財務(wù)預(yù)算管理英文

WorkofManagement

PlanningControllingDirectingand

MotivatingRemember!PlanningandControlPlanning--involvesdevelopingobjectivesandpreparingvariousbudgetstoachievetheseobjectives.Control--involvesthestepstakenbymanagementthatattempttoensuretheobjectivesareattained.Ituncoverspotentialbottlenecksbeforetheyoccur.Itcoordinatestheactivitiesoftheentireorganizationbyintegratingtheplansandobjectivesofthevariousparts.Itensuresthataccountingrecordscomplywithgenerallyacceptedaccountingprinciples.Itprovidesbenchmarksforevaluatingsubsequentperformance.Whichofthefollowingisnotabenefitofbudgeting?AdvantagesofBudgetingAdvantagesCommunicatingplansThinkaboutandplanforthefutureMeansofallocatingresourcesUncoverpotentialbottlenecksCoordinateactivitiesDefinegoalandobjectivesResponsibilityAccounting

Managersshouldbeheldresponsibleforthoseitems—andonlythoseitems—that

themanagercanactuallycontrol

toasignificantextent.FairmontInc.usesanaccountingsystemthatchargescoststothemanagerwhohasbeendelegatedtheauthoritytomakedecisionsconcerningthecosts.Forexample,ifthesalesmanageracceptsarushorderthatwillresultinhigherthannormalmanufacturingcosts,theseadditionalcostsarechargedtothesalesmanagerbecausetheauthoritytoacceptordeclinetherushorderwasgiventothesalesmanager.Thistypeofaccountingsystemisknownas:A) responsibilityaccounting.B) contributionaccounting.C) absorptionaccounting.D) operationalbudgeting.ChoosingtheBudgetPeriodOperatingBudget1999200020012002Theannualoperatingbudgetmaybedividedintoquarterlyormonthlybudgets.ChoosingtheBudgetPeriod1999200020012002ContinuousorPerpetualBudgetThisbudgetisusuallyatwelve-monthbudgetthatrollsforwardonemonthasthecurrentmonthiscompleted.ParticipativeBudgetSystemFlowofBudgetDataTheBudgetCommitteeAstandingcommitteeresponsibleforoverallpolicymattersrelatingtothebudgetcoordinatingthepreparationofthebudgetAmethodofbudgetinginwhichthecostofeachprogrammustbejustifiedeveryyeariscalled:

operationalbudgeting.zero-basedbudgeting.continuousbudgeting.responsibilityaccounting.Zero-BaseBudgetingManagersarerequiredtojustifyallbudgetedexpenditures,notjustchangesinthebudgetfromthepreviousyear.Thebaselineiszeroratherthanlastyear’sbudget.Letuspracticeonthebasicsofbudgeting!ParleeCompany'ssalesare30%incashand70%oncredit.Sixtypercentofthecreditsalesarecollectedinthemonthofsale,25%inthemonthfollowingsale,and12%inthesecondmonthfollowingsale.Theremainderareuncollectible.Thefollowingarebudgetedsalesdata:

Totalsales:

January $60,000 February $70,000 March $50,000 April $30,000TotalcashreceiptsinAprilwouldbebudgetedtobe: A) $38,900. B) $47,900. C) $27,230. D) $36,230.

ModestoCompanyproducesandsellsProductAlphaB.Toguardagainststockouts,thecompanyrequiresthat20%ofthenextmonth'ssalesbeonhandattheendofeachmonth.BudgetedsalesofProductAlphaBoverthenextfourmonthsare:

Budgetedsalesinunits

June

July

August

September 30,000 40,000 60,000 50,000BudgetedproductionforAugustwouldbe:

A)62,000units.B)70,000units.

C)58,000units.D)50,000units.

FridenCompanyhasbudgetedsalesandproductionoverthenextquarterasfollows:

April

May

JuneSalesinunits 100,000 120,000 ?Productioninunits 104,000 128,000 156,000

Thecompanyhas20,000unitsofproductonhandatApril1.Aminimumof20%ofthenextmonth'ssalesneedsinunitsmustbeonhandattheendofeachmonth.Julysalesareexpectedtobe140,000units.

BudgetedsalesforJunewouldbe(inunits):A)188,000.B)160,000.C)128,000.D)184,000

MarpleCompany'sbudgetedproductioninunitsandbudgetedrawmaterialspurchasesoverthenextthreemonthsaregivenbelow:

January

February

MarchBudgetedproduction(inunits)60,000 ? 100,000Budgetedrawmaterialspurchases(inkilograms) 129,000 165,000 188,000

Twokilogramsofrawmaterialsarerequiredtoproduceoneunitofproduct.Thecompanywantsrawmaterialsonhandattheendofeachmonthequalto30%ofthefollowingmonth'sproductionneeds.Thecompanyisexpectedtohave36,000kilogramsofrawmaterialsonhandonJanuary1.

BudgetedproductionforFebruaryshouldbe:

A)105,000units.B)82,500units.

C)150,000units.D)75,000units.Now,themotivationalsideofbudgeting!Budgetscanbedefinedas: “aquantitativemodel,orsummaryoftheexpectedconsequencesoftheorganization’sshort-termoperatingactivities.”ManagementAccountingAtkinson,Banker,Kaplan&YoungWhatisthisdefinitionimplying?Thedefinitionsuggests:Availabilityofquantitativedata,Predictabilityofshort-termoutcomes,Clear-cutorganizationalstructures. Thereisonemajorlogicalproblem,whichis?

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