Accounting Notes- Day 22

Accounting Notes- Day 22 - ACCOUNTING 2000 11/17/11 Budget-...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ACCOUNTING 2000 11/17/11 Budget- formal written statement of managements plans for a specified future time period, expressed in financial terms-primary way to communicate all parts to company-efficient-control device Benefits :-requires all levels of management to plan ahead and formalize goals-provides definite objectives-creates an early warning system for potential problems-facilitates coordination of activities-results in greater management awareness-motivates personnel CLICKER : which is not a benefit of budgeting?-enables disciplinary action Effective Budgeting :-depends on sound organizational structure-based on research and analysis-accepted by all levels of management Budget period :-any period of time-year is the most common-long enough to provide an attainable goal-short enough for reliable estimates-continuous 12 month budget Factors considered in sales forecasting :-general economic conditions-industry trends-market research studies-anticipated advertising-previous market...
View Full Document

This note was uploaded on 01/19/2012 for the course ACCT 2000 taught by Professor Holmes during the Fall '08 term at LSU.

Page1 / 3

Accounting Notes- Day 22 - ACCOUNTING 2000 11/17/11 Budget-...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online