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Chapter 6 Week 1 Day 2 Spring 2010 Revised

Chapter 6 Week 1 Day 2 Spring 2010 Revised - Chapter 6 Week...

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Unformatted text preview: Chapter 6 Week 1 Day 2 (Mar. 3 rd ) Planning, the Balanced Scorecard and Budgeting 6-1 6-2 Learning Objectives • Describe the purposes, strategies, and approaches to budgeting. • Explain the process and prepare the resulting budgets and schedules for the: revenue process conversion process expenditure process 6-3 What are the Budgets that Result from Revenue Process Planning? • Sales budget Units Dollars • Cash receipts schedule When—collection patterns How much—sales discounts offered Uncollectible amounts (do not include) 6-4 Revenue Budgets Continued • Accounts receivable schedule Beginning balance Add sales Less cash received Less sales discounts Less uncollectible amounts Equals ending balance • Marketing and distribution budget Expected costs of activities 6-5 ABC Company’s Sales Budget ABC Company has budgeted its sales for the first three months of 2011 at 5,000, 6,000, and 4,500 units. It expects to sell its product for $12 per unit. Determine the sales budget for the first three months of 2011. 6-6...
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Chapter 6 Week 1 Day 2 Spring 2010 Revised - Chapter 6 Week...

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