Week 8 Assignment

Week 8 Assignment - MichaelElias WeekEightAssignment E231...

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Michael Elias Week Eight Assignment E23-1 Dear Jack Bruno; Budgeting is a formal written summary of management’s plans for a specified future time period, expressed in financial terms. Black Rose must identify a master budget that wills benefits management in aiding them when making financial decisions. A master budget usually contains two classes of main budgets, which are operation and financial budgets. The primary benefits of budgeting are to plan ahead and establish goals on a recurring basis. Provide definite objective for evaluating performance. And create early warning signs that are detectable if any potential problems arise. Part of the essentials of effective budgeting depends on a sound organizational structure that is responsible for all phases of the operations. Establish realistic goals based on current information provided to management. Mr. Bruno, creating a budget will aid management and not substitute them. In the long run, Black Rose Company will benefits widely from budgeting. Sources: Accounting Principles (Weygadt, 2008) E23-9 EDINGTON COMPANY Selling and Administrative Expense Budget For the Six Months Ending June 30, 2010
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Week 8 Assignment - MichaelElias WeekEightAssignment E231...

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