ACC 406 Study Guide - Budget, Operating Budget, Qualitative Economics
16 Apr 2011
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Document Summary
These notes are posted on blackboard to high light and complement certain aspects of the topic, facilitate those students who may have missed my lecture, balance traditional with internet based learning and overall enhance student=s learning. The notes are not meant to suggest what may be in the exams, replace textbook studying and/or problem solving. A budget is a detailed outline of how resources will be acquired and used over a specific period of time. It is an orderly, quantitative plan of action for a future period of time. Every organization small, big, in the private or public sector needs a budget. It communicates the set objectives to others and promotes co-ordination among. A budget period is important as it establishes different types of budgets. It is usually a long-term budget of expenditures for fixed assets. Capital budgets are focused on the balance sheet and the statement of changes in financial position.
