BSLW1102 Lecture Notes - Income Statement, Retained Earnings, Budget
22 Jan 2014
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Document Summary
The build-it company budgeting project (adapted from hilton 9th ed. A budget is a detailed plan that explains how a company will acquire and use resources during a particular time period. Budgets are used for a variety of reasons, including planning, allocating resources, communicating, controlling operations, evaluating performance and providing performance incentives. In addition to being an important part of the managerial accountant"s responsibilities, many people in different departments throughout an organization are called upon to prepare and evaluate budgets as part of their job. It is important to have a solid understanding of the budgeting process to be successful in any area of an organization. This project gives you a sample company for which you and the other member of your team will prepare a number of the schedules that are required to complete the annual master budget for the company.
