ACCT 2101 : REVIEW FOR EXAM 2
Document Summary
Involves the selection of strategies to achieve long-term goals and the development policies and plans to implement the strategies: the master budget, a set of interrelated budgets that constitutes a plan of action for a specified time period. Moh: budget data for service revenue may be obtained from expected output or expected input, not-for-profit organizations, the emphasis on cash flows rather than on a revenue and expense basis. As a result, actual results are always compared with the budget data at the activity level used in developing the master budget: flexible budget, projects budget data for various levels of activity. A manager"s performance is evaluated on matters directly under that manager"s control. Accounting 2101 exam 2: responsibility accounting is especially valuable in a decentralized company. Decentralization means that the control of operations is delegated to many managers throughout the operation.
