Features and advantages of a master budget
Not what you're looking for?
List the features and advantages of a master budget. Also, distinguish between the components of master budget.
Purchase this Solution
Solution Summary
This discusses the features and advantages of a master budget
Solution Preview
List the features and advantages of a master budget. Also, distinguish between the components of master budget
Master Budget
Budgeting is one of the tools of the management control. Internal control programs are critical to any organization, because without it the results could be chaotic.
www.mhhe.com/business/accounting/garrison/Student/olc/garrison9emgracct_s/ch09s_kt.html
says:
Master Budget is a summary of a company's plans in which specific targets are set for sales, production, distribution, and financing activities and that generally culminates in a cash budget, budgeted income statement, and budgeted balance sheet.
Features of Budgeting
The "master" budget is an essential part of the coordinating effort. Such budgets consist of many individual building blocks that are tied together in logical harmony, and reflect the financial plan for the entire organization. Careful articulation is essential.
The starting point for the master budget is an assessment of anticipated sales via the sales budget. The expected sales level drives both the production plans and the selling, general, and ...
Purchase this Solution
Free BrainMass Quizzes
Balance Sheet
The Fundamental Classified Balance Sheet. What to know to make it easy.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Basics of corporate finance
These questions will test you on your knowledge of finance.
Marketing Research and Forecasting
The following quiz will assess your ability to identify steps in the marketing research process. Understanding this information will provide fundamental knowledge related to marketing research.
Introduction to Finance
This quiz test introductory finance topics.