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Chapter 6-Study Information

Chapter 6-Study Information - 4 You should know the order...

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Accounting 230 Chapter 6 Study Information Horngren 13 th Ed. 1. You should be able to define the following terms: budget, master budget, operating budgets, financial budgets, continuous (rolling budgets), kaizen budgeting, activity- based budgeting, responsibility accounting, controllable costs, and budgetary slack. 2. You should be able to list and discuss several of the advantages of budgets. 3. You should be able to discuss the time coverage of budgets.
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Unformatted text preview: 4. You should know the order in which operating budgets are prepared. 5. You should be able to prepare, in good form , a sales budget, production budget, materials purchases budget in units and dollars, and a cash budget. 6. You should be able to describe what the managers of the following responsibility centers are responsible for: cost center, revenue center, profit center, and investment center....
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