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Essay / Research Paper Abstract
This 10 page paper considers the statement that budgetary controls will save more than they cost to implement. The writer argues that this may be true in most cases, but not all. The bibliography cites 10 sources.
Page Count:
10 pages (~225 words per page)
File: TS14_TEbudget.rtf
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Unformatted sample text from the term paper:
Where there is any system of control or monitoring is put into place there will be a plethora of associated costs. These will be both direct costs, such as the
costs of the systems involved, and indirect, such as the additional time taken up in preparing the figures and the supervision of the figures that are being monitored and the
opportunity cost of how that labour and effort may have been otherwise employed. The calculations that needs to take place with any scheme
of this type is whether or not the savings that will result will be greater than the costs incurred. If the answer is no then the scheme is not
worth implementing, unless it is adjusted so that the balance of the equation is changed. When we consider this in terms of
a budget it appear to be commonsense that a budget should be controlled, where it is not there is not only the risk of lost funds and over spends but
also the increased risk of misappropriation of funds and lax use of funds. If we are consider the subject in order to ascertain in controls may be seen as const
effective in controlling a budget we first need to proceed with consideration of what we mean by a budget. The
role of the budget is to control the costs and therefore the profits. It is also important in the short term for cash flow as there needs to be an
ability for a company to be able to pay their suppliers and creditors in the short term. Therefore, budgets can be seen as an important mechanism for controlling a company.
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