Budgeting Basics and Beyond (4th Edition) by Joel G. Siegel, Jae K. Shim, Allison I. Shim

By Joel G. Siegel, Jae K. Shim, Allison I. Shim

A handy and up to date reference device for today's monetary and nonfinancial managers in public perform and personal industry
If the very considered budgets pushes your sanity over the restrict, then this sensible, easy-to-use consultant is simply what you wish. Budgeting fundamentals and past, Fourth Edition equips you with an all-in-one source certain to make the budgeting procedure more uncomplicated, much less demanding, and more suitable. the recent variation covers rolling budgets (forecasts), activity-based budgeting, life-cycle budgeting. Cloud computing, Balanced Scorecard, budgeting for nonprofit companies, company simulations for government and administration education, and lots more and plenty more!• comprises a number of new software program applications, computer-based types and spreadsheet functions, together with price Chain administration software program, monetary making plans and function software program, internet 2.0, Cloud computing, and capital budgeting software
• positive aspects case reviews, illustrations, indicates, varieties, checklists, graphs, samples, and worked-out recommendations to a wide selection of budgeting, making plans, and keep watch over problems
• bargains monetary making plans and new kinds of monetary modeling, variance research, Web-based budgeting, lively budgeting illuminating "what-if" analyses all through, spreadsheet functions, break-even research, venture research, and capital budgeting

Budgeting fundamentals and past, Fourth Edition is a realistic, easy-to-use problem-solver and updated reference device for today's monetary and nonfinancial managers in public perform and personal undefined.

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Contingency planning involves identifying the possible occurrence, ascertaining warning signs and indicators of a problem, and formulating a response. Contingency planning can be in the form of flexible (bracket) budgets. The plan should be modified if needed to generate the best results. There should be flexibility in the plan to adjust to new information and circumstances and to allow for the resolution of uncertainties. BUDGET PROCESS In one company we are familiar with, the financial planning department issues guidelines to department managers.

Budget comparisons may be made by current-year month to last-year month, current-year quarter to lastyear quarter, and cumulative year to date. A comparison is therefore made to similar time periods. Costs should be examined by responsibility. Cost reduction is different from cost control. Cost reduction attempts to lower costs by improving manufacturing methods and procedures, work assignments, and product or service quality. Cost control includes cost reduction. Cost control attempts to obtain cost objectives within the operational setting.

Budgeting Basics and Beyond, Fourth Edition by Jae K. Shim, Joel G. Siegel and Allison I. Shim Copyright © 2012 Jae K. Shim, Joel G. Siegel, Allison I. Shim 2 CHAPTER TWO Strategic Planning and Budgeting Process, Preparation, and Control A L T H O U G H I T D I F F E R S A M O N G companies, planning charts the direction of the company over a period of time to accomplish a desired result, such as improving profitability. Budgeting is simply one portion of the plan, and the annual budget should be consistent with the long-term goals of the business.

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