BUDGETING %26 ACCOUNTING Thur 4-1-2010 LECTURE

BUDGETING %26 ACCOUNTING Thur 4-1-2010 LECTURE - BUDGETING...

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BUDGETING College Athletics Perspective
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SAMPLE OUR BUDGET Income (Projected) Actual Paycheck 1 $2,000 $1,500 Paycheck 2 $1,500 $1,700 Other (Invest) $500 $ 250 Total Income $4,000 $3,450 Expenses Mortgage/food $ 950 $ 1250 Fast Cars $ 600 $ 1000 Insurance $ 150 $ 150 Loans $ 125 $ 125 Other (unknown) $ 400 $ 800 Total Expense $ 2,685 $ 3,325 NET INCOME +$ 1,315 +$ 125
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Budget Sheet Object Code 3238 Item Scholarships Description Training Table Expenditure $ 200,708 Actual $199,798
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Correct Responses Budget type Advantage Disadvantage LINE-ITEM Simple Less Time To Administer Does not reflect which program(s) is using most of the funds INCREMENTAL Easiest Does not reward meritorious programs FORMULA Ties increases to production Does not take equity into account PLANNING- PROGRAMMING BUDGETING SYSTEM (PPBS) Focuses on efficiency Complex, time consuming, expensive ZERO BASED You have to justify the budget Each year go back to square one
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TYPES OF BUDGETS LINE-ITEM INCREMENTAL FORMULA PLANNING-PROGRAMMING BUDGETING SYSTEM (PPBS) ZERO BASED
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This note was uploaded on 06/05/2011 for the course SMGT 4336 taught by Professor Burden during the Spring '11 term at Georgia Southern University .

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BUDGETING %26 ACCOUNTING Thur 4-1-2010 LECTURE - BUDGETING...

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