How should the budget activities be

Question

Today, many companies face budgetary challenges on a continual basis. Two critical aspects that businesses lack are effective control practices and monitoring. You have been asked by your manager of the Money Cares Investment Corporation, to outline problematic or risk areas in the company's financial procedures. Upon reviewing the budget, you notice that there is overspending in marketing supplies, transportation, and workshop items that include hospitality items such as food and drink for the customers. Each investment specialist is given a company credit card for the above expenses but there are no policies established for monitoring. Money Cares is a small business of 8 employees: CEO, Financier, a manager, 3 investment specialists, and 2 clerical assistants.

For this assignment you must identify possible risks for the Money Cares Investment Corporation. In establishing an investment company, you must answer the following

· What could go wrong?

 Identify at least 3 possible risks.

· What must happen in order for the company to succeed?

· What are the company's most vulnerable areas?

· Identify the company's assets

· Where is the most money spent?

· How should the budget activities be regulated?

 

Answer 1

Consider the case situation illustrated in the assignment above and on that basis, write your reviews or opinions for the following: For this task, you should recognize possible risks for the Money Cares Investment Corporation. In establishing the investment company, you should answer the given: 1) Illustrate what could go wrong? 2) Recognize at a minimum of 3 possible risks. 3) Illustrate what must take place in order for the company to succeed? 4) Determine the company's most vulnerable regions? 5) Recognize the company's assets. 6) Illustrate where is the most money spent? 7) How must the budget activities be controlled?