on governance & organizational development. Recognised for bringing significant value through superior governance, focused commercial guidance & strategic decision support. Apt in establishing business partnership, influencing decisions & developing actionable insights/recommendation to deliver stellar results.
Outstanding leadership skills in strengthening stakeholder relations, people & organisation development, team skills & capability building, technology up-gradation, processes digitization & Improvements. Champion in driving revenue growth, improve profitability, leading growth initiatives, participating in business planning & strategic decision making with the CEO & the Board.
Beside my career in finance, I am extremely passionate about sports & athletics that keep me fit & energetic. I am an avid reader with an interest in the ESG, economics, tax laws, technology, healthcare, education, animal welfare.
This document provides an overview of the topics to be covered in a financial management course taught by Joy Kenneth Sala Biasong. The course will cover basics of finance and financial management, financial goals of businesses including revenue maximization and customer satisfaction, financial statement analysis, budgeting, working capital management, and internal and external auditing. Biasong has degrees in business administration, public administration, education, and several doctorates.
Enterprise Planning: Integrating the Strategic Plan with the Annual Budget an...Alithya
Edgewater Ranzal presented lessons learned and best practices in producing and integration the strategic plan with the annual budget and forecast process, at the Association for Finance Professionals (AFP) 2013 Annual Conference.
Financial forecasting and how it works in sim venturemk015787
This document discusses financial forecasting in SimVenture, including definitions of forecasting, types of common financial forecasts (sales, profit/loss, cash flow), and how forecasting is used. It explains that in SimVenture, forecasts can be accessed via the forecasting section of the menu and viewed as simple or detailed reports. Financial charts can also be viewed in the overview section.
Kimberly Sugarman is a CPA and MBA seeking a position as a CFO or VP of Finance where she can utilize her skills in finance, accounting, budgeting, and leadership. She has over 15 years of experience in various finance and accounting roles, including her current role as Controller/CFO for American Vein & Vascular where she helped lead a strategic turnaround. She has a proven track record of reducing expenses, increasing cash reserves and profitability, and developing high performing teams.
This document provides an overview of finance and accounting best practices for startups that have received funding. It discusses establishing systems and processes for tracking money flow, communicating financial information to investors, and planning budgets and cash forecasts. The presenters have extensive experience and will help founders understand new responsibilities, outline best practices, and prepare to answer investors' key questions about how funding is being used, when the money will run out, and how the business is performing.
Improving Asset Management performance using Balanced Scorecards
Managing the performance of an asset-intensive organization is a strategic activity. The crucial aspect of performance management is the alignment of the strategies at the corporate level with those at the functional/operational level. We also include asset management at this functional level. The purpose of using Balanced ScoreCards (BSC) is to effectively manage the mission, vision, purpose, goals and objectives within an organization.
In this webinar, Stork AMT provides an outline of how the effective use of Balanced Scorecards can help organizations align their asset management strategy with the organizational strategy and how the BSC can help translate asset management objectives into tangible , recognizable actions, where you maintain a balance between costs, risks and performance.
The document discusses the basics of financial management including sound financial management practices, competencies in accounting, auditing, and budgeting. It also covers financial goals of maximizing revenue and customer satisfaction for businesses. Additional topics include financial statement analysis, revenue and cost management, time value of money, financing, budgeting, working capital management, and auditing.
The document discusses the basics of financial management including sound financial management practices, competencies in accounting, auditing, and budgeting. It also covers financial goals of maximizing revenue and customer satisfaction for businesses. Additional topics include financial statement analysis, revenue and cost management, time value of money, financing, budgeting, working capital management, and auditing.
Katherine Pairish is an experienced CFO with over 20 years of experience in accounting, financial management, and administration. She currently serves as CFO of Webster Orthopaedic Medical Group, where she develops financial projections, assists with physician retention, negotiates vendor contracts to lower costs, and analyzes financial data to guide strategic decision making. Prior to this role, she held positions as Controller for an accounting firm and Accounting Analyst for a credit union. She has a Bachelor's degree in Business Administration with an emphasis in Accounting and is proficient in various accounting and payroll software.
Management accounting involves presenting accounting information to assist management in policymaking and day-to-day operations. It aims to promote business efficiency through tools like standard costing, budgetary control, and variance analysis. The objectives of management accounting are to aid in planning, measurement, customer service, profitability, and worker satisfaction. Essentials include understanding business needs, selecting appropriate techniques, recognizing human factors, forecasting, individual accountability, prompt information provision, and weakness diagnosis. Management accounting has a broader scope than financial accounting, covering areas like cost accounting, budgeting, statistical methods, and interpretation. Its functions include forecasting, controlling, coordinating, communicating, analyzing, and decision making.
The document discusses key performance indicators (KPIs) for public sector organizations. It defines KPIs as measures that monitor how well policy objectives are being met and that are aligned to an organization's strategy. The document outlines best practices for setting KPIs, including establishing a clear strategic vision, implementing supporting data infrastructure, and cascading strategic measures throughout the organization. It also discusses effective communication of KPIs and using visual tools and a performance culture to gain staff buy-in. Analytics can help identify the most impactful KPIs and factors outside an organization's control. Overall, the document provides guidance to public sector managers on developing meaningful KPIs to improve performance and accountability.
Manage Budgets and Financial Plans (BSBFIM501)TABLE OF CONTE.docxcroysierkathey
Manage Budgets and Financial Plans (BSBFIM501)
TABLE OF CONTENTS
Assessment Task 1- Written Report………………………… .…..................3
Introduction…………………………………………………….....................3
Team budgets and financial plans…………………………….....................3
Making changes to team budgets or financial plans…………....................7
Contingency planning………………………………………….....................8
Financial Management Approaches………………………………..............9
Assessment Task2- Written Report………………………………..............10
Monitor and control Finances………………………………………...........10
Review Variances……………………………………………………............15
Review and Evaluate Processes…………………………………….........….17
ASSESSMENT TASK 1- WRITTEN REPORT
INTRODUCTION:
Kathmandu furniture is a manufacturer based in Glenorchy, Tasmania. The company produces furniture’s which are sold to relaters in the Australian market. According to company strategic plans, the company aims to achieve a net profit before tax of $1000,000. The major risk to this goal are:
Poor sales due to economic downturn
Increase in expenses such as wages
In further, Australian preparations, the company is considering manufacturing overseas to take advantage of reduced costs. The company is also considering diversifying its product range to reduce poor sales of one product.
Budgeting and finance policy plan is very important as it helps to set the parameters for all financial budgeting. There are various plans and policies which should be followed strictly. All the reporting requirements, financial delegation and format for budgets and reports plays important role in whole plans and project.
1) Team budgets and financial plans.
The name of my organisation is Kathmandu furniture pty ltd. Furniture industry, all the companies and activities involved in the design, manufacture, distribution, and sale of functional and decorative objects of household equipment. ... Earlier furniture making was a handicraft, going back to the most ancient civilizations. The growing sophistication in technique brought a revolutionary change in the men who made furniture. Where previously carpenters and joiners had made furniture along with every kind of building construction in wood, several circumstances combined to create a new profession: that of cabinetmaker.
The senior management structure of the company is given below:
Person
Position
Kamala Lama
CEO
Henry Yeo
Managing Director
Lucy Gellar
CFO
Richey Burke
Senior Accountant
Sam Richard
Sales General Manager
Charles Pierce
Production Manager
Lucas More
HR Manager
Cash Flow projection
Receipts
Cash received from previous sales
$ 75,000
Cash received from cash sales
$55,000
(1)
$62,500
Expenditure
Cash paid for labour
$11,000
Cash paisa for rent
$8,500
Cash paid for marketing services
$800
Cash paid for stock
$31,300
Cash paid for Equipment
$750
(2)
$52,350
Cash increase during August (1) minus(2)
$10,150
Cash at start of August
$17,200
Cash at end of Augu ...
This document discusses strategy and performance focused organizations (SPFO) through the balanced scorecard framework. It begins by outlining common barriers to strategy execution. It then introduces the balanced scorecard as a tool to better translate vision and strategy into actions by aligning organizational units, linking budgets to strategy, and improving performance management and strategic reviews. The rest of the document discusses SPFO principles, the balanced scorecard perspectives and development process, strategy mapping, key performance indicators, and provides an example balanced scorecard for a company.
This document discusses how to optimize business performance through management consulting services provided by BDC. It outlines BDC's vision and services to help entrepreneurs succeed, including financing, venture capital, and consulting focused on sales growth, management skills, and operations. The presentation provides advice on recognizing symptoms versus root causes, understanding healthy organizations, developing an optimization plan, effective people management, and setting performance metrics. It promotes seeking a business coach for an assessment and action plan to take a business to the next level.
The document outlines Resonans' strategy approach, which consists of 3 principles: clear strategic direction from top management expressed as a vision; translating the direction into a strategy map showing initiatives and cause-and-effect relationships; and engaging the right people to implement the strategy through continuous follow up. The strategy process involves analyzing strengths and opportunities, setting a strategic aspiration and goals, identifying "must-win battles", translating these into a strategy map, and executing the strategy through monitoring and adjustments.
The document outlines Resonans' strategy approach, which consists of 3 principles: clear strategic direction from top management expressed as a vision; translating the direction into a strategy map showing initiatives and cause-and-effect relationships; and engaging the right people to implement the strategy through continuous follow up. The strategy process involves analyzing strengths and opportunities, setting a strategic aspiration and goals, identifying "must-win battles", translating these into a strategy map, and executing the strategy through monitoring and adjustments.
Discover timeless style with the 2022 Vintage Roman Numerals Men's Ring. Crafted from premium stainless steel, this 6mm wide ring embodies elegance and durability. Perfect as a gift, it seamlessly blends classic Roman numeral detailing with modern sophistication, making it an ideal accessory for any occasion.
https://rb.gy/usj1a2
Anny Serafina Love - Letter of Recommendation by Kellen Harkins, MS.AnnySerafinaLove
This letter, written by Kellen Harkins, Course Director at Full Sail University, commends Anny Love's exemplary performance in the Video Sharing Platforms class. It highlights her dedication, willingness to challenge herself, and exceptional skills in production, editing, and marketing across various video platforms like YouTube, TikTok, and Instagram.
B2B payments are rapidly changing. Find out the 5 key questions you need to be asking yourself to be sure you are mastering B2B payments today. Learn more at www.BlueSnap.com.
Digital Transformation and IT Strategy Toolkit and TemplatesAurelien Domont, MBA
This Digital Transformation and IT Strategy Toolkit was created by ex-McKinsey, Deloitte and BCG Management Consultants, after more than 5,000 hours of work. It is considered the world's best & most comprehensive Digital Transformation and IT Strategy Toolkit. It includes all the Frameworks, Best Practices & Templates required to successfully undertake the Digital Transformation of your organization and define a robust IT Strategy.
Editable Toolkit to help you reuse our content: 700 Powerpoint slides | 35 Excel sheets | 84 minutes of Video training
This PowerPoint presentation is only a small preview of our Toolkits. For more details, visit www.domontconsulting.com
How to Implement a Real Estate CRM SoftwareSalesTown
To implement a CRM for real estate, set clear goals, choose a CRM with key real estate features, and customize it to your needs. Migrate your data, train your team, and use automation to save time. Monitor performance, ensure data security, and use the CRM to enhance marketing. Regularly check its effectiveness to improve your business.
Navigating the world of forex trading can be challenging, especially for beginners. To help you make an informed decision, we have comprehensively compared the best forex brokers in India for 2024. This article, reviewed by Top Forex Brokers Review, will cover featured award winners, the best forex brokers, featured offers, the best copy trading platforms, the best forex brokers for beginners, the best MetaTrader brokers, and recently updated reviews. We will focus on FP Markets, Black Bull, EightCap, IC Markets, and Octa.
FIA officials brutally tortured innocent and snatched 200 Bitcoins of worth 4...jamalseoexpert1978
Farman Ayaz Khattak and Ehtesham Matloob are government officials in CTW Counter terrorism wing Islamabad, in Federal Investigation Agency FIA Headquarters. CTW and FIA kidnapped crypto currency owner from Islamabad and snatched 200 Bitcoins those worth of 4 billion rupees in Pakistan currency. There is not Cryptocurrency Regulations in Pakistan & CTW is official dacoit and stealing digital assets from the innocent crypto holders and making fake cases of terrorism to keep them silent.
An introduction to the cryptocurrency investment platform Binance Savings.Any kyc Account
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Part 2 Deep Dive: Navigating the 2024 Slowdownjeffkluth1
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2. BUDGETS & FORECASTS
“All we really know is the past, but all that
really matters is the future”
The past, reflected through historical accounting, is a must have for an
organization. However, the past has become less and less important as
part of the budgeting process. Benchmarking and development of key
metrics have changed the budgeting process and the development
strategic plans for the future.
Budgeting is about planning…first and foremost.
MK Reesor, CPA
3. BUDGETS & FORECASTS
However you choose
to develop your budget
forecasts, one thing is
certain, you will be
wrong!
“People with goals succeed,
because they know where they
are going.”
–Earl Nightingate
MK Reesor, CPA
4. BUDGETS & FORECASTS
Why Budget?
Allocation of scarce resources.
Determine business needs…financing, personnel, equipment.
Plan operations.
Evaluate performance.
MK Reesor, CPA
5. BUDGETS & FORECASTS
The Circle of Life
Goals….Plans…Action…
Measurement…Adjustment.
MK Reesor, CPA
6. BUDGETS & FORECASTS
Why Budgeting Fails…
1. Competing Reasons for Budgeting
(Performance Measurement/Compensation
vs. Strategic Planning…)
2. Unrealistic Expectations.
3. Improper Communication.
4. Improper Metrics.
5. Sandbagging.
6. Fiefdoms.
7. Cost Allocations without Authority.
8. Time. Budgeting should be a continuous
process throughout the year.
9. When budgeting is thought of as only an
Excel spreadsheet exercise.
MK Reesor, CPA
7. BUDGETS & FORECASTS
Budgeting Success
Participatory Budgeting
Align Budgets with Strategy
Develop Responsibility Centers
Use of Metrics
Know What Drives Costs
Know Cost Structure…Particularly Fixed Costs
How Critical is Payroll?
What Can You Control?
Can You Outsource (Conversion of Fixed to Variable)
Budgeting with a “Measurement of Output”.
MK Reesor, CPA
8. BUDGETS & FORECASTS
Revenue Forecasting
What Drives Revenue?
More Customers
More Revenue from Existing
Customers
New Products
New Markets
External Changes
MK Reesor, CPA
9. BUDGETS & FORECASTS
Cash Forecasting
Cash is King
After Income Statement, Develop
Balance Sheet Assumptions
Project Cash at Least Monthly
Operationally…a Rolling 13 Week
Cash Flow Forecast with a Backfill
of Actual Receipts & Disbursements
Will a Line be Available?
What is Your Margin of Error (10%
error in Revenue may not be a big
deal…but in Cash it might be
deadly)
MK Reesor, CPA
10. BUDGETS & FORECASTS
Balanced Scorecard
Developed by Robert Kaplan and
David Norton
Felt Organizations Focused too
Heavily on “Financial Measures”
Historical Reporting Techniques No
Longer Appropriate in the
“Information Age”
Historical Results are Lagging
Indicators Lacking Predictive Power
Benefits…Translate Strategy,
Quickly Anticipate Financial Results,
Align Employee Action, Create
Value with Intellectual Assets.
MK Reesor, CPA
11. BUDGETS & FORECASTS
Balanced Scorecard
The Root Cause of Dissatisfaction
is Over Reliance on Financial
Measures
Intangible Assets are the Key to
Producing Value in Today’s
Economy….Employee Knowledge,
Customer & Supplier Relationships,
Innovative Business Processes
Balances Financial Measures with
the Drivers of Economic Success to
Enhance Strategy Execution
MK Reesor, CPA
12. BUDGETS & FORECASTS
Critical Success Factors
In order to tie a budget to a strategy, the
company and all of its employees must
understand the company’s sustainable
competitive advantage and the things it
must do to maintain and improve on its
advantage…the company’s critical success
factors (CSFs). These are determined far
in advance of the budgeting process.
MK Reesor, CPA
13. BUDGETS & FORECASTS
Key Performance Indicators
Metrics that measure CSFs are Key Performance
Indicators (KPIs)
All Great Companies Measure “Profit in Ratio to
Something”
MK Reesor, CPA
14. BUDGETS & FORECASTS
Senior Financial Executives Look Forward
Plan to Execute Strategy
Allocate Scarce Resources
Communicate and Motivate.
Understand Revenue and Cost Relationships
Identify CSF and KPI
Benchmarking
Identify, Quantify, and Mitigate Risk
The Past is an Imperfect Predictor of the Future
Prepare Contingency Plans
Embrace the Budgeting Process
MK Reesor, CPA