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Suppose that the controller of your company’s 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?
Cornerstones of Cost Management (C...
Solutions
Cornerstones of Cost Management (C...
Suppose that the controller of your company’s 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?
Explain how will you influenced by the knowledge if you are appointed to prepare the master budget. (Assume the controller of factory is an optimistic person).
Explanation of Solution
Master Budget: The master budget is the core budget that describes the full process of budget. This budget shows all the operating and financial budgets of the company for a budgeted accounting period and this budget includes all the budgets and budgeted financial statements.
The person who is hired for preparing the master budget can underestimate the cost of dire...
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