Planning to achieve budget goals, Financial Management

Planning to Achieve Budget Goals:

It is insufficient for an organisation or a project team to simply set budget goals and expect management and employees to work in the same manner as normal in order to achieve the new goal.

Budget goals must be accompanied by planning to assist staff to meet the new targets.

Planning may include:

  • The establishment of new policies and procedures designed to increase efficiency and productivity in the work place
  • Review of current financial arrangements (refinancing)
  • Review of current terms of trade (to extend times for accounts payable, and reduce times for accounts receivable)
  • Introduce more vigorous debt management procedures
  • Review commission levels
  • Investigate alternative suppliers to ascertain where savings can be made

 

 

Posted Date: 10/1/2012 4:18:16 AM | Location : United States







Related Discussions:- Planning to achieve budget goals, Assignment Help, Ask Question on Planning to achieve budget goals, Get Answer, Expert's Help, Planning to achieve budget goals Discussions

Write discussion on Planning to achieve budget goals
Your posts are moderated
Related Questions
Weighted average cost of capital of Firm: Use the following information to answer the questions. Security Beta Expected retur

An individual agent thinks that there is a high probability that the Dow Jones will have a payoff (or points) between a=10000 and b=12000 at t=1. Design a digital option (see Fi

Examine about the Risk-based auditing A risk based audit will be reviewing the risk management process and considering main risks of the organisation as a whole. Risk manage

A mortgage, is sold to the SPV at the discretion of the bank to securitize it into a mortgage backed security, that is, the mortgage is said to

Describe the duties of the financial manager in a business firm? Financial managers evaluate the firm's performance, determine what are the financial consequence will be if the

Additional Paid in Capital - Amounts paid for stock in excess of its PAR VALUE or STATEDVALUE. Furthermore, other amounts paid by stockholders and charged to EQUITY ACCOUNTS other

Under what circumstance would the U.S. dollar and the Canadian dollar be said to have achieved purchasing power parity? The U.S. dollar and the Canadian dollar would be referred

QUESTION (a) What are the main benefits of E-Banking to customers and banking institutions? (b) Internet Banking products and services are of two primary types, informationa

Q. Example on interest rate movements? Cap/floor volatility is consideration to be higher than swaption volatility because the market buys volatility trough swaptions as well a

Explain the meaning of Buy-ins This  is  when  third  party  management  team  make  a  takeover  bid  and  then  run  business themselves. Finance sources are same as to buy-o