Budgeting and Forecasting

Accrual is income earned but not received or expenses incurred but not spent. Provision is making provision from the profit for a specified or known expense which is to be met in unknown future.

Offline and online are two different types of e-cash. Also, anonymous and identified are also two other different types of e-cash.

Make a list of all your expenses and prioritize by how important they are---like food, water, electric etc... then make a list of all your income/any money that you receive every month. Add up your expenses and see if you have enough money every month, if you have money left over after paying all your necessities then allow some money for non-necessities, like eating out, movies ect...Also include an amount, if able, that you can put towards savings every month, even if its a small amount.

cost sheet is division of three parts like 1.factory overheads,2.administration overheads,3.selling & distribution overhead.

on the basis of this total exact cost is caculated,as it is too important for

and cost & work accountant.

Bottom-up budgeting, also called participatory budgeting, is a somewhat modern approach to planning the use of a company's financial resources. Reserved for somewhat larger organizations, it differs from top-down budgeting where the high level executives make all of the decisions. Participatory budgeting provides the opportunity for employees to be involved in setting their own goals and expectations for a given financial period. It gives them ownership of the decisions, motivating them to meet budgetary constraints that otherwise might seem unattainable or unrealistic if they were delivered by someone without as much understanding of their day-to-day operations. Along with this increased participation, bottom-up budgeting also helps to create a more accurate picture of how much each department needs in order to function effectively. Of course, adjustments may need to be made for new hirings, special projects, and equipment replacement, but these can be communicated directly to the departments themselves before a budget is finalized. The important thing to remember when constructing any budget, whether it is bottom-up, top-down, or a mixture of the two, is that it be taken seriously at all levels of the organization. Though a budget alone cannot guarantee the success of any particular business, it can certainly prevent failure in most cases.

The Budget is a statement made every year by the government on how it's going to get the money it needs to spend on the country. It's worked out by the Chancellor of the Exchequer with help from his office, the Treasury. At the moment, the Chancellor is Gordon Brown. From: Fawad Ahmad

A plan which predicts expenses and income for a specific period of time.
A budget is a list of the expenses you will be making and the amount of money you are willing to use. It is more like a plan to figure out how much you can save and spend without going overboard with money.This particular method is used anywhere from big company business to very own household which can help keep you less worried about becoming in debt.

It is used to get an idea of what a comforcasted budgetpany might expect to earn in a fiscal year. You take last years expenses, increased by any percentage that you think they might go up, also include any new expenses you expect to incur. Then take the years expected revenue, usually last years plus projected growth, and subtract the expenses. The difference is projected profit. All of this combined is a forcasted budget

A forecasting budget can be both annual and more frequent. Generally an annual budget is prepared in order to determine if the organisation is progressing as expected. A more frequent cash flow budget should be prepared to ensure that the organisation is able to meet current obligations as they fall due, and they are progressing effectively in regard to cash flows.

Preparation of budget, appropriation of accounts, re-appropriations, surrender and savings.

Control of expenditure and ways & means position.

Audit

Treasury administration

Administration of Taxes i.e. Sales Tax, Entertainment Tax, Luxury Tax and Entry Tax etc.

Service Conditions including Freedom Fighters Pensions.

Resource mobilization through loans, Institutional Finance, Small Savings, Credit and Investment and public debt.

Financial concurrence and advice.

Compilation of Codes, Rules and procedures concerning financial transactions and having bearing on State finance and their implementation.

Safety and investment of funds from consolidated funds, contingency fund and public account.

Contract, recovery and refund of revenue etc

Time value of Money is one of the indispensable concept through which the entire money market revolves. It is better understood that Re.1 today adds more value than Rs.10 tommorow, since the prospective earnings is uncertain and risky. So, Time value of money concept helps to discount that uncertainity and give probability for failures and success, thereby discounting the risk to a certain extent. Inspite, Capital Budgeting will assist how to evaluate the project, the returns, and at what rate it is to be reinvested, to cover the Cost of Capital. Discount rate is one of the input for evaluation, (formerly known to be the time value of money tool) will facilitate the company to take capital budgeting decisions. By doing this, the company may be in a position to decide on type of investments, tenure and the risk factor. Present value factor will bring the future cash flows to the present value by a loss factor.

to earn more capital

Yes. Gross Profit is the earnings left over after the cost of obtaining or making the good has been subtracted from the selling price of the good. Operating expenses such as the heating and lighting in your office are subtracted from the Gross Profit to give you an "Operating Income/Loss" figure. Finally, things such as Interest revenue or Interest expense are added or deducted from Operating Income to give you a Net Income/Loss.

For example. I buy 6 widgets at a cost of $1.10 each from my supplier, and resell them for $3.50 each. My bank statement shows interest revenue of $2, and I have a telephone bill for $60.

-Income Statement-

Sales $21 .00 ($3.50 x 6 widgets sold)

Cost of Goods Sold 6.60 ($1.10 x 6 widgets sold)

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Gross Profit $14.40

Operating Expenses:

Telephone Bill 60.00

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Operating Loss $(45.60)

Non-Operating Expenses:

Interest Revenue 2.00

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Net Loss $(43.60)

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According to Worldwide-Tax.com a CESS is an education tax in India. Site referenced: http://www.worldwide-tax.com/india/india_tax.asp.

benefits of accelerated depreciation #provide a greater tax shield effect than other methods (SL or UOP). #Higher cash flow and lower maintenance costs when equipments are in good condition

Reliability

The Absorption Cost all manufacturing costs; this includes:

- direct materials (those materials that become an integral part of a finished product and can be conveniently traced into it) - direct labor (those factory labor costs that can be easily traced to individual units of product. Also called touch labor) - both variable and fixed manufacturing overhead in the cost of a unit of product. As a result, under absorption costing, fixed overhead is a product cost until sold.

An organizational budget is a target in that it establishes boundaries for how much money could be spent on one particular area of department or competency. The budget may not be laid in stone but provides a guideline for how operations need to function in order to stay within a maximum goal of money spent

NCR means Net Commodity Rate.

It involves all the rates from manufacturing / making charges, packing, transportation, etc.. up to reaching the customer.

Therefore NCR = (making + pack + Logistic + etc) - Reductions

Sikander.

They maintain the general ledger which is all the financial transactions of the business. They usually are responsible for paying bills and collecting cash from customers. They also prepare the company's financial statements. Depending on how complex the organization is, they may have a number of other responsibilities like handling taxes, but those are the standard, basic ones. It's a very important (even if not exciting) function for a business.

no, desks would not be considered a leasehold improvement. You are able to remove these items (take them with you when you go)

*****They desk is considered furniture and fixtures and should be depreciated over 7 years, unless you elect to take advantage of section 179.

A budget is really just a plan for how to spend money. Here are some steps to follow to put together a simple budget: Keep track of everything you spend for a month or more.

A limitation of a budget is that they may not account for the fact that monthly expenses are not always the same. They may also fail to address unexpected expenses.