port financial mgt, costing, revenue & exp - nithin p
TRANSCRIPT
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LOGO
Port Financial Management
Presented By:Nithin P
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Expenditure
Contents
Budget, Types & Budgetary Control
Port Accounting System
Costing
Revenue
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MANAGEMENT ROLE
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PLANNING
The process of setting goals, developing strategies, andoutlining tasks and schedules to accomplish the goals.
It is a systematic activity which determines when,how and who is going to perform a specific job.
Planning is a detailed program regarding future
courses of action
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CONTROLLING
Controlling ensures that there is effectiveand efficient utilization of organizational
resources so as to achieve the plannedgoals.
Controlling measures the deviation of
actual performance from the standardperformance, discovers the causes ofsuch deviations and helps in taking
corrective actions.
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BUDGET
A plan for income and expenditureover a future period which issupposed to achieve stated
objectives. A budget is a description of a
financial plan. It is a list of
estimates of revenues to andexpenditures by an agent for astated period of time. Normally a
budget describes a period in the
DI
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UNDERSTAND THE TERMS
Budget - is a predeterminedstatement of companys Revenues& Expenditures for a particular
financial year Budgeting A system of using
budget + monitoring + correction
system Budgetary Control System &
Procedures adopted for centralised
control of activities with references
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TYPES OF BUDGET
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INCOME BUDGET
Prepared out of from anticipated tonnageexpected during the year and expectedvessels
Revenue Anticipated for Cargo HandlingServices
Eg: Exp. Tonnage 6 Lakhs Divided byaverage shipboard (15,000), the no. of
vessels (40). Traffic tonnage multiplied by the rates of
charges
Revenue Anticipated for Services to
Vessels
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EXPENDITURE BUDGET
Based on no. of vessels & tonnagetop mgt sets objectives for levels ofservices, like productivity, turn-
around time, avaialablity &utilization of cargo handlingequipment
Provides specific commitments likeWelfare, Sinking Funds, RetirementBenefits, etc
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CASH BUDGET
Financial transactions are takenplace in the form of Income,Expenditure, Assets & Liabilities
All Cash in flows & out flow of real &personal account are estimated.
Also known as projected sources &application of funds
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STORES BUDGET
Store Purchased and kept in stock
Stores does not earn itself and highstock may affect cash flow
Prepared on the basis of expectedconsumption and lead time toprocure
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Contd . . . .
Stores BudgetOp. Stock XXXX
(+)Estimated Purchase XXXTotal XXXX(-) Estimated Consumption XXX
Estimated Closing Balances XXXX
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CAPITAL BUDGET
Done in conjunction with EngineeringDepartments
List of new projects also included
Shows the sources if eachexpenditure
Govt. Loans, Transfer from surplus
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s a technique fors a technique forresenting in terms ofresenting in terms of
, unction programme s andunction programme s andactivitiesctivities
Chart Title in here
2004 2005 2006 2007
30
50
70
120
PERFORMANCE BUDGETING
orrelating the financialorrelating the financialnd physical aspects ofnd physical aspects of
variousariousstablish relationshipstablish relationshipetween inputs and outputsetween inputs and outputs
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BUDGETORY CONTROL
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PORT ACCOUNTING SYSTEM
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ACCOUNTING EXPENDITURE
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ACTIVITY WISE COMPILATION
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INCOME HEADS
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CODES
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STEPS FOR ACHIEVINGSURPLUS
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ANALYSIS OF COSTS
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