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Budgeting is significant internal activity. Preparing budgets involves forecasting sales and estimating costs. For this SLP, you would create a flexible budget for next year for company of your option. The budget requires to be realistic and based on corporate and economic trends.

Companies prepare budgets based on absorption and/or variable costing. Due to lack of information, we're limiting our budgeting to the absorption approach. Don't forget that presentation of the information is important.

Set up flexible budget showing three different growth rates. Use financial statements and perform research on company of your choice to find out growth trends. Describe your estimates and create a flexible budget showing low, the average, and the high revenues and adjust all other line items in income statement to reflect th revised revenue assumptions.

• What is the growth rate in sales for the past three years?

• Are revenues and expenses growing at the same rate? What was the experience in the past few years?

• What is the present growth rate in the economy?

• How are the competitors doing?

• Present interest rates and tax burdens.

Discuss implications of the information after you have completed flexible budget.

• How does flexible budget differ from a static budget?

• Budgets are used for planning and control. Discuss how you could use information derived for these two purposes?

• Comment on using this information for performance evaluations.

Modular SLP Assignment Expectations

Always include name of the organization(s), time period covered and source of information. It is significant to answer the problems as posed. The document must be from 2 to 4 pages and written in a clear and concise manner. Don't forget to include tables as necessary. Support your discussion or tables with references in APA format. You are encouraged to use Excel or other compatible spreadsheet when computations are involved. You can turn in the spreadsheet instead of the Word document. The content must be equivalent to the page length suggested for word processing document.

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M92707

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