Financial Management Essay Example | Topics and Well Written Essays - 2500 words

Financial Management - Essay Example Rents, Charges, Interests and others make up three percent of its funding (Smith, 2008). Of the total fund generated from various sources: seventy percent is spent on Salaries and Wages; twelve percent is provisioned for the employer contribution to the pension fund; another twelve percent is spent on operating expenses and six percent is for Capital Financing Charges (Smith, 2008). Fiscal governance coverage is in accordance with the Code of Practice on Local Authority Accounting in the United Kingdom (SORP Committee, 2010). CIPFA Code of Practice dictates that in cases of conflict the legislative requirements shall apply in financial governance (Chartered Institute of Public Finance & Accountancy, 2010). National non-domestic rates account for approximately eighteen percent of the total local authority income (Information Centre Scotish Parliament, 1999). Therefore, only about 9 percent of the National non-domestic rate income of the local authority finances the Fire and Rescue eff orts of local governments. While every district including the two cities of Manchester and Salford only contributes a total of 3.3 percent each to the operational expense of the Fire and Rescue Authority (Smith, 2008). Risk mitigation includes the following: disaster recovery, contingency plan, emergency response, business continuity. Fire and Rescue only covers emergency response. From a financial point of view to invest more than eleven percent for emergency response alone may not maximize the value of money considering the other area of risk mitigation that would include disaster recovery, contingency planning and business continuity. However, risk and security challenges have become increasingly complex because as we plan for protection and face a multitude of threats in a rapidly changing environment, we must expect the unexpected, while staying within our budgets (Purpura, 2008). There is an underlying importance in emergency response that is to prevent the emergency escalatin g into a disaster, then to a catastrophe, then to a tragedy (Alexander, 2002). The key has always been prevention and in this case the prevention of an emergency to escalate into another level. One of the key performance indicators of the Greater Manchester Fire and Rescue A

Job analysis on complex and senior job roles Essay

Job analysis on complex and senior job roles - Essay Example According to the research findings job analysis is the practice whereby job descriptions as well as the requirements of a particular job are put into perspective. To conduct successful job analysis, it is vital that data on various jobs are collected and analyzed. Analysis of leadership capacity among senior officials has indicated to be an uphill task for many officials in the organizations and Byham, et al. It is in light to this argument that, a myriad of assessment tools have been devised over the years. This essay shall aim at giving the definition of job analysis and the importance of conducting job analysis on complex and senior job roles. Job analysis as discussed above is a task that cannot be alienated if the organization or business has to succeed. Carrying job analysis of senior positions is really worth and applicable to the contemporary workplaces. According to Oswald job analysis takes shape in three forms. First, the job tasks have to be clearly outlined by the employ ers prior to employment, then the job duties well stipulated, and finally the job responsibilities given to the employees. A clear understanding of these attributes creates a situation whereby there will be minimal confusion on what functions each employee is supposed to serve in the course of carrying the duties in the workplace. An application of job analysis on employees of senior positions can equally benefit form clear depiction of job description, responsibilities, and duties. Through these, the senior employees will have a clear understanding of what confines they ought to operate within and what steps to take if the terms put in place are breached. This is according to Valet & Palmer (2001) who hold the belief that no organization can operate without the inclusion of the systematic gathering of information that pertain to giving a clear outline of what employees need to do in a particular job. Job analysis among the senior employees, according to Wilson & Dierdorff (2005) is useful for planning in terms of human resource and counseling the employees on issues regarding their careers. As discussed earlier, job analysis is inclusive of job descriptions and job duties. It is only through job analysis that employees specify at what levels they expect to be promoted and what they are willing to offer to attain such levels. Employees of senior job roles can benefit in such instances as they have specific roles to play and have to report on the kind of job they have completed after a specific time period. In this case, therefore, it becomes easier to weigh the ability of specific senior employees and the roles they perform. Additionally, it becomes easier to assess promotion methodologies on such employees performing such senior roles. Job analysis is useful for training employees in the organization. Job analysis is vital for making decisions regarding the training needs of the employees (Wilson & Harvey, 2000).This can be done through