Time management questions for college students 101,inventory management diploma courses,md lottery history search,effective business communication by murphy in pdf - PDF 2016

Budgeting involves planning for the various revenue producing and cost generating activities of an organization.
Committed costs refers to the costs associated with establishing and maintaining the readiness to conduct business.
Four types of budgets are used for planning and controlling the various types of costs discussed above. The master budget has two major parts including the operating budget and the financial budget (See Exhibit 9-4). The planning process encourages management to consider alternatives that might improve customer value and reduce costs. The master budget also provides a guide for accomplishing the objectives included in the plan. The master budget provides a method for evaluating and subsequently controlling performance. There are several limitations and problems associated with the master budget that need to be considered by management. Budgeting includes a considerable amount of forecasting and this activity involves a considerable amount of uncertainty. A second problem involves a variety of behavioral conflicts that are created when the budget is used as a control device.
A third problem or limitation is that budgeting requires a considerable amount of time and effort. Responsibility accounting is an underlying concept of accounting performance measurement systems.
Conceptually, ROI is some measure of the segment's income divided by some measure of the segment's investment.
Managers and workers in an individualistic system tend to be motivated by measurements that emphasize their individual performances.
This harsh criticism of accounting control information leads us to a very important controversial question. These calculations are relatively simple, but where does the budget director obtain this information?
The information needed to develop an equation for collections is provided by the finance department and is normally based on past experience.
The quantity of material required per unit of product is determined by the industrial engineers who designed the product.
This calculation is more involved than equation 3b appears to indicate because it includes information for two future periods. Fewer calculations are needed for direct labor than for direct materials because labor hours cannot be stored in the inventory for future use. The amount of direct labor time needed per unit of product is determined by industrial engineers.
The budgeted rates per hour for direct labor are provided by the human resource department. The factory overhead budget is based on a flexible budget calculation as described in Exhibit 9-3. This is a cumulative equation that combines the equations for the company's various types of indirect resources.


The calculation for cash payments reflects one of the differences between cash flows and accrual accounting. The dollar amount for the ending inventory of finished goods is needed below to determine cost of goods sold. The budgeted or standard unit cost can be calculated at any time after the budgeted quantities per unit and input prices are obtained. Although budgeted unit cost equals standard unit cost, budgeted cost of goods sold is not equal to standard cost of goods sold. The preparation of the selling and administrative expense budgets is very similar to the approach used for factory overhead. As indicated in Exhibit 9-4, the financial budget includes the cash budget, the capital budget and the budgeted balance sheet. The following examples and end of chapter practice problems will help you become familiar with the master budget concepts and techniques. The Expando Company produces entertainment centers from a type of pressed wood referred to as particle board. 2,700 corporate executives, it is the most important accounting knowledge and skill area for those who enter management accounting.
Planning, programming, and budgeting systems were popular for government decision making in the 1960's. 3 Walmart, Levi Strauss and Ford Motor Company have similar relationships with their vendors. An advantage of this approach is that performance is more easily compared from one period to the next. This model is discussed in Chapter 11 and altered to conform to absorption costing in Chapter 12.
Desired ending inventories of materials and finished goods are based on 5% of next periods needs. Desired ending inventories of materials are based on 10% of the next months materials needed. Desired ending inventories of materials are based on 4% of the next months materials needed.
The Microtable Company produces and sells special wood tables that are used with microcomputers. Overhead rates are based on a capacity level 500 machine hours per month and overhead is applied on the basis of robot (machine) hours. Desired ending inventories of materials are based on 10% of the next months materials needed for production. Calculate the budgeted amounts indicated below, then circle the letter for the answer you choose.
As we start to unravel what connective-ism means for each of us individually in our business and home lives the continuing thoughts flow right into the education system. During one of Jeff’s presentations yesterday, he displayed a pyramid called Bloom’s Digital Taxonomy Pyramid, which really spoke to me – this model puts the tools and concepts into multiple learning layers and illustrates how learning can change with all the connections and tools that continue to develop, and in the end, produce creative, innovative members of society. Outline the main parts of a master budget including the sequence in which they are developed. Describe responsibility accounting and discuss the controversy associated with this concept.


Prepare the various schedules or sub-budgets included in a master budget or financial plan. Examples include employee training, advertising, sales promotion, legal advice, preventive maintenance, and research and development. In the next section, we consider the purposes, benefits, limitations and assumptions of the master budget. Thus, the budgeted sales price is usually determined after the budgeted unit cost has been calculated (see 6b. Normally the budget should reflect a situation where the company pays promptly to take advantage of all cash discounts allowed, thus 3e may be equal to 3c. Bad debt expense is based on the expected proportion of uncollectibles stated in the information related to cash collections. Desired ending inventories are 10% of next periods material needs for direct material and 5% of next periods sales for finished goods. What factors should be considered in determining the desired ending inventory of finished goods? To be consistent with the matching concept, what should be the basis of the amount of bad debts that appears on the income statement? You might also find it useful to review the discussion of the behavioral aspects of inventory valuation in Chapter 8.
Appropriation budgets are used to set the maximum amounts for many types of discretionary expenditures. Increase net income in future months as well as decrease cash outflows in the current and future periods. Communication to managers of how their efforts add value to the organization's products or services. Depreciation and other non-cash fixed costs are: manufacturing = $100,000, selling and administrative = $75,000. For the remainder of this problem ignore your answer to question 3 and assume that the budgeted units to be produced for February are 5,030. Assume 100 additional units of production are budgeted for February with no change in budgeted unit sales. How, with a world moving so fast and made smaller or larger, depending on your perspective, by all the connections, do we re-engineer the education system to provide a 21st Century education for our children, their children and the generations to come? This is a very exciting time as education will be changed forever as slowly but surely schools and societies embrace the benefits of connective-ism. But for that to happen in a constructive way, our schools require strong leadership relationships, buy in from staff, and a willingness to let go.
As a person who works within a school, it looks to be an exciting yet difficult task ahead.
We get to play catch up with how the world is already wired and with that connectivity comes all the different ways in which we can facilitate learning within our school environments.



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time management questions for college students 101



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