Mervin Winston, Ltd. - Case Studies

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Mervin Winston, Ltd.
CPA's and Business Consultants
3033 Campus Drive Suite W115
Plymouth, MN 55441
Phone: 763-557-6030
Fax: 763-557-9030
E-mail: info@mwinstonltd.com

Case Study - Cost and Control Systems Evaluation

	Client Industry:	Gaming

	Client Issue:	Needed more thorough annual budgets

	Background:	A Midwest gaming operation with yearly revenues of $125 million wanted their middle management to do a more thorough job of completing their annual budgets. Previously the budget process had been completed without the involvement or input of middle managers, which resulted in a lack of accountability on their part. Expenses in all areas of the operation were trending up significantly faster than revenues. Senior management wanted to improve accountability and bring the expense trend under control.

	The Mervin Winston Ltd., Solution:	Completed a budget training needs assessment. Analyzed historical performance to budget and identified where improvements could be made. Developed with senior management Goals and Objectives for the budgeting year. Conducted nine (9) training session for middle management and two (2) training sessions for senior management Held 60 to 80 individual coaching sessions helping middle managers complete their budget. Facilitated middle managers' budget presentation to senior management helping them focus on budget goals and objectives.

	The Results:	Middle managers developed department revenue and expense budgets. They reviewed historical information and current market position as a basis of establishing budget amounts. Middle managers' understanding of the budget process and the elements of the budget substantially improved. Middle managers focused monthly on actions needed to correct deviations from budget because they were held accountable for meeting their budget plans by senior management. Upward expense trend was reduced by 50% in the budget.