Reference no: EM131177238
Components of the Master Budget
A master budget provides an overarching view of an organization's goals and expectations for the future. Due to its all-encompassing nature, there can be many components which are found in a master budget, each related to a different business operation or department, including the Human Resources department.
· For each section of the master budget, describe its purpose, the type of information that would be contained in that particular section, and the importance of that budget section to the success of the organization. Consider the role of the Human Resource department. Discuss the importance of the master budget to the success of the HR function. What if any conflicts or potential inconsistencies might exist between an HR budget and the master budget? Be specific.
· Comment on why each budget piece must be created in that specific order. For example, why does the sales budget have to come before the production budget?
TEXT Other resources can be used
Shim, J. K., & Siegel, J. G. (2012). Budgeting basics and beyond (4th ed.). Hoboken, NJ: John Wiley & Sons.
Chapter 6, "Master Budget: Genesis of Financial Forecasting and Profit Planning"
Chapter 6 identifies the components of a comprehensive budget, or master budget, which is a formal statement of a company's or division's expectations for all financial transactions in an upcoming period. The chapter discusses some components of a master budget and how to manage each component either by hand or with an electronic spreadsheet.
|
Discourage a supplier competition from stealing business
: How does this provision, which essentially turns $60 of variable cost into a fixed cost for you. Discourage a supplier's competition from stealing business?
|
|
Reports vary between levels of management
: An example from work would be nice. Otherwise, please clearly explain how the reports vary between levels of management and why.
|
|
Evaluate ways in which hr can manage the outsourcing
: Using the models in the Baloh, et al., article and your additional research, evaluate ways in which HR can manage the outsourcing of innovation.
|
|
Calculate an approximation to the integrals
: Do this by starting with N = 10 and doubling N until you are satisfied that you have the required accuracy.
|
|
Why each budget piece must be created in that specific order
: Comment on why each budget piece must be created in that specific order. For example, why does the sales budget have to come before the production budget?
|
|
Write a program for the corrected trapezoid rule
: Write a program for the corrected trapezoid rule. In this case input will consist of f(x), f´(x), [a,b], and N. Apply this program to the integral in Exercise 7.4-3 and compare the results with those given by Simpson's rule.
|
|
How would the concept be used in a long-term strategy
: How would this concept be used in a long-term strategy? What would be the concerns of failing to use this concept when considering capital expenditures?
|
|
Explain the actions of the fed
: Explain the actions of the Fed in regard to the three tools.
|
|
Find examples in the news to demonstrate the consequences
: In addition, comment on some potential consequences of unethical behavior in budgeting. Find examples in the news to demonstrate the consequences.
|