Last updated 4/2021
MP4 | Video: h264, 1280x720 | Audio: AAC, 44.1 KHz
Language: English | Size: 510.14 MB | Duration: 1h 12m
Know the accountant's Jargon. Know how to prepare the sales budget; production budget the purchasing budget
What you'll learn
Know how to Describe the role of budgeting in the planning, control, and resource allocation process and develop different types of budgets using spreadsheets
Know how to Apply the concepts of management accounting to the various activities in the organization by analyzing different types of costs and use them in decision making situations
Develop a Master Budget
Develop a Cash Budget
Know how management uses budget control report to evaluate managers
Apply the concept of responsibility accounting in managerial performance evaluation
Knowhow the balanced Scorecard is used
Requirements
Students need to know financial accounting and how to use basic Excel
Students should have a basic knowledge on introductory financial accounting.
Description
What is a Master Budget?The master budget is the aggregation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements, a cash forecast, and a financing plan. The master budget is typically presented in either a monthly or quarterly format, and usually covers a company's entire fiscal year. An explanatory text may be included with the master budget, which explains the company's strategic direction, how the master budget will assist in accomplishing specific goals, and the management actions needed to achieve the budget. There may also be a discussion of the headcount changes that are required to achieve the budget.A master budget is the central planning tool that a management team uses to direct the activities of a corporation, as well as to judge the performance of its various...
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