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Week 5 Key Concept Exercise Budgeting and financing the organisation Print Page This week's Key Concept Exercise is intended to get you thinking about the use of budgeting in an organisation. There are many different types of budgets. This week, you will consider different budgeting approaches such as flexible, zero-based and rolling budgets in organisations. To prepare for the Key Concept Exercise: Read the Required Learning Resources for Week 5. Consider the value of budgeting for an organisation. Consider the different budgeting approaches. Consider the behavioural aspects of budgeting. In formulating your Key Concept Exercise, consider the following questions: Consider different budgeting approaches in an organisation. Consider how the budgeting approaches may differ among various organisations, such as a Fortune 500 company, a small business or a non-profit. What are the characteristics of a budgeting system among the various organisations? What are some of the ethical issues related to budgeting and the successful implementation of a budget? In an approximately 500-word response, address the following issues/questions: 'I don't need a budget; I run my own business so it's all in my head. Bothering with a budget would just be a waste of time and money!' Do you agree or disagree with this point of view? Discuss the value of budgeting for organisations of all sizes and types in terms of effective resource management. Explain what characteristics of a budgeting system are most likely to contribute towards its successful implementation and how a lack of these might result in ethical problems. To complete this Key Concept Exercise: Be sure to read over your Key Concept Exercise before submitting it to your Instructor. Make sure the spelling and grammar are correct and the language, citing and referencing you use when providing your opinion are appropriate for academic writing.
journal entries to record the transactionsassuming the perpetual inventory system is used complete journal entries for
(Learning Objective 2: Apply GAAP for proper revenue recognition) On December 23, 2012, Big Sky Sports Manufacturing sells a truckload of sporting goods to the Sports R Us store in Amarillo, Texas. The terms of the sale are FOB destination.
Farmer contributed land to an LLC in exchange for a 34% interest in capital and profits and losses. Farmer’s basis in the property was $300,000 and its fair market value was $540,000. Contractor contributed his services and the use of his equipment f..
What is the variable overhead spending variance for the month?
short question on direct and indirect costs.which one of the following statements best explains why companies want to
Albertville has a direct labor standard of two hours per unit of output. All employee has a standard wage rate of $22.50 per hour. Throughout July Albertville paid $189,500 to employees for 8,890 hours worked. 4,700 units were produced throughout ..
You suspect that your immediate supervisor is involved in a significant fraud involving diverting of company assets to personal use. Briefly describe the steps you might take to resolve this dilemma.
Prepare needed journal entries for 2014 and 2015. Be sure to indicate whether each entry should be made to an unrestricted or temporarily restricted fund. You need not, thus, record the indirect costs themselves.
essay petra industries have a fiscal year fye of may 31. prepare the adjusting entries for the 2008 fye based on the
accumulated other comprehensive income $80,000; and retained earnings $90,000. It issued no stock during 2010. Prepare a statement of stockholders' equity.
Compute the balance in the Cash account at the end of March and What are the total assets of Fieldstone, Inc. at the end of March
at december 31 2011 an analysis of the accounts of cherry co. ltd. revealed the following informationfollowing
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