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Essay / Research Paper Abstract
This 4 page paper looks at the way budgeting and costing takes place at Hewlett Packard, looking at operational budgeting, the use of activity based costing and the way capital budgeting may take place. The bibliography cites 3 sources.
Page Count:
4 pages (~225 words per page)
File: TS14_TEHPbudget.rtf
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Unformatted sample text from the term paper:
has to undertake budgeting and consider issues such as costing and capital investment. HP operates within the IT industry, designing and manufacturing (often through outsource agreements) of PCs servers, network
equipment, printers and a wide range of other technology products and services. Hewlett Packard, a world leader in the IT industry, the market leader for PC sales, with a 18.1%
market share for the second quarter of 2010 and 14,955 thousand units shipped (Stevens, 2010). The firm has grown to this position by organic growth and acquisition, both of which
require careful financial control. Looking at the budgeting process there are a number of different budgets which may be seen. The main budget is the operating budget; this is
an approach that facilitates the forecasting of revenues along with expenses, and may be made up of numerous subsidiary and business unit budgets that feed into a master operating budget.
Each department or business units develops a sales budget, a labor budget and expenses budget as well as a capital budget. This is undertaken in a bottom up process where
there is not only the potential to create an accurate budget, based on the expertise of the management in the different departments, there is the potential to increase the level
of motivation and management in each department undertake a more active role within the own management and control of the department. The budgets are based on projected resource uses, with
adjustments for predicted changes in environment changes and where new products are being developed in the projects which are being launch dales projections are based on the market research reports
and projections, for costs and sales. The entire operations is supported by a high level of IT support, that facilities not only forecasting, but tracking through management accounting programs
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