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Essay / Research Paper Abstract
This 7 page paper answers two sets of questions set by the student. The first considers the fictitious company of River Beverages ad the budget setting process, looking at how it operates the way it creates responsibility and accountably and the advantages and advantages of such as complex inclusive system. The second question concerns a man who wants to retire and has a lump sum to invest to give him an income. The paper looks at using only the interest, the impact of inflation and the use of both interest and capital to produce an increasing income. The bibliography cites 4 sources.
Page Count:
7 pages (~225 words per page)
File: TS14_TEquestbudgt.rtf
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Unformatted sample text from the term paper:
capital forecasts for the following year. These draft reports are sent to the regional vice president. The next stage is the strategic planning team who will assess the market
segments in each region and develop forecasts for sales in each region taking into account the local macro and market factors such as the demand for complimentary goods. The
strategic teams forecast are then integrated wit the divisional forecasts and allows a corporate forecast to be created. With the corporate forecast pout together the district sales managers then
forecast the sales for the upcoming year, it is the district managers that will have the ultimate responsibly for the forecasts. When these are then completed they are sent to
the divisional managers, they are reviewed and changes cannot be made unless by discussion and agreement with the district manager. The forecasts are then sent to the strategic team
for review and finally the top management. With the setting of the sales budget and its approval the remaining budget items can be determined, with the aim of achieving a
set level of budgeted profit, even if sales fall. The plant managers break down the budget at local level into the different areas with local management working together to meet
the required budgets with cost cutting and planning and each department ends up with its own budget targets to meet. If we look at this systemic is a lengthy
system with information travelling up and then down the hierarchy. We may argue that all stages are not strictly necessary, but with the model that is being used does allow
for a full understanding and level of inputs to be seen making the budgets more relevant to those who have too implement them. There is the aim of seeking to
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