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McGrew_MBA 733 Case 6-1

McGrew_MBA 733 Case 6-1 - Trish McGrew MBA 733 Prof Bowsher...

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Trish McGrew, MBA 733 Prof. Bowsher, Assignment 3-2, January 20, 2011 Case 6-1 The Browning Manufacturing Company’s management team uses a projected budget in order to compare actual financial results to expected financial results. According to the management team, each department is dependent upon each other to provide estimates of future revenues and expenses. The departments consist of finance, sales, manufacturing and purchasing. The estimates are used to devise a projected profitable plan for the upcoming year. After each department supplied their estimates at the Browning Manufacturing Company, the accounting team would create a projected income statement, balance sheet, retained earnings statement, and a statement of cost of goods sold (Anthony, Hawkins, Merchant, 2011). Usually the company focuses on profitable operations but this time the management team wants to focus on the amount of cash at the end of the year and accomplish paying $350,000 of their notes payable. Once all cash outflow transactions are processed, management expects $150,000 of cash available in the ending cash account (Anthony, Hawkins, Merchant, 2011).
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