Manufacturing Budget Analysis

Manufacturing Budget Analysis Assignment example
Masters
Assignment
Finance & Accounting
Pages 5 (1255 words)
Download 0
Manufacturing Budget Analysis Problems in budgetary control system of Ferguson & Son Manufacturing Company and its Impacts A Budgetary Control System (BCS) is a technique of managing as well as supervising income along with expenditure for a sustainable flow of cash for various companies…

Introduction

The subordinates were found to be pressurized to maintain and abide by the predetermined budget which was measured to be a grave issue as the stress adversely influenced the performance of the employees. The other problem was the absence of a healthy or good relation between the management and the workers after Robert Ferguson Jr. was appointed as the plant manager. He was learnt to be completely concerned towards cost reduction and attainment of the budget instead of admiring the efforts exerted by the workers and the problems witnessed by them which resulted in huge employee turnover. Furthermore, the accounting staffs were only concerned regarding budget maintenance instead of ensuring the quality of work. Installation of new machines and the time involved for setting up those machines were found to greatly hamper the working hours of the employees. The subordinate managers seemed to remain absolutely unaware of the reports of their respective performances and budgets. The foremost problem identified with regard to the BCS was the company’s adoption of a rigid approach to attain its budget requirements. ...
Download paper
Not exactly what you need?

Related papers

Budget Analysis
Budget analysis Determination of Goals and objectives of the City It is very important to determine and consider the goals and objectives of the City Council of the Ypsilanti in the initial stage of preparing the council’s budget. Knowing the goals and objectives will help me as the budget officer understand and draw appropriate boundaries that reflect mission and annual goals of the…
Budget Control Methodology
Control Centers To build a budgetary control hub together with your business clusters. Usually, responsibility centers are classified into four; investment, revenue, profits and expense. Conventionally, these are characterized by income and cash flow account. Together, these statements have ordinary interconnections, which can be scrutinized with time to achieve equilibrium. The working capital…
Manufacturing Budget Analysis
According to Emory, the augmenting amount of orders increased the time needed for adjustment and setting up of machines as well. The escalating stress in terms of orders and machine adjustments eventually began to irritate the machinists who planned not to abide by the budget. Therefore, the company must pay more focus on the mentioned procedure and its related steps because it influenced…
Healthcare Budget
In their place, it is always important to put structures that help in the effective creation and monitoring of the operating budget. To this end, this is going to be a paper that does not only prepare a comprehensive operating budget based on the previous year’s projections but it would also be a document that critically identifies some of the effective financial management practices that could…
budget
This type of budget helps corporate to have an insight on whether the available income will suffice to finance the anticipated expenditure (Millett, 2011). On the other hand, budget forecast, utilizes financial figures for previous period to come up with figures for the current period (Brookson, 2000). Therefore, it can be scrutinize that budget is a very important tool that can help to monitor…
Case Analysis-Milton Manufacturing Company
Issues at Milton Manufacturing Company …
Reduced Budget Plan U2IP
Lean production philosophy has also been covered in the research paper. Comparison has been done between accounting principles in lean production with that of typical production. The project basically throws light on the cost perspectives in an organization. Managerial Accounting Vs Cost Accounting Managerial accounting encompasses cost accounting and covers a broader scope than cost accounting.…