Budgeting Basics and Beyond by Shim, Jae K. -- Read -- Imperial Library of Trantor

Index

Cover Series Page Title Page Copyright Dedication About the Authors Preface Chapter 1: The What and Why of Budgeting: An Introduction

Planning Types of Budgets Budgetary Process Budget Coordination Departmental Budgeting Actual Costs versus Budget Costs Budget Revision Budget Weaknesses Budgetary Control and Audit Computer Applications Motivation Advantages and Disadvantages of Budgets Budgetary Slack: Padding the Budget Summary

Chapter 2: Strategic Planning and Budgeting: Process, Preparation, and Control

Budgeting Strategic Planning Short-Term Plans Long-Term Plans Choosing a Budget Period Administering the Plan Profit Plan Operational Plan Development Plan Contingency Planning Budget Process Departmental Budgets Budget Accuracy Reports Budget Revision Performance Measures Control and Analysis Summary

Chapter 3: Administering the Budget: Reports, Analyses, and Evaluations

Types of Reports Budget Manual Budget Sheet Performance Reports Budget Audit The Budget Committee Budget Calendar

Chapter 4: Break-Even and Contribution Margin Analysis: Profit, Cost, and Volume Changes

Questions Answered by Break-Even and Contribution Margin Analysis Applications of the CVP Model Contribution Margin Income Statement Impact of Income Taxes Some Applications of Contribution Margin Analysis and What-If Analysis Sales Mix Analysis CVP Analysis with Step-Function Costs Importance of Identifying Variable and Fixed Costs—CVP-Based Strategies Summary

Chapter 5: Profit Planning: Targeting and Reaching Achievable Goals

Goal Congruence Profit Targets Objectives in the Profit Plan Role of Nonfinancial Managers Assumptions Alternatives Responsibility Participation Subordinates Coordination Scheduling Problems Control, Evaluation, and Analysis Internal Controls Real-Life Illustrations in Profit Planning Summary

Chapter 6: Master Budget: Genesis of Financial Forecasting and Profit Planning

Comprehensive Sales Planning Sales Budget Monthly Cash Collections from Customers Production Budget Inventory Purchases, Merchandising Firm Direct Material Budget Direct Labor Budget Factory Overhead Budget Ending Finished Goods Inventory Budget The Cost of Goods Sold Budget Selling and Administrative Expense Budget Cash Budget Budgeted Income Statement Budgeted Balance Sheet Some Financial Calculations Using an Electronic Spreadsheet to Develop a Budget Plan Financial Forecasting: The Percent-of-Sales Method Summary

Chapter 7: Cost Behavior: Emphasis on Flexible Budgets

A Look at Costs by Behavior Analysis of Mixed (Semivariable) Costs High-Low Method Regression Analysis Fixed Budgets versus Flexible Budgets and Performance Reports Summary

Chapter 8: Evaluating Performance: The Use of Variance Analysis

Usefulness of Variance Analysis Standard Setting Planning Variance Sales Variances Cost Variances Material Variances Labor Variances Overhead Variances Interrelationship of Variances Mix and Yield Variances for Material and Labor Profit Variance Analysis Nonmanufacturing Activities Illustrative Variance Analysis Report for a Service Business Variances to Evaluate Marketing Effort Illustrative Marketing Performance Report Variances in Administrative Expenses Capital Expenditures Variance Analysis Reports Summary

Chapter 9: Manufacturing Costs: Sales Forecasts and Realistic Budgets

Illustration Planning and Control of Material Purchases and Usage Materials Budgets Materials Purchase Budget Illustrated Planning and Control of Direct Labor Planning and Control of Factory Overhead Summary

Chapter 10: Marketing: Budgeting for Sales, Advertising, and Distribution

Marketing Budgets Selling Expenses Advertising and Sales Promotion Distribution Costs Analysis and Evaluation of Distribution Costs Control over Distribution Costs Packaging Travel and Entertainment Budget Meetings Summary

Chapter 11: Research and Development: Budgets for a Long-Term Plan

R&D Costs R&D Planning Funding Level R&D Budget Coordination Analysis and Evaluation Control over R&D R&D Risk Summary

Chapter 12: General and Administrative Costs: Budgets for Maximum Productivity

Budget Process Analysis and Evaluation Cost Control Employees Summary

Chapter 13: Capital Expenditures: Assets to Be Bought, Sold, and Discarded

Budget Process Authorization of Capital Budget Capital Budget Forms Capital Budget Capital Expenditure Reports Budget Revisions Special Projects Analysis of Capital Projects Control over Capital Expenditures Summary

Chapter 14: Forecasting and Planning: Reducing Risk in Decision Making

Who Uses Forecasts? Forecasting Methods Selection of Forecasting Method Qualitative Approach Common Features and Assumptions Inherent in Forecasting Steps in the Forecasting Process Summary

Chapter 15: Moving Averages and Smoothing Techniques: Quantitative Forecasting

Naive Models Smoothing Techniques Summary

Chapter 16: Regression Analysis: Popular Sales Forecast System

Least-Squares Method A Word of Caution Regression Statistics Using Regression on Excel Summary

Chapter 17: Cash Budgeting and Forecasting Cash Flow: Two Pragmatic Methods

Account Analysis Cash Budget Cash Variance Analysis Cash Flow Software A Caveat—Perils of Spreadsheets Summary

Chapter 18: Financial Modeling: Tools for Budgeting and Profit Planning

A Financial Model Budgeting and Financial Modeling Use of Financial Modeling in Practice Developing Financial Models Summary

Chapter 19: Using Software Packages and E-Budgeting: Computer-Based Models, Spreadsheets, and Web-Based Systems

Use of a Spreadsheet Program for Financial Modeling and Budgeting Budgeting Software Packages Latest Generation of Budgeting and Planning Software and E-Budgeting Summary

Chapter 20: Capital Budgeting: Selecting the Optimum Long-Term Investment and Real Options

Accounting (Simple) Rate of Return Payback Period Payback Reciprocal Discounted Payback Period Net Present Value Profitability Index Internal Rate of Return (Time-Adjusted Rate of Return) Nondiscretionary Projects Comparison of Methods Capital Budgeting Process Real Options Discovery-Driven Planning Capital Budgeting and Inflation Postaudit Project Review Capital Budgeting and Nonprofit Organizations Risk and Uncertainty Summary

Chapter 21: Budgeting for Cost Management: Activity-Based Budgeting and Life-Cycle Budgeting

Activity-Based Budgeting Activity-Based Management Life-Cycle Budgeting Kaizen Budgeting Summary

Chapter 22: Zero-Base Budgeting: Priority Budgeting for Best Resource Allocation

Zero-Base Budgeting Process Zero-Base Budgeting Effects Activity Units Decision Packages Ranking Proposals Project (Program) Budgets Summary

Chapter 23: Managers' Performance and Balanced Scorecard: Evaluation at the Division Level

Appraising Manager Performance Responsibility Center Revenue Center Cost Center Profit Center Investment Center The Balanced Scorecard Applying the Balanced Scorecard to a School District Budgeting and the Balanced Scorecard: An Oxiteno Case Study Summary

Chapter 24: Budgeting for Service Organizations: Special Features

Airlines Hotels Summary

Chapter 25: Budgeting for Nonprofit Organizations: Diverse Types

Planning Funds Recordkeeping and Reporting Government Budgets and Accounting Bases Budget Development Budgeting Revenue Budgeting Expenditures Encumbrances Budgetary Control Effectiveness and Control Measures Organizational Structure Functional or Program Reporting Budget Adaptability Budget Participants Budgeting Aspects for Specific Nonprofits Summary

Chapter 26: Using Management Games for Executive Training

The Capstone Business Simulation

Appendix I: Future and Present Value Tables Appendix II: Statistical Table Glossary of Budgeting and Planning Terms Index

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