Budget Planning and Control
Use the Internet to research
budget planning and control. Imagine that the company that you currently work
for, have previously worked for, or would like to work for in the future has
tasked you with preparing a budget plan.
Write four (4) page
paper in which you:
1.
Describe the company that you currently work for, have previously worked
for, or would like to work for in the future. Determine at least two (2) compelling
reasons that this company should prepare and manage a budget. Predict the two
(2) most likely positive and negative financial outcomes for this company if it
properly or improperly performs effective budgeting.
2.
Outline a high-level budget plan for the company. In your high-level budget
plan, recommend the most appropriate budgeting phases for the company.
3.
Propose two (2) methods and techniques that the company should use to
manage its budget over time in preparation for the fact that budgets are ever changing.
Justify your response.
4.
Imagine that the company is facing a financial challenge that is causing
the actual amounts of money that it spends to become significantly off target
from its budgeted amounts. Prepare an action plan to resolve the budget misalignment.
In your action plan, recommend at least one (1) budgeting technique to resolve
the budget and actual discrepancies. Provide a rationale for your response.
5.
Use at least three (3) quality academic resources in this assignment.Note: Wikipedia and other Websites do not quality as academic resources.
Your assignment must follow
these formatting requirements:
·
Be typed, double spaced, using Times New Roman font (size 12), with
one-inch margins on all sides; references must follow APA or school-specific
format. Check with your professor for any additional instructions.
·
Include a cover page containing the title of the assignment, the student’s
name, the professor’s name, the course title, and the date. The cover page and
the reference page are not included in the required page length.
The specific course learning
outcomes associated with this assignment are:
·
Evaluate management control systems and examine their relationship with
accounting and planning, including feedback and non-?nancial performance
measurements.
·
Evaluate decision making tools for capital investments, budgeting, and
budgeting controls.
·
Analyze financial accounting tools and techniques that convert financial
accounting data into information for decision making.
·
Use technology and information resources to research issues in financial
accounting for managers.
·
Write clearly and concisely about financial accounting using proper writing
mechanics.
Grading for this assignment
will be based on answer quality, logic / organization of the paper, and
language and writing skills, using this rubric;
