amount of labor saved. There has also seemed to be a lack of budgets and performance reports in the decision-making process. The company could use these reports in many areas to keep the company making profit, as well as shift the company in the proper direction for the future. One thing that can be taken away from the current data is that the company produced over budget on its mid-grade products, while failing to meet the budget on the high-end products. If there was a proper understanding
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organization is thinking of implementing a New It Initiative they must ensure that they are well organized and fully understand the length and time a project may take. According to Cook “ Project failure occurs when a project is significantly over budget, takes must longer than estimated timeline, or has to be terminated because of so many problems have occurred that proceeding is no longer judged to be viable.” With Memorial Health System failed implementation of a CPOE system they had many problems
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Some managers are known for “never having missed a budget target.” Do you believe that is possible? Does such a record suggest that the managers are extremely effective managers; very lucky managers, or devious, manipulative managers? Are such managers to be congratulated (and, possibly or likely, promoted in their organizations) for their budget-achievement record? Almost every business and managers use pre-set performance targets as it stimulates employees, helps evaluate their performance
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| | |Assignment Cover Sheet | |Lecturer’s Comments Form | |SECTION A: TO BE COMPLETED
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performance. The advantages of budgeting described previously are limited, in some cases severely, by problems associated with budgets. In this section, three problems that complicate the implantation of budgets: 1. Low levels of participation in the budget process and lack of acceptance of responsibility for the final budget. 2. Incentives to lie and cheat in the budget process. 3. Difficulties in obtaining accurate sales forecasts. What external factors need to be considered? External
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Question 2 A budget is defined as a plan of operations based on a given estimate of expected income and expense in the future. As such, it is thought of as an action plan, outlining an organization's financial and operational goals. The budget expresses the quantitative arrangement of the entity's management, in terms of allocating the business resources, performance evaluation, and formulating prospective plans. Businesses alike hold this as an annual undertaking, putting into account the company's
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Nathan Butkovich ACTG 430 Homework October 17, 2013 Ex. 1-1 1. A. They have different missions. 2. C. Budgets 3. C. Provide service to constituents. 4. C. There may not be a direct relationship between revenue raised and demand for the entity’s services. 5. B. GASB 6. C. 89,000 7. D. Do not issue common stock. 8. C. Current-year revenues are sufficient to pay for current-year services. 9. B. Ensuring that budgeted revenues are equal to or exceed budgeted expenses. 10. C. Reporting
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have to prepare the flex budget. All you need to do is to comment on the limitations of the fixed budget presented in relation to the variance analysis) Part A (ii) - you need to comment on the limitations of the existing operating statements presented - No calculation required Part b - you might want to start with the briefly explanation on the differences between fixed and flexed budget - discuss the limitations of the fixed budget - discuss why flexed budget is useful - discuss the
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long term planning.". A budget is a financial plan and a list of all planned expenses and revenues. It is a plan for saving, borrowing and spending. It means budget is very particular plan for a company so that a company can actually know about the financial problem. In business, budgets help you determine how much money you have and how you will use it, and help you decide whether you have enough money to achieve your financial goals. As part of a business plan, a budget can help convince a loan
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Cost Accounting Review Questions Chapter1 1．在大学里谁是会计信息的使用者？不同的使用者需要信息的目的是什么？他们使用的方式和私人企业使用会计信息的方式有所不同嘛？ 使用者： 学生： 决定是否要去这所学校 其他学校： 如何竞争 雇员： 是否要继续在该学校任职 政府机关： 评估 当地机构： 决定是否允许该学校继续扩张活动 供应商： 是否继续供应 资金提供者： 是否继续提供资金 校董事会：评估学校运营的质量，是否需要改进 根本上学校和私营企业的对信息的使用是类似的。 2．管理会计被定义为管理的视觉和听觉。谈谈这句话的引申 大多数的公司运营对管理者来说都很庞大复杂从而没办法很直观的观测和估计运营的状况是否按照既定的计划进行。管理者需要各方面信息来帮助管理控制。管理会计的报告提供了这样的信息。这些报告使得公司的状况可以被看见和听见，所以叫管理者的耳目。 3．如果你是一个正要发布一个新服务的经理，什么养的财务信息是你所需要来帮助你做出决定的呢？ * 这项服务的成本以及利润率 * 所需要投入的资本
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