The document provides an overview of nonprofit budgeting best practices, including why budgets are important for planning and control, the various types of budgets and how to prepare them, and guidelines for an effective budgeting process such as getting management buy-in, decentralizing the process, using strong tools and training, and establishing ongoing budget monitoring policies. It aims to educate nonprofits on creating comprehensive and strategic budgets.
Understanding financial statements for non-financial managers and executivesKenny Goh
This was a presentation I delivered to a group of department heads and editors of a publishing company (specialising in scientific, technical, and medical books and journals). I've redesigned some slides in this publication.
Preparation of financial statements for a business which has not maintained proper records(Double Entry records)
Profit Equation method or Converting incomplete records to complete records.
Basics of Financial Management for Non Finance Executives - Part 1SChakrabarti
This is an introductory Session of Financial Management for Non Finance executives. it covers the basic Financial concepts and provides an overview of Financial Statements, different types of transactions and the similarities and differences between assets & expenses.
Social development club is a leading course content provider of India with a key focus on skilling courseware development. We deliver complete package required to deliver the Skill development program effectively. We develop NCVT and SSC aligned courses of all the domains and for all the schemes.
Contact: sdccourses@gmail.com, http://www.socialdevelopment.club
Understanding financial statements for non-financial managers and executivesKenny Goh
This was a presentation I delivered to a group of department heads and editors of a publishing company (specialising in scientific, technical, and medical books and journals). I've redesigned some slides in this publication.
Preparation of financial statements for a business which has not maintained proper records(Double Entry records)
Profit Equation method or Converting incomplete records to complete records.
Basics of Financial Management for Non Finance Executives - Part 1SChakrabarti
This is an introductory Session of Financial Management for Non Finance executives. it covers the basic Financial concepts and provides an overview of Financial Statements, different types of transactions and the similarities and differences between assets & expenses.
Social development club is a leading course content provider of India with a key focus on skilling courseware development. We deliver complete package required to deliver the Skill development program effectively. We develop NCVT and SSC aligned courses of all the domains and for all the schemes.
Contact: sdccourses@gmail.com, http://www.socialdevelopment.club
It's a good presentation for those students who just started to learn accounting.
Basic theory of accounting must be clear, and there for here I have uploaded this presentation.
Personal Financial planning & ManagementAshish Ongari
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.
The Debt Coverage Ratio is very commonly used in real estate investment analysis where leverage is used. Loan, Debt, Debt Service, Financing, Leverage all mean receiving money with a repayment plan with the property or more as collateral. There are so many different ways to structure a loan that I won't begin to go through the different methods, but they all have a loan amount and debt service. The institution usually uses two methods to figure out how much to loan on a commercial real estate property. Loan to Value (LTV) and Debt Coverage Ratio (DCR), and usually picks the method that creates the lowest initial loan amount. The Loan to Value is based of a percentage of the purchase price. The Debt Coverage Ratio creates a ratio that represents how much net operating income there is to cover the debt created by all the loans on the property.
Cambridge A Level
Cambridge O Level
Accounting
9706
Differences between a club and a company
Difference between capital and accumulated fund
Terms used in a club and a profit making business
Differences between the financial statements of a not for profit organisation and a limited company or another profit oriented business like sole trader and partnerships
Reason to capitalize the donations received
Reasons to not to give dividends to members
Differences between the donation and subscription
Subscription calculation using the account or equation
Differences between receipts and payments account and income and expenditure account
All the important theories for a level students under clubs and societies final account
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Corporate Finance Powerpoint Presentation Slides. This PPT deck displays eighty slides with in-depth research. Our topic oriented Corporate Finance Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyze the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. O. It showcases of all kind of editable templates infographics. You can make changes to colors, data, and fonts if you need to. Download PowerPoint templates in both widescreen and standard screen. The presentation is fully supported by Google Slides. It can be easily converted into JPG or PDF format. https://bit.ly/3pEi9qk
Table of Contents
0. What is financial management?
1. Policy & Procedures Manual
2. Accounting Policies
3. Summary of Procedures
4. General Ledger
5. Cash Management and Disbursements
6. Budgeting and Budgetary Control
7A. Cost Allocation
7B. Fixed Assets
8. Travel
9. Procurement of Goods and Services
10. Reporting Requirements
11. Payroll
12. Computer Information Systems (CIS)
Debit and Credit
Accounting is the systematic recording and organizing of all the financial information of a company. This refers to the bookkeeping function of Accounting; where bookkeepers record accounts in journals and transferring it to a ledger. Accounting also has the reporting function where all the gathered financial information is used to create financial statements to analyze and understand the financial health and performance of the business. It’s pretty straightforward, almost all people can understand this definition at first look, but what confuses everybody is the concept of Debit and Credit. Now to set things clear, let’s define first debit and credit.
We seriously do appreciate you examining this slide share. Just in case you want to study more about other important accounting theories, our company, TrendStatic Business Solutions delivers different Basic Accounting for Non-Accountants training programs. Educating regular individuals without Accounting qualifications all the stuff that they have to properly recognize to start out on accounting.
This webinar will provide a basic introduction to budgeting in a nonprofit setting. Attendees will learn how to prepare and strategically use budgets for their organization.
It's a good presentation for those students who just started to learn accounting.
Basic theory of accounting must be clear, and there for here I have uploaded this presentation.
Personal Financial planning & ManagementAshish Ongari
Personal finance is the financial management which an individual or a family unit performs to budget, save, and spend monetary resources over time, taking into account various financial risks and future life events.
The Debt Coverage Ratio is very commonly used in real estate investment analysis where leverage is used. Loan, Debt, Debt Service, Financing, Leverage all mean receiving money with a repayment plan with the property or more as collateral. There are so many different ways to structure a loan that I won't begin to go through the different methods, but they all have a loan amount and debt service. The institution usually uses two methods to figure out how much to loan on a commercial real estate property. Loan to Value (LTV) and Debt Coverage Ratio (DCR), and usually picks the method that creates the lowest initial loan amount. The Loan to Value is based of a percentage of the purchase price. The Debt Coverage Ratio creates a ratio that represents how much net operating income there is to cover the debt created by all the loans on the property.
Cambridge A Level
Cambridge O Level
Accounting
9706
Differences between a club and a company
Difference between capital and accumulated fund
Terms used in a club and a profit making business
Differences between the financial statements of a not for profit organisation and a limited company or another profit oriented business like sole trader and partnerships
Reason to capitalize the donations received
Reasons to not to give dividends to members
Differences between the donation and subscription
Subscription calculation using the account or equation
Differences between receipts and payments account and income and expenditure account
All the important theories for a level students under clubs and societies final account
"You can download this product from SlideTeam.net"
Presenting this set of slides with name - Corporate Finance Powerpoint Presentation Slides. This PPT deck displays eighty slides with in-depth research. Our topic oriented Corporate Finance Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyze the topic with a clear approach. We provide a ready to use deck with all sorts of relevant topics subtopics templates, charts and graphs, overviews, analysis templates. O. It showcases of all kind of editable templates infographics. You can make changes to colors, data, and fonts if you need to. Download PowerPoint templates in both widescreen and standard screen. The presentation is fully supported by Google Slides. It can be easily converted into JPG or PDF format. https://bit.ly/3pEi9qk
Table of Contents
0. What is financial management?
1. Policy & Procedures Manual
2. Accounting Policies
3. Summary of Procedures
4. General Ledger
5. Cash Management and Disbursements
6. Budgeting and Budgetary Control
7A. Cost Allocation
7B. Fixed Assets
8. Travel
9. Procurement of Goods and Services
10. Reporting Requirements
11. Payroll
12. Computer Information Systems (CIS)
Debit and Credit
Accounting is the systematic recording and organizing of all the financial information of a company. This refers to the bookkeeping function of Accounting; where bookkeepers record accounts in journals and transferring it to a ledger. Accounting also has the reporting function where all the gathered financial information is used to create financial statements to analyze and understand the financial health and performance of the business. It’s pretty straightforward, almost all people can understand this definition at first look, but what confuses everybody is the concept of Debit and Credit. Now to set things clear, let’s define first debit and credit.
We seriously do appreciate you examining this slide share. Just in case you want to study more about other important accounting theories, our company, TrendStatic Business Solutions delivers different Basic Accounting for Non-Accountants training programs. Educating regular individuals without Accounting qualifications all the stuff that they have to properly recognize to start out on accounting.
This webinar will provide a basic introduction to budgeting in a nonprofit setting. Attendees will learn how to prepare and strategically use budgets for their organization.
Presented by Annie Lynsen for the Foundation Center Washington D.C. in June of 2012.
Learn:
Why is Google+ important?
Google+ basics
-Circles
-Pages vs. Profiles
-What’s Hot/Hashtags
-Hangouts
Strategy
Etiquette
The 2nd in the series 60 Minutes of Good Content into 30 minutes of great content - The 3 Dirty Words in Business - Plan - Goal and "Do It." Understand how to embrace instead of ignore or fear these words so that 2013 is better than 2012.
Defining Your Goal: Starting Your Own BusinessJoshua Drake
Joshua Drake will still go through the "business" steps of starting your own business, but will focus on the real decisions and sacrifices required that a pure business standpoint will not get into. Self improvement/discovery and focusing on your entrepreneurial nature will be the core theme.
Having a solid, up-to-date budget in place for your restaurant is as critical to a restaurateur as a lighthouse is to a sailor. Both can be the key element between you surviving or dying during rocky times. Have you set yourself up for success?
Growing your business is a continuous effort and goal. Business owners need to think and plan more strategically to effectively grow their businesses. Here are 10 simple and strategic ideas that will help increase your revenue without putting a strain on your pockets.
Are you an FP&A Business User that is looking to improve your Planning Process by implementing purpose built software? Get a glimpse inside the decision making process while preparing for a Hyperion Planning or PBCS implementation. Join Bryan Hogan as he addresses all your Planning questions.
What are the different Plan & Forecast types and what are the benefits of each?
What do all the different Planning Buzzwords / Terms really mean for my company (for example, Driver Based Planning, Rolling Forecast, Bottoms-up Forecast, etc.)?
What different planning methodologies can be used to develop a forecast?
How low should I go? What level of planning makes sense to provide an effective management tool to help guide the business and make proactive business decisions?
What pain points am I likely to face as a planner but also as a business owner involved in the planning process?
Are there benefits to using a flexible Excel model versus a centralized planning solution
Presenter: Bryan Hogan
Latino Buying Power - May 2024 Presentation for Latino CaucusDanay Escanaverino
Unlock the potential of Latino Buying Power with this in-depth SlideShare presentation. Explore how the Latino consumer market is transforming the American economy, driven by their significant buying power, entrepreneurial contributions, and growing influence across various sectors.
**Key Sections Covered:**
1. **Economic Impact:** Understand the profound economic impact of Latino consumers on the U.S. economy. Discover how their increasing purchasing power is fueling growth in key industries and contributing to national economic prosperity.
2. **Buying Power:** Dive into detailed analyses of Latino buying power, including its growth trends, key drivers, and projections for the future. Learn how this influential group’s spending habits are shaping market dynamics and creating opportunities for businesses.
3. **Entrepreneurial Contributions:** Explore the entrepreneurial spirit within the Latino community. Examine how Latino-owned businesses are thriving and contributing to job creation, innovation, and economic diversification.
4. **Workforce Statistics:** Gain insights into the role of Latino workers in the American labor market. Review statistics on employment rates, occupational distribution, and the economic contributions of Latino professionals across various industries.
5. **Media Consumption:** Understand the media consumption habits of Latino audiences. Discover their preferences for digital platforms, television, radio, and social media. Learn how these consumption patterns are influencing advertising strategies and media content.
6. **Education:** Examine the educational achievements and challenges within the Latino community. Review statistics on enrollment, graduation rates, and fields of study. Understand the implications of education on economic mobility and workforce readiness.
7. **Home Ownership:** Explore trends in Latino home ownership. Understand the factors driving home buying decisions, the challenges faced by Latino homeowners, and the impact of home ownership on community stability and economic growth.
This SlideShare provides valuable insights for marketers, business owners, policymakers, and anyone interested in the economic influence of the Latino community. By understanding the various facets of Latino buying power, you can effectively engage with this dynamic and growing market segment.
Equip yourself with the knowledge to leverage Latino buying power, tap into their entrepreneurial spirit, and connect with their unique cultural and consumer preferences. Drive your business success by embracing the economic potential of Latino consumers.
**Keywords:** Latino buying power, economic impact, entrepreneurial contributions, workforce statistics, media consumption, education, home ownership, Latino market, Hispanic buying power, Latino purchasing power.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
how to sell pi coins effectively (from 50 - 100k pi)DOT TECH
Anywhere in the world, including Africa, America, and Europe, you can sell Pi Network Coins online and receive cash through online payment options.
Pi has not yet been launched on any exchange because we are currently using the confined Mainnet. The planned launch date for Pi is June 28, 2026.
Reselling to investors who want to hold until the mainnet launch in 2026 is currently the sole way to sell.
Consequently, right now. All you need to do is select the right pi network provider.
Who is a pi merchant?
An individual who buys coins from miners on the pi network and resells them to investors hoping to hang onto them until the mainnet is launched is known as a pi merchant.
debuts.
I'll provide you the Telegram username
@Pi_vendor_247
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
USDA Loans in California: A Comprehensive Overview.pptxmarketing367770
USDA Loans in California: A Comprehensive Overview
If you're dreaming of owning a home in California's rural or suburban areas, a USDA loan might be the perfect solution. The U.S. Department of Agriculture (USDA) offers these loans to help low-to-moderate-income individuals and families achieve homeownership.
Key Features of USDA Loans:
Zero Down Payment: USDA loans require no down payment, making homeownership more accessible.
Competitive Interest Rates: These loans often come with lower interest rates compared to conventional loans.
Flexible Credit Requirements: USDA loans have more lenient credit score requirements, helping those with less-than-perfect credit.
Guaranteed Loan Program: The USDA guarantees a portion of the loan, reducing risk for lenders and expanding borrowing options.
Eligibility Criteria:
Location: The property must be located in a USDA-designated rural or suburban area. Many areas in California qualify.
Income Limits: Applicants must meet income guidelines, which vary by region and household size.
Primary Residence: The home must be used as the borrower's primary residence.
Application Process:
Find a USDA-Approved Lender: Not all lenders offer USDA loans, so it's essential to choose one approved by the USDA.
Pre-Qualification: Determine your eligibility and the amount you can borrow.
Property Search: Look for properties in eligible rural or suburban areas.
Loan Application: Submit your application, including financial and personal information.
Processing and Approval: The lender and USDA will review your application. If approved, you can proceed to closing.
USDA loans are an excellent option for those looking to buy a home in California's rural and suburban areas. With no down payment and flexible requirements, these loans make homeownership more attainable for many families. Explore your eligibility today and take the first step toward owning your dream home.
Resume
• Real GDP growth slowed down due to problems with access to electricity caused by the destruction of manoeuvrable electricity generation by Russian drones and missiles.
• Exports and imports continued growing due to better logistics through the Ukrainian sea corridor and road. Polish farmers and drivers stopped blocking borders at the end of April.
• In April, both the Tax and Customs Services over-executed the revenue plan. Moreover, the NBU transferred twice the planned profit to the budget.
• The European side approved the Ukraine Plan, which the government adopted to determine indicators for the Ukraine Facility. That approval will allow Ukraine to receive a EUR 1.9 bn loan from the EU in May. At the same time, the EU provided Ukraine with a EUR 1.5 bn loan in April, as the government fulfilled five indicators under the Ukraine Plan.
• The USA has finally approved an aid package for Ukraine, which includes USD 7.8 bn of budget support; however, the conditions and timing of the assistance are still unknown.
• As in March, annual consumer inflation amounted to 3.2% yoy in April.
• At the April monetary policy meeting, the NBU again reduced the key policy rate from 14.5% to 13.5% per annum.
• Over the past four weeks, the hryvnia exchange rate has stabilized in the UAH 39-40 per USD range.
how to sell pi coins at high rate quickly.DOT TECH
Where can I sell my pi coins at a high rate.
Pi is not launched yet on any exchange. But one can easily sell his or her pi coins to investors who want to hold pi till mainnet launch.
This means crypto whales want to hold pi. And you can get a good rate for selling pi to them. I will leave the telegram contact of my personal pi vendor below.
A vendor is someone who buys from a miner and resell it to a holder or crypto whale.
Here is the telegram contact of my vendor:
@Pi_vendor_247
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
NO1 Uk Black Magic Specialist Expert In Sahiwal, Okara, Hafizabad, Mandi Bah...Amil Baba Dawood bangali
Contact with Dawood Bhai Just call on +92322-6382012 and we'll help you. We'll solve all your problems within 12 to 24 hours and with 101% guarantee and with astrology systematic. If you want to take any personal or professional advice then also you can call us on +92322-6382012 , ONLINE LOVE PROBLEM & Other all types of Daily Life Problem's.Then CALL or WHATSAPP us on +92322-6382012 and Get all these problems solutions here by Amil Baba DAWOOD BANGALI
#vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore#blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #blackmagicforlove #blackmagicformarriage #aamilbaba #kalajadu #kalailam #taweez #wazifaexpert #jadumantar #vashikaranspecialist #astrologer #palmistry #amliyaat #taweez #manpasandshadi #horoscope #spiritual #lovelife #lovespell #marriagespell#aamilbabainpakistan #amilbabainkarachi #powerfullblackmagicspell #kalajadumantarspecialist #realamilbaba #AmilbabainPakistan #astrologerincanada #astrologerindubai #lovespellsmaster #kalajaduspecialist #lovespellsthatwork #aamilbabainlahore #Amilbabainuk #amilbabainspain #amilbabaindubai #Amilbabainnorway #amilbabainkrachi #amilbabainlahore #amilbabaingujranwalan #amilbabainislamabad
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
how to sell pi coins in all Africa Countries.DOT TECH
Yes. You can sell your pi network for other cryptocurrencies like Bitcoin, usdt , Ethereum and other currencies And this is done easily with the help from a pi merchant.
What is a pi merchant ?
Since pi is not launched yet in any exchange. The only way you can sell right now is through merchants.
A verified Pi merchant is someone who buys pi network coins from miners and resell them to investors looking forward to hold massive quantities of pi coins before mainnet launch in 2026.
I will leave the telegram contact of my personal pi merchant to trade with.
@Pi_vendor_247
Even tho Pi network is not listed on any exchange yet.
Buying/Selling or investing in pi network coins is highly possible through the help of vendors. You can buy from vendors[ buy directly from the pi network miners and resell it]. I will leave the telegram contact of my personal vendor.
@Pi_vendor_247
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
2. About Us
• For more than a decade,
Accounting Management
Solutions, (AMS) has
provided accounting support
and financial management
leadership at the consulting
CFO, controller and
accounting manager level to
dynamic companies
throughout the Northeast.
2
3. Agenda
• The basics of budgeting.
• Why budgets are important for control
purposes.
• Various types of budgets.
• When each type of budget is used.
• How to prepare and address some of the
important parts of a budget.
• What are their limitations?
3
4. What is a Budget?
• Budgets are summaries of short-term
operational activities of a organization.
• For example, a organization may prepare a
cash budget to predict cash inflows and
outflows.
• Budgets are quantitative representations.
4
5. Budgeting vs. Forecasting: There is a
difference
• A forecast is a prediction.
• There are many hypotheticals before a forecast
looks like a budget.
• A forecast can only predict.
5
6. Budgets are . . .
• …. a strategic organizational plan.
• …. based on facts, events in progress and
actions planned.
• …. a collaborative effort by finance and the
departments affected by obtaining input
before preparation.
• …. managed by department heads to make the
required steps to achieve the budget.
• …. necessary for planning and for controlling.
6
7. Various Types of Budgets
• Two Major Types
• Operating Budgets
• Capital or Investment Budgets
7
8. Characteristics of a Budget
• Stated in monetary units however, could contain
non-monetary items such as units produced,
sold, no. of items processed etc.
• Usually, short-term (one year) but could be
extrapolated from or to the longer term.
• Senior management must be involved in the
process and must approve it.
• Most important – budgets must be compared to
actual and the variances must be investigated.
8
9. Critical to Forecast & Create a Plan
• Management should review Budget on a
monthly basis
• The Board should receive a copy on a monthly
basis
• Managers should meet with finance on a
monthly basis to discuss the financials and any
unbudgeted expenditures.
9
11. Know Your Goals and Objectives
• Planning and Goal Setting must be
completed before the budgeting process
begins
• Lack of proper planning/goal setting may lead to
poor budgeting
• If people do not know their goals they may not
know how to start or may repeat current mode
of operations
• May miss substantial changes - may budget too
little or too much, causing a lot of rework and
frustration
11
12. Get Upper Management Support to
Create “Buy-In”
If they don’t care - no one else will. They
need to:
• Lead approval of Organization Goals and
Operations Plan
• Be involved/leaders in the budget process
• Support the process by MANAGING their staff
to the timelines and product completeness and
accuracy
• Approve all budgets prepared by those they
supervise
12
13. De-centralize the Budget Process
• Every manager who has a responsibility for a
budget should be involved in the process
• Understanding the rationale for their budget
enables them to “own” it and act as stewards of
their department expenses; since they understand
the costs of running their program, they also
become better fundraisers
• The finance department can help coordinate the
budgeting process but should not be putting
together program budgets; they are not the
individuals responsible for the budget
Holds everyone accountable for day to day
13
activities!
14. Involve Staff at Other Levels
Get their buy-in and delegate projects for them to plan
and budget; the more they are involved, the more
they will work to help the organization succeed
• Example: Budget for a Special Event – the Event
Planner reports to the Director of Fundraising; while the
Director of Fundraising is the manager involved in the
budget process, the Event Planner also needs to be
part of the budget process
• Example: A Day Care Center has 4 breakfasts a year
for the mother’s of the toddler group; the Assistant
Toddler Teachers are in charge of this; get them
involved in how much the breakfasts will cost and how
much they need to spend 14
15. Create Strong Tools & Training
What can we do to involve others in
the budgeting process?
15
16. Create Strong Tools & Training
• Host a Budget Training
• Create a Budget “toolkit” (typically your
finance team would create this; starts with
providing key assumptions and likely trends
affecting the business environment during the
budget’s timeframe)
• Provide Written Instructions & Timelines with
Dates/Deliverables
• Budget Template (fill in the blanks) – managers fill
in blanks and the template automatically calculates
and assigns overhead and related costs
16
17. Create Strong Tools & Training
Create a Budget “toolkit” (continued)
• Historical Info (Ops and Projects) and Year-to-date
Info. - adjust for any changes in the new budget
(Incremental Budgeting) Examples – COLA or
inflation increases
• Some Research – For new programs or events, get
estimates and provide Narratives (Zero Based
Budgeting - start from scratch)
• Include any projects/costs for which you have
received restricted funds or grants
17
18. Create Strong Tools & Training
Create a Budget “toolkit” (continued)
• Aligning the look and feel of your budget template to
your chart of accounts and the format of your
financial statements gets everyone on the page
• Some accounting software packages allow the
importing of budgets directly from Excel, so you may
want to consider using a worksheet in the template
that allows each budget to be automatically entered
18
19. Budget Template
See example budget template in Excel:
• Has instruction page
• Fill in the blank format based on color codes
• Some info filled in for them
• Data entry creates final budgets (linked
worksheets) and import into accounting system
• Budget and GL should be in format that allows
easy reporting for UFR and audit
19
25. Budget Template – Work backward
from final approval deadline
Date Date Staff Deliverable
Issued Completed
10/4/2004 10/18/2004 Manager Budget draft in budget template needs to be reviewed and
completed by budget managers.
10/18/2004 11/1/2004 Supervisors Review the budgets submitted by Managers and review for
reasonableness and completeness.
11/1/2004 11/15/2004 Finance Finance does internal review and meets with supervisors and
budget managers for final sign off.
11/15/2005 11/22/2004 Executive Executive Director receives organization budget summary.
Director
11/22/2004 11/29/2004 All Final review meetings are held with budget manager,
supervisor, finance and executive director.
11/29/2004 12/6/2004 Executive Budget presentation is completed and forwarded to the Board
Director and for review.
Finance
25
26. Review the Template
• Historical Info Provided
• Summary Page
• Salary, Benefits, Ops Page
• Place for Narrative information
• Projects
• Import Page into Accounting System
26
27. Revenue-Generating Staff
• Work closely with your development office to
assist with revenue piece if you are a grants-
based organization
• Work closely with your finance department if
you are a membership organization
• Weigh potential revenue sources by %’s
(likelihood of receiving X)
• Goal is to work with all staff throughout the org.
to look at external markets, including sources of
funding at the local, regional, and national
economy 27
28. Budget Components
Besides the basic operating revenue and
expense, what are the different
components of your budget?
• Capital Expenditures/Fixed Assets/Construction in
Progress (CIP)
• Surplus
• Cash Flow Projection
• Temporarily/permanently restricted revenue
28
29. Budget Capital Expenditures
Why budget for these items (capital
expenses) if they do not hit my income
statement?
They will:
• Increase your budgeted depreciation expense
• Increase your overall expenses
• Thereby increasing needed operating revenue
• Increase your cash flow/cash outlays needed
29
30. Why Budget a Surplus?
• Ensuring that your organization can sustain
itself during an unexpected change or difficult
period
• Work with management to project a surplus;
identify other revenue sources
30
31. Project Cash Flow
• Prepare a cash flow projection with your
budget
• Monitor and adjust monthly
• Review with management and the board
31
32. Budget Temporary & Permanently-
Restricted Revenue
Why budget for these revenue sources if they
do not hit my Unrestricted Column on my
Statement of Activities?
They will:
• Affect your final organization surplus/deficit result
• Provide revenue goals and results for fundraising
for future years
32
33. Manage Your Operating Budget &
Your Audited Financial Statements
• Don’t forget to budget for non-cash expenses
(depreciation expenses, vacation expenses,
deferred salary or benefits, etc.)
• Vacation accruals can turn a $10,000 surplus
on an operating budget into a deficit – don’t
be surprised at year end
• Understand the difference between the cash
basis and accrual basis of accounting;
communicate this to management
33
34. On-going Activity
• The budget process is not a once-a-year
activity
• Management should be meeting with the
managers once a month to review the actual
vs. budgeted performance and plan (project)
for the rest of the year
• Some organizations even re-budget mid-year
if there are substantial operational changes
34
35. Policies & Processes
• Once all draft budgets have been analyzed, modified,
balanced, etc. prepare an overall budget document
and presentation
• This includes who presents, when they present, and
what format they present the organization’s budget to
the board of directors for approval
• The presentation should include the goals and
objectives for the upcoming year
• A summary of the total income and expenses
contained in the budget
• Have an Organizational Chart/Staffing Plan available
for review
35
36. Policies & Processes
• Have an summary of income by individual sources
• A summary of expenses by broad categories such as
salaries and wages, consultants and contract services,
supplies, facilities, materials
• Overall budget summary should have comparative data
from the prior year and current year (with projections);
include a column indicating total change either by % or $
amount
• Depending on the organization, the finance/executive
committee should review and approve the budget before
the full Board
• Provide guidelines on how changes to the budget are
made an approved, how expenditures that exceed
budgeted amounts are approved, etc.
36
37. Other Supplemental Data
Budgeted Expense 2010
1% 1%
1%
2%
6% 3%
7%
43%
7%
8%
9%
12%
Salaries Payroll Taxes and benefits
Office expense Consultants
Professional fees Rent and building expense
Depreciation and amortization Program supplies and expenses
Training and travel Interest
Insurance Real estate taxes
37
38. Policies & Processes: Flex Budgets
• If the organization reaches financial goals
during the year, it can do more; build a flex
budget into the budget process
• Flex budgets provide a financial management
and motivation tool
• Gives the board comfort in knowing that the
organization won’t risk financial operations to
reach stretch goals
38
39. Other Policies & Processes
• Work Plans – Every Department/Program
should have one at the beginning of each fiscal
year; mirror organizational budget plan
• Federal or State Grants – Any carryover funds,
if allowed, should be monitored; any budget
modifications should be requested in writing
(any budget changes from a prior fiscal year will
affect this)
39
40. Contact Information
Kevin Derrivan
Senior Consultant
Accounting Management Solutions, Inc.
kderrivan@amsolutions.net
781-419-9266
www.amsolutions.net
40
Editor's Notes
Good afternoon everyone and welcome to Budgeting 101. My name is Kevin Derrivan, Senior consultant and engagement manager for Accounting Management Solutions.