What are the primary similarities and differences between public/nonprofit sector budgeting and financial management and private sector budgeting and financial management?
Order InstructionsThis exam is addresses material from the first half half of the course. Address four (4) of the below questions in detail. If answering questions 1-4 each of your answers should be approximately 1.5-2.0 pages per question using double-space, conforming to APA format. You should cite the textbooks as appropriate in your answers. Be sure to integrate as much material, themes, and concepts as possible from both the course and textbooks in your answers. No additional sources are required.
1) What are the primary similarities and differences between public/nonprofit sector budgeting and financial management and private sector budgeting and financial management? What are the unique challenges and opportunities for each?
2) How, specifically, does politics and the political process influence the public budgeting and financial management environment at all levels–federal, state, and local?
3) What financial management techniques and strategies do managers and leaders utilize in the private/corporate sector to maximize profits and minimize losses?
4) How do private firms invest and leverage capital for the future? What specific investment strategies can benefit the organization?
For the below question choices show your mathematical computation or inputs and then briefly answer the question. Since it is more computational in matter APA format is not necessary. If outside sources are used cite accordingly. The goal with these questions
5) You plan to retire in 30 years and have $10,000 in your investment account now. The expected rate of return is projected to be 6 percent. How much do you need to save per year to attain your retirement goal of $2,000,000? If the return rises to 7 percent how does that change the amount needed per year? If the return lowers to 5 percent how does that change the amount needed per year? Detail 2 options of investment choices for this goal. This will likely be 1-2 paragraphs of explanation.
6) Scenario…you are the department head with a current operating budget of $800,000 and 4 employees with salaries of $70,000, $60,000, $50,000(2). All employees have been with the company for more than 5 years. All other expenses are relatively fixed costs. The business climate is challenging in your industry with increased competition forcing reduced margins. A new software upgrade is needed this next year that is expected to cost $50,000 which was not originally budgeted and cannot be included as part of the capital budget. You anticipate having a reduction of $50,000 in operating budget next year. Detail 2 options that will allow you to meet your budget. The goal of this question is to expand the thought process of application of financial decision making so there is no right/wrong answer. You will be graded on the explanation of pros and cons of the options. Answers will likely be 1 page.
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