English | Size: 510.13 MB
Genre: eLearning
Know the accountant’s Jargon. Know how to prepare the sales budget; production budget the purchasing budget
What you’ll learn
Know how to Describe the role of budgeting in the planning, control, and resource allocation process and develop different types of budgets using spreadsheets
Know how to Apply the concepts of management accounting to the various activities in the organization by analyzing different types of costs and use them in decision making situations
Develop a Master Budget
Develop a Cash Budget
Know how management uses budget control report to evaluate managers
Apply the concept of responsibility accounting in managerial performance evaluation
Knowhow the balanced Scorecard is used
What is a Master Budget?
The master budget is the aggregation of all lower-level budgets produced by a company’s various 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 or quarterly format, and usually covers a company’s entire fiscal year. An explanatory text may be included with the master budget, which explains the company’s strategic direction, how the master budget will assist in accomplishing specific goals, and the management actions needed to achieve the budget. There may also be a discussion of the headcount changes that are required to achieve the budget.
A master budget is the central planning tool that a management team uses to direct the activities of a corporation, as well as to judge the performance of its various responsibility centers. It is customary for the senior management team to review a number of iterations of the master budget and incorporate modifications until it arrives at a budget that allocates funds to achieve the desired results. Hopefully, a company uses participative budgeting to arrive at this final budget, but it may also be imposed on the organization by senior management, with little input from other employees.
Some past student comments:
“Great Class, systematic, and very organized Thanks , it’s a great reviewing for my managerial accounting 15 years ago.” Tung KU
“Awesome 🙂 n very beneficial Thank u Dr :)”Rabia Taher
“Very Good course with the explanations, Illustrations and quizzes. It makes you well prepared to actually give the exam for a good grade” Muhammed Hassen
“Great course, I’m learning a lot about managerial accounting!” Mark Furman
This course covers all the major managerial accounting concepts that are a part of every Managerial ( Management) Accounting course in every Master of Business Administration university program.
Who this course is for:
Those who want to be “A” students
College and university students taking an introductory management or managerial accounting course.
Business people who have business experience and want to understand more about planning and controlling of business operations and be able to make more informed business decisions.
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