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Contents
1.0 Vision & Mission of Liberian National Police .............................................................................. 1
2.0 Ethical considerations related to Budget .......................................................................................... 2
3.0 Technological considerations ............................................................................................................ 3
3.1 Proper communication with different Govt. bodies ..................................................................... 3
3.2 Adoption of Accounting Software and Financial Reporting .......................................................... 4
3.2 Adoption of Computer Technology for Tax payments .................................................................. 4
3.3 Integration of above software with ERP for preparing Mater budget ......................................... 5
3.3.1 Benefits .................................................................................................................................. 5
3.3.2 Important parts of proposed system ..................................................................................... 5
4.0 Rules and Regulations Affecting Budget ........................................................................................... 6
5.0 Evaluation of LNP budgeting System ................................................................................................ 8
6.0 Internal Factor Impacting Success of Budgetary system at LNP ....................................................... 8
7.0 Cost Benefit analysis using Capital Budgeting Tools ......................................................................... 9
7.1 Selection of Right tools for LNP .................................................................................................. 10
8.0 Cash management at LNP ............................................................................................................... 11
9.0 Cu
ent Financial condition of LNP ................................................................................................. 12
References ............................................................................................................................................ 12

1.0 Vision & Mission of Liberian National Police

The Liberian National Police (LNP) is the national police force in Liberia. Its vision and
mission is to maintain peace and security at Liberia. The preparation of budget and its
execution plays an important role in determining its success.
Budget is defined as the estimated total profit and expenditure in yearly basis of an
organization based on the expected income accruing to the unit of organization. It is a proper
written statement of management’s strategy for the coming future, which is expressed in
terms of finance.(Barton,1984) A budget prepares the course of actions to be taken in future
for management of knowledge in an organization. Hence, it is quite important for LNP to
design budget in such a way so as to achieve its vision and mission effectively.
2.0 Ethical considerations related to Budget
Men management and money management are two important ethical considerations which is
to be taken into considerations while preparing a budget as clear from the budget of various
governing bodies. Basic principles of management i.e. “Man are not machines” concept must
e looked by the LNP while preparing budget as the standards to be set should be such which
are achievable. (United States Office of Government Ethics, 2011, PP-1-35) The other
approach shall not fetch success in the long run to the company and may lead to
dissatisfaction among the staff. Moreover, the i
ational procedures may lead to overlapping
of activities and hamper the organisation adversely. Therefore, ten ethical considerations
which are not there at LNP and must be put into mind while preparing budget which are as
follows:-
1. Being very bureaucratic is expensive resulting in taking up about 20 per cent of
manager’s time at LNP.
2. It hides innovation and initiative, because it supports management of authority.
http:
en.wikipedia.org/wiki/Police
http:
en.wikipedia.org/wiki/Liberia
3. Unethical behaviour is encouraged and reputational risk is increased, as it presumes
violent targets and inducements that need to be met at any cost.
4. People are demotivated, because instead of performance maximization budgeting
mostly entails going with the flow. And as the consequence of these people do
minimum work.
5. It is out-dated in very short time periods, because its key notions normally become
out-of-date rather frequently, and additional time is required for their mastering.
6. It does not deal with plan, because budgeting is originated on departments and
functions.
7. It is out-of-killer with the environment so competitive outside, as quick response and
nonstop innovations are the main concern of today’s managers apart from the actual
udget management and people.
8. It protects costs that is not important and will not add value, because they are mostly
compiled on the basis of outcomes of the previous year.
9. It prevents quick response which is not considered as the objective of budgeting, but
for successful work it is necessary.
10. It strengthens control and command.
3.0 Technological considerations

The various technological things that LNP must consider are as follows:-
3.1 Proper communication with different Govt. bodies

There are different methods through which governing bodies communicate the accounting
procedures, standards and principles to various personnel in their profession. Some of the
methods are Magazines, circulars, media post, website publications, blogging etc.
Now a day’s digital magazine is very popular which uses computer software for reading and
also to update. It is very easy to write, circulate and maintain a digital magazine. All
accounting bodies like GARP, IFRS widely uses this technology. Hence, LNP must also
employ this...