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Presentation/PPT
27/08/2022
Proposal for analysing Budgeting and capital management in Apple Inc
Introduction
Apple Inc is a well known organization operating in the computer domain, music products, phones and other technology based devices. Apple is an organization that operates in the technology industry, which brings about a need to invest huge amounts of capital in research and development (Pearce, J. & Robinson, R, 2005). Apple has been a market leader based on its innovation strategy as well as high quality technologies. These elements do make the usage of management accounting and capital budgeting techniques in Apple Inc, which is a global organization managing multiple products (Hunger, J. D., & Wheelen, T. L., 2007).
Nature of project
The project aims to analyze the budgeting process and procedures in Apple In along with their costing process and procedures of the organisation with respect to method or approach utilised. These elements can help understand how they evaluate profit centres and cost centres along with management of different divisions of the business (Thomson Reuters. 2011). It becomes extremely important for them to obtain tools and techniques which can help them manage the risks involved in their business in an effective manner (Sharman, Paul A, 2003).
Corporate Budget is a budget of a company or an organization which creates in having a formal and structured budgeting process in an order to create a good foundation for having a good business management, development and growth. It is the way similar to our personal finances, planning should be the corner stone of business budgeting process. It becomes extremely important for a business like Apple to be able to manage costs and capital in an effective manner (Gay, Peter, 1988).
This project aims at analyzing their techniques based on information got from the organization as well as its documents (Kilger, Wolfgang, 2002). Organizations that stay focused on their plan and strategy know exactly where they want to spend their resources and create a plan to help them to keep from spending in those areas that do not line up with the vision. In this way it does become possible for them to achieve better efficiency in terms of operations as well as capital management and financial planning (Friedl, Gunther; Hans-Ulrich Kupper; Burkhard Pedell, 2005).
Sources of information
Literature review is one of the most important forms of qualitative research. The researcher must primarily check the resource and then evaluate its credibility in order to increase the trustworthiness of that data (Thomson Reuters. 2011). This would help gather information on budgeting techniques as well as capital management techniques used in Apple (Thomson Reuters. 2011). The researcher should also ensure that there is no bias in the data he collects and so he should ensure that he is able to collect data from reliable sources. Then this data is coded and even in spite of it being in the form of narrative data, it is crucial that they are standardized (Pearce, J. & Robinson, R, 2005).
Budgets are extremely important in the corporate world from the point of view of cost accounting. The main advantage of budgeting is that it helps in the process of cost volume analysis and also helps to achieve higher levels of effectiveness in case of planning (Thomson Reuters. 2011). In order to ensure that this research is complete, it becomes crucial to understand as to how the capital data and budgetary data is formed, the source of information and effectiveness in using these tools in the management processes (Hunger, J. D., & Wheelen, T. L., 2007).
Data and Analysis
Data is to be collected on how much of variance occurs and how profitable is this process to the organization. Analysis of how the organisation collects, stores, and prepares management accounting information, particularly the use of a management accounting system and how it uses it effectively can be done based on the cost savings that incur due to effective planning in the organization (Thomson Reuters. 2011). The managers and cost accountants should be involved in the process of budgeting and the strategic thinkers or the top management should approve the budgets. An analytical evaluation is also extremely essential (Pearce, J. & Robinson, R, 2005).
The data collected has to be analyzed using statistical methods. This can help ensure betterment in the process of forming a better method where in the management accounting systems and the cost accounting systems can be effectively utilized. These elements can prove to be extremely beneficial for further contemplations on improving the system. Yet, the qualitative process and analysis forms the basis of budgeting and so it has become extremely essential for the present day organizations to go beyond budgeting in order to remain extremely competitive (C Casey, 2002).
Recommendations and Conclusion
Research and statistics have an extremely important role to play in the study of any science and data forms the basis of this research. Data forms an extremely important element in all research – including quantitative and qualitative research (Nokes, Sebastian. 2000). In case of qualitative research, it is extremely important to procure qualitative data in the form of results of previous researchers as well as the opinions from other experts as this can help form the basis of qualitative research. It is important that this be utilized effectively in order to analyze the budgeting and costing processes in Apple Inc in an effective manner (Swayne, Duncan & Ginter, 2005).
References
Hunger, J. D., & Wheelen, T. L. (2007). Essentials of strategic management. (4th ed.) Upper Saddle River, NJ: Pearson Education
Pearce, J. & Robinson, R. (2005). Strategic management: Formulation, implementation and Control (9th Edition). New York: The McGraw-Hill Companies
Swayne, Duncan & Ginter (2005), Strategic Management of organizations, USA, Routledge
Gay, Peter, 1988, Freud: A Life/or Our Time. Ontario: Penguin Books Canada
C Casey, 2002, Critical analysis of organizations: theory, practice, revitalization, USA, Sage publisher
Nokes, Sebastian. 2000, “Taking Control of IT Costs”. London (Financial Times / Prentice Hall): March 20, 2000. ISBN 978-0-273-64943-4
Friedl, Gunther; Hans-Ulrich Kupper; Burkhard Pedell (2005). “Relevance Added: Combining ABC with German Cost Accounting”. Strategic Finance (June): 56–61.
Sharman, Paul A. (2003). “Bring On German Cost Accounting”. Strategic Finance (December): 2–9.
Kilger, Wolfgang (2002). Flexible Plankostenrechnung und Deckungsbeitragsrechnung. Updated by Kurt Vikas and Jochen Pampel (12th ed.). Wiesbaden,Germany: Gabler GmbH.
“Cost Management”. Thomson Reuters. 2011. Retrieved November 12, 2011.
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