Explain the similarities and differences of the two budgets

Assignment Help Finance Basics
Reference no: EM131134720

BUDGETING IP

You were recently hired as management director of the new I Can Business Incorporated (ICBI). You have been asked to establish policies and systems for the business. The first one you choose to work on is a financial reporting system.

For this assignment, you must develop a memo that you will deliver to the board of directors of ICBI. You will describe what a financial reporting system is and explain how management of ICBI should use an activity based budget instead of an operating budget. Be sure to explain the similarities and the differences of the two. Finally, give examples of budget guidelines for ICBI. You must answer the following questions:

Describe the meaning and the components of a financial reporting system.

Write a description of how management should use an activity based budget instead of an operating budget

Explain the similarities and differences of the two budgets.

Give an example of budget guidelines that ICBI should follow in order to successfully plan.

Identify and describe at least five (5) basic budget guidelines.

Remember to use the library or other credible resources to support your argument. Be sure to cite your sources using the correct standard of APA.

Reference no: EM131134720

Questions Cloud

What will be the frequency of the q allele after selection : If you have a population, with a frequency of the p allele (A)equal to 0.25, and you apply the selection outlined below, what will be the frequency of the q allele after selection
Analysis of past or current world events : The purpose of having you write a research paper is to gauge how effectively you can apply information covered in class to real-world situations and circumstances - analysis of past or current world events, your work existence, school environment, ..
A matrix of significant legislation affecting health care : Create a matrix of significant legislation affecting health care information systems since the year 2000. Address, within the matrix, changes based on current influences and challenges to meet legislative expectations.
What are the executive s assumptions : According to an executive of a baseball team, If my assumptions are correct, our team is willing to pay a maximum of $3 million for a pitcher in the free-agent market. (Related to Application 3 on page 625.)
Explain the similarities and differences of the two budgets : Explain the similarities and differences of the two budgets. Give an example of budget guidelines that ICBI should follow in order to successfully plan.
What does multicultural education look like in a classroom : What does multicultural education look like in a classroom in which the teacher does not reinforce the stereotypes related to different cultures?
What is the frequency of the a allele in the population : In a population of 2,454 moths, you observe 532 moths that have large spots on their wings. What is the frequency of the A allele in the population
What are the frequencies of the various genotypes : What are the frequencies of the various genotypes and various phenotypes in this population? Assume Hardy-Weinberg equilibrium
How does culture affect the learning of students : Based on these videos and the readings you have done throughout this course, what have you learned about different cultures? What does culture mean to you? How does culture affect the learning of students?

Reviews

Write a Review

Finance Basics Questions & Answers

  Byters on call provides computer repairs on-site and has a

byters on call provides computer repairs on-site and has a contribution margin ratio of 32 a contribution margin per

  Ibm corporation is selling at 4013 per share and call

ibm corporation is selling at 40.13 per share and call options begin trading with many different strike prices and

  What is the net present value for this project

The tax rate is 33 percent and the required return for the project is 15 percent. What is the net present value for this project?

  Calculate degree of combined leverage

Which of the following is a correct way to calculate degree of combined leverage?

  Comment on whether each of the following three industries

Comment on whether each of the following three industries is sensitive to the business cycle. If it is sensitive, does it do better in a boom period or a recession?a) Auto-mobilesb) Pharmaceuticalsc) Housing

  Determining the discounted payback period for cash flows

What is the discounted payback period for these cash flows if the initial cost is $5,900?

  What is the best estimate of the nominal interest rate

Assuming that interest rates in the economy are expected to remain at their current level, what is the best estimate of the nominal interest rate on new bonds? Round your answer to two decimal places.

  Compute the eac for both machines

For both milling machines, use straight-line depreciation to zero over the project's life and assume a salvage value of $ 20,000. If your tax rate is 35 % and your discount rate is 14 %, compute the EAC for both machines. Which do you prefer? Why?

  If the recovery value for a-rated bonds in the event of

an investor holds a portfolio of 100 million. this portfolio consists of a-rated bonds 40 million and bbb-rated bonds

  Discuss what it means for a firm to have a current ratio

1. what effect would the following actions have on a firms current ratio? assume that net working capital is

  Explain how would you rebalance your portfolio between the

assume that you maintain bonds and money market securities in your portfolio and you suddenly believe that long-term

  What price would you expect rylan''s stock to sell

if the current price of rylan stock is $32.63 and rylan's equity cost of capital is 14%. what price would you expect rylan's stock to sell for at the end of the four years?

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd