Page 90 - DCAP609_CLOUD_COMPUTING

Unit 6: Cloud Computing for the Corporation

organizing and implementing such an activity can be exceedingly time consuming. Unlike Notes
Research Award budgets, Collaborative Awards may request administrative support to facilitate
the collaborative aspects.

6.7.1 Models of Budgetary Collaboration

The two main models of budgetary collaboration are as follows:
1. Aligned budgets: Where the partners each consent to assign an agreed part of their own
budgets in support of the common initiative or shared responsibility. In so doing, each
partner retains responsibility and accountability for their own spending contributions.
2. Pooled budgets: Where partners contribute resources to a special fund to achieve common
objectives to which all have agreed. Two alternative approaches present themselves for
such pooled arrangements. On the one hand, they may involve a ‘hosting’ approach in
which one of the partners takes lead responsibility for managing the special fund, and into
which all the other partners pay their contributions. On the other, is a ‘third-party’ approach
in which a special unit is established to provide independent and dedicated leadership in
relation to the functional activity or service, and through which the partners ‘pool’ their
financial contributions.

Self Assessment

Fill in the blanks:
15. The benefit of Web-based …………………….. management is that you can quickly and
easily ensure that all employees follow your company’s rules and regulations.
16. The ………………………. for collaborative activities will vary greatly depending on the
scope of the proposed problem.

6.8 Collaborating on Financial Statements

The creation of an external financial statement is collaboration between multiple parties. This
collaboration is both inter- and intra-organization. The graphic below shows many of the parties
which collaborate to create an external financial statement.
Figure 6.1: Creation of Financial Statement is a Collaboration

Financial
Printer External
Attorney
Auditor

Audit Financial Tax
Committee Statement Accountant

Other
Investor Third
Relations Internal
Accounting Parties
Team

Source: http://xbrl.squarespace.com/journal/2011/10/6/creation-of-financial-statement-is-a-
collaboration.html

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