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Differences in Accounting and Finance - Case Study Example

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This essay discusses that accounting and finance always define somewhat different things in total because the applicability of the same could not be matched with any other thing. Accounting is the name of recording and interpreting the data from different standpoints…
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Differences in Accounting and Finance
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Industrial analysis always looks forward to analyzing the things in a perfect and well-organized manner. Budgeting is the most important thing from the viewpoint of an organization and the main perspective of this assignment also relates to the same (Joseph V. Carcillo). Basically, this is a case study analytical assignment, in which there are different questions that need to be answered accordingly.From the above-mentioned table, it is clear that that the total expense required by the company is $ 726,900, hence the budget should be higher than that of the same.

It is required to allocate at least $ 1 million budget in order to finance all the things accordingly. Let compute the proportion of each attribute and then apply the same on the new budgetary line in order to get a certain amount of figures.The variances in the activities have been found from the difference of each activity while the difference or variance in the total has been found from the net total figure amounting to $ 273,100. The new flexible budget is very much in the favor of the company as a whole, as most of the things have low difference among the things.

The newly allocated budget is well enough to analyze the same in total. Let’s now move towards the third questionCost efficiency is an important factor from the viewpoint of an organization and every organization has to control its cost both direct and indirect cost in order to become economically viable and efficient. In the scenario of the selected organization, it is found that the company is able to control some parts of its cost but not cent percent. The compensation of Directors have a high proportion of 47% of the total budget which is quite high and it should be decreased accordingly because the allocation of funds would disturb heavily merely because of this particular provision.

If I will be in the team of the board of directors, then I would not prefer this much of cost.

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