ipl-logo

Hrm 300 Week 3 Child Care Center

423 Words2 Pages

Child Care Center is a business. Not only you must know grow and development of the child, but you must also know how to keep the business financially viable. To do so, Tameka needs to know why the Effective financial management practices are important to run a child care center. Also, how to maintain a financial management system that includes budget, management of revenue and expenses.

A) I think this situation can be improved by establishing a weekly or monthly cash flow statement depending how closely she needs to monitor the flow of revenue and expenses. By doing this, she will have the important information about how the amount of actual cash coming into the business and the amount of cash out of the business in the form of expenses, …show more content…

b) Staff rotas: if she knows staff rotas, she will be able to calculate and forecast weekly wages.
c) Bills: she will need to know when each bill is due for payment.
3) Budget: A budget is a realistic plan that shows the income and expenses you expect to have. So, Tameka needs to make sure that she prepare the annual budget that will help not to have any unexpected expenses. Also, she needs to think twice before she buys something that is not in the budget. If she does not follow the budget she might be at risk of overspending.
4) Choosing a Financial Software: having a financial software is a great tool that can help manage the income and the expenses. So she can use QuickBooks or bookkeeper. Both software is great for payroll, profit and loss reports.
5) Maintaining Receipts and Financial Records: it is very important that she maintains all receipts and financial records. For instance, she can create files for receipts (parent’s fees, food, gas, supplies,

Show More
Related

  • Nt1330 Unit 2 Health And Social Care

    103 Words  | 1 Pages

    - working with working staff to set up strategies, models and frameworks. - Setting client administration measures & assuring that the current standards satisfy the customers & helps retaining them. • Coordinating with the workers themselves can help effectively in setting appropriate models for the procedures & systems because they are the ones who interact directly with raw materials and producing the products, so they would know better if anything in manufacturing needs improvement or so. • It is important to satisfy the current customers in different possible ways in order to retain them which eventually leads in attracting more customers as well.

    Read More

  • Hcs/531 Week 4 Health Care Paper

    1417 Words  | 6 Pages

    When being placed in the role of a manager, it is important to understand the finances of the organization and how to read and understand the recording of finances. It is also important to understand how all the different parts of the records fit together to give us the knowledge of where the business is financially. Knowing also the different responsibility centers related to financial recording and how they function is important as a manager. Once a manager understands what and where items belong on a balance sheet, they will better understand the state that the business is in. “It provides you with a picture of the financial health of your practice or organization on a certain date.”

    Read More

  • Hrm/531 Week 1 Classification

    447 Words  | 2 Pages

    The next section is the amount that I want to spend each month and another section tells actual amount that I spend for each month. The next sections show if I saved any money or went over my budget for the

    Read More

  • The Mcmartin Daycare Case Of The 1980s

    717 Words  | 3 Pages

    Throughout time, fear has been the number one thing that keeps people alive. Because people are scared, they run from predators in order to survive. The process of natural selection has ensured that those who are scared will live. The people who realize this can take advantage of it. Two prime examples are Abigail Williams and Judy Johnson.

    Read More

  • El Paso Del Norte Children's Development Center: Case Study

    279 Words  | 2 Pages

    El Paso del Norte Children’s Development Center is a non-profit organization located at El Paso, Texas. It strives to provide quality services to children with disabilities so they can reach their fullest potential. They offer services such as, early childhood intervention (ECI), community resources, comprehensive education and therapeutic. Additionally, the organization provides guidance and parent-to-parent mentoring to facilitate the process. Each service or program from the organization contributes in the well-ness and improvement of children with special needs in different aspects of their lives.

    Read More

  • Head Start Program Research Paper

    285 Words  | 2 Pages

    Key Stakeholders Children are key stakeholders in the Head Start Program. The Head Start program helps children in several ways. For example, children learn their basics in education; children also learn socialization skills by interacting with other children within his/her own age group (Castro, Bryant, Peisner-Feinberg & Skinner, 2004). The Head Start Program fosters a set of values to support the overall goal of improving social competence within the family unit and its environment. Single parents are also key stakeholders in the Head Start Program, because they utilize the program to meet child care needs and their children’s educational needs.

    Read More

  • Country Sunshine Daycare Case Study

    326 Words  | 2 Pages

    Thank you for calling and explaining how you operate at Country Sunshine Daycare, but if you could clarify a few items for me. Admittedly it is a bit confusing to reconcile your policy of Not informing parents when there are acts of physical and mental Bullying against/or by a child with the opening statement of your website (i.e. It is the mission of Country Sunshine Children’s Center to provide SAFE, loving and Nurturing environment). I am aware of At Least Two acts of physical harm committed against Chanelle, at least one act of verbal racial bullying, and multiple acts of verbal taunts that would qualify as inappropriate; to say the least. All of the aforementioned acts you Failed to notify me And failed to notify the parents of the

    Read More

  • Understand Health And Social Care Settings Policies And Procedures Essay

    509 Words  | 3 Pages

    Know and understand the settings policies and procedures- Any person working within childcare should have a clear understanding of their settings policies and procedures knowing all the rules and how to follow them appropriately so they know exactly who to turn to in any given situation. Child makes an allegation of abuse to you- Ensure you make no promises to the child (if they ask you not to tell anyone or to keep it a secret) and that you will do everything possible to help them and their situation. Reassure them and let them feel safe and that they have done the right thing.

    Read More

  • Tiny Tots Day Care Case Study

    300 Words  | 2 Pages

    Dear Mr. and Mrs. Brady: I would like to thank you for choosing Tiny Tots Day Care to grow Brett’s education. I applaud the amount of parental support you have provided to Brett while he has been at TIny Tots Day Care. Tiny Tots Day Care focuses on building important character traits in our kids to allow them to be successful. After many conferences, you are aware that Brett is struggling to obtain these traits. Brett has continued to bite, scratch, kick, and hit several students and teachers.

    Read More

  • Informative Speech On Physical Therapy

    1529 Words  | 7 Pages

    10. Bookkeeper Are you a business owner and your business is outgrowing your DIY bookkeeping job? Is your bottom line suffering because you’re spending most of your time to keep track of financial

    Read More

  • Monopolistic Competition In Child Care

    2181 Words  | 9 Pages

    This industry is in a monopolistic competition. Most child care centers compete against other child care centers, though they must also compete against nannies and those who conduct their business at home (“Marketing Your Daycare” 2014). Each type of child care has their positives and negatives, which will either attract or repel potential customers. On one hand, child care centers are certified institutions that have an established clientele. Though the business may be well revered, it could still repel a customer due to the fact that the family may not know the owner of the center or its employees.

    Read More

  • Quickbooks Brief Overview

    347 Words  | 2 Pages

    Brief Overview about Quickbooks Developed and marketed by Intuit, Quickbooks is a prominent financial tool for small and medium-sized businesses. The emergence of this business accounting software has made things simple, convenient and easy. Without seeking assistance from outside resources, the organizations can better manage their businesses and can keep record of sales, payroll and inventory data. In addition, the software has different versions and all are updated each year.

    Read More

  • Early Childhood Observation Report Sample

    485 Words  | 2 Pages

    An unannounced follow up inspection was conducted on 11/17/2015. I arrived at the operation which is located at 1408 N. Edwards Ave, Mt Pleasant about 3:33 pm. I was greeted by Ashley Earl the director I then explained the purpose of my inspection. I prepared for the inspection by reviewing the frequency of inspections made, observing the operations, compliance history, the operations fee history, background check list and controlling person list, etc.

    Read More

  • Self Reflection In Financial Management

    1051 Words  | 5 Pages

    In my day to day studying times, I can prepare accounts manually with the assistance of some videos on youtube and I am also planning to use a computer package to prepare restaurant accounts in near future. Moreover, I am lucky enough to have some basic knowledge about methods and principles of financial planning, instruments and mechanics of accounting, procedures and documents required for financial reports , methods and techniques of controlling finance, principles and instruments of auditing and methods and techniques of fraud prevention in financial

    Read More

  • Saving Money Essay: How To Save Your Money

    1029 Words  | 5 Pages

    Cut some expenses- If you’re having problem managing your budget to save, you might want to cut off some of your expenses. The first thing you can do is remove “luxuries” for your budget list. You don’t have to go to the spa every single week and you can survive without taking a taxi home every day from work.

    Read More

More about Hrm 300 Week 3 Child Care Center

Open Document