explain how the planning and budgeting process works (or should work) in a company of which...
explain how the planning and budgeting process works (or should work) in a company of which you are familiar. This can be an organization that you used to work at, presently work at, or researched.
Homework Answers
A budgeting and planning process for a Aerospace firm is like as
follow
First and formost thing to work on Revenue planning for the year doing comparative analysis of last year latest forecast in details discussion on product pricing and market share and growth year over year by country by line of business.
Then the detailes analysis on cost by every function and line item of income statment with functional owner and directors then we planned the working capital and balance sheet analysis while closly working with every leader like accounts payable team inventory at plant and accounts receivable team and capital market spend.
Add Answer to:
explain how the planning and budgeting process works (or should
work) in a company of which...
explain how the planning and budgeting process works (or should work) in the restaurant industry
explain how the planning and budgeting process works (or should work) in the restaurant industry
Planning and Control- Budgeting Management and cost accounting requires the accumulation of costs for a number...
Planning and Control- Budgeting Management and cost accounting requires the accumulation of costs for a number of different purposes, i.e. stock valuation and profit measurement, decision making and planning and control. The budgeting process has been traditionally used to plan an organisations’ activities into the future. A budget can be described as an approved financial plan, reflecting expectations for a defined, future period of time. Budgets also serve an as important framework for performance evaluation and control by holding individuals...
Which of the following is NOT an objective of the budgeting process? Multiple Choice O To...
Which of the following is NOT an objective of the budgeting process? Multiple Choice O To uncover potential bottlenecks before they occur. O To ensure that the company continues to grow. O C) To provide a means of allocating resources to those parts of the organization where they can be used most effectively O To communicate management's plans throughout the entire organization.
Explain the purpose of using budgeting as a planning tool. Cite 2 examples of how management...
Explain the purpose of using budgeting as a planning tool. Cite 2 examples of how management can use budgeting when it comes to decision making.
Briefly explain briefly the alternative form of payment that you researched and how it works as...
Briefly explain briefly the alternative form of payment that you researched and how it works as an alternative to traditional cash. What are the advantages of this form of payment? Are there disadvantages or risks associated with the form of payment that you researched? As a consumer yourself, do you use any forms of cash alternatives? Which ones? Do you have concerns about the security of this payment method, and if so, what can you do to mitigate these?
Cosmic Corporation Is a new company that has not yet developed a formal planning and budgeting...
Cosmic Corporation Is a new company that has not yet developed a formal planning and budgeting process. They have asked for your advise on how they should proceed. Specifically, they would like to know in which order the elements of the system should be done. Required: Identify In which order the elements of the system should be done. Answer is complete but not entirely correct. Step Planning and Budgeting Element Evaluate actual results with the budget Step 1: Step 2:...
As you read, budgeting is an important planning and control tool. Tell me and the class...
As you read, budgeting is an important planning and control tool. Tell me and the class about your experiences with budgeting in a business environment. Do you or have been part of the budgeting process? Within the master budget of the organization, what was your role and responsibilities? What did you find the biggest challenge with budgeting? If you have not been part of the budgeting process before, what you believe would be the biggest challenge? please can make it...
Strategic planning is nothing but the process by which the organization define its strategy and allocate...
Strategic planning is nothing but the process by which the organization define its strategy and allocate its resources appropriately to proceed with the strategy. Strategic control is the process of controlling the formation and execution of strategic plan. Strategic control system helps in handling uncertainty and ambiguity in the control process. Strategic planning is done based on the following:- The current status of the organization in terms of profits, success, reputation, etc. • The long term goals of the organization....
24. There are many roles played in the planning process for a typical company. Depending on...
24. There are many roles played in the planning process for a typical company. Depending on the organizational level, the planning focus and the effort devoted will be different. Which of the following statements is true about planning within an organization? a. In their role in the planning process, top management focuses on short-term operational objectives for the company. b. Only top management spends time focused on strategic and operational planning activities for the organization. c. Middle management employees spend...
What is the value of budgeting? Who should prepare the budget(s)? How does the budgeting process...
What is the value of budgeting? Who should prepare the budget(s)? How does the budgeting process begin – where do the numbers come from? How often should the budget be revised?
Which of the following is NOT an objective of the budgeting process? Multiple Choice O To uncover potential bottlenecks before they occur. O To ensure that the company continues to grow. O C) To provide a means of allocating resources to those parts of the organization where they can be used most effectively O To communicate management's plans throughout the entire organization.
Cosmic Corporation Is a new company that has not yet developed a formal planning and budgeting process. They have asked for your advise on how they should proceed. Specifically, they would like to know in which order the elements of the system should be done. Required: Identify In which order the elements of the system should be done. Answer is complete but not entirely correct. Step Planning and Budgeting Element Evaluate actual results with the budget Step 1: Step 2:...
24. There are many roles played in the planning process for a typical company. Depending on the organizational level, the planning focus and the effort devoted will be different. Which of the following statements is true about planning within an organization? a. In their role in the planning process, top management focuses on short-term operational objectives for the company. b. Only top management spends time focused on strategic and operational planning activities for the organization. c. Middle management employees spend...
Most questions answered within 3 hours.
-
How much must I invest today if I want to withdraw 1/3 of my
original investment...
asked 1 hour ago -
What is meant by a “term premium”?
What can explain such a premium? Is it a...
asked 3 hours ago -
23. Which molecule has only covalent bonds? A. CO2 B. Al2O3 C.
Mg3N2
24. The octet...
asked 3 hours ago -
the
total pressure for a mixture of N2O4 and NO2 is 2.20 atm. If Kp=
7.10...
asked 3 hours ago -
Delaware Corp. prepared a master budget that included $22,385
for direct materials, $28,600 for direct labor,...
asked 3 hours ago -
For pesticide HCB (hexachlorobenzene), its logarithmic partition
coefficient log Kow is 5.6. What would be the...
asked 3 hours ago -
A chemist requires 0.422 mil Na2CO3 for a reaction. How many
grams does this correspond to?
asked 3 hours ago -
If the vapor pressure of carvone is approximately 9.4 torr at 99
°C, approximately how much...
asked 4 hours ago -
A juice bottling company is carrying out a test at 10%
significance that the mean population...
asked 4 hours ago -
What is the reflectivity (in percent) needed to keep water at a
temperature near its freezing...
asked 4 hours ago -
Suppose that the average surface temperature of Earth is 300K.
Assume this is uniform over its...
asked 4 hours ago -
Draw the condensed structural formula for alkenes and alkynes or
the line-angle structural formula for cycloalkenes...
asked 4 hours ago