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Question 1: Summarise the ADVANTAGES and DISADVANTAGES of 'participatory budgeting' (Students should refer to and carefully consider the arguments both for and against these different approaches AND how to overcome some of the budget difficulties that may arise in budget setting using either approach.)
Question 2: Outline the FOUR purposes of performance measurement systems. Explain how these purposes relate to RESPONSIBILITY ACCOUNTING.
Question 3: Outline the characteristics of an effective performance management system.
Question 4: Why is GOAL CONGRUENCE important to an organisation's success? How can a RESPONSIBILITY ACCOUNTING SYSTEM foster GOAL CONGRUENCE?
Question 5: What is BUDGETARY SLACK and what does PADDING THE BUDGET mean? What motivations could managers have to behave this way and comment on whether you believe such behaviour is DYSFUNCTIONAL or to be expected?
Explain the budgeting process and its importance to a business, identifying the components of different budgets, forecast estimates for inclusion in the budgets.
Prepare a retained earnings statement for the year and Prepare a stockholders' equity section of given case.
Prepare a master budget for the three-month period.
Construct the company's direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced.
Evaluate the Predetermined Overhead Rate
Determine the company's bid if activity-based costing is used and the bid is based upon full manufacturing cost plus 30 percent.
Complete the schedule to compute the pool rates for the different activities.
Prepare Company financial statements
This individual assignment is based on the TerraCycle Inc.
Discuss the ethical issues
Calculate the GDP in Income Approach and Expenditure Approach
A new plant accountant suggested that the company may be able to assign support costs to products more accurately by using an activity based costing system that relies on a separate rate for each manufacturing activity that causes support costs.
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