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Essay / Research Paper Abstract
This 8 page paper examines the way in which budgeting process may take place within a large organization, such as Hewlett-Packard. The paper considers the formation and negotiation associated with the creation of operational budgets and then considers the tools may be used in capital budgeting. The bibliography cites 6 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEHPbudget2.rtf
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Unformatted sample text from the term paper:
control costs as well as track progress against set goals with consideration given to both operating and capital budgeting. Looking at the process that may be used the various issues
ands complexities may be appreciated. To assess the budget process we first need to define what is meant by a budget. The Institute
of Cost Management Accountants describe a budget thus; "A financial and or/quantitative statement prepared prior to a defined period of time, of the policy to be pursued during that period
for the purpose of attaining a given objective. It may include income, expenditure and the employment of capital" (Chadwick, 2007). Therefore, we can see it is a predetermined plan that
is used to determine the way a business uses its resources. Budgets at HP are set by reference to many items such as the current and objectives trading status and
ability of the company as well as the goals and objectives it wishes to achieve as well as consideration to capital expenditure as well as cash flow. There must
also be consideration to the way in which the will be monitored. There will also need to be the inclusion of estimates. The
basic process begins with forecasts for sales on the part of most divisions, which are then used to assess the associated costs. The sales budgeting is not usually a one
stage process, as there will be the feeding in of many different departments or subunits into this process. There will be known associated costs with the sales as well as
assessed overheads that will be estimated. Projections based on increased process that are already known or expected, as well as the use of econometric modelled based on elasticity figures and
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