Manage Budget and Financial Plan - Desklib

Running head: MANAGE BUDGET AND FINANCIAL PLAN
Manage budget and financial plan
Name of the Student
Name of the University
Author Note

MANAGE BUDGET AND FINANCIAL PLAN
Table of Contents
Part A:........................................................................................................................................2
Answer to question 1:.................................................................................................................2
Answer to question 2:.................................................................................................................2
Answer to question 3:.................................................................................................................2
Answer to question 4:.................................................................................................................3
Answer to question 5:.................................................................................................................3
Answer to question 6:.................................................................................................................4
Answer to question 7:.................................................................................................................5
Answer to question 8:.................................................................................................................5
Answer to question 9:.................................................................................................................6
Answer to question 10:...............................................................................................................7
Answer to question 11:...............................................................................................................7
Answer to question 12:...............................................................................................................8
Answer to question 13:...............................................................................................................8
Answer to question 14:...............................................................................................................8
Part B:.........................................................................................................................................9
Answer to question 1:.................................................................................................................9
Answer to question 2:.................................................................................................................9
Answer to question 3:...............................................................................................................10
Answer to question 4:...............................................................................................................10
Answer to question 5:...............................................................................................................11

MANAGE BUDGET AND FINANCIAL PLAN
Answer to question 6:...............................................................................................................11
Answer to question 7:...............................................................................................................12
Answer to question 8:...............................................................................................................13
Bibliography:............................................................................................................................14

MANAGE BUDGET AND FINANCIAL PLAN
Part A:
Answer to question 1:
In order to estimate the wage rates based on hourly basis, manager make use of
payroll. Moreover, for estimating the cost of suppliers that is based on actual invoices that are
submitted for doing the payment, accounts payable can be used.
Answer to question 2:
Examples of external banking records for the purpose of record keeping can be
categorized into cash boo records, general account book and banking records. Information
from the general account book include general and subsidiary ledger along with general
journal. Other banking records that are external include bank reconciliation, credit card
statement and cheque butts and deposit books. Records of cash book such as payments and
receipt.
Answer to question 3:
The documented outcomes in an organization can be obtained from the management
personnel and the person who is responsible for managing books of account and document
information. On other hand, information about competitors, customers and business
competitors can be obtained from higher level executives and personnel in the senior
management level1.
1 "Contents: European Financial Management 5/2016" (2016) 22(5) European Financial Management