ACTG 2300 Lecture 14: Day 14 Notes

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Day 14 2/19
EXAM 2 (DCB 300)
Ch. 7 Activity Based Costing
Ch. 12 short term business decisions (5)
Ch. 8 Budgeting
CH. 9 Flexible Budget
o Variance is not covered on exam
Chapter 8 Budgeting
Planning and Control Cycle
Activities performed in an accounting department
Stages
1. Planning (strategic planning)
2. Programming
a. Translation into technical terms of the strategic plan
3. Budgeting
a. Short term planning process
b. Core of planning and control cycle b/c it connects planning phase to
the control phase of the cycle
4. Monitoring
a. Process through which we compare the actual results of the
operations with the budgeted/targeted numbers
5. Rewarding
a. Either reward the practices that led to good results, or punish the
practices that led to bad results
b. After, we can identify good/bad processes (what went well/wrong)
c. After, start planning for the next period
INVOLVED?
Planning
Programming
Budgeting
Monitoring
Rewarding
Corporate
Yes
Yes
Yes
Yes
Yes
Business
Yes
Yes
Yes
Yes
Yes
Department
Maybe
Yes
Yes
Yes
Yes
Business and department levels often have input, but it goes through
corporate approval steps
Leaders
Corporate
CEO, CFO, CMO, CIO, etc.
Business
Below the chief people
Dean of each school
Product managers, etc.
Department
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