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OBJU5CH09_07 - h Selling and Administrative Budget i Cash...

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INTRODUCTORY COST ACCOUNTING UNIT 5 - CHAPTER 9: Master Budget and Responsibility Accounting LEARNING OUTCOMES : 1. Define profit planning , budget and master budget, continuous or perpetual budgets, self-imposed budget, participative budget, budget committee, zero- based budgeting, and activity-based budgeting. 2. List the advantages of budgeting to an organization. 3. Understand the human relations dimension, ethical issues relating to budgeting, and the purpose of a budget committee. 4. Prepare the following budgets making up the Master Budget: a. Sales Budget b. Production Budget c. Inventory Purchases Budget (Merchandising firm) d. Direct Material Budget e. Direct Labour Budget f. Manufacturing overhead budget g. Ending Finished Goods Budget
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Unformatted text preview: h. Selling and Administrative Budget i. Cash Budget (including collection of A/R, payment of A/P schedules) j. Budgeted Income Statement and Balance Sheet 5. Understand the differences between budgeting in a profit making enterprise and a not-for –profit organization Demonstration/Assignment questions: E9-1, 9-2, 9-3, 9-4, 9-5, 9-6, P9-9 (cash collections and cash budget), P9-10 (ethics), P9-11 (Production and DM budgets), 9-12 & 9-13 (DL and MO budgets) , 9-14 (cash collections and disbursements), 9-15 & 9-16 (cash budgets), 9-17(mfg. budgets) , 9-18 (cash budget), 9-19 & 9-20 (master budgets), 9-21, (cash budger), 9-22 (mfg budgets). RF 10/06...
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