Question regarding the financial reporting system

Assignment Help Operation Management

Reference no: EM13805447

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.

Reference no: EM13805447

Questions Cloud

Paper about information technology in online shopping : Write term paper about Information Technology in Online Shopping

Variance analysis case study based problems : Which inpatient service lines are overbudget? Which product lines are overbudget after accounting for workload increases?

Communication strategy : As the owner of your fictitious company, please develop a new model for an effective communication strategy as you are not happy with the one that is currently in place.

Organization plays a role in controlling work activities : "Every individual employee in an organization plays a role in controlling work activities." Do you agree with this statement, or do you think control is something that only managers are response for? Explain.

Question regarding the financial reporting system : 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.

Correlation and regression analyses related numericals : Compute a correlation matrix that includes all continuous variables. Identify all individual correlations that are significant at the 95 percent level.

Develop a leadership approach for team : To be successful in the new market segment, your team must efficiently accomplish the goals set by the company. Your manager, therefore, would like you to develop a leadership approach for each team member on your team based on the theories of lea..

What happens to the length of the earths day : What happens to the length of the Earths day - Which one has the greatest total kinetic energy.

Statistically significant correlation based numericals : Calculate the percentage of variance explained for r = 0.53. Is this correlation clinically important?

User Account

All Pages