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Managing Finance– Setting and Acheiving Budgets
Title: Managing Finance– Setting and Acheiving Budgets
Category: Literature / English
Details: Words: 1630 | Pages: 6.9 (approximately 235 words/page)
Managing Finance– Setting and Acheiving Budgets
SUBJECT: MANAGING FINANCE – SETTING AND ACHIEVING BUDGETS
Question 1
Advantages of budgets
Advantages of budgets
Within the context of the quotation “Fail to plan, is a plan to fail”, by looking at the advantages of a budget we would be able to see how this is very true.
There are number of reasons why it is useful for the company to produce budgets. The advantages of budgets, which are often mentioned in accounting literature, are as …showed first 75 words of 1630 total…
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…showed last 75 words of 1630 total…heavy rain and resultant road closures, guest numbers were down in January, but for the other five months, the numbers of tourists were greater than anticipated due to a brilliant wildflower display and the filling of lakes. The actual guest numbers was 12,000 for the six months.
VARIUOS REPORT
EXPENSES ACTUAL BUDGET VARIANCE VARIANCE %
Lease Payments ,000 ,000 NIL NIL
Wages ,000 ,000 (,000) 27.27%
Administration Expenses ,000 ,750 0 8.57%
Power & Lighting ,000 ,125 (,875) 47.69%
Depreciation on Equipment ,000 ,000 NIL NIL
Interest on Loan ,800 ,800 NIL NIL
Cleaning Expenses ,000 ,000 ,000 4.00%
TOTAL 6,800 9,675 (125) 14.31%
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