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Financial Reporting
Category: Business | Type: Assignment | Style: APA | Level: Degree | Pages: 3
Essex fire service being a provider of service under the public goods will have different objectives from a typical business firm. It is a public provider of service, so its performance can only be analyzed in the context of its service delivery given its scope. To enhance efficiency it has adopted best value accounting code of practice for repeating its financial status. However the intended management structure has not yet been streamlined accordingly. In as much as budget is a pointer of intentions for the year, it is bound to strengths and weaknesses. Budgets are just an indicator and room for adjustments should be made. Budgets only provide a framework and should not be relied on stringently.
Keywords: budgetary process, Accounting, financial status, business rates, budget
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