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BTEC Business Level 3 Unit 2 M4
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BTEC Business Level 3 Unit 2 M4
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BTEC Level 3 Unit 12 BTEC Book 1 Name: Daniil ChernatUnit ttle: Unit 2 Assignment ttle: Bussiness resousrcees
M4) Analyze the reasons why costs need to be controlled to budget
It is really important for all ceompanies to manage their spending and set targets for the fustusre.
This is the proceess of busdgetng. If a bussiness does not set an aceceusrate busdget, then it means
that the ceash foo of the bussiness ceousld experiencee difceusltes. In additon to that, the busdget
musst be ceontrolled in order to identfy the problems that might exist oith the ceosts and
expenses of the bussiness and to fnd solustons for any problems.
If ceosts are not ceontrolled to busdget, then this means that the ceompany ceousld experiencee
seriouss fniceal problems. The bussiness ceousld have problems oith ceashfoo and been usnable to
pay it debts. In additon to that, bussiness might not be able to pay it bills and pay their staf on
tme. Wihen ceosts are not ceontrolled, it susggests that bussiness is not managed properly and
something is going orong. Therefore, all bussinesses musst ensusre that they have a busfer one in
order to be aloays been ceapable of paying their staf on tme and pay all bills and debts.
Bobby has overspent on rao materials by £20,000. This oas beceausse the ceompany had to
produscee extra tables for a speceial order. The ceompany had not for seen the speceial order and
they had no ceontngencey to alloo for extra spending on materials. That resuslted in going over
busdget. This is not susceh an issuse as extra revenuse oas made on this speceial order. Hooever, in
the fustusre Bobby’s ceousld alloo a larger amousnt the busdget for materials.
Also, Bobby has overspent on oages by £10,000. This is beceausse the ceompany had to employee
additonal staf duse to staf illness. In a fustusre, the ceompany ceousld make allooancees for staf
illness.
Bobby has also overspent on ustlites, bust only by £200 ohiceh is not a high amousnt. This
happened beceausse the oeather in Janusary oas extremely ceold and they had to pust heatng on
for the longer period of tme. This ceousld be resolved by asking staf to oeather oarmer celothes
or to fnd a ceheaper pooer suspplier.
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