Management director of the new i can business incorporated

Assignment Help Accounting Basics

Reference no: EM131124893

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 4-5 page 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.
Explain the budget cycle and process.
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 5 basic budget guidelines.

Reference no: EM131124893

Questions Cloud

Which are organic chemical groups that compose carbohydrates : Which are the organic chemical groups that compose carbohydrates- how they are categorized according to the presence of those groups

Research assignment different presentation formats : The August 10, 1998, issue of BusinessWeek includes the article "Nokia" (p. 54). Read this article and complete the following requirements.

Definition of democracy influence the political process : How does a definition of democracy influence the political process? What factors should contribute to “good” government? What is America today – more like Hobbes, Locke, or Rousseau?

How many units of fish could it now consume along : how many units of fish could it now consume along with the 80 units of imported wheat?

Management director of the new i can business incorporated : 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.

Evaluate relative worth of management jobs at the company : Explain and evaluate the relative worth of management jobs at the company and determine a compensation structure to assist retention and career management of this important element of the company's human resources.

Name the organic chemical groups that compose carbohydrates : Name the organic chemical groups that compose carbohydrates- how they are categorized according to the presence of those groups

Briefly describe environment and describe the organisms role : Briefly describe the environment (temperature, landscape, food sources, etc.) and describe the organism's role in the environment. Determine which organism your chosen organism be most closely related to using a phylogenetic tree.

Bonds payable-calculate issue price and amortize premium : Bonds payable-calculate issue price and amortize premium On January 1, 2013, Learned, Inc., issued $90 million face amount of 20-year, 14% stated rate bonds when market interest rates were 16%. The bonds pay interest semiannually each June 30 and ..

User Account

All Pages