Assignment 2: Budget Planning and Control

Use the Internet and / or Strayer databases to research budget planning and control. Imagine that the company that you currently work for, have previously worked for, or would like to work for in the future has tasked you with preparing a budget plan.

Write a three to four (3-4) page paper in which you:

  1. Describe the company that you currently work for, have previously worked for, or would like to work for in the future. Determine at least two (2) compelling reasons that this company should prepare and manage a budget. Predict the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.
  2. Outline a high-level budget plan for the company. In your high-level budget plan, recommend the most appropriate budgeting phases for the company.
  3. Propose two (2) methods and techniques that the company should use to manage its budget over time in preparation for the fact that budgets are ever changing. Justify your response.
  4. Imagine that the company is facing a financial challenge that is causing the actual amounts of money that it spends to become significantly off target from its budgeted amounts. Prepare an action plan to resolve the budget misalignment. In your action plan, recommend at least one (1) budgeting technique to resolve the budget and actual discrepancies. Provide a rationale for your response.
  5. Use at least three (3) quality academic resources in this assignment. Note: Wikipedia and other Websites do not quality as academic resources.

Assignment 2: Budget Planning and Control

Criteria

Unacceptable

Below 70% F

Fair

70-79% C

Proficient

80-89% B

Exemplary

90-100% A

1. Describe the company that you currently work for, have previously worked for, or would like to work for in the future. Determine at least two (2) compelling reasons that this company should prepare and manage a budget. Predict the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.

Weight: 20%

Did not submit or incompletely described the company that you currently work for, have previously worked for, or would like to work for in the future. Did not submit or incompletely determined at least two (2) compelling reasons that this company should prepare and manage a budget. Did not submit or incompletely predicted the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.

Partially described the company that you currently work for, have previously worked for, or would like to work for in the future. Partially determined at least two (2) compelling reasons that this company should prepare and manage a budget. Partially predicted the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.

Satisfactorily described the company that you currently work for, have previously worked for, or would like to work for in the future. Satisfactorily determined at least two (2) compelling reasons that this company should prepare and manage a budget. Satisfactorily predicted the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.

Thoroughly described the company that you currently work for, have previously worked for, or would like to work for in the future. Thoroughly determined at least two (2) compelling reasons that this company should prepare and manage a budget. Thoroughly predicted the two (2) most likely positive and negative financial outcomes for this company if it properly or improperly performs effective budgeting.

2. Outline a high-level budget plan for the company. In your high- level budget plan, recommend the most appropriate budgeting phases for the company.
Weight: 20%

Did not submit or incompletely outlined a high-level budget plan for the company. Did not submit or incompletely recommended the most appropriate budgeting phases for the company in your high-level budget plan.

Partially outlined a high-level budget plan for the company. Partially recommended the most appropriate budgeting phases for the company in your high-level budget plan.

Satisfactorily outlined a high-level budget plan for the company. Satisfactorily recommended the most appropriate budgeting phases for the company in your high-level budget plan.

Thoroughly outlined a high-level budget plan for the company. Thoroughly recommended the most appropriate budgeting phases for the company in your high-level budget plan.

3. Propose two (2) methods and techniques that the company should use to manage its budget over time in preparation for the fact that budgets are ever changing. Justify your response.

Weight: 15%

Did not submit or incompletely proposed two (2) methods and techniques that the company should use to manage its budget over time in preparation for the fact that budgets are ever changing. Did not submit or incompletely justified your response.

Partially proposed two (2) methods and techniques that the company should use to manage its budget over time in preparation for the fact that budgets are ever changing. Partially justified your response.

Satisfactorily proposed two (2) methods and techniques that the company should use to manage its budget over time in preparation for the fact that budgets are ever changing. Satisfactorily justified your response.

Thoroughly proposed two (2) methods and techniques that the company should use to manage its budget over time in preparation for the fact that budgets are ever changing. Thoroughly justified your response.

4. Imagine that the company is facing a financial challenge that is causing the actual amounts of money that it spends to become significantly off target from its budgeted amounts. Prepare an action plan to resolve the budget misalignment. In your action plan, recommend at least one (1) budgeting technique to resolve the budget and actual discrepancies. Provide a rationale for your response.

Weight: 20%

Did not submit or incompletely prepared an action plan to resolve the budget misalignment. Did not submit or incompletely recommended at least one (1) budgeting technique to resolve the budget and actual discrepancies in your action plan. Did not submit or incompletely provided a rationale for your response.

Partially prepared an action plan to resolve the budget misalignment. Partially recommended at least one (1) budgeting technique to resolve the budget and actual discrepancies in your action plan. Partially provided a rationale for your response.

S
atisfactorily prepared an action plan to resolve the budget misalignment. Satisfactorily recommended at least one (1) budgeting technique to resolve the budget and actual discrepancies in your action plan. Satisfactorily provided a rationale for your response.

Thoroughly prepared an action plan to resolve the budget misalignment. Thoroughly recommended at least one (1) budgeting technique to resolve the budget and actual discrepancies in your action plan. Thoroughly provided a rationale for your response.

5. 3 references

Weight: 5%

No references provided

Does not meet the required number of references; some or all references poor quality choices.

Meets number of required references; all references high quality choices.

Exceeds number of required references; all references high quality choices.

6. Writing Mechanics, Grammar, and Formatting

Weight: 5%

Serious and persistent errors in grammar, spelling, punctuation, or formatting.

Numerous errors in grammar, spelling, and punctuation.

Partially free of errors in grammar, spelling, punctuation, or formatting.

Mostly free of errors in grammar, spelling, punctuation, or formatting.

7. Appropriate use of APA in-text citations and reference section

Weight: 5%

Lack of in-text citations and / or lack of reference section.

In-text citations and references are given, but not in APA format.

In-text citations and references are provided, but they are only partially formatted correctly in APA style.

Most in-text citations and references are provided, and they are generally formatted correctly in APA style.

8. Information Literacy / Integration of Sources

Weight: 5%

Serious errors in the integration of sources, such as intentional or accidental plagiarism, or failure to use in-text citations.

Sources are rarely integrated using effective techniques of quoting, paraphrasing, and summarizing.

Sources are partially integrated using effective techniques of quoting, paraphrasing, and summarizing.

 

Sources are mostly integrated using effective techniques of quoting, paraphrasing, and summarizing.

9. Clarity and Coherence of Writing

Weight: 5%

Information is confusing to the reader and fails to include reasons and evidence that logically support ideas.

Information is somewhat confusing with not enough reasons and evidence that logically support ideas.

Information is partially clear with minimal reasons and evidence that logically support ideas.

Information is mostly clear and generally supported with reasons and evidence that logically support ideas.

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