What types of budgets do you think would be effective for the Coca-Cola Company?
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With so many budgets types available to companies, what types of budgets do you think would be effective for the Coca-Cola Company? Why?
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Coca Cola is one of the leading multinational companies and for them budgeting is an important tool for strategic implementation.
I will suggest the use of Master Budget for a huge company like Coca Cola. Master Budget consists 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 administrative budget. Production drives the need for materials and labor. Factory overhead may be applied based on labor, but it is ultimately driven by overall production.
Components of Master Budget
SALES BUDGET:
Master budget begins with a sales budget. The sales budget reflects forecasted sales volume and is influenced by previous sales patterns, current and expected economic conditions, activities of ...
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