Budgeting Basics and BeyondBudgeting Basics and Beyond, Second Edition provides managers with a hassle-free resource that’s guaranteed to make the budgeting process easier, less stressful, and more effective. This updated edition features new information on service and nonprofit applications, types of financial models, Web-based budgeting and planning solutions, and much more. From preparing and presenting budgets to monitoring results against budget figures and handling any budget problem that comes up, this Second Edition is a go-to reference for every budgeting issue. Packed with case studies, illustrations, exhibits, forms, checklists, graphs, samples, and worked-out solutions to a wide variety of budgeting, planning, and control problems, this Second Edition is both a handy desk reference and problem-solver for today’s financial and nonfinancial managers in public practice and private industry. |
Contents
Chapter 1 The What and Why of Budgeting An Introduction | 1 |
Chapter 2 Strategic Planning and Budgeting Process Preparation and Control | 21 |
Chapter 3 Administering the Budget Reports Analyses and Evaluations | 35 |
Chapter 4 Breakeven and Contribution Margin Analysis Profit Cost and Volume Changes | 45 |
Chapter 5 Profit Planning Targeting and Reaching Achievable Goals | 63 |
Chapter 6 Master Budget Genesis of Forecasting and Profit Planning | 77 |
Chapter 7 Cost Behavior Emphasis on Flexible Budgets | 95 |
Chapter 8 Evaluating Performance The Use of Variance Analysis | 105 |
Chapter 16 Regression Analysis Popular Sales Forecast System | 245 |
Chapter 17 Cash Budgeting and Forecasting Cash Flow Two Pragmatic Methods | 255 |
Chapter 18 Financial Modeling Tools for Budgeting and Profit Planning | 267 |
Chapter 19 Software Packages Computerbased Models and Spreadsheet Software | 279 |
Chapter 20 Capital Budgeting Selecting the Optimum Longterm Investment | 291 |
Chapter 21 Zerobase Budgeting Priority Budgeting for Best Resource Allocation | 331 |
Chapter 22 Managers Performance Evaluation on the Division Level | 339 |
Chapter 23 Budgeting for Service Organizations Special Features | 359 |
Chapter 9 Manufacturing Costs Sales Forecasts and Realistic Budgets | 155 |
Chapter 10 Marketing Budgeting for Sales Advertising and Distribution | 167 |
Chapter 11 Research and Development Budgets for a Longterm Plan | 185 |
Chapter 12 General and Administrative Costs Budgets for Maximum Productivity | 197 |
Chapter 13 Capital Expenditures Assets to Be Bought Sold and Discarded | 201 |
Chapter 14 Forecasting and Planning Reducing Risk in Decision Making | 227 |
Chapter 15 Moving Averages and Smoothing Techniques Quantitative Forecasting | 235 |
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Common terms and phrases
activity actual costs advertising amount analysis assets break-even budgeting process capital budgeting capital expenditures cash budget cash collections cash flows cash inflows changes computed contribution margin contribution margin analysis customers decision direct labor direct materials discount discounted payback division dollars earnings Efficiency Variance employees estimated evaluation example Exhibit expected exponential smoothing factors factory overhead financial model fixed costs fixed overhead flexible budget forecast goals income statement increase internal rate inventory investment long-term manufacturing marketing MEAN SQUARED ERROR method mix variance month needed net present value operating Overhead Budget payback period percent present value price variance profit plan profitability index proposal purchase quantity variance rate of return ratio regression regression analysis responsibility revenue risk sales mix sales volume Schedule selling expenses selling price Semivariable standard cost taxes Total unfavorable variable costs Variable overhead Variance Actual versus volume variance