Budgeting Essay Example | Topics and Well Written Essays - 750 words

Budgeting - Essay Example (Klammer, 1999) A financial reporting system should have several components including assets, which refer to resource primarily controlled by an enterprise. Assets are ownership of a company and should be well recorded in the financial statements to be clearly reflected. Liabilities should also be clearly recorded and equity as well included in the financial statements. Equity is residual interest in assets after all liabilities have been taken care of and is also called owner’s equity. Operating budget versus activity based budget An operating budget refers to a yearly budget presented in terms of cost accounts, functional categories and budget classification code among others. It consists of estimates of total value of resources needed in operation. It is used to track operations in maintenance, wages as well as dividend payments among others. An activity based budget is one in which activities happening in a specific organisation are recorded and costs associated to them ar e recorded as well. (Cokins, 2006) This is followed by act of associating these costs with a company’s goals and hence from this, an activity based budget is developed. ... Though goals are set, both budgets have little or no control at all on whether or not the goals will be achieved. Both activity based budget and operating budget engage all stakeholders hence success or failure is attributed to all. Activity based budgeting and operating budget display some differences. Activity based budget is majorly based operating activities and costs as opposed to operating budget which is based on budget classification codes and cost accounts. Operating budget keeps track of maintenance operations, salaries and wages, and interest payments. Activity based budget on the contrary mainly focuses on a company’s goals and how much has been achieved. (Proctor, 2009) Management of ICBI should adapt activity based budget. It is not hard to come up with and it is rather cheap since it avoids a bloated budget by making sure that relevant activities are recorded and costs associated to them. ICBI management should be sure of goals of the company, activities and res ources required to run these activities. These activities should be recorded and tied with codes. Having recorded all activities required for performance, every cost code should then be associated with costs relevant to them and with special attention to goals of ICBI. Budget guidelines for ICBI There has to be a plan before any budget is made and this plan has some guidelines to help develop it. A budget cannot be made by one mind but requires to have a group of individuals that will work together to help develop a comprehensive budget. It should be prepared within the generally accepted principles and procedures of accounting. A budget should incorporate

Disability and rehabilitation Essay Example | Topics and Well Written Essays - 2000 words

Disability and rehabilitation - Essay Example The primary parts of the research presented are the title and the abstract. These parts need to present a view on the main contents of the research undertaken. The title specifically is the part that can identify the main focus of the study and even the methods used to arrive at the results which are stated in a single statement. The title of the study presents the parameters that are included such as the quality of life and the oxygen consumption of the CHF patients. These are used for the determination of the effect of physical training. Additional information specifically the method of research used e.g. randomization is important in the title. Another pertinent part that needs to give and overview of the research process undertaken is the abstract. It is comparable to a summary of the study presented in a manner similar to the organization of the paper itself. The indication of the parts in a structured abstract can be considered ideal on the basis of the readers’ ease in finding information.The main aim is the assessment of the QoL and oxygen consumption to be able to gauge the effects of physical training to patients of CHF. The said parameters had been assessed through the study of a population of men with the condition referred to as ischaemic CHF which had been randomized into groups of different set ups with varying levels of physical training.