I will be conducting and reporting on an interview with my school asst business administrator about the budget process. Please list a series of questions I should be asking when preparing for a school budget. Ty :)

Which of the following goals is accomplished when an audit process occurs at the end of the budget year? Select all that apply.   Preventing fraud and waste   Ensuring the accuracy of operation   Ensuring compliance with policies and applicable laws   Interviewing and hiring budget personnel for the next budget year

Bank loan officers would find which of the following budgets to be one of the most important in determining whether or not to give a company a loan? Sales budget O Production budget O Budgeted income statement O Budgeted balance sheet O Cash budget

1. Briefly describe the two types of financial statements that government are required to issue under GASB 34 2. Why do governments make a journal entry to record the budget?

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.

Matthew is concerned about his ability to save money regularly and has prepared a budget. Which of the following budget classifications would be most appropriate for Matthew's budget?   a. Savings as a variable expenditure     b. Savings as a fixed expenditure     c. Saving whatever may be left over     d. Savings withheld from income and deposited directly to savings