FINA425 1405B 02 IP5

Topics: Footnote, APA style, Citation Pages: 9 (1171 words) Published: April 18, 2015
Budget for Money Cares Investment Corporation
Tina Geer
February 8, 2015
Budgeting FINA425-1405B-02
J. Wiley
American Intercontinental University

Abstract
This paper is about Money Cares Investment Corporation is having some problems with going over budget. First it explains some risks that the company can have if this continues to go on. Then it covers how the company can succeed. Next the paper covers the company’s vulnerable areas and the assets the company has. Then it covers where the business spends most of their money. Finally the paper goes over some ways the budget can be regulated. Budget for Money Cares Investment Corporation

Money cares budget needs to be adjusted and enforced for all departments within the company. This business needs to be monitoring or they will fail all the customers that want to invest with their company. Budget problem

Money cares Investment Corporation is having a huge over budget problem. The three main departments are marketing, transportation and workshop which are all over budget because of expenses going towards supplies, hospitality with clients. Going over budget potentially can put the business into the ground (Financial Web, 2014). If the company doesn’t have a set aside amount for hospitality then there isn’t room for it. The business should reestablish the cost that marketing must use as well the transportation costs the company must use (Financial Web, (2014). When the company continues to go over budget this provides them with less of a budget to support certain accounts. If the business isn’t thriving the customer will know. There needs to be rules on what the card is used for. Company to succeed1

The company must set aside more of a budget to supply hospitality to their customers. There needs to be someone monitoring the expenses closely to see if the budget is not set properly. If there is no monitoring then the company will always go over budget (Shim, J., & Siegel, J., & Shim, A., 2012). The manager and financer needs to do the monitoring because they are the leaders for the departments. Pleasing the customer and staying within budget is the way the company will succeed. If there is concern then the manager needs to speak with the CEO to talk about the budget and what is not working with it. Meetings should be held at regular monthly intervals, and all action times should be identified and formally documented. Establish and follow a monitoring and early detection system for the company at appropriate times. The marketing department should have sales promotion expenses that should be budgeted by event, amount of media, the territory that the advertisement is projected (Shim, J., & Siegel, J., & Shim, A., 2012). Vulnerable Areas

The company’s vulnerable areas are the following:
Monitoring the budget
Not paying attention to the expenses that are needed for customers Policies
Expenses
Less training on the budget

Assets
The company’s assets
The company has customers
Have the ability to designate who looks over the budgets for the departments. Have educated staff to provide the proper business right within the company. Clerical assistant to enter the expenses for the departments More than one person to look over the budget (Financing and Management)

Money spent
The money that Money Cares Investment Corporation spends is mostly on their customers. They have to market to a bigger area it’s seems, transportation must be a bigger necessity, and the amount of people that are attending the workshop must exceed the amount the company projected to spend. If the company has a projected budget but the business is short on all of them, normally it means that there is more of a cliental than the company expected. Regulation of budget

Budget activities should be regulated in the following way for the business Consider actual expenditures to date (M.U.S.E., 2013).
Consider future expenditure commitments (M.U.S.E., 2013)....

References: M.U.S.E., (2013). Steps in effective budget controls. Retrieved from http://class.aiuniv.edu/_layouts/MUSEViewer/Asset.aspx?MID=MU15892&aid=AT80914
Financial Web, (2014)
Shim, J., & Siegel, J., & Shim, A., (4th edition)(2012). Budgeting basics and beyond. Retrieved from http://wow.coursesmart.com/9781118096277/firstsection
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