Foundations of BudgetingFoundations of Budgeting is written specifically for TAFE/VET Accounting students, comprehensively covering all the learning outcomes and assessment criteria of the National Accounting module NAP730 - Budgeting. It features the following: concise and manageable size, which covers all learning outcomes and assessment criteria within the National Accounting module NAP730 - Budgeting; an emphasis on probelm solving - every chapter includes a range of comprehensive and practical problems, which provide the cornerstone for understanding and applying budgeting concepts; lots of illustrations and examples - including an entire chapter devoted to a comprehensive worked example; first three chapters that examine the theory behind budget preparation, thus allowing the reader to develop an understanding of the process and build confidence by using simple examples with clearly defined problems; no irrelevant subject matter - any material not relevant to learning outcomes of NAP730 is excluded; only problems that have been class tested within allowed times; and complete solutions to all problems, which make the text suitable for self-paced learning. |
Contents
Review questions | 7 |
Budgeted balance sheet | 13 |
COMPREHENSIVE WORKED EXAMPLE | 15 |
Copyright | |
6 other sections not shown
Common terms and phrases
000 direct labour 000 insurance 000 kg component 000 Total expenses 000 Variance actual results add Closing assets budget Budgeted budget period budget Production budget year ending budgeted balance sheet budgeted income statement budgeted sales BUDGETING IN MANUFACTURING calculated cash budget cash flow statement cash flows closing inventory Closing raw material Company Budgeted COMPREHENSIVE WORKED EXAMPLE credit sales December 19X8 desired closing stocks direct labour budget direct labour hours Direct materials Direct Direct materials purchases direct materials usage disbursements ending 31 December expenses budget Expenses direct materials factory overhead budget favourable variance financial budget financial management fixed expenses Gross profit itemise level of activity MANUFACTURING OPERATIONS master budget materials Direct labour materials purchases budget materials usage budget month of sale Nathan Company opening inventory operating expenses organisation organisation's pro-forma production budget quarter ending 31 REVIEW QUESTIONS sales budget sales forecast scattergraph selling price sold static budget T-format variable costs