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Write a 2,500 word essay on the following topic:
"The budget has historically played center stage in most organizations' systems of management control (Otley, 1994).
However, recently it has been the subject of considerable criticism (Hansen et al., 2003).
Budgeting has been deemed ‘broken' (Jensen, 2001), ‘a thing of the past' (Gurton, 1999), or an ‘unnecessary evil' (Wallander, 1999)"
Required:
Critically assess the arguments and the evidence for the claim that organizations no longer need budgets.
What percentage of gross domestic product does spending for federal programs represent? What percentage does state and local government spending represent?
Calculate the amount of joint cost allocated to commercial building lumber (CBL) on a physical units basis. Calculate the amount of joint cost allocated to the mine support braces (MSB) on a relative-salesvalue basis.
Based on the following questions, ignore income taxes and make the assumption that the company's compulsory return is 14%. In order to calculate the depreciation, this company uses the straight-line method.
Describe customer perceived value, total customer benefit, and total customer cost. How do the total customer benefit and the total customer cost affect the consumer's perception? Explain.
There're four primary techniques of examining capital decisions - two are discounting techniques and two aren't. Please pick one of them, describe the method and the pros and cons.
The concept of the cash conversion cycle, it's application of the concept in the Lawrence Sports simulation and its reference to the required reading.
Provide a critical evaluation of the relevant techniques and recommend an appropriate techniques to be applied -
Determine the best sales mix. Rank the services offered in order of their profitability and which ranking would you recommend? What additional amount of total contribution margin would be generated if your recommendation were to be accepted?
Generally forecasting and planning is considered the preview of the financial accountant or the forecasting and planning department.
What are general controls? What is the relationship between general computer controls and application controls? Why is management concerned about the effectiveness of these controls?
What is the unit product cost for the month under variable costing and what is the unit product cost for the month under absorption costing?
Recognize a product or service in your organization which could use ABC. You can as well use this technique for selling and administrative costs.
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