Question
I'm at a loss here!I am just not understanding this material.I really need help with the three questions below. Question 1: Can you explain whether
I'm at a loss here!I am just not understanding this material.I really need help with the three questions below.
Question 1: Can you explain whether the controversial concept of beyond budgeting is a better approach for financial planning and analysis (FP&A) than traditional budgeting, based on the following articles?
Who Needs Budgets: https://ashford.instructure.com/courses/65473/external_tools/retrieve?display=borderless&url=https%3A%2F%2Flibrary.ashford.edu%2FAccount%2FLtiLogin.aspx%3Fcustom_redirectresource%3Dhttps%3A%2F%2Flibrary.ashford.edu%2Fezproxy.aspx%3Furl%3Dhttp%253A%2F%2Fsearch.ebscohost.com%2Flogin.aspx%3Fdirect%3Dtrue%252526db%3Dedsbig%252526AN%3Dedsbig.A98054283%252526site%3Deds-live%26scope%3Dsite
Traditional Budgeting vs. Beyond Budgeting: https://www.cfoedge.com/blog/financial-planning/traditional-budgeting-vs-beyond-budgeting-three-core-differences/
Traditional Budgeting versus Beyond Budgeting A Literature review: https://ideas.repec.org/a/ora/journl/v1y2014i1p573-581.html
Question 2:
I've been asked to work an example and I am at an complete loss of what to do.I am taking my first accounting class and the book is not explaining the steps I need to perform.Can you please help with this example:
- Click on the link to access the Click on the "Fiscal Year 2018" link
- Scroll down and select "Historical Tables"
- Obtain the .xls (Excel) file format of Table 1.1 and Table 1.2 to complete the two requirements below:
- Table 1.2 shows the budget of Surpluses or Deficits (-) as Percentages of gross domestic product (GDP). Determine how many times since 1950 the budget has shown a surplus and how many times it has shown a deficit using the data in the Total column, "Surplus orDeficit." Also, identify the 3 years with the highest deficits, and the year with the highest surplus as a as a percentage of GDP. What were the surplus and deficit percentages for these years?
- Table 1.1 shows the budget Summary of Receipts, Outlays, and Surpluses or Deficits (-) from 1789-2022. Identify whether the highest deficits incurred in the identified years from Table 1.2 were paid with tax revenues (receipts) or borrowed funds (outlays). Discuss how the government gets money and where the government spends money on.
- Click on the "Fiscal Year 2018" link, scroll down and obtain the PDF file for "Major Savings and Reforms" to complete the last requirement. The Major Savings and Reforms volume describes major savings and reform proposals included in the 2018 President's Budget.
- Budget of the United States Government: http://www.gpo.gov/fdsys/browse/collectionGPO.action?collectionCode=BUDGET
- Government Publishing Office:http://www.gpo.gov/
Question 3: Can you explain major discretionary budget eliminations and why is it important that government budgets accurately estimate future revenues during economic downturns?
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