I herewith declare this work to be my own, that I have acknowledged all sources I have consulted in this assignment itself and not only in the bibliography, that all wording unaccompanied by a reference is my own, and that no part of this assignment can be found on the internet, any published source, or in any other document that has been submitted to any university in partial of full satisfaction of the requirements for a subject or course degree.
I acknowledge that if any part of this declaration is found to be false, I shall receive no marks for this assignment, and I shall not be allowed to complete this module, and that all charges can be laid against me for plagiarism before the Central Disciplinary Committee of the University. Table of Contents TITTLE:ASSIGNMENT – PUBLIC SECTOR FINANCE1 QUESTION 12 QUESTION 23 QUESTION 35 QUESTION 47 QUESTION 58 QUESTION 610 QUESTION 711 QUESTION 813 QUESTION 915 BIBLIOGRAPHY17 QUESTION 1 i) STRATEGIC PLANNING AND risk management PLANNING. Strategic planning is an organization’s process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. Most organizations use techniques such as The Strength, Weaknesses, Opportunities and Threats (SWOT) and the Political, Economic, Social and Technological (PEST) analysis to determine where the organization is, where it wants to go and how it can get there.
The Essay on Individual Assignment Business Organizations
Reflective practice is a way of studying your own experiences to improve the way you work. It is linked with the concept of learning from experience, in that you think about what you did and what happened, and decide what you would do differently next time. Reflective practice will make you improve the quality of service you deliver. It will ensure that the service providers are always getting the ...
This requires an analysis of the situation using environmental scanning, establishing priorities, resource assessment and allocation and risk assessment among other activities. A Risk management plan is a document prepared by a project manager to foresee risks, to estimate the effectiveness, and to create response plans to mitigate them. A well prepared strategic plan can direct Management to identify threats to the business and other areas of weaknesses. With this information, Management can then be able to devise a Risk Management Plan to manage and possibly eliminate the risk.
For example, using strategic planning, Management can identify overstaffed departments likely to lead to unnecessary expenditure on salaries and negatively affect business profitability. In a recessionary period, overspending on staff salaries can lead to financial collapse of the company. Therefore if Management can foresee a financial crisis, they will be forced to find ways of controlling expenditure (risk Management planning) and this could be done through retrenchments or redeployment of staff to needy departments. ii) USING EXAMPLE OF PUBLIC SECTOR INTERNAL CONTROL AND AUDIT PLAN In the public sector, strategic planning and risk management planning could also be conducted by departments such as the Internal Control Units with the help of Human Resources Departments using the Internal Audit Plan. For Example, each Municipality must have an Internal Control and Audit Unit.
This unit should be responsible for preparing audit plans including employee audit plans and programmes and advising on issues of internal controls (e. training), risk and risk management, performance management (e. g performance appraisals) and loss control (e. g resignations), amongst others responsibilities. As pointed out by Woods, Lindie and others, the primary function of the Internal Audit Unit should be to monitor the effectiveness of risk management and the internal controls within the municipality although they should not be actively or directly involved in the identification, assessment or control of risks.
The Term Paper on Risk Management Plan 4
Introduction: Information security continuous monitoring (ISCM) is defined as maintaining ongoing awareness of information security, vulnerabilities, and threats to support organizational risk management decisions. This publication specifically addresses assessment and analysis of security control effectiveness and of organizational security status in accordance with organizational risk tolerance. ...
Other than the Internal Control Unit, the Risk Management Unit must work with the Human Resources department to come up with and implement the risk management plan to ensure reduction in overstaffing/over spending (through retrenchments, and relocation of staff) and ensure that all activities relating to identification, assessment and control of such risks are coordinated. QUESTION 2 (i) ANNUAL EXPENDITURE BUDGET FOR DEPARTMENT OF PUBLIC WORKS AS AT 1 APRIL 2009 Description| Salaries| Telephone| Transport| Electricity| Stationery| Total| Expenditure| 6,000,000. 00| 1,200,000. 0| 2,000,000. 00| 15,000. 00| 300,000. 00| 9,515,000. 00| | | | | | | | Annual Measurable Objectives The following are the measurable objectives the Department intends to achieve within the next 6 months: a. Telephone Expenses : Reduce telephone bill by 10% b. Transport Costs: Reduce transport costs by 5% c. Stationery Expenses:
Reduces stationery expenses by 3% (ii)ACTUAL EXPENDITURE REPORT FOR DPW AS OF 1st SEPTEMBER 2009 Description| Salaries| Telephone| Transport| Electricity| Stationery| Total| Expenditure| 6,000,000. 00| 1,320,000. 00| 2,100,000. 00| 15000| 309,000. 0| 9,744,000. 00| Over spending on telephone and transport usage has resulted in reduced savings and impacted negatively on amounts to be received by employees in bonuses. (i) BRIEF PLAN ON HOW TO MAKE SAVINGS. The following is an outline of the plan aimed at managing telephone bills and transport costs to ensure that all telephone expenses are reasonably acceptable and do not impact negatively on the financial performance of the department: Telephone Bills a) Telephone usage will be monitored by the Audit/Accounts and IT department b) All users will be assigned call limits. ) All users to get permission (if necessary) to make expensive or extra business calls. d)
There will be no teleconferencing unless for urgent matters and if approved by the supervisor. e) Negotiate discounts/rebates from the telephone service provider should the bill exceed a certain amount for a particular month (e. g, get 10% discount/rebate on every R1million bill paid in a particular month. f) Identify alternative or cheaper networks (if any) Transport Costs g) Transport usage will be monitored by the Transport Officers and Audit department. h) All drivers will be assigned log books to be audited monthly. ) All drivers to get permission (if necessary) to make expensive or extra business trips. j) All vehicles to be parked at the business premises, if not in use k) Negotiate discounts/rebates from fuel suppliers should the bill exceed a certain amount in a month (e. g, get 5% discount/rebate on every R500, 000. 00 bill paid in a particular month. l) Negotiate better repair and maintenance contracts with service providers. CORRECTIVE ACTION TO TAKE TO ACHIEVE PERFORMANCE TARGET Managing Telephone Bills i. Auditors to ensure that everyone uses an access code when calling out. i. Each employee to audit own phone statement and list business calls and private calls separately iii. Charge employees for extra/private phone usage quarterly iv. Ensure rebates are collected monthly and efficiently. v. Negotiate better contracts with cheaper/alternative service providers. Managing Transport Costs i. Auditors to ensure that everyone uses a log book for any distance travelled. ii. No private use of vehicles will be allowed iii. Each employee/driver to audit own log book list business trips and private trips (if any), separately iv.
The Term Paper on International Transport and Distribution
International transport and distribution Introduction Transport and distribution are key considerations when planning for international trade. Choosing the right mode of transport is essential to ensure your import or export operation is efficient and cost-effective. There are four ways of importing and exporting from overseas - road, rail, air and sea. When making your choices, you will also need ...
Charge and discipline employees for private use of vehicles monthly. v. Ensure rebates are collected monthly and efficiently from fuel suppliers and maintenance and repair service providers. vi. Negotiate better contracts with cheaper/alternative service providers. vii. Ensure all vehicles are parked at designated premises, if not in use. QUESTION 3 Note: Increasing the number of packs from 20,000 to 25,000 will effectively increase the packs by 25% as calculated below. 25,000/20,000 x 100% = 1. 25% Therefore, all identified variable costs are expected to increase by 25%.
For this reason, all variable costs in the table below will be multiplied by 1. 25 to arrive at the new cost. Description| Amount (based on 20000 packs distributed| Variable Or Fixed| Change in amounts based on 25000 packs distribution| Assumptions| 1| Telephone | 5,500. 00| Variable | 6 875. 00| Communications costs will increase if more locations need to be informed of the increased packs for distribution| 2| Stationery| 4,500. 00| Variable | 5 625. 00| Fax Paper usage will increase if more locations need to be informed via fax of the increased packs for distribution| 3| Personnel| 120, 000. 00| Fixed| 120 000. 0| The same personnel is involved the process| 4|
The Term Paper on Unequal Income Distribution In Usa
Unequal Income Distribution in the U.S.A. In recent years, increasing inequality in the distribution of income has been a subject of considerable public concern, political attention, and academic research. Income inequality is a measure of how equally the income pie is divided among all members of society. The relative income, or gauge, can be defined how well the poor are doing economically ...
ARV Medication Packs| 800,000. 00| Variable| 1 000 000. 00| Packaging cots Increase as volumes of packs increase| 5| Distribution of ARV Packs| 120,000. 00| Variable| 150 000. 00| More costs will be incurred as more packs are distributed| 6| Programme Office – Rental| 5,000. 00| Fixed| 5 000. 00| Same office will be used regardless of the number of packs distributed| 7| Storage Space – Rental| 17,000. 00| Variable| 21 250. 00| More space will be required for storage as more packs are bought for distribution| 8| Computer Training for Staff| 3350. 0| Fixed| 3 350. 00| Same costs incurred as there is no change in staff members| 9| Photocopier Lease| 1600. 00| Fixed| 1 600. 00| Increase in ARV Packs does not affect lease costs| 10| Office Cleaning Material| 450. 00. 00| Fixed| 450. 00| Increase in ARV Packs does not affect cleaning material costs| 11| Director’s overseas travel| 18,000. 00| Fixed| 18 000. 00| Director’s travel fees do not depend on the distribution packs| 12| Internal Audit Fee| 2,100. 00| Fixed| 2 100. 00| Salaries of Internal auditors will remain the same despite the change in number of packs.