Explore BrainMass
Share

Envelope Budgeting

This content was STOLEN from BrainMass.com - View the original, and get the already-completed solution here!

Envelope budgeting: summarize and explain.

© BrainMass Inc. brainmass.com October 25, 2018, 9:30 am ad1c9bdddf
https://brainmass.com/business/accounting/envelope-budgeting-summary-process-benefits-576248

Attachments

Solution Preview

Summarizing the process of envelope budgeting. And evaluate whether you think you would benefit from envelope budgeting. What do you think are its strengths and weaknesses relative to your situation?
The process of envelope budgeting is to allocate money to different categories, putting money in various envelopes based upon the pre-determined budget. At the time a purchase is desired or needed; one goes to the specified envelope and takes out the required sum. In the event there is not enough money in the envelope, one must decide if he will not make the purchase, re-allocate money from other envelopes or delay the purchase. Re-allocating money from one envelope to the other results in a sacrifice being made at a later time. In the event there is extra money at month's end, ...

Solution Summary

This solution summarizes the process of envelope budgeting, and evaluates whether it benefits one to use envelope budgeting. It also talks about strengths and weaknesses. Includes APA formatting.

$2.19
See Also This Related BrainMass Solution

Project Management: Costing the Project

Costing the Project

The project is progressing well, and you have now been asked if there is enough time and budget to create and distribute a new marketing mailing. This mailing will be focused on a new international marketplace, so the existing materials cannot be used "as is." The materials will need to be translated (external resource), have different graphics applied, and use different colors. The cost for mailing internationally is twice the cost of the domestic mailing, and the volume is 200,000-250,000 addresses. A mailing list will be purchased for this mailing since it is a new market for the company.

You need to determine the costs of this mailing (internal and external). You also need to determine the resource requirements and identify any conflicts. Jennifer and you have a working session later this week to pull together the information. In preparation for the meeting, create a worksheet (in Excel or other spreadsheet tool) that you can use to create the budget for the new mailing. Pre-populate the worksheet with the components of the estimate and provide directions to Jennifer in a procedures document (in Word) on how to create a three-point estimate for the resulting budget. Be sure to also include the internal costs. Also create a schedule that identifies the deliverables, activities, and resources to produce this mailing. Using the project schedule you created as a group, identify the resources you will use and what conflicts that may create (in Word). Justify your choices.

View Full Posting Details