Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

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

Have any Question? 


Related Questions in Accounting Basics

Dq1respond to the ethics discussion case at the end of

DQ1 Respond to the Ethics Discussion Case at the end of chapter 5 in the textbook. Dan owns a successful sports bar in downtown Providence. The state is considering legislation that would restrict the sale of alcohol in ...

Modern furniture company had finally arrived at the point

Modern Furniture Company had finally arrived at the point where it had a sufficient excess cash flow of $4.8 million to consider paying a dividend. It had 3 million shares of stock outstanding and was considering paying ...

International accounting1 when discussing foreign currency

International Accounting 1. When discussing foreign currency exchange, there are several arrangements. List two of these. 2. A _________ is a contract between two or more parties. 3. What are the timelines for the new re ...

Question 1the production manager of rordan corporation has

Question 1: The production manager of Rordan Corporation has submitted the following forecast of units to be produced by quarter for the upcoming fiscal year:                                             1st Quarter      ...

Accountinguse the internet to research an annual report of

Accounting Use the Internet to research an annual report of a retail company. • Then, imagine you are an investor or creditor; suggest the ratios that you believe would provide an investor or creditor with the most impor ...

1 what is the difference between a significant deficiency

1) What is the difference between a significant deficiency and a material weakness as it relates to internal Control? How does the presence of one material deficiency affect the auditor's report on internal controls unde ...

1 is a trial balance that gives you the balances to use to

1) is a Trial Balance that gives you the balances to use to prepare the financial statements; 2) is a Template that you can use, note there are drop down choices - but, you can definitely use your own on Excel or similar ...

Principles of accountingthere are 10 questions each worth

Principles of Accounting There are 10 questions, each worth 10 points. Answer them fully and upload your document to the dropbox below. QUESTION 1 Harriet's Toy Shop had net sales of $852,000. The gross profit was $230,0 ...

1-15 multiple choice each multiple choice has only one

1-15. Multiple Choice Each multiple choice has only one correct answer. 1. Which of the following aspects of a company could be considered a critical success factor, given the appropriate business environment? A) cutting ...

Capital budgeting analyzing project cash flows alexandria

Capital Budgeting: Analyzing Project Cash Flows (Alexandria Chemical Products Company) In early 1980s Alexandria Chemical Products started as a small firm between two friends to produce detergent products. By the end of ...

  • 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

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen