You were recently hired as management director of the new i

Assignment Help Finance Basics

Reference no: EM13394681

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.

Reference no: EM13394681

Questions Cloud

Describe the symbols used for redirection operators discuss : 1. what are the symbols used for the redirection operators? explain input and output redirection.2. what is the

What is your ldquonumberrdquo what might cause your number : what is your ldquonumberrdquo see reading for techniques and tools? what might cause your number to be higher? what

Determine the annual inventory costs if the lower inventory : the burdell wheel and tire company assembles tires to wheel rims for use on cars during manufacture of vehicles by the

Imagine that someone has offered you 1000 to buy your : imagine that you own a small local clothing store along the jersey shore boardwalk and decide that you want to engage

You were recently hired as management director of the new i : you were recently hired as management director of the new i can business incorporated icbi. you have been asked to

To maximize profit must firm lower its price increase its : a monopolist has determined that marginal revenue is 2.00 and average cost is 1.75. it has also determined that the

Explain discrete and continuous random variable what is a : explain discrete and continuous random variable? what is a probability distribution for a discrete random variable?

The net cost of a level strategy which pays overtime and as : tiger toys is a retailer in omaha nebraska.nbsp business is seasonal for tiger toys. the following table shows labor

The purpose of loss leader pricing is to attract customers : 1.an entrepreneur is a person who invest but does not assume the risks to set up and operate a profitable

User Account

All Pages