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Budgeting and Budgetary Control:
The next element of financial management is budgeting and budgetary control. Budgeting is an integral part of the management accounting process, allowing organisations to project into the future using historical data.
Budgeting is generally short term with an accepted maximum of one year into the future (either financial or calendar). Budgeting however can be broken down into smaller increments to include quarterly, monthly, or even weekly budgets. How far budgets are broken down depends on the organisation itself and its capacity to resource the bookkeeping and ongoing reporting requirements that short term budgets command.
Cash vs. Accrual Accounting: While it is beyond the scope of this module to assess accounting systems against all types of accounting styles, it is important that managers unde
Fixed Costs The costs a rigid incurs doing business that do not change in relation to production. Rent, for example, is a fixed cost because it remains constant whether product
Why do total assets equal the sum of total liabilities and equity? Explain. Assets = Liabilities + Equity Assets are the items of value that a business owns. Liabilities ar
Define the meaning of rate of return on investment An investment project which provides positive NPV when its cash flows are discounted by cost of capital makes a net contribut
Free Cash Flow Free cash flow presents the amount of cash generated by the existing operations of a corporation and that is not needed for reinvestment in new projects in the f
Securitization refers to conversion of illiquid assets to liquid assets by converting longer duration cash flows into shorter duration ones. Securitization denote
Out of Cash Calculated by taking organization cash on hand divided by its burn rate, yielding the time period that the organization will have enough cash to cover what it wants
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Discuss how a business might limit agency problem between management and creditors
Country analysis and political risk Country analysis could use tools for example PEST factors in order to strategically analyse countries. Political risk
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