Budgeting
This chapter describes the budgeting process and shows how the various operating budgets relate to each other. The sales budget is the foundation for profi t planning. Once the sales budget has been set, the production budget and the selling and administrative expense budget can be prepared because they depend on how many units are to be sold. The production budget determines how many units are to be produced, so after it is prepared, the various manufacturing cost budgets can be prepared. All of these budgets feed into the cash budget and the budgeted income statement and balance sheet. The parts of the master budget are connected in many ways. For example, the schedule of expected cash collections, which is completed in connection with the sales budget, provides data for both the cash budget and the budgeted balance sheet. The material in this chapter is just an introduction to budgeting and profi t planning. In later chapters, we will see how budgets are used to control day-to-day operations and how they are used in performance evaluation.
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- Introduction, Organization and overview of the course.
- concept and classification of costs.
- Cost of goods sold, cost of good manufactured
- Cost of goods sold, cost of good manufactured
- Costing and control of material,
- Costing and control of material,
- costing and control of labour,
- costing and control of labour,
- costing and control of factory over head
- Factory Overhead Departmentalization
- product cost accumulation systems
- product cost accumulation systems
- Job order Costing
- Job order Costing
- Job order Costing
- Job order Costing
- Process costing
- Process costing
- Process costing
- Process costing
- Joint product and by product costing
- Joint product and by product costing
- Joint product and by product costing
- Joint product and by product costing
- Budgeting
- Budgeting
- Budgeting
- Budgeting
- Direct and absorption costing
- Direct and absorption costing
- Break-even analysis and cost-volume-profit analysis
- Break-even analysis and cost-volume-profit analysis
- Chapters 32
- Department Noon Business School
- Teacher
Shahid Mahmood
