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Essay / Research Paper Abstract
This 6 page paper examines budgeting and budgeting procedures in an organization. McDonalds is used as an example where there is budgeting on an annual as well as a daily basis. The different processes and controls are considered and compared to budgeting theory. The bibliography cites 2 sources.
Page Count:
6 pages (~225 words per page)
File: TS14_TEMcDbudg.rtf
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their budgeting, but whatever company is assessed there will be different types of budgeting undertaken over different periods of time. When looking at the way a firm budgets the processes
can be outlined in considered and then compared against the theoretical aspects of budgeting processes. In looking at an example, a fast food chain, such a McDonalds may be utilized1.
Budgeting takes place at all levels within the company. The most obvious type of budgeting will be the annual budgeting which covers an entire franchisees group of businesses, and is
also undertaken by the firm. The annual budget will determine the way in which expenditure will take place on major items, and outline the expected expenditure and revenues over the
year. This budget will include items such as marketing, renovations as well as assessing the costs and profitability of each individual unit. Different departments will be given specific budgets that
are to be used throughout the year, some of these may not be directly linked to the performance of the firm; for example the training budget is set at least
a year in advance is only revised if there are extraordinary circumstances. Budgeting also takes place at the lower level. In addition to a full company budgeting each individual
stalls also have a budget. This will be tied in to unexpected level of sales. The general approach is to pace the assessment on the previous year, allow for any
increase in prices and then protect an increase in terms of the volume sales the to unexpected. There does appear to be a distinct pattern where increases are expected, and
even less circumstances dictate to them may be decreased, such as the closure of local facilities reducing the foot fool outside of the store, there is a reluctance to reduce
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