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and
Responsibility Accounting
Budget Defined
The quantitative expression of a proposed
Advantages of Budgets
Provides a framework for judging performance
Motivates managers and other employees
Promotes coordination and communication
Components of Master
Budgets
budget.
Prepare the
Prepare the
Prepare the
budget.
Prepare the
Sample
Master
Budget,
Illustrated
Sensitivity Analysis
Sensitivity analysis is used to assist managers in
Types of Responsibility
Centers
1. Costaccountable for costs only
Controllability
Controllability is the degree of influence that a
Budgetary Slack
The practice of underestimating budgeted