Assignmnet on Accounting Budget Essay Example | Topics and Well Written Essays - 2000 words

Assignmnet on Accounting Budget - Essay Example The institution has 92 branches and also has a representative office on Dubai. The bank was voted four times consecutively for being the best bank in Oman by The Banker and by both EuroMoney and Global Finance Inc. also five times consecutively. Through the strategic planning and budgeting process, Bank Muscat has taken aggressive steps for many years to reduce costs and create more effective and efficient ways of operating, while at the same time preserving and enhancing quality services to its clients. The Bank has specifically shifted resources from administrative functions to support research and service thereby moving the resources to the most promising and effective programs, and eliminating duplication in programs and services. The Bank's current strategic planning process integrates planning, budgeting, and continuous quality improvement and this ensures that the budget allocations will be based on sound and well-thought-out plans. (Lynn, 2004) The bank's objectives are not only to maximise profit but also to meet the needs and wants of the clients within a sustainable financial context. A risk adjusted return on capital growth rate is set by private financial institution sector. All resource allocations of the bank are integrated in the context of competing uses and available gross income. This shows clearly that the bank is projected to have enough potential income to increase reserve as it meet budgeted core commitment and expenses. The Bank's planning council is comprised of the Chief Executive Officer, Deputy Chief Executive Officer, Chief Operation Officer and all General Managers of various sections with the institution. They review the strategic plans of each financial year and consider requests for resources from the Board of Directors and later on recommend funding levels. The strategic plan starts from the bottom whereby each section within the institution develops its own strategic plans. They review their services taking into account clients' interest, societal and commonwealth needs, developments in the field of banking and the sections' expertise. Strong programs and services that are central to the bank's mission are recommended for enhancement. Unpopular services are identified to determine if they should be continued, merged with other services or eliminated. The goals of the Bank's-wide strategic plan is complemented and supported by each unit's strategic plan. There are usually annual updates that are prepared to measure the progress and refine goals. (Lerner and Cashin, 2001) Due to scarce resources, BankMuscat turned to internal budget reductions and allocations to fund strategic priorities and critical operating needs. A deliberate process of budget recycling and reallocation was incorporated into the strategic planning process. Since then, the Bank's budget priorities have been to reallocate funds from administrative and support core mission activities of delivering qualities and efficient services to their clients. 2 BankMuscat being a banking institution, its main objectives is to offer

Development study Research Proposal Example | Topics and Well Written Essays - 250 words

Development study - Research Proposal Example While a vast body of research shows that the internal mismanagement and lack of governance in the recipient nations usually results in non-effective use of aid and a stagnation of long term sustainable growth for these countries, it is also true that in certain cases this aid has been the savior of many maligned and under privileged groups. The ongoing Ebola crisis has been well-publicized by the world media and by the international agencies working hard with the local governments to contain the spread of the virus. It is yet unknown for how long the crises will last or how many people will be ultimately effected in both personal and social contexts but enough economic changes have occurred in the aftermath effects of such a widespread disaster that trends of economic growth, stability and aid distribution can be studied in detail as a quantitative research. The longitudinal study will gather data on the most pertinent economic indicators for the region targeted and compare the pre-Ebola and post-Ebola crises conditions and discuss severe alterations in the pattern and future forecasts. I believe the Masters course in this subject will allow me to strengthen my own foundations about developmental theories and allow me to develop the proposed research up to rigorous academic standards. The world around is changing in a myriad of way and this degree assists academics to understand how the various economic, social, developmental and natural factors interact to effect the different groups of the world. I would like to contribute to this growing and important body of study. Worstall, T., (2014). The Economic Effects Of Ebola On West Africa; Its Because Of The Way The Economies Are Structured. Forbes, economic and Finance. Available at: