Neuroscience is the study of the function of the nervous system and brain, and this includes fields such as psychology, psychiatry and physiology. Neuroscience marketing considers the findings and research generated by these areas to influence a customer’s buying decision. While this sounds sophisticated, it’s not that difficult to understand and implement. All you need to do is to tap into your customer’s subconscious mind. Well, maybe that does sound complex, […]

A budget can be defined as an itemized listing of the amount of all estimated revenue or income which the school anticipates receiving, along with a listing of the amount of all estimated costs and expenses that will be incurred during a given period of time (Wango Geoffrey, 2009:211). A school budget can be defined as a document or statement outlining a school’s revenue (income) […]

Excessive Borrowing: Our Federal Government’s Budget Deficit Maria comes home one day earlier than usual. Her family, two daughters of age five and eight and a stay-at-home husband, is surprised to see her so early and unexpectedly. The tired look on her face reveals the experience she had at work. She brings out a sluggish smile as her daughters rush up to greet her with […]

There are a different number of budget approaches that an organization can adopt, namely incremental budgeting and zero-based budgeting. Incremental budgeting as its name implies is a procedure that is mainly based on the past costs of the company.  Indeed, expenditure is determined by referring to what was spent last year and adding an additional percentage to cater for inflation and other cost driver forces.  […]

Despite a 14.5 per cent rise in domestic revenues and external grants extended to the Kingdom in 2007, the state budget recorded a deficit of 5.4 per cent of the gross domestic product (GDP), according to official figures released Monday. Although the country recorded a JD502.5 million increase in domestic revenues and grants, the 2007 budget deficit stood at JD614.5 million, an increase of 1 […]

Riordan Manufacturing Inc is an international company specialized in the manufacturing of plastic products. Based in USA, Riordan Manufacturing has manufacturing plants in Georgia, Michigan, Albany and Pontiac. To achieve international status, and produce high quality products, Riordan Manufacturing has opened another plant in Hang Zhou in China. One of the aims of the Riordan manufacturing is to remain competitive in order to achieve market […]

The given information with respect to annual estimated receipts and expenditure are as follows (Fig. in dollars) ANNUAL ANTICIPATED RECEIPTS ANNUAL ANTICIPATED EXPENDITURE Salary from a part-time job 10000 Tuition 4500 Salary from a Summer job 4000 Books 400 Rent 3500 Food 2500 Utilities 800 Entertainment 4000 Deficiency (-) 1,700 Total receipts 15700 Total expenditure 15700   Ted Frey anticipated cash receipts for the entire […]

Master budget preparation Sopchoppy Company manufactures a red industrial dye. The company is preparing its 2000 master budget and has presented you with the following information. The December 31, 1999, balance sheet for the company is shown below. SOPCHOPPY COMPANY Balance Sheet December 31, 1999 AssetsLiabilities and Stockholders’ Equity Cash $ 5,080 Notes Payable $ 25,000 Accounts Receivable 26,500 Accounts Payable 2,148 Raw Materials Inventory […]

As with most states in the Union, the State of Florida faces a looming budget crisis. Revenues are down, expenses are up. Localities are raising taxes on individuals many of whom are already facing job and home losses. The business community is in a recession, drastically reducing tax revenues especially at the state level. There is already a growing backlash against Federal spending and the […]

Every organization needs to plan and consider how to confront future potential risks and opportunities. In most cases, this process is formalized by preparing annual budgets and monitoring performance against budgets. “Planning is the design of a desired future and of effective ways of bringing it about” (Ackoff, 1981). But a distinction is often made between short-term planning and long-range or strategic planning. Budgeting is […]