Answered: Now, as a management accountant, choose…

Now, as a management accountant, choose three (3) negative attitudes, explain them and write yourr ecommendations on how you will address these negative attitudes from a management’s perspective.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 6MC: Which of the following is true in a bottom-up budgeting approach? Every expense needs to be...

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Question

Management accountants must try to implement systems that are acceptable to budget stakeholders to produce positive effects.

Now, as a management accountant, choose three (3) negative attitudes, explain them and write yourr ecommendations on how you will address these negative attitudes from a management’s perspective. It couldi ether be a policy that the management will implement or an action that will be undertaken by management to counteract the negative attitude.

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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Similar questions

Which of the following is true in a bottom-up budgeting approach? Every expense needs to be justified. Supervisors tell departments their budget amount and the departments are free to work within those amounts. Departments budget their needs however they see fit. Departments determine their needs and relate them to the overall goals.
What should an organization do if performance measures change? A. Make sure that the manager being evaluated is aware of the measurement change, as this may affect his or her decision-making. B. Make sure that the manager benefits without the corporation also benefitting. C. Make sure that there are significant overriding opportunities for each manager, if the manager is unaware of the change. D. Obtain customer surveys on the change before communicating the change to the manager.
When managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the goals of the company as well as their own personal job goals, the framework used is _______. A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting framework
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Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing performance evaluations D. preventing net operating losses
Suppose that the controller of your companys largest factory is a particularly optimistic individual. If you were in charge of developing the master budget, how, if at all, would you be influenced by this knowledge?
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Budgeting can be an important management tool if implemented properly. Identify several positive results when budgets are used properly. Since budgets affect people, identify several negative aspects if budgets are not implemented properly. Additionally, please discuss in detail how the budgeting process is essential to managers.
Which one of the following is not considered to be a benefit of participative budgeting? When managers set the final targets for the budget, top management need not be concerned with the overall profitability of current operations. Managers are more motivated to reach the budget goals because they participated in setting them. Individuals at all organizational levels are recognized as being part of the team; this results in greater support of the organization. The budget estimates are prepared by those in direct contact with various activities.
the chief executive of your company has asked you to recommend an approach to be used in preparing budgets and to draft guidelines for senior managers on managing performance using budgets. as teh management accountant prepare a report to the chief executive describing your selected approach and your recommended guidelines for senior managers. In preparing your report you should consider the behavioural consequences of using budgets in planning and control
The chief executive of your company has asked you to recommend an approach to be used in preparing budgets and to draft guidelines for senior managers on managing performance using budgets. As the management accountant prepare a report to the chief executive describing your selected approach and your recommended guidelines for senior managers. In preparing your report you should consider the behavioural consequences of using budgets in planning and control.
Which of the following best describes the role of top management in the budgeting process? Should be involved only in the approval Should not necessarily have detailed knowledge of the daily operations and should limit their involvement Should be enthusiastic and committed to the budget process Separates the budgeting process and the business planning process please answer immediately :)