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operational financial management, team 3 - Coggle Diagram
operational financial management
Budget
an estimation of revenue and expenses over a period of time.
Framework aims
Communications
Motivation
Control
Coordination
Planning
Evaluation
type of budgets
Annual operating budget
A budget built on an annual basis which outlines the revenue and costs connected to the planned activities of the LTO
Life of Project budget
A budget built specifically for a project's income and costs
Capital budget
A separate budget developed for capital expenditures such as large equipment purchases, buildings etc.
two main approaches
Baseline
Takes last year's budget or actual income and costs as the starting point.
Zero-Based Budgeting
: Builds a budget from a scratch based on income targets and the costs needed to fulfill the LTO's activities.
Revenue
is the amount of money an LTO earns over a period of time
sources
Programme sponsorship
Individual tuition
Participant cost
Costs
Costs are those to be incurred by the programme or activity for which a budget is being created.
INDIRECT COSTS
Rent
Utilities
Administrative costs (management salaries and costs)
Insurance
Property tax
Maintenance
START UP COSTS
costs that must be incurred an one-time basis to initiate a course or activity.
Marketing and promotion
Course development
DIRECT COSTS
Teaching or course provision
Materials (textbooks)
Copying materials
Communications
Postage
Food service
Budgeting monitoring & control
Budget reporting
Budget reports are the mechanism to show what the picture looks like.
BUDGET ADJUSTMENTS
can be done at the end of a budget period to see where budgets have changed
Cash Flow
used to analyse the liquidity position of the company
team 3
Cyntia Abigail Garcia Izaguirre
Liliana Veronica Aguilar Castillo
Andres Ulises Ortega Garcia
Narda Valeria Cisneros Lopez