财务管理-预算

WorkofManagementPlanningControllingDirectingandMotivatingPlanningandControlPlanning--involvesdevelopingobjectivesandpreparingvariousbudgetstoachievetheseobjectives.Control--involvesthestepstakenbymanagementthatattempttoensuretheobjectivesareattained.A.Ituncoverspotentialbottlenecksbeforetheyoccur.B.Itcoordinatestheactivitiesoftheentireorganizationbyintegratingtheplansandobjectivesofthevariousparts.C.Itensuresthataccountingrecordscomplywithgenerallyacceptedaccountingprinciples.D.Itprovidesbenchmarksforevaluatingsubsequentperformance.Whichofthefollowingisnotabenefitofbudgeting?AdvantagesofBudgetingAdvantagesCommunicatingplansThinkaboutandplanforthefutureMeansofallocatingresourcesUncoverpotentialbottlenecksCoordinateactivitiesDefinegoalandobjectivesResponsibilityAccountingManagersshouldbeheldresponsibleforthoseitems—andonlythoseitems—thatthemanagercanactuallycontroltoasignificantextent.FairmontInc.usesanaccountingsystemthatchargescoststothemanagerwhohasbeendelegatedtheauthoritytomakedecisionsconcerningthecosts.Forexample,ifthesalesmanageracceptsarushorderthatwillresultinhigherthannormalmanufacturingcosts,theseadditionalcostsarechargedtothesalesmanagerbecausetheauthoritytoacceptordeclinetherushorderwasgiventothesalesmanager.Thistypeofaccountingsystemisknownas:A)responsibilityaccounting.B)contributionaccounting.C)absorptionaccounting.D)operationalbudgeting.ChoosingtheBudgetPeriodOperatingBudget1999200020012002Theannualoperatingbudgetmaybedividedintoquarterlyormonthlybudgets.ChoosingtheBudgetPeriod1999200020012002ContinuousorPerpetualBudgetThisbudgetisusuallyatwelve-monthbudgetthatrollsforwardonemonthasthecurrentmonthiscompleted.ParticipativeBudgetSystemFlowofBudgetDataSupervisorSupervisorMiddleManagementSupervisorSupervisorMiddleManagementTopManagementTheBudgetCommitteeAstandingcommitteeresponsibleforoverallpolicymattersrelatingtothebudgetcoordinatingthepreparationofthebudgetAmethodofbudgetinginwhichthecostofeachprogrammustbejustifiedeveryyeariscalled:A)operationalbudgeting.B)zero-basedbudgeting.C)continuousbudgeting.D)responsibilityaccounting.Zero-BaseBudgetingManagersarerequiredtojustifyallbudgetedexpenditures,notjustchangesinthebudgetfromthepreviousyear.Thebaselineiszeroratherthanlastyear’sbudget.ParleeCompany'ssalesare30%incashand70%oncredit.Sixtypercentofthecreditsalesarecollectedinthemonthofsale,25%inthemonthfollowingsale,and12%inthesecondmonthfollowingsale.Theremainderareuncollectible.Thefollowingarebudgetedsalesdata:Totalsales:January$60,000February$70,000March$50,000April$30,000TotalcashreceiptsinAprilwouldbebudgetedtobe:A)$38,900.B)$47,900.C)$27,230.D)$36,230.ModestoCompanyproducesandsellsProductAlphaB.Toguardagainststockouts,thecompanyrequiresthat20%ofthenextmonth'ssalesbeonhandattheendofeachmonth.BudgetedsalesofProductAlphaBoverthenextfourmonthsare:BudgetedsalesinunitsJuneJulyAugustSeptember30,00040,00060,00050,000BudgetedproductionforAugustwouldbe:A)62,000units.B)70,000units.C)58,000units.D)50,000units.FridenCompanyhasbudgetedsalesandproductionoverthenextquarterasfollows:AprilMayJuneSalesinunits100,000120,000?Productioninunits104,000128,000156,000Thecompanyhas20,000unitsofproductonhandatApril1.Aminimumof20%ofthenextmonth'ssalesneedsinunitsmustbeonhandattheendofeachmonth.Julysalesareexpectedtobe140,000units.BudgetedsalesforJunewouldbe(inunits):A)188,000.B)160,000.C)128,000.D)184,000MarpleCompany'sbudgetedproductioninunitsandbudgetedrawmaterialspurchasesoverthenextthreemonthsaregivenbelow:JanuaryFebruaryMarchBudgetedproduction(inunits)60,000?100,000Budgetedrawmaterialspurchases(inkilograms)129,000165,000188,000Twokilogramsofrawmaterialsarerequiredtoproduceoneunitofproduct.Thecompanywantsrawmaterialsonhandattheendofeachmonthequalto30%ofthefollowingmonth'sproductionneeds.Thecompanyisexpectedtohave36,000kilogramsofrawmaterialsonhandonJanuary1.BudgetedproductionforFebruaryshouldbe:A)105,000units.B)82,500units.C)150,000units.D)75,000units.Budgetscanbedefinedas:“aquantitativemodel,orsummaryoftheexpectedconsequencesoftheorganization’sshort-termoperatingactivities.”ManagementAccountingAtkinson,Banker,Kaplan&YoungWhatisthisdefinitionimplying?Thedefinitionsuggests:Availabilityofquantitativedata,Predictabilityofshort-termoutcomes,Clear-cutorganizationalstructures.Thereisonemajorlogicalproblem,whichis?Iftheabovearetrue,whatdoyouneedthebudgetfor?ThebudgetaryprocessisratheraprocessToquantify“qualitative”judgment,Toforecasttheimpactsofsomeuncertainevents,Tosimplifythecomplexorganizationalstructures.AsZimmermanindicated(p.244),thebudgetprocessisacommunicationdeviceinvolvingbothverticalandhorizontalinformationtransferisanegotiationandinternalcontractingprocedureispartoftheperformanceevaluationsystempartitiondecisionrightsBudgetstoSolve“Agency”ProblemsShort-termbudgetsasinternalcontracts.ToformallycommitresponsibilitycentersAsawarningforfuturemonitoringactionsLong-termbudgetstoreduceinformationasymmetry.Tosolicitprivate,specializedinformationfromlocalmanagersForcemanagerstothinkstrategically,rathert