Manage Budgets and Financial Plan for Contingency- myassignmenthelp

Question: Discuss about theManage Budgets and Financial Plan for Contingency Plans. Answer: Part B: Contingency plans Through the information about changes in the company, a contingency plan has been made for the managing director to outline those changes and their implementations in the management of the company. Through the budgeting report of the company, it has been analyzed that the various changes would taken place into the position and the performance of the company (Gambacorta and Signoretti, 2014). This report depict about the changes and their changes into the implementation management of the company to make a control over the process and the performance of the company. Company must be required to identify the changes and their impact over the business firstly. This contingency plan depict that the company should manage those issues and their impact and further, the policies and strategies must be iden6ified by the organization through identifying and evaluating the changes (Bandy, 2013). According to the current changes, company must work on its capacity and the price to make a control over the cost and enhance the profit of the company. Budget Review Strategic Planning Through the analysis and changes in the company, master plan of the company has been prepared. Further, the actual and the budgeted figures of the company has been analyzed and the variances have been evaluated to make a better decision about the performance and the position of the company. Through the analysis, it has been found that the performance of the company has been lower than the budgeted figures in all the quarters (Gali, 2015). Further, it has also been found that the variance rate of the company is almost similar in all the quarter, so, the company is required to look over the main root of the variances and work over it to enhance the profitability position and stability position of the company. Further, through the revenues of the comapny, it has been found that the total variances of the company are -6% in the financial year (Borio, 2014). This depict that the sales revenue of the company has been lowered and thus the profitability position of the company has also been lowered. Through the analysis, it has been found that the performance of the company has been lower than the budgeted figures in all the quarters. Further, the expenditure of the company has also been analyzed to identify the performance of the company (Brigham and Ehrhardt, 2013). Through the total expenses analysis of the company, it has been found that the budgeted figures are quite lower than the actual figures which depict that the expenses of the company has been higher than the expected. Contingency plan and their impact over the performance of the company have been analyzed further to identify that how the company and its operations have been affected (Grinblatt and Titman, 2016). Through the study, it has been found that the contingency plan have positively affected the operations of the business. this study express that this contingency plan has improved the performance and the stability position of the company. through the variance analysis, it has also been found that the performance of the company has been lowered in all the quarters (Fernandes, Lynch and Netemeyer, 2014). The budgeted figures are quite negative than the actual figures and affect the profitability position of the company. Thus, through the above analysis, it has been found that the position of the company has been affected and the budgeting report depict that management of the company is required to work more over the position and performance to enhance the business and the profitability position of the company. References: Bandy, G. 2013. Financial management and accounting in the public sector. Oxon: Routledge. Borio, C., 2014. The financial cycle and macroeconomics: What have we learnt?.Journal of Banking Finance,45, pp.182-198. Brigham, E.F. and Ehrhardt, M.C., 2013.Financial management: Theory practice. Cengage Learning. Fernandes, D., Lynch Jr, J.G. and Netemeyer, R.G., 2014. Financial literacy, financial education, and downstream financial behaviors.Management Science,60(8), pp.1861-1883. Gal, J., 2015.Monetary policy, inflation, and the business cycle: an introduction to the new Keynesian framework and its applications. Princeton University Press. Gambacorta, L. and Signoretti, F.M., 2014. Should monetary policy lean against the wind?: An analysis based on a DSGE model with banking.Journal of Economic Dynamics and Control,43, pp.146-174. Grinblatt, M. and Titman, S., 2016.Financial markets corporate strategy.