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Actividad 1 (Mapa Mental o Conceptual) Marco Avila A00829946 - Coggle…
Actividad 1 (Mapa Mental o Conceptual)
Marco Avila
A00829946
Objetctives of Budgeting
establishing specific goals,
executing plans to achieve the goals,
periodically comparing actual results with the goals.
Human Behavior and Budgeting
▪ Budgeted goals are set too tight, which are very hard or impossible to achieve. ▪ Budgeted goals are set too loose, which are very easy to achieve. ▪ Budgeted goals conflict with the objectives of the company and emplo
Static Budget
A static budget shows the expected results of a responsibility center for only one activity level. Once the budget has been determined, it is not changed
Flexible Budget
Show the expected results of a responsibility center for several activity levels. A flexible budget is, in effect, a series of static budgets for different levels of activity.
Master Budget
Is an integrated set of operating and financial budgets for a period of time. Most companies prepare a master budget on a yearly basis.
Operating Budgets
Sales Budget
Begins by estimating the quantity of sales. The prior year’s sales are often used as a starting point.
Production Budget
estimates the number of units to be man-ufactured to meet budgeted sales and desired inventory levels.
Bibliografia
Warren, Jones, Tayler, W. J. T. (2020). Financial and Managerial Accounting (15.a ed.). Cengage.
