BEC Strategic Planning review 2

an operating budget forecasts income predicts sales volume as well as estimates cost of goods sold and operating expenses.

an operating budget forecasts income predicts sales volume as well as estimates cost of goods sold and operating expenses.

A financial budget forecasts the flow of cash and other funds in the business and charts the expected balance sheet for the end of the planning period.

A financial budget forecasts the flow of cash and other funds in the business and charts the expected balance sheet for the end of the planning period.

a Capital Expenditures budget summarizes expenditures for individual capital projects.

a Capital Expenditures budget summarizes expenditures for individual capital projects.

a flexible budget does not confine itself to one activity level but rather aims toward an activity range.

a flexible budget does not confine itself to one activity level but rather aims toward an activity range.

responsibility accounting systems recognize various decision centers throughout an organization and trace costs to the individual managers who are primarily responsible for the costs in question.

responsibility accounting systems recognize various decision centers throughout an organization and trace costs to the individual managers who are primarily responsible for the costs in question.