ACC 100 Lecture Notes - Lecture 7: Advanced Spaceborne Thermal Emission And Reflection Radiometer, Cash Cash

• School: Ryerson University
• Department: Accounting
• Course: ACC 100
• Professor: Richard Deklerk

Document Summary

Chapter 9 budgeting, production, cash and master budget. Help business owners and managers to plan ahead and later, exercise control by comparing what actually happened to what was expected according to the budget. Identify objectives ad actions needed to achieve them. Before a budget is prepared a strategic plan should be developed. Planning looking ahead to see what actions should be taken to realize particular goals. Control looking backward determining what actually happened and comparing it with the previously planned outcome. Objectives form the basis of the budget. Comprehensive financial plan for the organization as a whole. Typically, the master budget is for a one-year period. Yearly budgets are broken down into quarterly and monthly budget. Resolves differences that arise as the budget is prepared. Monitors actual performance as the year unfolds. Operational: describe the income generating activities of a firm. Financial: detail the inflows and outflows of cash and the overall financial position.