This chapter contains sections titled:
Goal Congruence
Profit Targets
Objectives in the Profit Plan
Role of Nonfinancial Managers
Assumptions
Alternatives
Responsibility
Participation
Subordinates
...Coordination
Scheduling
Problems
Control, Evaluation, and Analysis
Internal Controls
Real–Life Illustrations in Profit Planning
Summary
This chapter contains sections titled:
Planning
Types of Budgets
Budgetary Process
Budget Coordination
Departmental Budgeting
Actual Costs Versus Budget Costs
Budget Revision
Budget Weaknesses
...Budgetary Control and Audit
Computer Applications
Motivation
Advantages and Disadvantages of Budgets
Budgetary Slack: Padding the Budget
Summary
LR Project is the most important method of the urban development in Japan, but now facing the big financial difficulties by the fall of the land value and the changing of the demand on urban land. ...Therefore we have to pay careful attention to the financial issue on the projects much more than before. As far as the LR Project, its financial plan is made by the Implementation body. And the Implementation Body of the LR Project has the strong power in every aspect. Whether the project can get the success or not may depend on the ability of the Implementation Body. This study aims to show the general characteristic of the relation between Implementation Body and the financial plan of the LR Project.
The financial management of school principals in Slovenia is very high according to the Slovenian legislation. The school principal is usually accountable for setting the internal controls. The main ...thesis of paper says school management in Slovenia has no system developed to facilitate the transfer of internal control knowledge from legislation to school management. Internal controls are integral parts of financial management in schools. The most effective way of internal control in schools is risk management. The aim of the paper is to identify advantages and weaknesses in the area of internal controls and risk management in Slovenian schools. Experimental results indicate some advantages in school internal control and risk management. The school principals are aware the importance of the inventory check as one among the control mechanisms and they are wishing to acquire more knowledge of internal controls and risk management. There are some most common weaknesses in internal controls and risk management. For example school principals are not awared that internal control and risk management need to be treated as a necessary component of responsible school financial management. So they do not report in their financial plans and annual reports on internal controls and risk management. Based on research, the study reports on necessary contents of Risk Rules for internal controls and risk management as a tool for facilitating the transfer of internal control knowledge to school managers.
This chapter reviews the necessary elements of a financial plan presentation in the context of communication effectiveness, client trust and relationship commitment, and the need to motivate client ...action. There are at least five elements that must be communicated to clients during a financial plan presentation: client goal(s) review; assumptions; observations and findings; alternatives; and recommendations. Expressing these elements effectively is essential if a client is to fully understand, embrace, and act upon a planner's recommendations. Financial planners who highlight each of the five elements during client meetings are known to improve client‐planner relationships. Basically, communication effectiveness has been shown to be a significant antecedent to client trust and relationship commitment. The chapter also discusses some specific communication techniques that may be employed to enhance the process. It highlights issues related to verbal and non‐verbal communication, as well as providing an applied vignette.
We are currently experiencing a revolution in the world of social impact with the rise of social enterprises that are blurring the line between not-for-profit and for-profit ventures. The Social ...Enterprise Alliance defines a social enterprise as an organization that “advances its social mission through entrepreneurial, earned income strategies.” Social enterprises can be both for-profit firms with a social mission and not-for-profit organizations that take a business approach to achieving their social mission (Social Enterprise Alliance 2005).
Social entrepreneurship has been gaining significant momentum in the USA and Europe and is spreading to other parts of the world as well. Social entrepreneurs are working across a number of sectors, including international public health. For managers of nongovernmental organizations (NGOs) and community-based organizations (CBOs) in developing countries, it is important to examine this new trend and determine whether there are elements of this new model that are appropriate for them. Increasingly we are seeing that many NGOs and CBOs working in the public health field are focusing on improving sustainability within a changing funding environment. In this chapter, I examine the reasons behind this new focus on sustainability, provide a definition of sustainability, offer suggestions for planning for sustainability, and identify how social enterprise strategies can assist NGOs and CBOs to build a financially viable organization.
It is necessary to select proper reduction methods and to calculate reasonably reduction amount for making good practice of the reduction scheme. Moreover, it is suggested that the reduction amount ...have to be distributed properly during the planning period. In other words, it has not to be concentrated on the specific year (especially final year of the planning period). The reason why, if the reduction amount concentrate on the final year of the planning period, allotment loading amount could not be achieved in some cases (e.g., insufficiency of budget, extension of construction duration). Even though much of the budget have been supported from national treasury (about 50%), it is thought the role of the local government must be strengthened gradually.
It is necessary to select proper reduction methods and to calculate reasonably reduction amount for making good practice of the reduction scheme. Moreover, it is suggested that the reduction amount have to be distributed properly during the planning period. In other words, it has not to be concentrated on the specific year (especially final year of the planning period). The reason why, if the reduction amount concentrate on the final year of the planning period, allotment loading amount could not be achieved in some cases (e.g., insufficiency of budget, extension of construction duration). Even though much of the budget have been supported from national treasury (about 50%), it is thought the role of the local government must be strengthened gradually. KCI Citation Count: 8
Cost Management Greiman, Virginia A
Megaproject Management,
2013, 2013-06-13
Book Chapter
This chapter contains sections titled:
Introduction
1. The Project Budget Process and Cost History
2. Cost Centers
3. Cost Management Team
4. Data Resources
5. Cost Control Tools
6. Strategies to ...Address Cost Escalation
Lessons Learned
Summary
Ethical Considerations
Discussion Questions
References
A Fiduciary System Assessment (FSA) was carried out in accordance with OP/BP 9.0 that evaluated the fiduciary systems pertaining to the Health System Quality and Efficiency Improvement Program for ...Results. The integrated fiduciary assessment comprised separate assessments of the fiduciary risks relating to the programs: (i) procurement; (ii) financial management; and iii) governance. The objective of the assessment was to provide reference that could be used to monitor fiduciary system performance during the implementation of the above referenced operation, as well as to identify actions, as relevant, to enhance the performance of the systems. Findings from the assessment, as well as a review of existing analytical and diagnostic work , conclude that the overall fiduciary and governance framework is adequate to support the implementation of Croatia's Health System Quality and Efficiency Improvement Program for Results and includes summary table of the key risks and the corresponding mitigation actions identified. This report is organized along the following lines: presentation of institutional arrangements and national framework; review and assessment of Program fiduciary systems and, including a discussion of baseline performance measurement and indicators, as well as fiduciary risk. While governance and anti-corruption issues are featured prominently throughout the various national systems, institutions, and functions, the report presents these issues in a separate section. Finally, the report includes inputs to the implementation support plan as well as a number of supporting annexes.
The Future of Financial Planning Software Drucker, David J; Bruckenstein, Joel P
Technology Tools for Today's High-Margin Practice,
2013, 2012, 2012-12-17, Letnik:
171
Book Chapter
