tailieunhanh - Lecture Managerial accounting (6th edition): Chapter 10 - Jiambalvo

Chapter 10 - Budgetary planning and control. This chapter presents the following content: Budgetary planning and control, use of budgets in planning and control, use of budgets in control, developing the budget, budget time period,. | 1 Slide 10-2 CHAPTER 10 Budgetary Planning and Control 2 Learning objective 1: Discuss the use of budgets in planning and control. Slide 10-3 Budgetary Planning and Control Budgets are the formal documents that quantify a company’s plans for achieving its goals For many companies, the entire planning and control process is built around budgets. 3 Slide 10-4 Use of Budgets in Planning and Control Planning Budgets enhance communication and coordination The process of developing a formal plan forces managers to consider their goals and objectives and to specify means of achieving them Budgets become the vehicle for communicating information about where the company is heading Learning objective 1: Discuss the use of budgets in planning and control. 4 Slide 10-5 Use of Budgets in Planning and Control Control Budgets provide a basis for evaluating performance Control makes sure the company is heading in the proper direction and operating efficiently To control a company, it is essential to | 1 Slide 10-2 CHAPTER 10 Budgetary Planning and Control 2 Learning objective 1: Discuss the use of budgets in planning and control. Slide 10-3 Budgetary Planning and Control Budgets are the formal documents that quantify a company’s plans for achieving its goals For many companies, the entire planning and control process is built around budgets. 3 Slide 10-4 Use of Budgets in Planning and Control Planning Budgets enhance communication and coordination The process of developing a formal plan forces managers to consider their goals and objectives and to specify means of achieving them Budgets become the vehicle for communicating information about where the company is heading Learning objective 1: Discuss the use of budgets in planning and control. 4 Slide 10-5 Use of Budgets in Planning and Control Control Budgets provide a basis for evaluating performance Control makes sure the company is heading in the proper direction and operating efficiently To control a company, it is essential to assess the performance of managers and their operations for which they are responsible Learning objective 1: Discuss the use of budgets in planning and control. 5 Slide 10-6 Use of Budgets in Control Often performance evaluation is carried out by comparing actual with planned or budgeted performance Significant deviations from planned performance associated with three potential causes: 1. The budget was poorly conceived 2. Conditions have changed 3. Managers have done a particularly good or poor job managing operations Learning objective 1: Discuss the use of budgets in planning and control. 6 Slide 10-7 Which of the following statements regarding budgets is false? They are formal documents that quantify a company’s plans. They enhance communication and coordination. They are useful in planning but not in control. They provide a basis for evaluating performance. Answer: c They are useful in planning AND in control Test Your Knowledge 1 Learning objective 1: Discuss the use of budgets .

• Kế toán - Kiểm toán
• Managerial accounting
• Lecture Managerial accounting
• Budgetary planning
• Master budget
• Sales budget
• Production budget
• Managerial accounting for managers
• Profitability analysis
• Decision making
• Operations management majors
• Nonmanufacturing costs
• Classifications of costs
• Kế toán quản trị
• Managerial accounting information
• General cost classifi cations
• Product costs
• Process costing
• Standard costing systems
• Accounting information
• Managerial decision
• Process management
• Financial statement
• Cost concepts
• Managerial accounting basics
• Managerial cost
• Period costs
• Lecture Financial and managerial accounting
• Financial statements
• Managerial decisions
• Financial accounting
• Dynamic business environment
• Reporting manufacturing activities
• Accounting principles
• Fundamental accounting principles
• Lecture Fundamental accounting principles
• Relevant costing
• Accounting activities
• Business activities
• Income statement
• Accounting cycle
• Accounting for merchandising operations
• Merchandising operations
• Capital budgeting decisions
• Time value of money
• Income taxes
• After tax cost