Types of Budgets
Some companies utilize a budget that is both top-down and bottom-up. This allows managers and non-managers alike to contribute their knowledge and expertise to the budgeting process. Whatever type of budget is used, in order to be effective, it must...
Effective Financial Management
If a company is to remain healthy and grow to realize its full potential, financial controls must be applied in an intelligent and timely manner. Management must examine the information provided by the various forms of financial control and adjust t...
Ratios
Ratios express the relationship between two numbers and can be used in two ways: to compare the past and present performance of the company itself, and to compare the company's performance with that of its competitors. Ratio analysis is an especiall...
Break-Even Analysis and Audits
A break-even analysis allows managers to calculate at what point revenues will cover expenses, and to determine whether a specific project will generate enough income to cover both its fixed and variable costs. Most organizations are also subject to...
Controlling Case Study: Santa Anita Racetrack
The enormous amount of money that passes through the Santa Anita racetrack each day makes an effective controlling system extremely important. The flow of money is in large part tied to wagering, but there are other aspects of the racetrack operatio...
Income Statements
Along with balance sheets, income statements are an integral part of financial analysis, which is a means of determining the financial condition of an organization.
Financial Controls and Budgeting Case Study: Santa Anita Racetrack
In addition to its pari-mutuel betting system and satellite wagering network, Santa Anita operates several dining facilities and shops, as well as an equine hospital and a large number of barns and stables. Each of these operations requires financia...