Worplestrop Case Study Essay example
Masters
Essay
Finance & Accounting
Pages 8 (2008 words)
Download 0
The prime goal of every business entity is to maximize its earnings and minimize its expenses. Businesses utilize budgetary control measures to accomplish this goal. …

Introduction

Akin to all other business entities, the Worplestrop Partnership wants to develop an efficient costing and information systems for the management of their organization. This would necessitate the development of budgets, accomplishing responsibilities to achieve the goals, incessant evaluation of real performance with expected standard performance, taking counteractive actions if required in addition to revising the budgets. Assessment of the various product cost and budgetary control methodologies and systems The most commonly employed cost budgeting techniques and tools comprise of ‘strategic budgeting’ as well as ‘contingency and allowance budgeting’ (Owens, 2007). In the former technique, the management of the organization estimates the cost that might be incurred in their operational activities, however it is very difficult to accurately estimate the costs involved. The later cost budgeting technique ascertains that a suitable amount of finances is developed to provide accommodation for upcoming hazards or unforeseen expense rises. ...
Download paper
Not exactly what you need?

Related papers

Zara case study
Zara was founded by Amancio Ortega Gaona (Ortega), in 1975 and went on to become the flagship brand of the holding company, Industria de Diseno Textil, SA, popularly called Inditex, which was founded in 1979. As of 2002, Inditex operated six separate chains, that being, Zara, Massimo Dutti, Pull & Bear, Bershka, Stradivarius, and Oysho. However, each chain operates independently and is responsible…
Enron Scandal Case study
Basically those businesses prosper that have implemented systems to enhance the faith of the shareholders via transparency, responsibility and fairness (Raghavan, 2010). Carrying out of ethical business conduct would mean accepting and practicing sound corporate governance. The role of auditors is also vital in bringing good corporate governance (Fan & Wong, 2001). The main objective of the study…
Tesco Case Study
The company’s corporate history shows that “it had a market capitalisation of approximately ?24.4 billion as of 15 January 2012” (Tesco Plc’s brand licensing, n.d.). This paper will critically analyse Tesco’s financial strategy with respect to the firm’s sources of funds and dividend policy. The paper also recommends an appropriate financial strategy for the organisation. Tesco’s…
Worplestrop Case Study Report
Cost accounting method of accounting is employed in this to achieve the aims. In doing this planning as a measure of review is established, in this case budgets will always be developed to show the stakeholder the progress level reached. The reports produced and provided will be of utmost importance in that they are employed in the evaluation of the performance of the business in place and as well…
Case Study 1, Case Study 2
were never taken care of. Now it has been heard that Sweetco Inc is being sold off by its holding company to its senior management and a leading firm. Apart from this, another fact was also revealed that Sweetco received money from its holding company for its operational functions on the basis of loans. This is the reason why the CFO has asked for an extension in the credit terms to 60 days. The…
case study
However, profit and loss account does not provide information about future. (1.b) Profit and Loss Account Review: When looking at the profit and loss account of the Modern Furniture of both years, there are some items that are worth considering for decision making. The gross profit has declined by 10.75% from 2011. The major reason is the increase in the inventory cost. The other important thing…
Case study
o 600,000 sterling pounds, adding this amount to the working capital of 180,000 pounds amounts to an initial cost of 780,000 pounds. The overheads have been adjusted from the previous 47,000 pounds to 30,000 pounds in a year. Question One b i) Pay back Year Cash flow ? (?000) Cum. CF ? (?000) 0 (600) (600) 1 147,000 (453) 2 157,000 (296) 3 157,000 (139) 4 187,000 48 5 187,000 23 3 years and (139/…