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Business Finance - TownScape

   

Added on  2020-06-04

8 Pages2781 Words30 Views
Business Finance

Table of ContentsINTRODUCTION......................................................................................................................3Part 1..........................................................................................................................................3Purpose of making a budget...................................................................................................3Important cost drivers for TownScape...................................................................................4Analysis of traditional budgetary system...............................................................................4Part 2..........................................................................................................................................5Alternative budget method....................................................................................................5Elements of budgeting and the potential application.............................................................6Appropriate budgeting method used on the Townscape plc company..................................6Conclusion..................................................................................................................................7REFERENCES...........................................................................................................................8

INTRODUCTIONBusiness finance is classified as a process which makes the involvement of all thebasic factors that are required to maintain the expenditure along with the financial status of anorganisation (Diebold, 2015). With the help of an efficiently and appropriately developedbusiness finance, the overall productivity of the business can increase to a huge extent. Thereport is about preparing a budget for TownScape along with the important cost drivers thatcan help TownScape. Also, it involves alternative budgeting methods that can be involved inorder to increase the overall productivity of TownScape at a higher extent. The potentialapplication of all the alternative methods have also been included in the report. Part 1Purpose of making a budgetA budget is termed as a very essential aspect of the organisation performing business on alarge platform. Usually, a budget is meant for a year only, but it can vary as well according tothe policies and rules of the government. There are enormous aspects of a budget that shouldbe ensured in TownScape and their involvement throws much influence on the operations andprocessing of the services. The purpose of a budget in TownScape is important because of thefactors that are discussed as below :A proper budget made by TownScape can help them in analysing their actual market positionthat how much they have gained the profits and also, if they have come down on the overallmarket shares. Thus, it can also be considered as an effective tool that can help in evaluatingthe overall business performance of TownScape. While analysing, if their business is goingon a higher level, then they can stay ensured but if they observe some sort of decrease in themarket shares, then they can make involvement of some modifications and improvements sothat they can again become able enough to achieve all their targets and goals, thus they canagain reach to that market position in a shorter period of time (Titman, Keown and Martin,2017). Also, if a structured and efficient budget has been made by TownScape, then it can surelyprove beneficial enough for TownScape. But the fact here which is to be ensured is that themaking of budget should involve the support and time of all the employees of TownScape. Itis because all the employees can have an appropriate rate of decision making in which theyall can represent their ideas and views. Also, if any of the employee think that there is somestrategy or technique that can help their business to increase etc. so, in an effective decision

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