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Overheads - Human Resource - Lecture Slides, Slides of Human Resource Management

Alagappa UniversityHuman Resource Management

HRM is an integral part of management sciences. In these Lecture Slides following aspects of HRM has been discussed : Overheads, Nancial Information, Income, Expenditure, Particular Projects, Products, Labour, Overheads, Budgeting, Cash

Typology: Slides

2012/2013

Uploaded on 07/26/2013

devkinandan
devkinandan 🇮🇳

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Overview
•The financial information you need to ‘run’ a company
•Accounts of what income and expenditure around particular projects or products
•Forecasts of what is likely to happen in the future
•Cost of Labour
•Overheads
•Budgeting
•Cashflows
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Overview

  • The financial information you need to ‘run’ a company
  • Accounts of what income and expenditure around particular projects or products
  • Forecasts of what is likely to happen in the future
  • Cost of Labour
  • Overheads
  • Budgeting
  • Cashflows

Cost of Labour

  • Costs
    • Wage/Salary
    • Tax — (UK National Insurance Contribution) — usually proportional to salary level e.g. 10%, can be much higher e.g. 60% in some countries
    • Superannuation
    • Medical insurance
    • Total is the payroll cost (In Edinburgh University this is 1.21 times the salary cost)
  • Effort
    • 260 weekdays in the year — Deduct public holidays + annual leave + Sick Leave + Unproductive time (at least 40-50 days per year in the UK)
    • Approx 210 days per year times 7 working hours per day = 1470 hours
  • So someone earning £30k at UoE costs (30K x 1.21)/1470 = £24.69 per hour

Overheads in Universities

TRAC (Transparent Approach to Costing) dispensation default rates – for non-HEIs and for HEIs eligible for and applying dispensation

Indexed rate expressed as £ per staff FTE to be applied from April 2009 Indirect cost rate £38, Laboratory estates rate £11, Non-laboratory estates rate £6,

TRAC upper quartile rates for the sector Indexed rate expressed as £ per staff FTE Based on 2007– 08 data indexed for two years Indirect cost rate £41, Laboratory estates rate £13, Non-laboratory estates rate £7,

Budgets

  • Financial Plan of expected income and expenditure typically over a year
  • Typical sections are:
    • Overhead Costs: premises costs, management costs, advertising,...
    • Operating Costs: cost of materials, labour costs, depreciation on plant,...
    • Income (typically from sales): estimated sales of different items at different costs
  • Typically a budget should show a surplus over the year
  • Budgets are often ‘profiled’ into monthly expectations of spend and income

Investment Appraisal 8

Activity 8

  • Review the presentation on Investment Appraisal
  • Look at the Investment Appraisal Activity description

Task: “Your task is to present an argued case for one of the machines that the firm should invest in. You should use at least two appropriate methods of investment appraisal in your presentation and you should highlight the relative costs and benefits of each method. Advise the Board on other factors that will need to be considered in taking the decision in addition to the quantitative analysis given above.”

  • Discuss or question any relevant aspect in the course wiki