BUS 630 Week 4 Written Assignment Case 6B (Chester & Wayne)
In this case, you have been provided financial information about the company in order to create a cash budget. Management is seeking advice or clarification on three main assumptions the company has been operating. Address Questions 1 and 2 at the end of the case. Based on the case questions, you are require to provide a two to four double-spaced written report providing the necessary advice and explanations to management. The written report should be properly format according to APA guidelines and demonstrate research and critical thinking skills. Conclusions and recommendations should be …..by at least 2 scholarly sources from the Library or other external sources, excluding the textbook…………..Continued
BUS 630 Week 4 Discussion 1, Budgeting Comments
(Exercise 6-13 – Revised) Select one of the following quotes from the text to discuss. Clearly state whether you either agree or disagree with the comment and support your opinion with at least one scholarly resource. Include in your response an explanation of the major purposes of budgeting.
“One major criticism of budgeting is that it is used as a ‘cost reduction’ tool rather than a ‘cost control’ tool. The objective of the budget is to control costs at an efficient level of operation.”
“There are generally three benefits from allowing employees to participate in developing the budget: (1) Employees tend to accept the budget as their own plan of action. (2) Participation tends to increase morale among employees and toward management. (3) Employee cohesiveness is ….., and productivity will also increase if dictated by the group norm.”
“Even though budgets are quantitative tools, considerable emotion is …..to budgeting. The individual in control often sees the budget as a means of getting things…… People being ……often have feelings of anxiety because their success and promotion are …..directly to the budget.”
BUS630 Week 4 Discussion 2, Standard Cost System
Using Chapter 7 of your text as a reference, define a standard cost and explain what constitutes the components of a standard cost. Describe the advantages and disadvantages of a standard cost system and explain under what circumstances a standard cost system is most effective. Your initial post should be 200-250 words.