5. Sales predictions based on previous sales are considered final in making the financial plan. 6. The long-term financial plan need not be congruent to the vision of a business. 7. The vision of the business defines its short-term financial direction. 8. Financial goals are broader than financial objectives 9. The production schedule is prepared ahead of the sales forecast 10. The financial plan is easily prepared and becomes logical if the expected cost and expenses are determined first.
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- This type of operational planning may cover the medium‐term needs of the business including budgeting, the purchasing and supply system and organisation thereof, purchasing and supply methods, negotiation and development of human resources. (1) Strategic level planning. (2) Tactical or middle‐management planning. (3) Operations level planning. (4) Operational planning. (5) Short‐term planning. This is in fact a production or operations scheduling system and not an inventory control system. It eliminates the holding of inventory and is based on requiring suppliers to deliver materials of the right quality to the business on the day they are needed and where they are needed. (1) Cyclical‐ordering system. (2) Materials‐requirements planning. (3) Just in time. (4) System of fixed‐order quantities. (5) Quick response system.This type of operational planning may cover the medium‐term needs of the business including budgeting, the purchasing and supply system and organisation thereof, purchasing and supply methods, negotiation and development of human resources.(1) Strategic level planning.(2) Tactical or middle‐management planning.(3) Operations level planning.(4) Operational planning.(5) Short‐term planning. pick which fits the questionA. Write a document with the following information: 1. What do you expect your job to pay when you start? 2. What benefits are musts for you? 3. What benefits would you like to have even though they are not musts? 4. Include the graph you generate in step B below. B. Create a spreadsheet and a graph of life vs funds For each year of your remaining life specify the amount you plan to save/invest/withdraw that year and how much you expect that amount to increase during the year (base on actual data – typical savings interest rate, typical stock market interest rate, typical CDs, typical…). Calculate how much your funds will increase/decrease over your life and create a life (x-axis) vs funds (y-axis) plot.
- Which type of preliminary estimate would be the best in each of the following situations and explain your answer rationale. a. Decide whether it is feasible to proceed with constructing a new small office building. b. Establish the budget for a bond issue to build three new elementary schools. c. Evaluate which of three alternate designs best fits the budget for a new clinic.A budgetary planning and controlsystem may include many individual budgets which are integrated into a ‘master budget’.You are required to outline and briefly explain with reasons the steps that should normally be taken in the preparation of master budgets in a manufacturing company, indicating the main budgets which you think should normally be prepared.In the planning hierarchy, plans dealing with organization-wide objectives, long-term plans, and the total budget would be classed as a. annual plans. b. daily and weekly plans. c. operational plans. d. tactical plans. e. strategic plans.
- Which of the following components of the master budget must be prepared before others?A. Production BudgetB. Raw Materials Purchase BudgetC. Direct Labor Peso BudgetD. Cost of Goods Sold Forecast11. Warren's Milk Tea Shop is talk of the town. As an owner, he wants to know the possible challenge he will encounter in the next three years. What technique he should use? A. Contingency Planning B. Benchmarking C. Forecasting D. Scenario Planning 12. In year 2017, the strategic planners of Sheena Cosmetics implemented the pandemic allowance and assistance for all the employees in case there will be any pandemic happened that can affect the efficiency and safety of all the employees. And in the year 2020 and up to this day, COVID-19 became the global problem. And the employees of Sheena Cosmetics were very thankful for the assistance given ahead of time for their safety. What planning technique did the company used? A. Contingency Planning B. Forecasting C. Linear Programming D. Scenario Planning 13. Below are the advantages of division of work or labor ЕXCEPT A. Creates job specialization B. Increase productivity C. Higher degree of control. D. Job given can be fit based on…Assume that a company provided the following information and assumptions from its master budget: Sales budget: Unit sales in June, July, and August are 20,000, 18,000, and 17,000, respectively. The selling price per unit is $80. All sales are on account. 20% of sales are collected in the month of sale and 80% are collected in the next month. What are the budgeted sales for July? Multiple Choice $1,440,000 $1,600,000 $288,000 $1,152,000
- The purpose of this assignment is to evaluate the impact of a financial analysis on administrative decisions in a health care organization. Review Northwestern Memorial HealthCare's "Consolidated Financial Report" (Years Ended August 31, 2019 and 2018), and answer the following prompts. Discuss the importance of and need for a financial analysis within a health care organization. Explain the relationship between a health care organization's financial plan and debt policy to its strategic plan. Assess the financial position of Northwestern Memorial HealthCare in 2019 as compared to 2018. Give specific examples of areas where improvement is needed or areas that should be of concern in terms of financial viability. Based upon these observations, make recommendations that management should consider from a strategic standpoint (i.e., strategic budgeting methods).A SWOT analysis is a strategic planning tool that evaluates a company's competitive position in the marketplace. ) a) True () b) FalseManage Your Health, Inc. (MYH) is a Fortune 500 company that provides a variety of healthcare services across the globe. MYH has more than 20,000 full-time employees and more than 5,000 part-time employees. MYH recently updated its strategic plan; key goals include reducing internal costs, increasing cross-selling of products, and exploiting new Web-based technologies to help employees, customers, and suppliers work together to improve the development and delivery of healthcare products and services. Below are some ideas the IT department has developed for supporting these strategic goals: 1. Recreation and Wellness Intranet Project: Provide an application on the current intranet to help employees improve their health. A recent study found that MYH, Inc. pays 20 percent more than the industry average for employee healthcare premiums, primarily due to the poor health of its employees. You believe that this application will help improve employee health within one year of its rollout so…