Sistem Fungsional Bisnis 2, chek it out (part 1)

The one of subject that almost learn how to manage our accounting statement.With Mrs. Raras Tyanurita , the kind, friendly, beautiful and patient teacher (ciee), my friends and I do the journey of the class with full of great joy. So, thanks to ma’m :D

Oke stop to telling private story about Mrs. Raras. Nah, the second I just wanna to  pass on the learning I've got in this class. SFB 2 is divided be two part of lesson. First is budgeting and second is learn Accurate (one of accounting software). There are different with SFB 1. On the SFB 1, we almost learn about what way to a great businessman, but on the SFB 2, almost learn about accounting.

At the beginning of the class in SFB 2, we learn about Interest and Time Value of Money concept. What is it? (this was the first my unvisible question when heard it :D). Bellow I'll explain it for you.

Interest

It is the size of the amount of interest that is burden on the borrower (debtor). It  is depending  on the time, the loan amount, and prevailing interest rate.

There are three forms of the system of interest calculation:

              A.      Simple interest

The size of the amount of interest received by creditors depending on the size of the principal (capital), interest rate (interest rate), and time period.

              B.      Compound interest

·         Compound interest is usually done within the relatively long and in the calculation of interest is over a period

·         Compound interest is interest that continues to be capital if not taken in time

·         Compound interest calculations done on a regular basis intervals, every month, every quarter, every 6 months, or every year.

               C.      Annuity

Annuity is a series of payments an equal amount on each interval payments.The size of the amount paid on each interval depending on the loan amount, term time, and interest rates.

Budgeting

Budgeting function:

            a)      Planning function

Budget as a planning tool written requires careful thought to provide real picture / clear the unit of money.

            b)      Execution function

Budget as a guide the implementation of the work, so that work can be carried out in accordance to achieve the goal.

            c)       Oversight functions.

Budget as a means of control / supervision

Kinds of budgets by:

Basic formulation

1.       Variable budget: there is a range of budget variables between A & B.

2.       Fixed budget: Based on the level of capacity particular.

Preparation Method

             1.       Periodic budget for a specific period.

             2.       Continuous budget: budget established for improvement of the previous budget, e.g ever month repairs held.

Time period

             1.       Maximum short: term budget period 1 year. E.g operating budget.

             2.       Budget long-term (strategic): More than 1 year. E.g capital investment budget.

Field

             1.       Operational Budget: used to prepared a report on income statement

·       Sales budget

·       Cost of the plant budget (BB costs, direct labor costs, factory overhead)

·       Expenses budget

·       The income statement budget

              2.       Financial Budget: budget to draw up a balance sheet.

            ·       Cash budget

            ·       Receivables budget

            ·       Supplies budget

            ·       Balance the budget

Both the budget when put together is called a parent of budget (master budget).

Things to consider:

   ü  The budget must be realistic and carefully as possible.

   ü  Made with the participation of top managers and operational.

   ü  Must reflect justice.

   ü  Budget reporting is made on time.

   ü  Budget makers must have a vision for the future

   

   Okey enough for this post, hope you get knowledge from it. Above, will appear the continued post. Just enjoy it too. Thank you :D