Jun 23, 2018 · What weaknesses does Fantastic, Inc. have? The company needs to consider its costing as the gross profit margin of the firm is low. The cost of production grows at a much higher rate than that of the salesThe company also needs to consider its selling and administaritive expenses as they also grows at a fast rateThe net income is lower than that of …
Nov 05, 2017 · What weaknesses does Fantastic, Inc. have? The sales of super paint has declined from 420,000 units in 2012 to 418,000 units in 2013. Accounts receivable has increased by 16% percent Accounts payable has also increased by 16% percent. Cost of goods sold increased by 13% What are your recommendations?
Jan 15, 2018 · What weaknesses does Fantastic, Inc. have? This projection is based on the idea that sales of the new, higher quality paint will continue to grow at It seems to be too positive an outlook that those sales will not level off.
Oct 16, 2015 · Strengths & Weaknesses - and Recommendations What strengths does Fanciful, Inc. have? Product Cost Margin Super 10.30 9.22 1.08 420,000 418,000 (2,000) Stupendous 15.45 11.50 3.95 268,200 321,840 53,640 The forecast for 2013 is an increase in the more profitable product. This will result in higher margins and net income. and\or create new products that are …
Budgets are primarily concerned with the allocation of cash to specific activities, and the expected outcome of business transactions - they do not deal with more subjective issues, such as the quality of products or services provided to customers.
The disadvantages of budgeting. There are several disadvantages to the use of budgeting within a business, which are as follows: Time required. It can be very time-consuming to create a budget, especially in a poorly-organized environment where many iterations of the budget may be required. The time involved is lower if there is a well-designed ...
Traditional budget systems focus on expenditures. P-Based Budgeting focuses on outcomes. Managers have been actively asking themselves during the past couple of years, “What are the desired results for each department’s budget?”; “What can I expect from the balanced budget?”
Performance based assessment is most commonly known as and educational assessment which judges the student knowledge and skills based on observation of the student behavior or the inspection of students products. On the other hand, standardized testing is a written form test, which measures the temporary understanding of facts and skills. As a result of standardized testing outcomes being ...
Budget Weaknesses. The signs of budget weaknesses must be spotted so that corrective action may be taken. Such signs include: Managerial goals are off target or unrealistic. There is management indecisiveness. The budget takes too long to prepare. Budget preparers are unfamiliar with the operations being budgeted and do not seek such information.
Managers are ignoring their budgets because they appear unusable and unrealistic. Managers feel they are not getting anything out of the budget process. Changes are made to the budget too frequently. Significant unfavorable variances are not investigated and corrected. These variances may also not be ... Get Budgeting Basics and Beyond now ...
If managers do not understand the information, they will not perform their functions properly. The budget document is excessively long, confusing, or filled with unnecessary information.
Budget preparers do not keep current. The budget is prepared using different methods each year. There is a lack of raw information going into the budgeting process. There is a lack of communication between those involved in budgeting and operating personnel.
There are three tips you can use to get everyone involved with budgeting: Talk about it. You should sit down with your family and discuss the changes and why budgeting is important. Make sure everyone is heard but drive home the importance of sticking to a budget and its benefits. Create financial goals together.
There is no set limit on how many times you should look at your budget. In fact, at the beginning, you should probably look over your budget monthly to make sure it’s working the way you want. Again, it will also need to be adjusted throughout the year to meet different financial obligations.
There are three tips you can use to get everyone involved with budgeting: 1 Talk about it. You should sit down with your family and discuss the changes and why budgeting is important. Make sure everyone is heard but drive home the importance of sticking to a budget and its benefits. 2 Create financial goals together. A great way to get everyone on board is to create a financial goal that everyone is interested in. For example, everyone may be excited about going on vacation or getting a pool. It’s easier to get your family involved when you show them the prize. 3 Reward yourself. Speaking of prizes, rewarding yourselves for sticking to a budget is a great way to keep everyone on track. Whenever there is money left over at the end of the money from groceries or whatever, do something together as a family. Go to the movies, eat out, etc. Your family will work harder each month to ensure they get rewarded.
People not only fear change, but they also fear facing the truth. It can be scary to make such drastic changes to your spending habits. However, it can be even scarier to take a hard look at your spending habits. Many people have no idea just how bad their spending is until they start tracking their expenses.
People expect for a budget to work overnight when in reality it takes time to see results. You will struggle in the beginning as you adjust to spending a set amount on certain things, such as groceries.
Traditional budgeting may also be termed incremental budgeting, where the word 'incremental' is considered to relate to the small (in relation to the total costs) changes in cost which occur in any business, year on year, as activities change.
A Can all a company's activities be identified - is it necessary to analyse them all?
1 A company had a fleet of leased cars for staff, leased under three-year agreements. Ten years before, an employee had left after one year into a lease. The company had to keep paying the lease and the car, but at least used it as a pool car. Nine years later, when applying the ZBB concept, the accountant asked: 'Why do we have a pool car?'