Chapter 13: Planning and Budgeting
Budget: Comprehensive financial plan for achieving the financial and operational goals of an
organization. Is a part of the planning process and helps us formalize our goals and objectives.
Benefits of budgeting
Chapter 15: Transfer Pricing
Transfer Price: The value or amount recorded in a firms accounting record when one business unit sells
(transfers) a good or service to another business unit. The accounting records in the two units
(responsibility centers) tr
Chapter 12: Fundamentals of Management Control System
Management control system is designed to help managers make decisions that will increase the organizations performance.
The purpose of the management control system is to align more closely the interes