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Benefits and Drawbacks of Budgeting: перевір свою англійську

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1. TASK: Insert the appropriate word in the text below:

estimates available  -   affect  -     adversely  -    unachievable -  accurate  -  sticking to  -overspending -  motivational  -  demotivate  - rigidly -  adhered to  

 


They are set for the future but the business doesn’t definitely know if there will be sales revenue in the future. It ____________ what it will be. But, of course, there are things that can ____________ the accuracy of sales revenue. For example, if a competitor brings out a new product your sales revenues might fall. Another problem is setting the target for the budget which is too high. The staff might think it is ____________. They may get demotivated that can ____________ affect the budgeting. On the other hand, setting the budget which is too easy can also be demotivating.

Benefits of using the budget

• Motivation: staff may like the responsibility of ____________ to their budgets and getting the recognition for doing this. 

• Improved co-ordination: managers can ensure that staff are working toward meeting the firm’s aims and that people in charge of budgets aren’t ____________.

• Improved efficiency: businesses can look back on their budgets and decide if they were ____________ or not. If not they can look at why and try to get it right for future budgets.

• Delegation: because pre-planned targets are in place, managers can delegate authority knowing that subordinates have set targets to work to. This can free up their time and can be ____________ for the employees.

Drawbacks of using the budget

• Predictions: budgets are predictions of future costs and revenues so if the actual results vary a lot then the budget loses its usefulness and might ____________ staff.

• Poor decisions: sticking to budgets ____________ may mean poor decisions are made. Eg. To keep costs within the budget a firm may choose a cheaper supplier. The budget will be ____________ to but product quality may fall and customers may stop buying.

• Negotiating skill of budget setter: some budget setters may be able to argue well for an increased budget, eg the marketing manager may argue a good case for a larger promotional budget. But this may leave less money ____________ for human resources. 


 

2. CHECK YOUR SPEAKING

accurate

[ ˈækjərət ]

точный

to adher

[ ədˈhɪər ]

придерживаться

adversely

[ ˈæd.vɜː]

неблагоприятно

affect

[ əˈfekt ]

влиять

available

[ əˈveɪləbl ]

доступный, имеющийся в наличии

demotivate

[ deˌʊ.tɪˈveɪt]

демотивировать

estimate

[ ˈestɪmət ]

прогнозная оценка

motivational

[ ˌʊ.tɪˈveɪ.ʃən.əl ]

мотивационный

to overspend

[ ˌəʊ.vəˈspend ]

тратить, слишком мног

rigidly

[ ˈrɪdʒ.ɪdli ]

жестко, негибко

to stick

[ stɪ]

придерживаться

unachievable

[ ˈʌˈʧiːvəbl ]

недостижимый

 


3. SEE CORRECT ANSWER

[ Див. правильну відповідь ] 

They are set for the future but the business doesn’t definitely know if there will be sales revenue in the future. It estimates what it will be. But, of course, there are things that can affect the accuracy of sales revenue. For example, if a competitor brings out a new product your sales revenues might fall. Another problem is setting the target for the budget which is too high. The staff might think it is unachievable. They may get demotivated that can adversely affect the budgeting. On the other hand, setting the budget which is too easy can also be demotivating.

Benefits of using the budget

• Motivation: staff may like the responsibility of sticking to their budgets and getting the recognition for doing this. 

• Improved co-ordination: managers can ensure that staff are working toward meeting the firm’s aims and that people in charge of budgets aren’t overspending.

• Improved efficiency: businesses can look back on their budgets and decide if they were accurate or not. If not they can look at why and try to get it right for future budgets.

• Delegation: because pre-planned targets are in place, managers can delegate authority knowing that subordinates have set targets to work to. This can free up their time and can be motivational for the employees.

Drawbacks of using the budget

• Predictions: budgets are predictions of future costs and revenues so if the actual results vary a lot then the budget loses its usefulness and might demotivate staff.

• Poor decisions: sticking to budgets rigidly may mean poor decisions are made. Eg. To keep costs within the budget a firm may choose a cheaper supplier. The budget will be adhered to but product quality may fall and customers may stop buying.

• Negotiating skill of budget setter: some budget setters may be able to argue well for an increased budget, eg the marketing manager may argue a good case for a larger promotional budget. But this may leave less money available for human resources


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Автор:
FBE School
Джерело
«Дебет-Кредит»
Рубрика:
«Дебет-Кредит» / Новини партнерів
Теги:
financial english

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