Financial Planning: Budgeting and Cost Management
Budgeting: Essential Financial Planning Tool
A budget is an essential tool for financial planning and management. It allows individuals and organizations to allocate resources effectively, control spending, and work towards specific financial goals. By tracking income and expenses, a budget provides insight into where money is being utilized and helps identify areas for potential savings or investments. Additionally, it serves as a roadmap for managing cash flow and making informed financial decisions.
Read Moreမြန်မာ သစ်တော၊ နိုင်ငံရေးအဖွဲ့များနှင့် ဈေးကွက် စီးပွားရေး
မြန်မာ သစ်တောနှင့် သဘာဝအရင်းအမြစ်
မှန် မှား မှား မှား မှန်
စက်ယန္တရား သစ်တော ပိုင်ဆိုင်မှု ၁၉၄၀ သဘာဝဓာတ်ငွေ့
(က) (ခ) (က) (ဂ) (ခ)
– သမပိုင်းသစ်တောများတွင် မြေထဲပင်လယ်သစ်တော၊ သမပိုင်းရွက်ပြန့်တော၊
Read MoreEssential Academic Thinking and Writing Skills
1. Critical Thinking (130 words)
Critical thinking refers to a disciplined way of examining ideas, arguments, and situations before forming a judgment. It requires learners to observe attentively, gather relevant information, and analyze it objectively. Instead of accepting information at face value, a critical thinker questions assumptions, evaluates sources, and compares different viewpoints. The textbook states that critical thinking includes listening, observing, gathering data, and organizing
Read MoreMaximizing Business Performance: Identifying Waste and Key Metrics
Categorizing Organizational Waste (Muda)
Identifying Waste Across People, Process, Information, and Assets
| Type | Subtype | Definition |
|---|---|---|
| People | Goal Misalignment | Tasks not aligned with organizational goals. |
| Skills Misalignment | Employees working below their skill level. | |
| Time Waste (Idle Workers) | Workers waiting for instructions, materials, or tools. | |
| Lack of Training | Insufficient training causing inefficiencies. | |
| Process | Overprocessing | Adding unnecessary steps to a process. |
| Overproduction | Producing more than needed or earlier |
Marginal Costing, Break-Even Point & Contribution Analysis
Marginal Costing: Meaning, Features and Advantages
1. Meaning of Marginal Costing
Marginal costing is a costing technique in which only variable costs (direct materials, direct labour, variable overheads) are considered for product costing, while fixed costs are treated as period costs and charged directly to the Profit and Loss Account.
The marginal cost of a product refers to the additional cost incurred to produce one extra unit of output.
In formula form:
Marginal Cost = Prime Cost + Variable Overheads
Under
Read MoreMaterial Control, Inventory Pricing Methods & Costing
Meaning of Material Control
Material control refers to the systematic planning, purchasing, storing, and utilization of materials to ensure that the right quantity and quality of materials are available at the right time, place, and cost. It aims to regulate the flow of materials from the point of purchase to the point of consumption so that production runs smoothly without interruptions or excessive investment in inventory. Material control is an essential component of cost accounting as it directly
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