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CMA.rtf - MEMBER NAME: JAWARIA ASIF IQBAL (14053) ANUM...

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MEMBER NAME:JAWARIA ASIF IQBAL (14053)ANUM UROOJ (13986)SAHAR RAZZAQ (12688)PROGRAM: MBA 3COURSE: COST AND MANAGERIAL ACCOUNTINGASSIGNMENT SUBMITTED TO: MISS NOSHEENMaster Budget Definition:
The master budget is the aggregation of all lower-level budgets produced by a company'svarious functional areas, and also includes budgeted financial statements, a cash forecast,and a financing plan. The master budget is typically presented in either a monthly orquarterly format, and usually covers a company's entire fiscal year. An explanatory textmay be included with the master budget, which explains the company's strategicdirection, how the master budget will assist in accomplishing specific goals, and themanagement actions needed to achieve the budget. There may also be a discussion of theheadcount changes that are required to achieve the budget.A master budget is the central planning tool that a management team uses to direct theactivities of a corporation, as well as to judge the performance of its variousresponsibility centers. It is customary for the senior management team to review anumber of iterations of the master budget and incorporate modifications until it arrives ata budget that allocates funds to achieve the desired results. Hopefully, a company usesparticipative budgeting to arrive at this final budget, but it may also be imposed on theorganization by senior management, with little input from other employees.

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Term
Spring
Professor
Professor Rehan
Tags
Management, Asif Iqbal, SAHAR RAZZAQ

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