Address the reasons for and benefits of budgeting

Assignment Help Accounting Basics

Reference no: EM132672726

Preparea report for your chosen corporation's senior managers to interpret and explain the SEC10K financial reports.

The following are concepts you should consider for discussion:

Question 1: Address the reasons for and benefits of budgeting.

Question 2: Discuss the concept of using budgets for variance analysis and strategy.

Question 3: How are budgets used to evaluate performance (i.e. variance analysis)?

Question 4: How can and should management use variance analysis for strategic purposes?

Question 5: How would a company be affected by budget strategy based on personal goals (i.e. padding the budget to make short term operational results look good) rather than budgeting based on current and future market analysis?

Question 6: How might this affect sales dollars, sales volume, and profits? Consider the impact of these budgeting decision on the corporation's plans for future financing, production volume and capacity (both short term and long term).

Reference no: EM132672726

Questions Cloud

Explain the entries suggested by li chen are correct : Determine the consolidation worksheet entries in the following year, assuming the inventory has been -sold, and explain the adjustments on a line-by-line basis

What are the most effective methods political parties : What are the most effective methods political parties use to stimulate the electorate. Should parties consider new techniques to reach a younger demographic?

What is the yield to call for these bonds : Question - Atlantis Fisheries issues zero coupon bonds on the market at a price of $483 per bond. What is the yield to call for these bonds

What is the relationship between imf policies : What is the relationship between IMF policies and economic development in Less Developed Countries

Address the reasons for and benefits of budgeting : Discuss the concept of using budgets for variance analysis and strategy. How are budgets used to evaluate performance (i.e. variance analysis)?

Four assumptions of classical liberalism : What are ideologies? When and why did they emerge (identify three major historical reasons)? Compare and contrast four assumptions of classical liberalism

What is the yield to maturity for these bonds : Question - Atlantis Fisheries issues zero coupon bonds on the market at a price of $597 per bond. What is the yield to maturity for these bonds

Who is machiavelli : Who is Machiavelli? What did he contribute to the study of politics? Identify four major directives that Machiavelli would give to Prince

What might happen if the business strategy was not driver : Why is it important for business strategy to drive organizational strategy and IS strategy? What might happen if the business strategy was not the driver?

User Account

All Pages