Reference no: EM13177526
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.
|
How might a company reduce its cash conversion cycle
: Why might a company want to reduce its cash conversion cycle - How might a company reduce its cash conversion cycle?
|
|
What would happen to america''s current account
: If American consumers decrease their spending on imports but leave their overall consumption spending constant, "hence buying more locally made goods", with all other factors constant what would happen to America's current Account and why ?
|
|
Is the doctor''s research an abuse of technology
: Should the doctor's activity be considered a violation of the law, a deviant act, or neither? If this activity is a violation of the law or should be, how may it be stopped, especially if the doctor goes overseas? Is the doctor's research an abuse of..
|
|
Determine the decision variables
: A and 20 milligrams of vitamin B while minimizing cost. An ounce of oats contributes 8.5 milligrams of vitamin A and 1.2 milligram of vitamin B, whereas an ounce of rice contributes 6.4 milligrams of A and 2.2 milligrams of B. An ounce of oats cos..
|
|
How management should use an activity based budget
: 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 and explain the similarities and differences of the two budgets
|
|
What is germany''s current account balance
: Germany consumers have $50 in income "their gross domestice product". They spend $35 on consumer goods "$25 on Germany goods and $10 on imports", they save $8, and pay $7 in taxes. The government collects $7 in taxes and spends $10 on locally-made..
|
|
Compute the net increase or decrease in net income
: Compute the net increase or decrease in net income for the month from the recognition of the adjustments
|
|
What is the purpose of government
: What is the purpose of government? Why do we need government? Should the government have any concern for the moral character of the citizens? If not, then what should the government be concerned with?
|
|
Why does the price of land go up
: Steel is labor intensive and rice is land intensive. According to the long run Heckscher-Ohlin model what happens when these two countries move frome no trade to free trade? Wages in France's rice industry? Wages in France's steel industry? The pr..
|