Accounting for Decision Makers -Discussion Question Assignment - 4

Accounting for Decision Makers -Discussion Question - Assignment Example As an example for the second item, if the highest budget value was $154967 while the required budget for next year is less than that, this is a slack. The third item will create a budgetary slack because more money will be used to correct the situation. If $5400 gave the poor results, more dollars will be needed next year. Including depreciation value in the purchase budget will increase cost slightly: this is a slack too. For example if equipment costs $392 today while its charge is $8, the budgeted cost then becomes $400. Inflation rate and fixed cost to the estimates of purchase will slight relax the budget: for example budgeting with $450 for a facility that costs $400 today. Lastly, new employees require higher cost to make labor efficient. Using this cost for approximation of labor efficiency would create a slack. An example would be budgeting for an average $211 for labor efficiency of new employees while only about $110 dollars would be used for the same. I believe Bailey can justify the built-in budgetary slack to the company. The manager may need to explain would benefit the company like preventing frequent returns to the budgeting table or frequent withdrawal of projects. I would suggest for Bailey to improve the company’s budgeting by use of automated systems such as excel spreadsheets for budgeting and driver-based metrics (Hartgraves & Morse, 2015). In addition, honesty between departments and management should be maintained so that none is taken for a

Corporate Social Responsibility in Gas Industry Sector in Qatar (the Research Paper

Corporate Social Responsibility in Gas Industry Sector in Qatar (the case of QAPCO company) - Research Paper Example Yet again others may apply CRS as an engagement plan to reach a given audience as noted by Maignan and Ferrell (2001). Other reasons for engaging in corporate citizenship include: to foster good supplier relations and to overcome limitations posed by taxes and regulations. Across the world, many organizations engage in CRS activities. One organization that operates in Qatar that evidently spends some of its resources on corporate citizenship is Qatar Petrochemical Company (Qapco). This paper will discuss how the business engages in CRS and how the activities are aligned to its plans. Qatar Petrochemical Company admits to be consciousness of its role in giving back to the society. Ever since its establishment, the company has maintained a policy of giving back to the community (Qapcon, 2013). The company which is a leading producer of low density polythene, ethylene and other hydrocarbon products in the Middle East is domiciled in Qatar. The company believes that there is great value in investing in corporate social responsibility activities, especially those that target humans. Qatar Petrochemical Company engages in various CRS activities in a diverse range of fields. The company has made an impact in the health sector by partnering with the Blood Bank Unit at Hamad Medical Corporation to organize blood donation campaigns (Qapcon, 2013). The management of the company has been at the forefront in encouraging the company’s workers to donate blood and thereby help those in need. Qapco’s engagement in the sponsorship of blood donation campaigns may be aimed at attracting a positive public image that could positively impact on the organization’s performance in the local and international markets. Through such activities, the organization may receive recognitions or awards that propel it in positive light and to greater heights. While the organization spends so much in the blood donation campaigns, it probably hopes to gain nothing more than the good will of the community and society at large from the activity. Yet another activity that the company has engaged in previously as part of its corporate social responsibility is sponsoring educational institutions in various projects or activities. Some of the institutions that the company has sponsored include Qatar University, College of North Atlantic, and Omar Bin Al Khattab Educational Campus, just to mention a few (Qapcon, 2013). The company believes that by sponsoring educational institutions, students are bound to benefit by gaining the knowledge and skills that they will need to maintain the country’s path to industrial and technological advancement. In the same respect, Qapco invests in students as a strategy to ensure that it has a future employee base that is well trained, skilled, experienced and highly talented. With such a team of employees, the company is assured of continuous growth in a favourable business environment. Qapco’s investment in educati on related programs is dedicated to ensuring that its future is secured. By sponsoring colleges that offer courses such as engineering, the organization hopes in return to benefit in the future from a highly skilled, well trained, and experienced workforce. In this case, the organization’s focus is on building its human capital in the long run. One other activity that Qapco engages in its corporate responsibility endeavours is environmental protection