Kristie+Belding_ADLR502_Task5a

Need him with the decriotionaIncluding the budget's objective, how the budget assists an organization in managing its financial activities, and what types of data need to be included in that specific budget

Which of the following is NOT true of the budgeting process?   Question 8 options:   Budgeting provides feedback to management to aid in assessing how well it's reaching its goals.   Budgets force managers to plan for the future.   Budgets force managers to consider relations among operations across the entire value chain.   The performance report is prepared as part of the master budget.

1.Explain the advantages of encouraging employee participation in budget setting. 2.Explain why zero based budgeting might be a useful tool to employ to ensure that budgetary requirements are kept up to date

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Explain the advantages of encouraging employee participation in budget setting. 2.Explain why zero based budgeting might be a useful tool to employ to ensure that budgetary requirements are kept up to date

What are some characteristics of performance-based budgeting? What are some advantages and disadvantages of performance-based budgeting?  How does the organization you selected incorporate performance-based budgeting?  If the organization you selected does not incorporate performance-based budgeting, how does the organization reflect or incorporate program outcomes to the budget?  When responding to classmates, compare the organization you chose to theirs. Is one organization more successful at describing their strategic plan and aligning their budget to reflect outcomes? Why or why not?

Which of the following is the cornerstone (or most critical element) of the master budget? a. The operating expenses budgetb. The budgeted balance sheetc. The sales budget d. The inventory, purchases, and cost of goods sold budget The budgeted statement of cash flows is part of which element of Amazon.com’s master budget? The financial budget The operating budget The capital expenditures budget None of the above

Which of the following is the cornerstone (or most critical element) of the master budget? The operating expenses budget The budgeted balance sheet The sales budget The inventory, purchases, and cost of goods sold budget а. b. с. d. 3. The budgeted statement of cash flows is part of which element of Amazon.com's master budget? The financial budget The operating budget The capital expenditures budget None of the above а. b. с. d. Use the following information to answer questions 4 through 7 Suppose Mallcentral sells 1,000,000 hardcover books a day at an average price of $30. Assume that Mallcentral's purchase price for the books is 75% of the selling price it charges retail customers. Mallcentral has no beginning inventory, but it wants to have a three-day supply of ending inventory. Assume that operating expenses are $1,000,000 per day. 4. Compute Mallcentral's budgeted sales for the next (seven-day) week. $157,500,000 $217,000,000 $435,000,000 $210,000,000 а. b. с. d. 2.

A) Enter True or False    1.   ________   An important part of the planning process is the creation of a budget.   2.   ________   Operating budgets focus on the financial resources needed to support operations including cash receipts and disbursements, capital expenditures and financing.   3.   ________   Budgets can also create a “use-it-or-lose-it” mentality that encourages managers to spend their entire budgets to avoid a reduction in resources in the next budget period.   4.   ________   The starting point of the planning process is management’s strategic plan or vision of what they want the organization to achieve over the long term.   5.   ________   A short-term objective is a specific goal that managers want to achieve in more than a year to reach their long-term goals.   6.   ________   Planning is the forward-looking phase of the planning and control process that involves setting long-term objectives and defining short-term…

What is a good response to: "What do you think are the key components of a successful budgeting process within an organization? Are there any specific challenges that organizations may commonly face when implementing a budget?" The budget should align with the organization's strategic goals and objectives. Understanding what the organization aims to achieve in the short and long term is crucial for creating a budget that supports these goals. Objectives should be Specific, Measurable, Achievable, Relevant, and Time-bound to ensure clarity and focus. Reviewing past financial performance helps in understanding trends, cost drivers, and revenue patterns. This historical data is crucial for making informed assumptions. Also, Establishing realistic assumptions about revenues, costs, market conditions, and economic factors is essential. Accurate forecasting techniques help predict future financial performance .A successful budgeting process requires a balanced approach that combines…

(3) Explain the ethical considerations as it relates to using budgets as a basis for rewarding managers? (4)Explain three specific benefits that a system of budgetary planning and control may bring to an organization.

Select each of the terms with the best description of its purpose. 1. Helps determine financing needs. Definitions 2. The usual starting point in the master budget process. 3. A report that shows predicted revenues and expenses for a budgeting period. 4. A budgetary cushion used to meet performance targets. 5. A comprehensive plan that consists of several budgets that are linked. 6. Employees affected by a budget help in preparing it. Terms

how can I apply MIS ( management information system ) successfully in this topic: A PERSONAL BUDGETING/EXPENDITURE SYSTEM (TRACKING OF EXPENSES AND INCOME, REPORTING DEFICITS)

Question One Costing and Budgeting are key components in the control of business operations. - Explain standard costing and state the any 3 types of standards. State the importance of standards. - Explain what a budget is and identify and 5 types of budgets -Outline the procedure followed in the preparations of the Master Budget - State the importance of using budgets in the control of operational costs.

Planning and Control Many companies use budgets for three purposes. First, they use them to plan how to deploy resources to best serve customers. Second, they use them to establish challenging goals, or stretch targets, to motivate employees to strive for exceptional results. Third, they use them to evaluate and reward employees. Assume that you are a sales manager working with your boss to create a sales budget for next year. Once the sales budget is established, it will influence how other departments within the company plan to deploy their resources. For example, the manufacturing manager will plan to produce enough units to meet budgeted unit sales. The sales budget will also be instrumental in determining your pay raise, potential for promotion, and bonus. If actual sales exceed the sales budget, it bodes well for your career. If actual sales are less than budgeted sales, it will diminish your financial compensation and potential for promotion. Required: 1. Do you think it would…

Here is a  topic discussion we can use for Chapter 7.Briefly describe the type of human behavior problems that might arise if budget goals are set too tightly. Make sure to include ideas to solve those problems.

A company can expect to receive which of the following benefits when it starts its budgeting process? a. The budget provides managers with a benchmark against which to compare actual results for performance evaluation. b. The planning required to develop the budget helps managers foresee and avoid potential problems before they occur. c. The budget helps motivate employees to achieve sales growth and cost-reduction goals. d. All of the above

Discuss why budgets are so important for all organizations. Describe some advantages and disadvantages to budgeting.

Provide a letter of advice:• discuss the key results of the income statement and cash budget• make one suggestion on how the client could improve the financial success of the cost management strategy• identify and discuss one non-financial factor that might affect the client’s decision to proceed with the chosen proposal• clearly state whether the client should proceed with the chosen proposal and why

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Course:  1) Discuss the human resources movement view of motivation 2) Discuss the different type of operating budgets  and financial budgets.

Ma4.   Being responsive to customer's needs means balancing all but which of the following?   Answers:   Production costs and feasibilities   Engineering contraints   Marketing challenges   Government safety and regulations   The budget