본문 1.Budgeting Basics What is a
budget? Primary benefits of budgeting -Requires management to plan ahead
and to formalize goals -Provides definite objectives -Creates an early
warning system -Facilitates the coordination of activities -Results in
greater management awareness -Motivates personnel
The master
budget is a set of interrelated budgets that constitutes a plan of action for a
specified time period.
↓ Operating budget
Financial
budget
Sales budget Production budget Direct materials
budget Direct labor budget Manufacturing overhead budget Selling and
administrative expense budget
Capital expenditure budget
Cash
budget
Budgeted balance sheet
The cash budget shows
anticipated cash flows
↓ Cash receipts section
Cash
disbursements section
Financingsection
The budgeted balance sheet
is a projection of financial position at the end of the budget
period
Budgeted balance sheet for the preceding year + Budgets
for the current year =Budgeted balance sheet for the current
year
Budgets are also used by merchandisers, service enterprises, and
not-profit organizations Merchandiser Difference between master budget of
a merchandiser and a manufacturer are Merchandiser uses a merchandise
purchases budget instead of a production budget Merchandiser does not use the
manufacturing budgets (direct materials, direct labor, and manufacturing
overhead)
The merchandise purchases budget shows the estimated cost of
goods to be purchased to meet expected sales
본문내용 the financial
budgets Budgeting in nonmanufacturing companies
1.Budgeting
Basics What is a budget? Primary benefits of budgeting -Requires
management to plan ahead and to formalize goals -Provides definite
objectives -Creates an early warning system -Facilitates the coordination
of activities -Results in greater management awareness -Motivates
personnel
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