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Budgeting CommentsSelect one of the following quotes from the text to discuss. Clearly state whether you either agree or disagree with the comment and support your opinion with at least one scholarly resource. Include in your response an explanation of the major purposes of budgeting. Your initial post should be 200-250 words.
"One major criticism of budgeting is that it is used as a ‘cost reduction' tool rather than a ‘cost control' tool. The objective of the budget is to control costs at an efficient level of operation.""There are generally three benefits from allowing employees to participate in developing the budget: (1) Employees tend to accept the budget as their own plan of action. (2) Participation tends to increase morale among employees and toward management. (3) Employee cohesiveness is increased, and productivity will also increase if dictated by the group norm."
"Even though budgets are quantitative tools, considerable emotion is connected to budgeting. The individual in control often sees the budget as a means of getting things done. People being controlled often have feelings of anxiety because their success and promotion are tied directly to the budget." Standard Cost System
Using Chapter of your text as a reference, define a standard cost and explain what constitutes the components of a standard cost. Describe the advantages and disadvantages of a standard cost system and explain under what circumstances a standard cost system is most effective. Your initial post should be 200-250 words.
everett miguel and ramona are partners sharing income 123. after selling all of the assets for cash dividing losses on
Evaluate the advantages of separate transaction methods and the profit and loss methods over one another when translating foreign income. Create an argument for using one method over the other.
On November 10th, JumpStart Co. provides $2,900 in services to clients. At the time of service, the clients paid $600.00 in cash and put the balance on account.
a lawn care company started business on january 1 2012. the company billed clients 105000 for lawn care services
the standard price per pound is the price that benjis has paid for cheese for the last few months. benjis normally uses
A camera company produces and sells cameras, film, and other imaging products. A condensed 2000 income statement
during 2012 h had earnings from self-employment of 50000 and wages of 78000 from employer x. employer x withheld and
1.the objectives of financial reporting are met in large part by a set of financial statements. of the following which
the following costs were incurred in february 2010 by container corp. which produces customized steel storage
What are income statement accounts?
case 1. ballston company uses the fifo method of costing its merchandise inventory. the manager is considering a change
Effect of Order Quantity on Special Order Decision - Awtrey Quilting Company makes blankets that it markets through a variety of department stores. It makes the blankets in batches of 1,000 units. Awtrey made 20,000 blankets during the prior accoun..
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