Kế toán, kiểm toán - Chapter 23: Master budgets and planning

 Enhances coordination so that
activities of all units contribute to
meeting the company’s overall goals.

Provides a benchmark
for evaluating
performance.

Converts long-term
strategic plans into
short-term financial
plans.

Promotes analysis
and a focus on
the future.

Communicates
management plans
throughout the
organization.

Motivates employees through
participation in the budgeting process
and the establishment of attainable goals.

 

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Chapter 23MASTER BUDGETS AND PLANNINGCommunicates management plans throughout the organization.Provides a benchmark for evaluating performance.Promotes analysis and a focus on the future.Converts long-term strategic plans into short-term financial plans.Motivates employees through participation in the budgeting process and the establishment of attainable goals. Enhances coordination so that activities of all units contribute to meeting the company’s overall goals.Budget ProcessC 1Consists of managers from all departments of the organization.Provides central guidance to insure that individual budgets submitted from all departments are realistic and coordinated.BUDGET COMMITTEEC 1Flow of budget data is a bottom-up process.BUDGET COMMITTEEC 12009201020112012Operating BudgetThe annual operating budget may be divided into quarterlyor monthly budgets.BUDGET TIMINGA continuous or rolling budget is a twelve-month budget that rolls forward one month as the current month is completed.C 1MASTER BUDGET COMPONENTSSales budgetMerchandise purchasesPrepare financial budgets:CashIncome statementBalance sheetPrepare capital expenditure budgetPrepare selling and general administrative budgetsC 2Sales BudgetEstimated Unit SalesEstimated Unit PriceAnalysis of economic and market conditions + Forecasts of customer needs from marketing personnelSALES BUDGETP 1 The quantity purchased will be affected by: Just-in-time inventory systems that enable purchases of smaller, frequently delivered quantities.Safety stock inventory systems that provide protection against lost sales caused by delays in supplier shipments. MERCHANDISE PURCHASES BUDGETP 1Inventoryto bepurchased=Budgetedending inventory+Budgeted cost of sales for the period–Budgeted beginninginventoryMERCHANDISE PURCHASES BUDGETP 1CashBudgetExpected Receiptsand DisbursementsBudgeted Income StatementBudgeted Balance SheetFINANCIAL BUDGETSP 2CASH BUDGETP 2Beginning Cash BalanceBudgeted Cash ReceiptsBudgeted Cash DisbursementsPreliminary Cash Balance+=– If adequate, repay loans or buy securities. If inadequate, increase short-term loans.Cash BudgetBudgetedIncomeStatementCompletedBUDGETED INCOME STATEMENTP 2BudgetedBalanceSheetCompletedBudgetedIncomeStatementBUDGETED BALANCE SHEETP 2ACTIVITY-BASED BUDGETING Activity-based budgeting is based on activities rather than traditional items such as salaries, supplies, depreciation, and utilities.A 1END OF CHAPTER 23

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