BUDGETING

Question 1

Who spearheaded short term budgeting?

Types of Budget?

Answer 1

Budget Commitee headed by budget director

ST < 1 year
LT > 1 year (capital budgeting)

Question 2

Types of Budgeting?

Answer 2

Continuous - laging 12 months
Zero based - back to zero lagi
Life Cycle - nakalaan sa buong life ng project
Kaizen - nakalaan hanggang sa innovation ng project

Question 3

Master Budget?
- end goal of budgeting

Types?

Answer 3

Operating - sales, cogs,dm,dl etc.

Financial - cash

Question 4

starting point of budget?

end product of operating budget?

shows anticipated cash flow?

project budget data for various level of activity?

management is concern only on major difference between budget and actual result?

Answer 4

• sales budget
• budgeted income statement
• cash budget
• flexible budget
• management by exception