MY CART

This item was added to your cart.

St. Matthew's Publishing | Textbooks and Children's Books Publisher

publishing company in the philippines

textbook publishers philippines

children's book publisher philippines

publishers in the philippines

book publishers philippines

educational publishing companies philippines
educational books pubslisher philippines
tel-icon (02) 426 5611 | 426 1274 email-iconinquiry@stmatthews.ph

Category: Blogs

Understanding Budgeting & Handling Finances

Written by: Hazel Domingo Babiano

All organizations, both public and private, need to operate successfully financially in order to do all the things they want to. Even non-profit making organizations such as charities, local authorities, etc., need to achieve a surplus or profit in order to survive. In the case of schools, mishandling the school budget and finances may cause severe losses which, eventually, may lead to the cessation of school operations. Understanding basic budgeting is therefore important to keep the school going and growing.

The Importance of Financial Controls

It is not enough for an organization to break even. Profits are important because no matter how good an organization is at budgeting and achieving budgets, it is almost impossible for them to guarantee that they will exactly cover their expenditure. If an organization was only aiming to break even and consistently made a loss (i.e. expenditures are higher than income), then eventually it will have to close down

For an organization that wants to expand, to do new things, employ more staff, give pay rises, and buy new machinery and equipment, it needs to have funds to do that. The best way for a school to get these funds is to provide for themselves out of their profit or surplus. Also, if an organization has shareholders, these shareholders will expect to be paid dividends. Dividends cannot be paid unless the school is making a profit.

Most organizations have to pay corporation tax to the government which helps to pay for Education, Health, Defense and so on.

Important Terms to Remembers

  1. Profit and Loss Accounts

Profit and loss account deals with measuring the viability of a business. In oher words, it is doing well enough to stay in a business or in a case of the public sector, to justify its existence.

  1. Cash Flow

Even though an organization may be in profit on paper, it is essential that it has enough money in the bank to pay its bills. For example, it may be owned a substantial sum by its customers, but if they haven’t paid and the money isn’t in the bank, the organization may not be able to pay its salaries, bills, and its suppliers.

Because organizations spread the capital costs of fixed assets such as equipment over their expected “life” (so that one year’s profit is not adversely impacted versus another relative to the use of the asset), this is another reason why cash flow and profit are not the same.

When looking at the profit and loss account, we also need to take into account the cash position of the organization. In other words, if the profit is good, but the money isn’t in the bank, the organization knows that it needs to take action.

III. The Balance Sheet

The Balance Sheet is basically a record of the assets that an organization owns and the wealth of the business. It is also records of the source of funding that the organization has, for example, the amount of the money contributed by shareholders (known as Capital), retained profit or reserves (the money that the organization has kept to one side and not paid to shareholders) and any long-term loans that it has.

  1. Budgets

A budget enables an organization to measure its performance against the financial plan that it has for its future. Normally, the yearly budget will be linked to the longer-term financial plan which will be tied into the aims of the organization.

A budget means that the organization can decide in advance what it wants to spend its money on and how much money it needs to make in order to buy new equipment, etc. and to make a profit.

During the year, the organization will have to report how well it is achieving against its budget. Many organizations will forecast in advance how well they thing they are likely to do compared to what the budget says they must do. This process becomes more important as the organization comes to the end of its financial year when the budget may no longer be an up-to-date guide to predicting financial results.

 

*This article was prepared especially for Saint Matthew’s Publishing Corporation

Crisis Management

Crisis is defined as a time of severe difficulty or danger, or a time when a difficult or important decision must be made. This is a serious, unexpected, and potentially dangerous situation requiring immediate action.

Crisis often arises from unexpected situations, and may sometimes be very hard to deal with or understand wherein a difficult choice has to be made between alternatives that are equally undesirable.

What to do in times of crises:

  1. Stay calm.
  2. Don’t panic.
  3. Don’t blame others.
  4. Analyze the crisis.
  5. Be rational.
  6. Decide on what action to take.
  7. Implement your decision.
  8. Evaluate.
  9. Talk about the crisis with your staff.

Even if you don’t have a great deal of experiences, you can ensure that you are successful in crisis management and decision-making if you are methodical in your approach.

Do:

  1. Concentrate.
  2. Think logically and go through the stages of decision-making.
  3. Be honest. (Was it your fault?)
  4. Be positive.
  5. Be open to criticism.
  6. Accept problems.
  7. Be patient.
  8. Recognize your limits—you may need to pass the problem over to someone else.
  9. Be open-minded, particularly to other people’s solutions.
  10. Be willing to learn from the problem.
  11. Have the courage to try or start again.
  12. Keep the problem in perspective.
  13. Have a sense of Humor when it’s been solved.
  14. Talk to other people about the problem.
  15. Be confident.

Get off to a good start in communication by explaining why there is a problem and why you have decided to take the action that you have

Don’t:

  1. Be over-sensitive.
  2. Take it personally.
  3. Be over-emotional.
  4. Be tunnel-visioned; there is always a way out.
  5. Be negative.
  6. Blame others.
  7. Panic.
  8. Hide or cover up either the Problem or your actions.
  9. Put off decisions or Procrastinate.

 

*This article was prepared especially for Saint Matthew’s Publishing Corporation.

Constructing Tests

A Test is a procedure intended to establish the quality, performance, or reliability of something; it is a short examination of skill or knowledge.

Tests are made for the following reasons:

  • Establish a baseline of information about each child to judge future progress.
  • Monitor the growth of individual children.
  • Have a systematic plan for intervention and guidance.
  • Plan curriculum.
  • Provide parents with updated information on their child.
  • Provide information for making administrative decisions.

Teacher-made Test Examinations are constructed by teachers to be given to their students for the purpose of making and promotions. It is a principal tool in measuring school achievement.

Teacher designed tests are created to supplement evaluation measures, enabling the teacher to make more accurate decisions that affect student learning. It can support decisions about students’ needs and determine their strengths and weaknesses in content areas. These allow the evaluation of the instructional program being used.

Types of Examinations

  • Oral examinations – test in which the answer is given in spoken words.
  • Written examinatioins – test in which the answers are given in writing.
  • Performance examination – test in which the answer is given by means of overt actions.

Several types of test questions have proved their value in teacher-made tests of computational ability, vocabulary, information, understanding, and other specific outcomes. These types are the short-answer, multiple choice, matching and true-false questions.

The short-answer question. This type of question comes in a variety of forms and is known by a variety of names. There is the incomplete sentence form: “A square has four straight sides, while a triangle has ____________ sides.” Then there is a question form: “What letter comes after ‘b’?”

These various forms measure essentially the same thing. Experience indicates that the short-answer forms are more easily read and less confusing than any other type of question. However, other kinds of questions may be used to provide interest and variety and to serve special purposes.

The short-answer type of question is limited, however, to questions that call for facts—what, who, when, where, and how many.

The multiple-choice question. The multiple-choice question type is the best general purpose question for testing outcomes. It is the most widely used type of question in standardized tests, largely because of its flexibility and the fact that it can be scored objectively—that is, anyone who scores it using the answer sheet will arrive at the same results. In teacher-made tests, the multiple-choice question is useful for measuring ability in vocabulary, reading comprehension, interpretation of pictures, letter forms, and symbols, drawing references from set of data, and understanding of concepts and relationships.

Matching-type questions. An interesting variation for the multiple-choice question, one which the teacher can use for a number of special purposes, is the matching-type questions.

This type of question is widely used in pairing off such things as definitions and words defined, or uppercase and lowercase letters. Three of the more important points to watch out for in constructing questions of this type are (1) the list on the right, from which selections are made, should contain more items than the list on the left; (2) to make it simpler for the pupil who knows the right answer to find it, possible answers should be arranged alphabetically, chronologically, or in some other systematic way, and each item should be shot; (3) the questions should be homogenous; that is, on item on the right should be logically excludable as an answer to any item on the left by a pupil who is uninformed.

True-false questions. True-false questions lend variety and interest to informal testing activities. It is easy to construct, interesting to the pupils, easily scored, and it arouses discussion. It is useful when performance of the pupil on any one item is not an important consideration.

Other Types of Test Questions

  • Following directions
  • Fill-in-the-blank
  • Sequencing
  • Vocabulary
  • Analogies
  • Problem solving
  • Grammar
  • Essay
  • Listening
  • Dictation
  • 1
  • 2
Did you find the book
you were looking for?