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240ch19lecture2010 - Chapter 19 Lecture Good Morning...

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Chapter 19 Lecture Good Morning everyone, You have made it to my final lecture. Congratulations!! Not everyone was able to put up with me this long. Anyway, follow along as I discuss ch 19. This is an appropriate chapter to end the semester with. We should still be thinking about budgets in ch 18. This chapter is a follow up to ch 18. Remember the purposes of personal budgeting question we had on the last exam. See pg 874. One of the purposes was to allow
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ongoing comparisons between actual results and the plan. Well that is exactly the emphasis of ch 19. In ch 19 they teach us how companies will compare actual #’s to the budget. They also show us how to break it down further to evaluate how we use materials and labor in a company. Beginning on pg. 944, read the blue letters closely. We must begin by making sure we know who is responsible for what. See the org. chart on pg. 945, which helps one determine who is responsible. On pg. 946, make sure you understand the difference between a centralized company and a decentralized company.
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