Some of the key study areas are listed below (while these are key areas‚ remember that the exam is comprehensive for all the assigned course content and this study guide may not be all inclusive). TCO TOPIC 1 Types of budgets 1 Advantages and disadvantages of budgets 2
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1. Introduction Piele SA started a budget committee consisting of the chief accountant‚ a cost accountant‚ a technical director‚ and heads of the production departments. The committee was formed to help develop a budget using the zero-based budgeting system. Piele SA’s budget was based on the expected level of activity in sales that the firm expected to generate during the year. Piele SA started its budget from zero‚ and continued to re-evaluate and adjust targets throughout the operating year;
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Block 3: Block 3 - Section 3 1. Clarify the concept of feedback on decision making? The idea of ’feedback’ emerged from the area of systems thinking & it useful way to consider both the role of information in decision-making & performance of an information system. • The role of decision maker is to gather information on the situation of interest & use it to compare the actual situation with what it desired as defined by the decision maker’s goals. • Feedback loop: Feed
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and control of systems Be able to apply forecasting techniques to obtain information for decision making Forecasting techniques‚ Funds‚ sources Be able to participate in the budgetary process of an organisation Target setting‚ Process‚ Budgets‚ Monitoring process Be able to recommend cost reduction and management processes for an organisation Cost reduction‚ Activity-based costing Abel to use financial appraisal techniques to make strategic investment decisions for an organisation
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| |Costs incurred directly as a result of providing a specific service or good | |Centers charged with controlling costs and generate revenue | |Have no revenue budget and no obligation to earn revenue | |Costs that do not vary as service volume varies | |Fixed over some range of service volume‚ but rise to a new level
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be decrease. The sales budget is bound to reduce. On the contrary‚ the sales budget is bound to rise. If consumers do like the airline’s services‚ the sales forecasting is will be increase to meet consumer. If consumers do not like the airline’s services‚ the company will decrease sales budget to ensure profitability. 9.18 a manager of a marketing research company made the following comment: I don’t understand why I should be concerned with motivation when setting my budget. It us my job to set targets
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Department of Budget and Management Malacañang‚ Manila OPIF REFERENCE GUIDE Organizational Performance Indicator Framework A Guide to Results-Based Budgeting in the Philippines Manila‚ April 2012 This document was prepared with assistance from Delegation to the Philippines EUROPEAN UNION OPIF Reference Guide © 2012 by Department of Budget and Management All rights reserved. Any part of this book may be used and reproduced‚ provided proper acknowledgement is made. OPIF Reference
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Cost Management A Case Study On Hawkins Cookers Limited Submitted to: Submitted By: Dr.N.K Gupta Satyabrat Kaushik Roll No. – 193 (Sec C) Table Of Contents * About the Company * Mission & Values * Product line * Costing Techniques * Cost Management System(Questionnaire) * Reporting and Evaluation (performance evaluation) * Transfer Pricing * Costing Techniques * Budgeting‚ budgetary control
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Chapter 6. Master Budget and Responsibility Accounting 6-16 1. Total revenues $5‚623‚500 2. Total revenues $5‚631‚100 6-17 210‚000 6-18 2‚530‚000 6-19 Prod budget–FG 47‚000 units Pur budget–DM 131‚000 gallons 6-20 1. $3‚000‚000 2. 4‚500‚000 units 3. 100‚000 4-gallon units 6-21 1. Wool: 3‚000‚000 skeins; $6‚017‚450 Dye: 50‚000 gal; $249‚850 2. Weaving: $3.3664/DMLH Dyeing: $28.4644/MH 3. $1‚219.11 4a. $200‚000‚000 4b. $190‚000‚000 5a. $121‚928‚300
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08 Fall 08 Fall 1. Evaluate the decision to use “minimum performance standard “ (MPS) targets instead of “stretch” targets. We evaluate the decision to use “minimum performance standard” targets by looking at how good this new target system achieves the four purposes of planning and budgeting processes. First of all‚ planning and budgeting processes have to enhance management control. Derived from the case‚ we think corporate managers have too much control on the targets. General managers
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