im_ch10 - CHAPTER 10 Budgetary Control and Responsibility...

Info iconThis preview shows pages 1–6. Sign up to view the full content.

View Full Document Right Arrow Icon
CHAPTER 10 Budgetary Control and Responsibility Accounting ASSIGNMENT CLASSIFICATION TABLE Study Objectives Questions Brief Exercises Exercises A Problems B Problems 1. Describe the concept of budgetary control. 1, 2, 12 2. Evaluate the usefulness of static budget reports. 3, 4, 5, 6, 7, 8 1, 2 6 3A 3B 3. Explain the development of flexible budgets and the usefulness of flexible budget reports. 6, 7, 8, 9, 10, 11, 12 3, 4, 5 1, 2, 3, 4, 5, 6, 7, 8 1A, 2A, 3A 1B, 2B, 3B 4. Describe the concept of responsibility accounting. 13, 14, 15, 16, 17, 18, 24 9 6A 5. Indicate the features of re- sponsibility reports for cost centers. 19 6 5, 7 6. Identify the content of responsibility reports for profit centers. 20, 21 7 10 4A 4B 7. Explain the basis and for- mula used in evaluating performance in investment centers. 22, 23, 24 8, 9, 10 11, 12, 13 5A 5B *8. Explain the difference between ROI and residual income. 25, 26 11, 12 14, 15 7A 10-1
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
ASSIGNMENT CHARACTERISTICS TABLE Problem Number Description Difficulty Level Time Allotted (min.) 1A Prepare flexible budget and budget report for manufac- turing overhead. Simple 20 - 30 2A Prepare flexible budget, budget report, and graph for man- ufacturing overhead. Moderate 30 - 40 3A State total budgeted cost formula, and prepare flexible budget reports for two time periods. Simple 20 - 30 4A Prepare responsibility report for a profit center. Moderate 20 - 30 5A Prepare responsibility report for an investment center and compute ROI. Moderate 40 - 50 6A Prepare reports for cost centers under responsibility accounting, and comment on performance of managers. Moderate 40 - 50 7A Compare ROI and residual income Moderate 20 - 30 1B Prepare flexible budget and budget report for manufac- turing overhead. Simple 20 - 30 2B Prepare flexible budget, budget report, and graph for man- ufacturing overhead. Moderate 30 - 40 3B State total budgeted cost formula, and prepare flexible budget reports for two time periods. Simple 20 - 30 4B Prepare responsibility report for a profit center. Moderate 20 - 30 5B Prepare responsibility report for an investment center and compute ROI. Moderate 40 - 50 10-2
Background image of page 2
BLOOM’S TAXONOMY TABLE 10-3
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
STUDY OBJECTIVES 1. DESCRIBE THE CONCEPT OF BUDGETARY CONTROL. 2. EVALUATE THE USEFULNESS OF STATIC BUDGET REPORTS. 3. EXPLAIN THE DEVELOPMENT OF FLEXIBLE BUDGETS AND THE USEFULNESS OF FLEXIBLE BUDGET REPORTS. 4. DESCRIBE THE CONCEPT OF RESPONSIBILITY ACCOUNTING. 5. INDICATE THE FEATURES OF RESPONSIBILITY REPORTS FOR COST CENTERS. 6. IDENTIFY THE CONTENT OF RESPONSIBILITY REPORTS FOR PROFIT CENTERS. 7. EXPLAIN THE BASIS AND FORMULA USED IN EVALUATING PERFORMANCE IN INVESTMENT CENTERS. *8. EXPLAIN THE DIFFERENCE BETWEEN ROI AND RESIDUAL INCOME. 10-4
Background image of page 4
CHAPTER REVIEW Budgetary Control 1. (S.O. 1) The use of budgets in controlling operations is known as budgetary control. Such con- trol takes place by means of budget reports that compare actual results with planned objectives.
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 6
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 05/08/2008 for the course ACC 210 taught by Professor John during the Spring '08 term at South Central College: Faribault Campus.

Page1 / 25

im_ch10 - CHAPTER 10 Budgetary Control and Responsibility...

This preview shows document pages 1 - 6. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online