Budgeting and Decision Making

SkousenBudgeting and Decision Making Download free books at... Download free eBooks at bookboon.com2 Budgeting and Decision Making © 2009 Larry M.. Budgeting: Planning for Success 1..

Larry M Walther; Christopher J Skousen

Budgeting and Decision Making

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Budgeting and Decision Making

© 2009 Larry M Walther, under nonexclusive license to Christopher J Skousen & Ventus Publishing ApS All material in this publication is copyrighted, and the exclusive property of Larry M Walther or his licensors (all rights reserved)

ISBN 978-87-7681-492-2

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Budgeting and Decision Making

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Contents

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Contents

Part 1 Budgeting: Planning for Success

1 Importance of Budgets

1.1 Forms and Functions

1.2 Avoiding Business Chaos

1.3 An Electrifying Case in Budgeting

1.4 Recapping Beneits of Budgeting

2 Budget Processes and Human Behavior

2.1 Budget Construction

2.2 Mandated Budgets

2.3 Participative Budgets

2.4 Blended Approach

2.5 Organizational Structure Considerations

2.6 Flattening the Organization Chart

2.7 Budget Estimation

2.8 Slack and Padding

2.9 Zero-Based Budgeting

2.10 The Impossible Budget and Employee Capitulation

2.11 Ethical Challenges in Budgeting

3 Components of the Budget

3.1 Sales Budget

3.2 Production Budget

3.3 Direct Material Purchases Budget

3.4 Direct Labor Budget

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Budgeting and Decision Making

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Contents

3.5 Factory Overhead Budget

3.6 Selling and Administrative Expense Budget

3.7 Cash Budget

3.8 Budgeted Income Statement and Balance Sheet

3.9 External Use Documents

3.10 Performance Appraisal

4 Budget Periods and Adjustments

4.1 Continuous Budgets

4.2 Flexible Budgets

4.3 Encumbrances

Part 2 Tools for Enterprise Performance Evaluation

5 Responsibility Accounting and Management by Exception

5.1 Centralized Versus Decentralized Decision-Making

5.2 Responsibility Centers

5.3 Cost Center

5.4 Proit Center

5.5 Investment Center

5.6 Afixing Responsibility

5.7 Responsibility Center Reports

5.8 The Power of a Data Base System

5.9 Traceable Versus Common Fixed Costs

5.10 Management by Expansion

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