Assignment:
Have you ever been involved in the budget process at your organization? Describe your role and responsibilities. If you’ve never been involved in the budget process at your organization, discuss why (or why not) you would want to be responsible for the budget.
after submitting part 1
part 2 i will need from the expert 2 replies each reply 100 words for 2 discussions that i will send after submitting part one
I need same expert with my assignments Katie
Module 6: Budgeting - Part I ContentMod 6: For Your Success Learning OutcomesIdentify the elements of the master budget. Prepare a master budget. Mod 6: Readings RequiredChapter 6 in Managerial AccountingModule 6: Budgeting – Part I Table of Contentshttps://seu-online.blackboard.com/bbcswebdav/pid-1577279-dt-content-rid-8329000_2/courses/ACT-500-11537-201410/courseModules/Module_6/ACT500_6.htmlPurpose of the Budgethttps://seu-online.blackboard.com/bbcswebdav/pid-1577279-dt-content-rid-8329000_2/courses/ACT-500-11537-201410/courseModules/Module_6/ACT500_6.htmlComponents of the Master Budgethttps://seu-online.blackboard.com/bbcswebdav/pid-1577279-dt-content-rid-8329000_2/courses/ACT-500-11537-201410/courseModules/Module_6/ACT500_6.htmlView All ContentI. Purpose of the BudgetA company’s budget is its strategic plan set to numbers and goals. Long-term strategic goals set specific tactical targets and timetables assigning responsibilities for achieving the goals to specific managers. The long-term goals include profit projections that must be achieved through implementing strategies that will utilize resources. The budget communicates the expected resources that will be used and the expected profit that will be attained by implementing the strategic plan of the organization. For example, if the vice president of marketing is charged with achieving a 10% market share increase in five years, she must build a budget with expenses and revenues that will achieve an increase in market share.The budgeting process, if implemented successfully, involves all functional area managers in the organization. Since managers are responsible for their budgets, it is essential that they are involved in the development of the budget. If managers feel they have a voice in setting the budget targets, they will be motivated to ensure that their departments attain those targets and stay within the budget. If senior executives develop the budget without...
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