The Portable MBA in Finance and Accounting, 3rd Edition
168 Understanding the Numbers continuing education, publications, and IRS forms. The home page for the Financial Management Asso ...
Information Technology and You 169 and online shopping company Lands End now provides their customers with the opportunity to ha ...
170 Understanding the Numbers Internet Multimedia The Internet provides an amazing plethora of information, and not just in text ...
Information Technology and You 171 real. How these technologies will be used in the future, and the tremendous entrepreneurial p ...
172 Understanding the Numbers Computer Information Sites http://www.cnet.com A site that provides product reviews and prices on ...
173 6 FORECASTS AND BUDGETS Robert Halsey THE CONCEPT OF BUDGETING Budgets serve a critical role in managing any business, from ...
174 Understanding the Numbers FUNCTIONS OF BUDGETING The two basic functions of budgeting are planning and control. Planningen- ...
Forecasts and Budgets 175 Periodic Planning Virtually all organizations require some planning to ensure efficient and effec- tiv ...
176 Understanding the Numbers Performance Evaluation Budgets serve as estimates of acceptable performance. Managerial effective- ...
Forecasts and Budgets 177 Provide a minimum return on gross assets invested of 18%. Maintain a minimum current ratio of 2 to 1 ...
178 Understanding the Numbers to resolve difficult issues, but it results in a budgeting framework that is much more likely to b ...
Forecasts and Budgets 179 actual amount is called a budget variance. Budget variances are reported for both revenues and costs s ...
180 Understanding the Numbers better or worse than expected? Is the company’s marketing support adequate? Has the competitive la ...
Forecasts and Budgets 181 Many companies have intricate budget performance reporting systems in place, but the firms achieve lit ...
182 Understanding the Numbers degree of achievement of plans embodied in the budget. To minimize adverse behavioral problems, ma ...
Forecasts and Budgets 183 Exhibit 6.5 is a simplified budget for C&G’s Gift Shop. It is prepared on a monthly basis. The num ...
184 Understanding the Numbers EXHIBIT 6.5 C&G’s Gif t Shop: 2000 cash budget. Line Assumptions Nov-99 Dec-99 Jan Feb Mar 1 T ...
Forecasts and Budgets 185 Apr May Jun Jul Aug Sep Oct Nov Dec Jan 2630 2580 2600 2650 2780 2990 4370 5220 7200 4220 100 100 100 ...
186 Understanding the Numbers For a manufacturing company, cost of goods sold is computed similarly, but in place of purchases w ...
Forecasts and Budgets 187 vested in marketable securities earning an investment return of 6% per annum (0.5% per month). Finally ...
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