Implementation of the decisions, Managerial Accounting

Implementation of the Decisions

Once alternative courses of action have been chosen, they must be implemented as part of the budgeting procedure. The budget is a financial plan for implementing the different decisions that management has made. The budgets for all the different decisions are stated in terms of cash inflows and outflows, and sales expenses and revenues. The budgets are merged altogether into a single uniting statement of the organization’s expectations for future periods. The statement is termed as a master budget. The master budget comprises budgeted profit and loss account, cash flow statement & balance sheet. The budgeting procedure communicates to everyone in the organization the part they are predictable to play in implementing the management's decisions.

Posted Date: 12/4/2012 6:40:05 AM | Location : United States







Related Discussions:- Implementation of the decisions, Assignment Help, Ask Question on Implementation of the decisions, Get Answer, Expert's Help, Implementation of the decisions Discussions

Write discussion on Implementation of the decisions
Your posts are moderated
Related Questions
Risk seeking:  A risk seeker is a decision maker who is concerned in the best likely outcome no matter how small the chance that they might take place i.e. he takes high risks

Application of Transportation Model In the direct logic, the transportation model looks for the determination of a transportation plan of a particular commodity from a number o

Cost comprise impact Some of the policy choices which tend to have the maximum impact on cost comprise: Product performance, configuration, and characteristics Mix and

Describe Benchmarking It is the process of measuring products service or activities against the best level of performance which may be found either inside or outside the organi

Explain Direct labor cost standard The setting up of standard labor cost for each product would require: a) The determination of budgeted fixed overhead for a period b) B

One of the significant elements of credit management is the assessment of the credit risk of the customer.  As assessing risk two kind of errors arise that are as follows. Type

Disadvantages of the cost accounting: 1. It is unnecessary: it is argued that maintenance of the cost records is not necessary and involves duplication of work. It is based o

Explain Activities uses through activities based costing In order to correctly associate costs with products and services. ABC assigns cost to activities based on their use of

SK 2 Chapter 10: Master budgeting Objective How organisations strive to achieve their financial goals by preparing a number of budgets that together form an integrated business pla

RULES OF GAME THEORY 1) The number of competitors is finite. 2) There is a conflict of interests between the participants. 3) Each of these participants has available to