What types of budget approaches are typically used in for-profit companies as opposed to non-profit organizations? Explain at least two different budget methods
Budgeting is a challenge for any organization but can be extremely complex for nonprofit organizations. Budgeting for nonprofits is driven by a mission’s needs and goals and is crucial to the financial stability of the organization. A for-profit may have several budgets representing different perspectives on their financial status or how they wish to operate, including:
Nonprofits often have to deal with overlapping categories and constant budget modifications. A nonprofit’s budget is both a guide for the future and statement of the financial health of the organization, which means that it’s never really set in stone for the year.
Typically, a nonprofit’s revenue is made up of donations and grants. Many types of donations are restricted in their use, and grants often have a self-contained budget, which authorizes the use of funds only for the purposes and in the amounts agreed upon in the grant contract. For example, if a grant allocates $10,000 for an after-school dance program, a nonprofit can’t use that money to get new air conditioners for the main office without permission from the grantor.
And in profit organizations budgets are self contained but thereare no restriction on use of fund in any particular area.
What types of budget approaches are typically used in for-profit companies as opposed to non-profit organizations?...
Using the Internet, find resources that confirm the importance of budgeting to organizations and answer the questions below in essay format. Briefly describe your understanding of how and why managers use budgets. What types of budget approaches are typically used in for-profit companies as opposed to non-profit organizations? Explain at least two different budget methods. What type of budget will you use for your company? Describe a minimum of two ways in which a personal budget is similar to a...
Do people who work for non-profit organizations differ from those who work at for-profit companies when it comes to personal job satisfaction? Separate random samples were collected by a polling agency to investigate the difference. Data collected from 417 employees at non-profit organizations revealed that 373 of them were "highly satisfied." From the for-profit companies, 446 out of 498 employees reported the same level of satisfaction. If this information is to be used to make inferences about all people who...
How would break even and cost volume profit analysis differ in a nonprofit setting as opposed to a for profit environment? 2. How can cost volume profit analysis be used in nonprofit organizations? Provide at least one hypothetical example. 3. The concept of operating leverage is typically applied to for-profit organizations. How are the key concepts underlying operating leverage (ratio of fixed to variable costs) relevant to nonprofit organizations? In 3-5 sentences, explain the importance of operating leverage to a...
Approaches to Building and Strengthening Capabilities: What are some examples of companies that have used some of these methods? explain.
What are some of the budget types used within health services organizations? Briefly describe the purpose and use of each.
What are the main approaches that used by organizations to keep track of inventory? Clearly explain in detail each of these approaches. Support you answer by identifying some of the technologies that may be used for each approach
Budget Development Methods--Provide an evaluation of the various types of budgeting approaches, such as top-down, cost aggregation, time-phased, and analogous budgeting. Use the text to understand what they are and how they might be used depending on the type of project and organizational structure. Are there pros and cons to each? This is a two part discussion.
what will be the questionnaire for purchasing in non profit organizations such as greater Vancouver food bank. at least 4 to 5 questions for finl project report in material management.
Respond to one of the following 2 statements: Most public and non-profit organizations exist to meet some identified need. They are driven by the mission as opposed to profit in the private sector. What is the identified problem or need your organization is trying to meet? How is your organization attempting to address this need? Respond to this quote: “It is better to light one small candle than to curse the darkness” – Confucius
what will be the questionnaire for non profit organizations like greater Vancouver food bank. the questionnaire should be related to purchasing and inventory like how they manage their inventory or from where they get food how they manage their purchasing. they questions should be at least 10.