Budget Control and Variance Analysis
Added on 2020-05-16
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Running head: MONITOR AND CONTROL FINANCESMonitor and Control FinancesName of the Student: Jamal-ud-dinName of the University:Student ID: 201404606Assessment Task no: 3
MONITOR AND CONTROL FINANCES1Table of ContentsIntroduction......................................................................................................................................2Expenditure Overruns......................................................................................................................3Reasons for Expenditure Overturns.................................................................................................4Recommendations............................................................................................................................4Reference.........................................................................................................................................6
MONITOR AND CONTROL FINANCES2IntroductionThe main purpose of this assessment is to analyze the marketing budget of Naja Group ofColleges and determine whether there are any variances between the actual expenditure and theprojected business expenditure (Halinen, 2012). The management of the colleges have tomaintain the budgeted and actual expenditure in order to reveal the variances which occurs andalso find the reason for such variances and also incorporate measures which can rectify thesituation (Hofstede, 2012). The budgeted control statement as prepared by the management ofNaja Group of Colleges are given below:Marketing Budget Variance2016-17Quarter 12016-17Quarter 22016-17Quarter32016-17Quarter 4TotalBudgetTotalActualVarianceItemsBudgetActualDifferenceBudgetActualDifferenceBudgetActualDifferenceBudgetActualDifferenceRedesign websites to improve Branding $ 1,250.00 $ 2,000.00 $ 750.00 $ 1,250.00 $ 2,000.00 $ 750.00 $ 1,250.00 $ 1,000.00 $ 250.00 $ 1,250.00 $ 890.00 $ 360.00 $ 5,000.00 $ 5,890.00 $ 890.00 Design an Incentive schemefor referrals by students $ 600.00 $ 600.00 $ - $ 600.00 $ 750.00 $ 150.00 $ 600.00 $ 750.00 $ 150.00 $ 600.00 $ 600.00 $ - $ 2,400.00 $ 2,700.00 $ 300.00 Radio Advertisement Campaign $ 2,500.00 $ 2,500.00 $ - $ 2,500.00 $ 2,500.00 $ - $ 2,500.00 $ 2,500.00 $ - $ 2,500.00 $ 2,500.00 $ - $ 10,000.00 $ 10,000.00 $ - Online Communication $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - $ - Stand at VC career Expo 2016 $ 825.00 $ 2,000.00 $ 1,175.00 $ 825.00 $ 825.00 $ 825.00 $ 1,800.00 $ 975.00 $ 825.00 $ 825.00 $ 3,300.00 $ 3,800.00 $ 500.00
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