As the senior accountant at Technology on Demand (TOD), which manufactures mobile technology such as flip phones, smartphones, notebooks, and smartwatches, you are an active employee in the budgeting process. For years now, employees have not been in favor of budgeting. In fact, department managers have often expressed their degree of stress and feeling uncomfortable about the budget process and performance evaluations. This year, Michelle Dodd, the controller, wants to try a different approach to promote employee support of the budget and, in turn, the organizational goals. With more employee feedback, the upper management can develop a more inclusive, advanced budgeting tool.
The controller asks you to develop a memo to be sent to department managers with a courtesy copy (cc) to the controller. The memo will introduce the new budget approach and the advantages of budgeting. The new budget approach is a participative budgeting process as opposed to less input on the part of employees. The desire is for department managers to obtain feedback from their team in order to submit a more collective budgeting tool for consideration from their area of responsibility.
In consideration of the background, prepare a memo in a Word document to submit to the department managers with a cc to the controller.
To, All Department Managers
Cc, The Controller
From, The Senior Accountant
Date, september 11th, 2020
Subject, Workshop on participative budgeting
Technology on demand (TOD) accounting team would like to invite all of you to a budget workshop which will be held on 21 September. The workshop will be held for a duration of two hours in the main conference room. The workshop will start sharply at 2:00 pm and end at 4:00 pm.
Participative budgeting will be the focus of the workshop. In simple words, participative budgeting refers to the process of budgeting in which people impacted by the budget will be actively involved in the budget creation process.In other words, the budgetary process would also include our workers who are at the lower management stage.
Since budgeting is an important tool for our organisation, we are transforming the budgeting process into a new wayof making it better and more aligned with our primary stakeholders, i.e. our workers, . Budgeting is important to us as it helps us in the planning and policy formulation. This ensures the coordination of our plan and strategy. Secondly, it means that for a planned period we have a tool to manage our incomes and expenditures.Thirdly, it allows us numerically to define the TOD objective. Fourthly budgeting helps us to direct our capital and income resources in a profitable manner and in a way that ensures that our priorities and objectives are optimally achieved.
I would invite you all to participate in the workshop and to present your ideas and opinions. Please compile a list of questions and suspicions your team has and answer to all your queries will be provided during the workshop. I wantall of you to take part in the workshop and make a strong contribution so that we can ensure that the budgeting process of our business is well-defined and optimal and our budget as a brilliant planning tool.
As the senior accountant at Technology on Demand (TOD), which manufactures mobile technology such as flip...
Detailed Instructions: In a business setting, we are often asked to write a memo to communicate with internal and external professionals. This assignment further advances your communications within an organization through the use of a memo. Background: As the senior accountant at Jackson Quality Sportswear (JQS), which manufactures sport attire for men, women, youth, and children, you are an active employee in the budgeting process. For years now, employees have not been in favor of budgeting. In fact, department managers...
Detailed Instructions: In a business setting, we are often asked to write a memo to communicate with internal and external professionals. This assignment further advances your communications within an organization through the use of a memo. Background: As the senior accountant at Jackson Quality Sportswear (JQS), which manufactures sport attire for men, women, youth, and children, you are an active employee in the budgeting process. For years now, employees have not been in favor of budgeting. In fact, department managers...
General Instructions: For this case, you will be responsible for preparing a memo in a Word document to address the situation. Memo formats are available in Word under File, New, Search on Professional Memos or Memos for options. You can select a format or create your own memo in Word. If you create your own, be sure to follow general memo format rules such as Link (Links to an external site.) (Links to an external site.)Furthermore, the link contains helpful information...
Background: As the senior accountant at Technology on Demand (TOD), which manufactures flip phones, smartphones, notebooks, and smartwatches, you are responsible for assisting with employee related questions. TOD manufactures mobile technology such as flip phones, smartphones, notebooks, and smartwatches in bulk quantity on the same type of product with no variations. However, Michael Clark, sales department manager, is considering taking special orders in an effort to further advance sales. If this is possible, he would like to begin with the...
As the senior accountant at Jackson Quality Sportswear (JQS), which manufactures sports attire for men, women, youth, and children, your role with the budget process continues. You are very pleased with how well the budget workshop held on February 21st went. Department managers came, were engaged, and asked a number of important questions. Jacob Reynolds advised department managers that you would follow up in a memo to address a few of the department managers’ questions. Department managers asked: What is...
General Instructions: For this case, you will be responsible for preparing a memo in a Word document to address the situation. Memo formats are available in Word under File, New, Search on Professional Memos or Memos for options. You can select a format or create your own memo in Word. If you create your own, be sure to follow general memo format rules such as Link (Links to an external site.) (Links to an external site.)Furthermore, the link contains helpful information...
Detailed Instructions: In a business setting, we are often asked to write a memo to communicate with internal and external professionals. This assignment further advances your communications within an organization through the use of a memo. Background: As the senior accountant at Technology on Demand (TOD), which manufactures flip phones, smartphones, notebooks, and smartwatches, you are responsible for assisting with employee related questions. TOD manufactures mobile technology such as flip phones, smartphones, notebooks, and smartwatches in bulk quantity on the...
Question 2: Budget (20 marks in total) Kuipers Manufacturing is a medium sized company that manufactures and markets a range of products. The divisions of Kuipers Manufacturing include whitegoods, kitchenware and outdoor furniture. The senior management team oversees the budgeting process. This includes the managing director, the financial controller, the manufacturing director and the marketing director. Jack Kohler the managing direct of Kuipers Manufacturing, recognises the importance of the budgetary process for planning, control and motivation. He believes that a...
A minimum of a paragraph (200 words) per response is expected for each question. 1. As the operations manager of a large company, analyze what the operations manager does and discuss how the operations side of the business operates. Describe how team dynamics impact performance. Provide specific examples of what operations managers do. 2. Use outside research to identify two current challenges faced in operations management and the strategies companies use to address those challenges. Suggest a third future challenge...
Detailed Instructions: In a business setting, we are often asked to write a memo to communicate with internal and external professionals. This assignment further advances your communications within an organization through the use of a memo. Background: As the senior accountant at Jackson Quality Sportswear (JQS), which manufactures sport attire for men, women, youth, and children, you are responsible for assisting with employee related questions. JQS manufactures sport attire for men, women, youth, and children in bulk quantity on the...