First Discussion Board Post (due Wednesday)In your internet browser, search for the terms "Participatory Budgeting" and "Budgetary Slack." Review a few of the results so you understand what the terms meanand the implications when used by managers. Then, read the "Ethics Challenge" near the end of the Master Budgeting chapter problems in your textbook.Required:Share your responses to the following questions with your classmates. Based on your reading:1. Do you think Granger Stokes is using budgets appropriately?2. What sort of behavioral consequences may occur as a result of the way budgets are used at Prime Drive?3. What would you do if you were in Keri Kalani's position?

Budgeting-:Budgeting is the procedure of building an agenda to disburse your money. This spending…

Answered: First Discuss In your internet bre and…

Business

Accounting

First Discuss In your internet bre and the implication Required: share your respons

Personal Finance

13th Edition

ISBN:9781337669214

Author:GARMAN

Publisher:GARMAN

Chapter3: Financial Statements, Tools, And Budgets

Section: Chapter Questions

Problem 4FPC

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Your friend, Catherine Ross, owns Knockoffs Unlimited, a nationwide distributor of low-cost imitation designer necklaces. She has contacted you for some assistance because the accounting clerk, George Forrest, recently won a sum of money and decided to resign immediately. Catherine knows that you are completing an accounting course at Cape Breton University and hopes you can prepare the cash budget for the upcoming quarter (April, May and June, 2021). Catherine has provided you with the budgets completed by George. She has also provided you with additional information that will assist with the completion of the cash budget. Completed Budgets (April, May, June, and Quarter Total, 2021) please find the required numerical information from the images attached REQUIRED: Prepare a cash budget . Show the budget by month and in total. What will be reported on the budgeted balance sheet at June 30, 2021 for accounts receivable? Supporting calculations required to earn available…
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Manny, a budget officer, conducted a class for non-accounting managers and program directors on the subject of budgets. Manny began the class discussion by asking, “What are some of the uses of a budget?” One manager replied, “Planning.” Another said, “Evaluating performance.” Still, another suggested “Coordinating activities.” “What about implementing plans?” inquired another. “Or communicating them?” added someone else. “Don’t forget motivation,” one manager warned from the rear of the room. “I’m on the school board,” commented another, “and we use it to authorize actions.” Finally, one manager asked, “Can budgets do all that?” Manny responded, “all that and more.” Select at least two of the uses suggested by the managers and explain how budgets accomplish those uses.
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Behavioral Aspects of Budgeting; Ethics and the Manager Norton Company, a manufacturer of infant furniture and carriages, is in the initial stages of preparing the annual budget for next year. Scott Ford has recently joined Norton’s accounting staff and wants to learn as much as possible about the company’s budgeting process. During a recent lunch with Marge Atkins, sales manager, and Pete Granger, production manager, Ford initiated the following conversation. Ford: Since I’m new around here and am going to be involved with the preparation of the annual budget, I’d be interested to learn how the two of you estimate sales and production numbers. Atkins: We start out very methodically by looking at recent history, discussing what we know about current accounts, potential customers, and the general state of consumer spending. Then, we add that usual dose of intuition to come up with the best forecast we can. Granger: I usually rake the sales projections as the basis for my projections. Of…
Budgeting is important not only for businesses. Also in our personal lives we have scarce resources, especially money and time, but also other resources like for example cell phone data, use of the family computer or family TV set, access to childcare etc. Our college prepares annual budgets as well. Please look at page 10, the Unrestricted General Fund and share your observations about at least 2 line items of your choice. Compare the 2020/2021 budgeted amounts with the 2019/2020 actual amounts. What are the differences (or similarities) that you can observe.
Another team member who is preparing the Budgeted Balance Sheet for the business forthe same quarter and has asked you to furnish him with the figures for the expected tradereceivables and payables to be included in the statement. Is that a reasonable request? Ifyes, what should these amounts be?
Please help solve all question Mega Empire Bhd. is in the inital stages of preparing the annual budget for next year. Danial, has recently joined the company as management accountant and is interested to learn as much as possible about the company’s budgeting process. After the recent meeting with the Sales Manager who is Zack and Aaron as the Production Manager, Danial initiated the following conversation Danial: Since I am new around here and I am going to be involved with the preparation of the annual budget. I’d be interested to learn how the two of you estimate sales and production numbers. Zack: We start out very methodically by looking at recent history, discussing what we know about current accounts, potential customers, and the general state of consumer spending. Then we add the usual dose of intuition to come up with the best forecast we can. Aaron: I usually take the sales projections as a basis for my projections. Of course we have to make estimate of what this year’s…