Tag Archives: budget

Should You Go to College in a Big City?

The big city can be fun, exciting, cultured and everything that you would hope for, but it can also be intimidating, draining and it can be tough to get ahead. Indeed, the city is a competitive place. Most major metropolitan cities have only so many jobs for all the demand, so you really have to fight to get your foot in the door. The truth is that not everyone is right for the big city. Of course, you could attend University of Southern California, which is located near Downtown Los Angeles, and then live in the suburbs, but you still have to think about commuting every single day. This can be a drag. Here are some things to ponder before applying to a college in the big city.


How Many Times Have You Been to the Big City?

This is an important question to ask yourself before deciding to apply to a college in a big city, because thrusting yourself into a big bustling metropolis can be quite stressful. Even if you were born in a big city, you may want to get out and head to a college in a small town.


Do You Have Good Navigational Skills?

Big city living requires excellent navigational skills. If you don’t want to be late everywhere, you’ll want to have an intuitive sense of where everything is. If you are terrible with navigation, you may want to think about sticking to a simpler life. However, you can always move to a big city and learn your way around. Sometimes it takes a little practice to develop this intuition.


Are You a Master at Social Interactions?

Big cities are full of people. Because of this, you will be around a lot of people – all the time. If you just aren’t used to this, or if being around a lot of people makes you feel anxious, a city may not be the best place for you. However, if you are a master at engaging with people – or if you simply love to be around people – you may thrive in a city that is bustling and always on the go.


Are Your Career Aspirations in the Big City?

If you want to enter a field that exists in a major metropolis, you may want to look for colleges in Boston, New York, Chicago or even Los Angeles. Many students make the mistake of attending a college in a small town and then move to a bigger town. However, this can be a shock to the senses, especially if the job market is too competitive. By already existing and thriving in a big town, it will be a lot easier to nail your dream job.


Do You Have the Budget to Live in the Big City?

On top of everything, a lot of cities are very expensive. Not only will tuition be expensive – so will overhead and more. If you don’t have a big budget to go to school, you may want to look for colleges in small towns. In the end, there are a lot of really great schools in more rural areas that are much more affordable.

The importance of knowledge to developing a budget

A budget is a document that allocates financial, physical and human resource use over a specified period of time to attain certain goals.

A good budget upholds organizations’ long-term goals and should allocate resources to activities that will drive the company towards achievement of such goals.

Developing a business budget is an exercise that all accountants undertake on an annual basis and which forms an integral part of any successful business planning.

The following are the best practices adopted by world class businesses while developing a budget:

1. Link budget development to corporate strategy

To best serve the company’s long term goals and objectives the managers develop a budget that is in line with the company’s corporate strategy.

This unites together personnel in focusing what matters most to the organization and avoids uncoordinated and scattered efforts by various departments and managers.

Read more on corporate governance: http://www.business-competence.com/corporate-governance.html

2. Leverage on technology while designing the budget

More companies are automating their budget management to ease the process and also involve every stakeholder as much as possible. When developing a budget it is best that every stakeholder is kept in the loop on progress during the budget implementation period on performance.

Technology eases business budgeting process and makes it possible for line managers inputs to be incorporated in the budget. Effective technology can be used to make, updating and track of budget much easier.

3. Tie employee incentives to performance measures

To ensure that the business budgeting is a success leading companies tie organization reward system to how best they meet the budget. While managers are expected to uphold the organizational goals in some instances they can engage in counter productive activities creating risks. Tying budget to the reward system can bring a balanced conduct within the management.

4. Keep an eye of cost management in the budgeting

Managers should keep abreast current costs and probable futures costs to ensure that they provide the budget developers with accurate and relevant information.

This is very useful as it reduces time and cost of developing a budget, since information is readily available.

5. Manage effectively the budget process

To develop a quality budget at low cost the managers should streamline the process by ensuring necessary information is available for access during budgeting and avoid possible delaying circumstances. This will ensure the budget cycle is cost effective and budget developed is effective.

6. Ensure that the budget is flexible to accommodate change

A good budget should be flexible such that it can incorporate changes in the future. Ideally the future cannot be fully be determined and therefore a good budget should be one that can accommodate changes brought by uncertainties in the future.