2_FM_f - Chapter Two Lecture Notes Planning for Success:...

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11 Chapter Two Lecture Notes Planning for Success: Budgeting
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22 Overview of Financial Management Plan Implement Control Measure Results and Report
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33 Planning Establish the organization's mission . What is an example of an organizational mission? Develop a strategic plan to meet that mission. The strategic plan is a broad set of organizational goals and the primary approaches for reaching them. Set long-range plans for achieving the goals defined in the strategic plan. Prepare budgets that show how management expects to obtain and use the resources needed to meet those goals.
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44 The Budget Process Why do organizations use budgets? The Budget Cycle - Preparation based on guidelines normally done by responsibility center managers - Review and Adoption - Implementation and Control Evaluation of Results and Feedback The political and behavioral realities of budgeting
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55 Types of Budgets Master Budget Operating Budget revenues and other support expenses Cash Budget Capital Budget Special types of budgets Special Purpose Budgets Performance Budgets Flexible and Zero-based Budgets
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66 The Operating Budget Revenue and Other Support
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2_FM_f - Chapter Two Lecture Notes Planning for Success:...

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