Financial benchmarking summary.

Question nine

Financial benchmarking is a process that involves running a financial analysis and making a comparison of the results to assess the city of New York overall competitiveness, efficiency and productivity. Comparing the city of New York financial data of the year 2020 and that of Chicago city. in the year 2020, Chicago was in a better financial position than the City of New York since it had more assets than the liabilities with a difference of $197836 while on the contrary to New York City which was having more liabilities than assets (Jain, Chandrasekaran & Gunasegaram, 2020). Also, the debt ratio of Chicago was lower than that of New York City since it was at 1%, which shows they have maximized the utilization of the available resources more effective without using external debts. The taxpayer burden of Chicago city is minimal compared to that of New York City since it is at $-8200 compared to that of New York City, which is $-68200.

Also, Chicago city has minimized the amount of debts compared to New York City since they have majored in investing and utilizing the available resources in a more economical way to meet the demands of the people according to the projected budget.  During the process of bench making, there were different limitations which I had encountered like benchmarking helped in spotting areas that need improvement, but it does not contribute to solving the issue at hand like how to reduce the taxpayer burden in the city; thus, benchmarking is the first in many steps which will help in improving the economy. Also, the benchmarking only compares the numbers. It does not consider the micro and micro factors that influenced the Chicago city to be more improved in the financial statements and the economy (Jain, Chandrasekaran & Gunasegaram, 2020). Also, the benchmarking process brought the main focus to the areas that require more attention, like high taxpayer burden and how it can be reduced. It also sets the base for improvements, thus enhancing change within the city financial management system.


Get Professional Assignment Help Cheaply

fast coursework help

Are you busy and do not have time to handle your assignment? Are you scared that your paper will not make the grade? Do you have responsibilities that may hinder you from turning in your assignment on time? Are you tired and can barely handle your assignment? Are your grades inconsistent?

Whichever your reason may is, it is valid! You can get professional academic help from our service at affordable rates. We have a team of professional academic writers who can handle all your assignments.

Our essay writers are graduates with diplomas, bachelor's, masters, Ph.D., and doctorate degrees in various subjects. The minimum requirement to be an essay writer with our essay writing service is to have a college diploma. When assigning your order, we match the paper subject with the area of specialization of the writer.

Why Choose Our Academic Writing Service?

  • Plagiarism free papers
  • Timely delivery
  • Any deadline
  • Skilled, Experienced Native English Writers
  • Subject-relevant academic writer
  • Adherence to paper instructions
  • Ability to tackle bulk assignments
  • Reasonable prices
  • 24/7 Customer Support
  • Get superb grades consistently

How It Works

1.      Place an order

You fill all the paper instructions in the order form. Make sure you include all the helpful materials so that our academic writers can deliver the perfect paper. It will also help to eliminate unnecessary revisions.

2.      Pay for the order

Proceed to pay for the paper so that it can be assigned to one of our expert academic writers. The paper subject is matched with the writer’s area of specialization.

3.      Track the progress

You communicate with the writer and know about the progress of the paper. The client can ask the writer for drafts of the paper. The client can upload extra material and include additional instructions from the lecturer. Receive a paper.

4.      Download the paper

The paper is sent to your email and uploaded to your personal account. You also get a plagiarism report attached to your paper.



order custom essay paper