Miguel Cabezudo Nicolas Laflesselle. Financial plans are called budgets and the process of making, monitoring and adjusting them is called budgetary control.

Slides:

Advertisements

Similar presentations

Traditions and Innovations

Advertisements

Cash Flow Sewon Kim Kevin Tran Mary. Index Introduction Clients cash flow Contractors cash flow Cash flow forecasting Improving cash flow Example References.

18-0 The Cash Budget 18.4 Forecast of cash inflows and outflows over the next short-term planning period Primary tool in short-term financial planning.

© The McGraw-Hill Companies, Inc., 2002 McGraw-Hill/Irwin Operational Budgeting Lecture 23.

Managing Finance and Budgets

Intro to Master Budget AGEC 489/689 Spring 2009 Slide Show #4.

Financial Modeling and Forecasting Smart Practices Presented by Christopher J. Swanson Government Finance Research Group

Programme/ Project Title Programme/ Project Leader Project Team Members.

Budgetary Planning Topic 1. Budgeting The budget is a key financial plan of a business that attempts to forecast a number of months ahead how best to.

Budgets. On completing this chapter, we will be able to: Understand why financial planning is important. Analyse the advantage of setting budgets- or.

Top management jobs BP-Centro Finland Erno Karpoff

PowerPoint Presentation by Charlie Cook The University of West Alabama Copyright © 2006 Thomson Business & Professional Publishing. All rights reserved.

Chapter 20 The Budgeting Process.

Cashflow forecasting Why is cashflow forecasting important? To ensure a company has adequate finance (in the right time, place, amount, and currency (remember.

Miguel Cabezudo Nicolas Laflesselle. 1. DEFINITION 2. TYPES OF GROUPING 3. ORGANISATION STRUCTURE 4. EXAMPLES 5. QUESTIONS 6. REFERENCES.

Introduction to Management Accounting

Chapter 41 Cash, Short-term Investments and Accounts Receivable Chapter 4.

Lecture 31. Chapter 8 Budgetary Planning and Control.

Budget & Budgetary Control.  A budget is a detailed plan for some specific future period. It is an estimate prepared in advance for some specific period.

22 Budgeting Accounting 26e C H A P T E R Warren Reeve Duchac

2.3.3a How does a company budget efficiently AS Edexcel Business Studies Reference: com com.

Sales, Production, and Purchases Budgets Managerial Accounting Prepared by Diane Tanner University of North Florida Chapter 38.

Miguel Cabezudo Nicolas Laflesselle Niklas Wilkens.

1 MPUMALANGA PROVINCE DEPARTMENT OF HEALTH AND SOCIAL SERVICES PUBLIC HEARING ON CONDITIONAL GRANTS AND CAPITAL EXPENDITURE 18 JANUARY 2006.

BUDGETING Reference – Mgmt Accounting –Reddy and Sharma.

Unit 3 Accounts & Finance Budgeting. Learning Objectives Understand the importance of budgeting for organisations Calculate and interpret variances Analyse.

Chapter (7) Master Budget : Overall Plan

Budgeting Miss Hunter. What is the purpose (Advantages) of budgets? A budget is a financial statement that sets out plans for a future accounting period,

Materials Planning & Control. Introduction With the development of ‘integrated materials management’ and ‘supply chain management’, material managers.

Cash Management. Lecture Outline Importance of Cash Budgets How to Prepare a Cash Budget Debt vs. Equity Finance Preparation of a Loan Schedule Nominal.

Cash Flows and Financial Management. PREPARING A STATEMENT OF CASH FLOWS Summarizes all cash inflows and outflows affecting a business by Month Quarter.

University of Toronto – Cash Management CAUBO June 2006 By Helen Choy

Understanding & controlling the project Production Process.

MAN 470 – Berk TUNCALI 1. What is Cash Management? It is the process of forecasting, collecting, disbursing, investing and planning for the cash a company.

JOSIE D. ALBAO DOST V-PMU Financial Assumptions Financial Projections Return on Investment Partial Budget Analysis.

Controlling Prepared by: John Heider G. Angeles ME-4 EMG20 – C1; 1 st QTR S.Y Lecture Copyright: Prof.E.S. BIO Source: Management - A Global.

Best Financial Management Practices for Governmental Issuers As recommended by FITCH Rating Services, GFOA, and the National Association of State Auditors,

The process of measuring progress toward planned performance and, if necessary, applying corrective measures to ensure that performance is on the line.

Needles Powers Crosson Principles of Accounting 12e The Budgeting Process 22 C H A P T E R ©human/iStockphoto.

Page 1 Case Study – Cash budgeting, strengths, weaknesses and prospects Budget execution course November 3-5, 2003 Presented by: Joel Turkewitz, WBI Nicola.

Foundations and Evolutions

1 Budgeting Learning Objective: Understand the function of financial budgets. Awareness of the concept of a financial budget Pg

Fundamentals of Project Control Chapter 11 Design Stage 1 Preconstruction Stage 2: Procurement Conceptual Planning Stage3: Construction Stage 4: Project.

Budgeting Unit 4 Further aspects of management accounting Mr. BarryA-level Accounting Year 13.

Financial performance For the eight months ended 29 February 2016.

Cash budgeting. What is a budget?   An agreed plan of action for a period of time   A financial plan shown in monetary terms   Sets out financial.

Information Technology Project Management, Seventh Edition Note: See the text itself for full citations.

Chapter # 5 Financial Plan. Financial Plan for start up business A financial plan is a series of steps or goals used by an individual or business, the.

* * Chapter Eighteen Financial Management Copyright © 2010 by The McGraw-Hill Companies, Inc. All rights reserved.McGraw-Hill/Irwin.

Road Investment Decision Framework

Managing Budgets. Question 2: total planning and operational variances Suppose a budget is prepared which includes a raw materials cost per unit of product.

BUS106 Lecture #6 Chapter 9 Presented by Dr Greg Laing Prepared by Nicola Beatson.

Basics of financial management Chapter 6

FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT

FINANCIAL MANAGEMENT

PAD 505 knowledge is divine-- snaptutorial.com. PAD 505 Assignment 1 The Operating Budget For more classes visit Assignment 1 The.

FINANCIAL MANAGEMENT.

Financial planning and forecasting

Financial Modeling and Forecasting Smart Practices

Justice Budget Monitoring Project

Todays Learning Outcomes

Finance for Non-Financial Managers

Financial management.

Financial Management in Humanitarian Response Programme

Presentation transcript:

Miguel Cabezudo Nicolas Laflesselle

Financial plans are called budgets and the process of making, monitoring and adjusting them is called budgetary control. The budget may be expressed in tabular or graphical format such as S curves.

Harris and McCaffer identification : * Operating budget * Annual sales budget * Capital expenditure budget * Cash flow budget * Master budget

Prepare forecast Consider policy Assess resources Review Accept the budget Accept master budget Consult management Prepare forecast data Assess resources and impact on forecast Convert to monetary budget PREPARING THE BUDGET

Prepare forecast Comparitor period Compare forecast/actual Analyse and report Action and implement Management Action Quarterly, Monthly, weekly or daily Prepare forecast (sales, cumulative value and cash flow) Compare Forecast with Actual performance Analysis of Variance Report to management THE CONTROL CYCLE

* It is an essential function of management to prepare forecast in order to establish a plan for the future of the business. * The company has to plan for the next year’s * Estimating, planning and quantity.

* Bar chart Money or resource allocations against time * Graphical display Value-time curve forecast

MAN WEEKS

Man weeks Project duration (weeks) Variance

Expenditure (£000) Project duration (weeks) Variance

Expenditure (£000) Project duration (weeks)

* Must be established in order to monitor the budget at clearly defined time intervals. (daily, weekly, monthly, quarterly or annually) * Management must act where variances are apparent at each review date, whether they are positive or negative.

* Cooke, Brian, & Williams, Peter. Construction, planning, programming & control. Blackwell Publishing