A budget presentation may pick various forms of presentations; these may involve graphs amongst other designs. In this particular budget examination, the graphical expression as a visual format has been adapted. One of the significant reasons that explain the application of graphs in accounting and finance reports, such as budgeting analysis, is the visual clarity in tracking information expressed graphically (Helfaya et al., 2018).
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In this view, it is easy for any layman and the general management of an organization to analyze reports at a glance. For instance, the graphical representations of the saving segment shown in the excel data are easily explained. This is because the line graph of the savings excels sheet presentation corresponds to the Y-axis to the X-axis in an analytical approach that expresses the amount saved and the period of savings, respectively. Thus, any executive board member with poor mathematical knowledge can easily understand the less complex graphical presentations.
Additionally, graphs are used to compress substantial data sets and statistical information into simple and easily traceable, and comprehensive information (Helfaya et al., 2018). Based on this aspect, I chose to use the bar graphs as the statistics presented by the excel formats are very bulky and complex. Thus, the information is highly cumbersome to any person seeking to construct meaningful decision-making impacts. For example, it is hard to trace the healthcare figures between the first and third months as the figure is highly complex in the excel appearances. Hence the need for a bar graph to inform an easy trace of facts.
Moreover, graphical visuals are appealing and less time-consuming when analyzing data than mathematical figures’ usual appearance in a plain excel sheet (Helfaya et al., 2018). The time used by organizational board members in examining statistics on a graph is less in contrast to the excel-based information analysis. It is simply due to the analytical form and the attractive creative graphs portrayed over the plain excel presentations. Thus, it informs my decisions of specifically selecting the bar graphs for the statistical data demonstration.
On the other hand, the budget’s savings column informs a steady upward growth monthly. Thus, the housing project was finally achieved, as shown in the data calculus. Additionally, possible changes can be made in the segments of food, utilities, and taxes. The difference is likely to fluctuate without a constant, predictable figure as market forces may determine either a low or a high digit. In this case, the macro-economic forces of market price fluctuation due to the changes in demand and supply may dictate the budget adjustments accordingly (Olsson, 2020). Fluctuation due to demand and supply affects essential commodities’ purchase ability as prices may escalate due to increased taxes on the government’s goods or even due to scarcity of the product in the quest.
In conclusion, based on the budget analysis trend, the income is likely to grow at an incremental rate of 6,500 USD per month for the next months consecutively. Hence, a possible forecast of about 109,500 USD at the year-end. On the other hand, market fluctuations in the prices of goods might escalate food and utility costs. For instance, the increase in the price trend of food items by 4% in each of the three consecutive months informs a possible 36% increment figure by year-end. Therefore, it is predictable that, as the income grows, the expense column is likely to increase.
Helfaya, A., Whittington, M., & Alawattage, C. (2018). Exploring the quality of corporate environmental reporting: Surveying preparers’ and users’ perceptions. Accounting, Auditing & Accountability Journal, (1)32, 1, 163-193. Web.
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Olsson, M. (2020). Essays on macroeconomics: Wage rigidity and aggregate fluctuations. [Unpublished doctoral dissertation]. Department of Economics, Uppsala University.