Wednesday, February 26, 2020

Understanding Management accounting and Financial Management Dissertation - 1

Understanding Management accounting and Financial Management - Dissertation Example Understanding Management accounting and Financial Management In the modern business environment, budgeting provides a feasibility analysis of the present and future needs of the capital needs and resources. The usefulness of budgeting as a management control tool is very significant. Preparing budgets is the financial basis for modern business environments as it enables organizations to establish milestones, determine the internal and external potential of the business to the managers and the investors respectively. Many companies find it difficult to prepare budgets but its importance cannot be overlooked. Budgeting can provide benchmarks for the organizations and managers as how to conduct and control the operating activities so as to meet the required target provided by the budgets. Later on, the budgets can be compared with the actual results which can provide an analysis where improvements need to be made and which area needs more controlling. Since organizations can prepare many types of budgets such as sales budget, production cost budget, expense budget and so on, cash budget remains the backbone of the other budgets. The process of budgeting can facilitate the integration of goals of employees, teams and organization as a whole. If the budget is thought about as a control system, then in context with the modern business environment, it is necessary that all levels of organization participate in the process of budgeting so that when actual results are acquired, it can be compared against the budgets and measures of improvement can be suggested. (Davidson, 2009). In case of South-guys Partnership Ltd there are many ways in which the cash budget can facilitate management of control. Since the cash budget enables to plan to the usage of cash efficiently, it shows where the company has cash surplus in a given a time period and where it has deficiency thus enabling the management to make arrangements before the deficiency actually occurs or in other case, make plans for investing the surplus cash in other profitable ventures (Shim and Siegel, 2008). This is main advantage of cash budget that South-guys Partnership Ltd can use to create a better and efficient cash flow for their organization. Thus budgeting has the capability to provide forecast for the future needs of cash or funds before the organization can actually face the crisis. It allows for planning and raising of funds at reasonable costs and terms from many different sources (Rickards, 2006). In addition to this, modern business environment requires businesses to maintain liquidity the basis of which is cash requiring companies to maintain a minimum margin of cash according to

Sunday, February 9, 2020

American Revolution and Early British Colonies Essay

American Revolution and Early British Colonies - Essay Example Thomas Paine, Thomas Jefferson as well as Alex Hamilton who were great advocates of the republicanism and advocated the formation of a united country based on different British Colonies. Patriots were the people who actually declared independence of thirteen British Colonies to form what is now called United States of America.The writings of Samuel Adams specially his circular letter resulted into the famous Boston Massacre. His writings are considered as one of the key efforts towards the development of an environment which led to the revolution.Thomas Paine’s Common Sense is also considered as one of the most important contribution towards the events leading to the revolution. In this book, Paine extensively advocated the separation of America from United Kingdom. His series of writings with the name of The American Crisis is also considered as important contribution towards the actual revolution which however, materialized after some period of time.The Massachusetts Bay Col ony was owned by the Massachusetts Bay Company and covered most of the areas which are now part of the New England. In Virginia, the first colony established was the Jamestown near Chesapeake Bay and it was financed by the London Virginia Company. Plymouth Colony was established by the people who escaped the religious wrath of the English Authorities whereas Cape Ann was also established as a fishing village in the region. (Taylor) The similarities between these colonies suggest that they were established for the purpose of achieving economic good.