Management Accounting 2 Essay Example | Topics and Well Written Essays - 1500 words

Management Accounting 2 - Essay Example Budgeting is a continuous process in large organizations. Operation department create plans to help the company achieve its corporate goals. Overhead costs, capital expenditures, operating expenses and sales are forecasted for the upcoming fiscal year by the unit managers. The forecasted figures are then sent to the upper management for its approval. The upper management reviews all the projected costs, expenditures and revenues and then approves it. The approved formal budget forms the guideline for operations in the coming year. Monthly and quarterly budget are also prepared by organizations to keep a track of performance against projected figures and takes corrective action if there is any deviation. Upper management has a bottom up approach in respect of budgeting. Corporate managers take the top down approach in meeting business goals. Managers who have a good understanding of profits and sales and have the capacity to overestimate costs typically create successful budgets (Singla, 2009, p. 147). There are various benefits of budgeting such as managers can compare the company’s performance against the projected figures which also forms the basis of their functioning within an organization. They compare the current performance of the company against projected figures and takes corrective action if there is any deviation. In this way, the managers are also able to keep their employees focused and guide them to performa nce (Lucey, 2003, p. 187). Formal budgeting provides the company with a detailed and comprehensive picture of the immediate future and also informs the company about the possible opportunities and threats. Time is an important factor in the budgeting process. Managers sometimes find themselves completely lost in their effort to meet the rules and regulations that are there in the formal budget. But to have a sound system to exercise

Renewable Technology Essay Example | Topics and Well Written Essays - 1000 words

Renewable Technology - Essay Example Climate change and global warming are two major threats to the ecological balance. Over the past 10 years, there is a continuous increase in the global climate that is melting the polar sea ice in the arctic regions where the population of the polar bear is endangered (Dincer, 2007). As a result, scientists have cautioned policy makers on the continued use of fossil fuel that increases the concentration of carbon dioxide gas. This is the main reason why policies are being set to encourage utilization of renewable materials. In the energy sector, people are encouraged to utilize the renewable sources of energy such as solar, biogas, hydropower and wind power. The generation of power using these processes has little influence on the environment leading to the production of environmentally friendly energy sources (Dincer, 2007). This paper will analyze the advantages and disadvantages of integrating various renewable energy sources into national electrical grid systems. In addition, this report will focus on environmental impact, costs involved, and load balancing (Anon, 2004). This will consider Solar, Wind, Hydro, and Biomass Electricity (including waste incineration) and any others of your choice. In order to achieve this objective, the analysis will examine evidence from literature existing on renewable energy. It will evaluate various sources of information such as websites, existing theories, case studies and empirical studies carried out on the topic. This approach will provide the vital data and information in regard to renewable energy. The benefits realized through the utilization of renewable energy are overwhelmingly high, especially on environmental protection. Currently, the renewable energy is being used in the generation of electricity that is later fed to the national grid. This is satisfying the high demand for electricity in the world