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Master Budget
CHAPTER 6
MASTER BUDGET AND RESPONSIBILITY ACCOUNTING
I. LEARNING OBJECTIVES
1. Describe what the master budget is and explain its benefits
2. Describe the advantages of budgets
3. Prepare the operating budget and its supporting schedules
4. Use computer–based financial planning models in sensitivity analysis
5. Explain kaizen budgeting and how it is used for cost management
6. Prepare an activity–based budget
7. Describe responsibility centers and responsibility accounting
8. Explain how controllability relates to responsibility accounting
II. CHAPTER SYNOPSIS
Chapter 6 introduces the important topic of budgets. Budgets are the primary financial planning tool
used by businesses. The...show more content...
Do Chapter Quiz #3.Assign Exercise 6–16.
TEACHING TIP
Students sometimes find it difficult to understand the relationship among the different budgets.
Assigning an exercise that requires students to prepare all budgets and then reviewing the budgets in
class helps students better understand and relate to the concepts in this chapter.
Budgets usually cover a specific period of time, such as a month, quarter, or year. The most common
budget is a one–year budget, which may then be subdivided into monthly and quarterly segments.
Preparation of a budget typically begins with an estimate of revenues and ends with the budgeted
income statement. A common nine–step approach to developing an operating budget and supporting
schedules is as follows:
1. Prepare the revenues budget. 2. Prepare the production budget. 3. Prepare the direct materials
usage and purchases budgets. 4. Prepare the direct manufacturing labor budget. 5. Prepare the
manufacturing overhead budget. 6. Prepare the ending inventories budget. 7. Prepare the cost of
goods sold budget. 8. Prepare the nonmanufacturing costs budget. 9. Prepare the budgeted income
statement.
(Exhibit 6–2 provides an overview of the budgeting process .) (Exhibits 6–5 through 6–8 display
sample budget reports.)
Do Chapter Quizzes
Get more content on HelpWriting.net
Master In Public Health
Master in Public Health with a Specialization in Environmental and Occupational Health
Just a couple months I lost sight of all the things I hoped to accomplish as a public health
professional. Recently, my family had suffered the loss of my grandmother. A month later my
mother unexpectedly passed away. Losing my grandmother was hard but losing my mother was
tragic. Everything I once knew to be true was gone. At that time, I began to turn my back on my
hope for the future. My mother played a great role in my life. A significant role that no amount of
money or time afforded would be enough to show my appreciation. My mother would shine brightest
in moments like this when I felt lost and confused. She would breathe confidence and reassure me
...show more content...
As the CDC states simply "Public health connects us all", years past, present and future. Public health
is an all–encompassing field that does not just merely concern itself with diagnosing and treating
patients. It observes, studies, researches, and mitigates the cause and effect relationships we have
within our environments as well as the rest of the world. It is a field devoted to improving the
lives of all. I have developed a passion and appreciation for public health because it does not
merely observe end results and compute them into statistics, but reaches back in time to
understand how and why. Coming from a single parent household, of a low economic status I was
affected by what we as public health professionals understand to be the social determinants of
health. I myself did not realize that these "determinants" existed in my personal life, nor did I
understand the way they shaped the lives of everyone. Public health has played a vital role in my
life since I can remember. From getting my vaccinations at the health department as a child, to the
implantation of sidewalks in my neighborhood, to the banning of cigarette smoke in restaurants, to
the seatbelt campaign "click it or ticket", to the free HIV education and testing offered on my
college campus. Public health is fascinating and I would be honored to give to others what was so
freely given to
Get more content on HelpWriting.net
I Am A Graduate Student Essay
As the fall semester is quickly winding down, I often catch myself reflecting on the fact that I will
be completing my second semester as a graduate student. It certainly still is a surreal feeling for
myself. I cannot even fathom the fact that I will be able to say that I have gotten through two
semesters of graduate school. The reason I bring this up is because when I first started the graduate
program, I would often wonder whether I belonged in graduate school. There was a sense of
self–doubt. Therefore, I had trouble believing that I was worthy of being in this program. And, as
ignorant as it may sound, I attributed my acceptance into the program to luck and fate. I believe
one major reason for feeling that way is due to the fact that I am the first one in my family to attend
college, so I felt incapable of achieving something that had never been done in my family.
Furthermore, self–reflection allows for me to reflect back on my collegiate journey and reminisce
on my own personal obstacles and challenges that I have dealt with. It also allows for me to be a
more effective mentor. I see myself as a mentor who is empathic and understanding of those students
who are also first–generation college students who may be experiencing similar issues. Not
necessarily only being able to be an effective mentor when working with first generations students,
rather learning new perspectives and understanding different cultural norms that can further assist me
as I continue to develop
Get more content on HelpWriting.net
English Master Goal
The goal I would like to achieve with my English master's degree is to seek a teacher position that
will be fully utilized in order to provide students with a positive learning experience. By using this
degree, I want to lead by example to my peers and to the young generation. I want to show
everyone that anything is possible once you apply yourself. This is what I want to apply to my
pedagogy. Once I received my degree, I envision myself as a teacher that has purpose and diligence.
I want to show my students that learning can be fun and educational. I plan on doing so by providing
a positive teaching experience for my students. I want to show my students that I am passionate to
provide them the best education possible. I want to push my
Get more content on HelpWriting.net
I Am My Master 's Degree Essay
Going back to get my master's degree was a tough decision for me. I always used to say I was not
going to get my master's degree because there was no reason to get it, especially seeing, as I
wanted to be a flight nurse for a local medical helicopter. However, thinking about it a little more I
realized I might want to teach later on in my career. I did not want to have to go back to school
later on. At this point in my life, it was a good time to go back to school, I do not have any kids,
and my schedule is not that busy. I decided to pursue the generalist track because I am not one
hundred percent sure what I want to do further on in my career. I like the idea that if I do decide
later on that I want to teach I can go back and take a few classes and get my certificate in education.
Being on the generalist track keeps more options open for me later on in my career. At a master's
degree level "outcome goals... include reading the nursing and health care literature, critically
appraising evidence as a basis for practice decisions, and applying it to patient care to make care
decisions with the best information available" (Kim & Hayat, 2015, p. 144). Being a master's
prepared nurse will allow me to give the patients I am taking care of better quality care
Examples
There are multiple examples of the contribution that nurses with master's degree have in the health
care field. There are not many nurses out there that have his or her master's degree that have studied
on the
Get more content on HelpWriting.net
Masters Reflection
Before taking this class, I had planned on continuing my education and starting my Master's
degree in the fall of 2016. I was going to pursue a degree in Healthcare Administration. However,
after taking this class I am unsure if I want to pursue my Master's. I am very grateful that next
quarter is my last leg of my undergraduate career. It has taken me a very long time to get here. As
for my future, I will be indulging in a little bit of self–evaluation and determining if my future is
what I planned on it being when I started this journey years ago. I felt that I struggled with the terms
of this class immensely. I have taken other online classes and have never felt this much pressure or
frustration. Unfortunately, I have never been a
Get more content on HelpWriting.net

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Master Essay

  • 1. Master Budget CHAPTER 6 MASTER BUDGET AND RESPONSIBILITY ACCOUNTING I. LEARNING OBJECTIVES 1. Describe what the master budget is and explain its benefits 2. Describe the advantages of budgets 3. Prepare the operating budget and its supporting schedules 4. Use computer–based financial planning models in sensitivity analysis 5. Explain kaizen budgeting and how it is used for cost management 6. Prepare an activity–based budget 7. Describe responsibility centers and responsibility accounting 8. Explain how controllability relates to responsibility accounting II. CHAPTER SYNOPSIS Chapter 6 introduces the important topic of budgets. Budgets are the primary financial planning tool used by businesses. The...show more content... Do Chapter Quiz #3.Assign Exercise 6–16. TEACHING TIP Students sometimes find it difficult to understand the relationship among the different budgets. Assigning an exercise that requires students to prepare all budgets and then reviewing the budgets in class helps students better understand and relate to the concepts in this chapter. Budgets usually cover a specific period of time, such as a month, quarter, or year. The most common budget is a one–year budget, which may then be subdivided into monthly and quarterly segments. Preparation of a budget typically begins with an estimate of revenues and ends with the budgeted income statement. A common nine–step approach to developing an operating budget and supporting schedules is as follows: 1. Prepare the revenues budget. 2. Prepare the production budget. 3. Prepare the direct materials
  • 2. usage and purchases budgets. 4. Prepare the direct manufacturing labor budget. 5. Prepare the manufacturing overhead budget. 6. Prepare the ending inventories budget. 7. Prepare the cost of goods sold budget. 8. Prepare the nonmanufacturing costs budget. 9. Prepare the budgeted income statement. (Exhibit 6–2 provides an overview of the budgeting process .) (Exhibits 6–5 through 6–8 display sample budget reports.) Do Chapter Quizzes Get more content on HelpWriting.net
  • 3. Master In Public Health Master in Public Health with a Specialization in Environmental and Occupational Health Just a couple months I lost sight of all the things I hoped to accomplish as a public health professional. Recently, my family had suffered the loss of my grandmother. A month later my mother unexpectedly passed away. Losing my grandmother was hard but losing my mother was tragic. Everything I once knew to be true was gone. At that time, I began to turn my back on my hope for the future. My mother played a great role in my life. A significant role that no amount of money or time afforded would be enough to show my appreciation. My mother would shine brightest in moments like this when I felt lost and confused. She would breathe confidence and reassure me ...show more content... As the CDC states simply "Public health connects us all", years past, present and future. Public health is an all–encompassing field that does not just merely concern itself with diagnosing and treating patients. It observes, studies, researches, and mitigates the cause and effect relationships we have within our environments as well as the rest of the world. It is a field devoted to improving the lives of all. I have developed a passion and appreciation for public health because it does not merely observe end results and compute them into statistics, but reaches back in time to understand how and why. Coming from a single parent household, of a low economic status I was affected by what we as public health professionals understand to be the social determinants of health. I myself did not realize that these "determinants" existed in my personal life, nor did I understand the way they shaped the lives of everyone. Public health has played a vital role in my life since I can remember. From getting my vaccinations at the health department as a child, to the implantation of sidewalks in my neighborhood, to the banning of cigarette smoke in restaurants, to the seatbelt campaign "click it or ticket", to the free HIV education and testing offered on my college campus. Public health is fascinating and I would be honored to give to others what was so freely given to Get more content on HelpWriting.net
  • 4. I Am A Graduate Student Essay As the fall semester is quickly winding down, I often catch myself reflecting on the fact that I will be completing my second semester as a graduate student. It certainly still is a surreal feeling for myself. I cannot even fathom the fact that I will be able to say that I have gotten through two semesters of graduate school. The reason I bring this up is because when I first started the graduate program, I would often wonder whether I belonged in graduate school. There was a sense of self–doubt. Therefore, I had trouble believing that I was worthy of being in this program. And, as ignorant as it may sound, I attributed my acceptance into the program to luck and fate. I believe one major reason for feeling that way is due to the fact that I am the first one in my family to attend college, so I felt incapable of achieving something that had never been done in my family. Furthermore, self–reflection allows for me to reflect back on my collegiate journey and reminisce on my own personal obstacles and challenges that I have dealt with. It also allows for me to be a more effective mentor. I see myself as a mentor who is empathic and understanding of those students who are also first–generation college students who may be experiencing similar issues. Not necessarily only being able to be an effective mentor when working with first generations students, rather learning new perspectives and understanding different cultural norms that can further assist me as I continue to develop Get more content on HelpWriting.net
  • 5. English Master Goal The goal I would like to achieve with my English master's degree is to seek a teacher position that will be fully utilized in order to provide students with a positive learning experience. By using this degree, I want to lead by example to my peers and to the young generation. I want to show everyone that anything is possible once you apply yourself. This is what I want to apply to my pedagogy. Once I received my degree, I envision myself as a teacher that has purpose and diligence. I want to show my students that learning can be fun and educational. I plan on doing so by providing a positive teaching experience for my students. I want to show my students that I am passionate to provide them the best education possible. I want to push my Get more content on HelpWriting.net
  • 6. I Am My Master 's Degree Essay Going back to get my master's degree was a tough decision for me. I always used to say I was not going to get my master's degree because there was no reason to get it, especially seeing, as I wanted to be a flight nurse for a local medical helicopter. However, thinking about it a little more I realized I might want to teach later on in my career. I did not want to have to go back to school later on. At this point in my life, it was a good time to go back to school, I do not have any kids, and my schedule is not that busy. I decided to pursue the generalist track because I am not one hundred percent sure what I want to do further on in my career. I like the idea that if I do decide later on that I want to teach I can go back and take a few classes and get my certificate in education. Being on the generalist track keeps more options open for me later on in my career. At a master's degree level "outcome goals... include reading the nursing and health care literature, critically appraising evidence as a basis for practice decisions, and applying it to patient care to make care decisions with the best information available" (Kim & Hayat, 2015, p. 144). Being a master's prepared nurse will allow me to give the patients I am taking care of better quality care Examples There are multiple examples of the contribution that nurses with master's degree have in the health care field. There are not many nurses out there that have his or her master's degree that have studied on the Get more content on HelpWriting.net
  • 7. Masters Reflection Before taking this class, I had planned on continuing my education and starting my Master's degree in the fall of 2016. I was going to pursue a degree in Healthcare Administration. However, after taking this class I am unsure if I want to pursue my Master's. I am very grateful that next quarter is my last leg of my undergraduate career. It has taken me a very long time to get here. As for my future, I will be indulging in a little bit of self–evaluation and determining if my future is what I planned on it being when I started this journey years ago. I felt that I struggled with the terms of this class immensely. I have taken other online classes and have never felt this much pressure or frustration. Unfortunately, I have never been a Get more content on HelpWriting.net