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UNIT 22 study guide - a every year start from scratch b how...

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UNIT 22 1) One or two sentence description, and how it is used a. Master budget a.i. detailed business operational plan for the coming period b. Sales forecast b.i. starting budget c. Inventory target schedule d. Production plan e. Raw material budget f. Labor budget g. Overhead budget h. Purchasing schedule i. Services schedule j. Selling, promotion and advertising budgets k. Administrative expense budget l. Cash flow budget m. Cash disbursements budget n. Cash collections budget o. Borrowing and investment budget p. Pro forma income statement q. Pro forma balance sheet r. Capital expenditures 2) a. zero based budgeting
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Unformatted text preview: a. every year start from scratch b. how much products are going to sell this year each month c. how much are we going to make b. participative budgeting a. ask workers to help you put together the product b. dangerous c. rolling budget a. prepared detailed budget b. multiple years d. volume variance e. price variance f. usage variance (or Efficiency variance) 3)“Management by exception” when management finds something in the budget they need to check out. Want to be over the budget in revenue...
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