Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Financial Accounting Expert

Budgets and Managerial Responsibility

This module explores budgets and the benefits of creating budgets. In recent years, many organizations faced one of the hardest economic conditions with the recession. Many organizations were not prepared for this and did not have the budgets in place to withstand such devastating times. Budgets are a key financial tool for all organizations. What was once a task that was done on paper and around a large table can now be automated with computer-based financial planning technology. Managers have the technology and the ability to create real-time budgets that "make sense" for the organization and can be revised when needed.

Managers have the responsibility to create a budget in order to communicate the direction and goals for the different organizations and explore how each department is a key element of the overall organizations. Budgets also aid in judging performance by measuring financial results against planned objectives. Finally, budgets can be used a motivating factor for departments to meet the stated budget.

Module Outcomes: A, B, C, & D

Required Readings/Resources: Read Chapters 11 & 12 in Datar and Raj an Power points 11 & 12

Videos

- Flexible Budgeting

This video explains the concept of Flexible Budgeting in Managerial Accounting. A comprehensive example is provided to demonstrate how a flexible budget is created, and intuition is provided as to why a flexible budget is needed when the actual activity level differs from the budgeted activity level.

- The Importance and Use of Budgets Within an Organization

An overview of the importance and use of budgets within an organization

Discussion

"Strategy, plans, and budgets are unrelated to one another." Do you agree? Explain.

Explain how the manager's choice of the type of responsibility center (cost, revenue, profit, or investment) affects the behavior of other employees.

Refer to the MBA Discussions power point presentation for tips on how to gain maximum learning and points from your discussion engagement

Attachment:- Budgets and Managerial Responsibility.rar

Financial Accounting, Accounting

  • Category:- Financial Accounting
  • Reference No.:- M93117819
  • Price:- $10

Priced at Now at $10, Verified Solution

Have any Question? 


Related Questions in Financial Accounting

Budgets and managerial responsibilitythis module explores

Budgets and Managerial Responsibility This module explores budgets and the benefits of creating budgets. In recent years, many organizations faced one of the hardest economic conditions with the recession. Many organizat ...

Lease classification considering firm guidance issues

Lease Classification, Considering Firm Guidance (Issues Memo) Facts: Tech Startup Inc. ("Lessee") is entering into a contract with Developer Inc. ("Landlord") to rent Landlord's newly constructed office building located ...

Company a is a calendar year company that depreciates all

Company A is a calendar year company that depreciates all its machinery on a straight-line basis. On January 1, 2016, the company purchased machinery costing $100,000, with an estimated useful life of 10 years and a zero ...

Scenario assume that a manufacturing company usually pays a

Scenario: Assume that a manufacturing company usually pays a waste company (by the pound to haul away manufacturing waste. Recently, a landfill gas company offered to buy a small portion of the waste for cash, saving the ...

Can you please help me with thishow do restrictions affect

Can you please help me with this. How do restrictions affect net assets in Not- For -Profit organization or health care?

Corporate accounting assignment -assessment task -select

Corporate Accounting Assignment - Assessment task - Select two public limited companies listed on the Australian Securities Exchange (ASX) that are in the same industry. Go to the website of your selected companies. Then ...

Assessment task 1question no 1assessment taskbilby cos

Assessment Task 1 Question no. 1 Assessment Task: Bilby Co's income statement for the year ended 31 December 2015 and statements of financial position at 31 December 2014 and 31 December 2015 were as follows: Bilby co's ...

Chelsea is expected to pay an annual dividend of 126 a

Chelsea is expected to pay an annual dividend of $1.26 a share next year. The market price of the stock is $24.09 and the growth 2.6 percent. What is the cost of equity?

Accounting financial assignment -question - in recent years

Accounting Financial Assignment - Question - In recent years a number of companies have gone into liquidation (been 'wound up') because they have not been able to meet their liabilities when they fell due. In Australia, ...

Supply and demand graphto complete this assignment address

Supply and Demand Graph To complete this assignment, address the following requests: 1. Based on the information from the US Energy Information Administration, create the supply and demand graph in the space below. This ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Why might a bank avoid the use of interest rate swaps even

Why might a bank avoid the use of interest rate swaps, even when the institution is exposed to significant interest rate

Describe the difference between zero coupon bonds and

Describe the difference between zero coupon bonds and coupon bonds. Under what conditions will a coupon bond sell at a p

Compute the present value of an annuity of 880 per year

Compute the present value of an annuity of $ 880 per year for 16 years, given a discount rate of 6 percent per annum. As

Compute the present value of an 1150 payment made in ten

Compute the present value of an $1,150 payment made in ten years when the discount rate is 12 percent. (Do not round int

Compute the present value of an annuity of 699 per year

Compute the present value of an annuity of $ 699 per year for 19 years, given a discount rate of 6 percent per annum. As