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...
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...
Budgets and Employee Morale
Financial controls affect every aspect of a company, including the behavior, attitudes and morale of employees. Often, most employees in an organization see the budget in very negative terms.
Sales Forecasting
The accuracy of forecasting affects every aspect of the planning process. Perhaps the most critical part of forecasting is the sales forecast.
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...