Describe the planning phase of budgeting

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Reference no: EM133198890

Assignment:

Part 1

Prepare and submit the following: When explanations are required - please be brief. One-two sentences at most.

• Under the heading Questions:

o Describe the planning phase of budgeting.

o Why is the sales budget the most important component of the master budget?

• Under the heading Brief Exercises: Budget Sequence.

o HINT: Simply list the order of the budgets by number and budget name in the budgeting process.

• Under the heading Exercise Set A: Budgets for Cash Collections from Sales and Cash Payments for Purchases.

o HINT: Prepare Part A only. Use the suggested format in the text (i.e. Cash Budget sample in Figure for "Cash Budget for Jerry's Ice Cream").

Part 2

Prepare and submit the following: When explanations are required - please be brief. One-two sentences at most.

• Under the heading Questions: HINT: Only respond to the questions here.

o 1: What is trend analysis?

o 2: How is common-size analysis information used?

• Under the heading Brief Exercises:

o Current & Quick Ratios;

o Profitability Ratios only 1, & 2

Reference no: EM133198890

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