Analyse the costs associated with the resource required to achieve objectives


The analysis of the costs associated with the resources required to achieve the objectives would be analysed on the basis of the following factors;

  • Budgets (including cash flows)
  • Costing activities for specific products and services
  • Management accounts
  • Stock records
  • Overtime records
  • Agency costs records

In budgets, the focus would include setting out strategies that ensure an optimum utilization of resources, improve in the efficiency and effectiveness of existing resources. This would also include performance evaluation and measuring the value of output. For instance, the human resources which represent the highest spend with approximately annual budget of $100,000 would be prioritized and budgeted as the first category of spend. However, in this process, the budget centers would be set, develop strategies of accounting control, a well-coordinated communication with all involved stakeholders and administering the budgets.

For the costing activities for specific products and services, this would include identification and assigning of costs to different products and services. The indirect costs such as the management and office staff salaries would also be allocated. In context of the identified objectives, the primary services that could be budgeted include;

  • Employees’ salaries – covered in the yearly budget.(900.000-100.000$)
  • Paying employees for any extra meeting hours.(4000-4500$)

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