-
budget
An accounting device used to plan and control resources of operational departments and divisions.
-
budgetary slack
Excess resources set within a budget to provide for uncertain events.
-
capital expenditures budget
The budget summarizing future plans for acquiring plant facilities and equipment.
-
cash budget
A budget of estimated cash receipts and payments.
-
continuous budgeting
A method of budgeting that provides for maintaining a 12-month projection into the future.
-
cost of goods sold budget
A budget of the estimated direct materials, direct labor, and factory overhead consumed by sold products.
-
direct labor cost budget
Budget that estimates direct labor hours and related costs needed to support budgeted production.
-
direct materials purchases budget
A budget that uses the production budget as a starting point to budget materials purchases.
-
factory overhead cost budget
Budget that estimates the cost for each item of factory overhead needed to support budgeted production.
-
flexible budget
A budget that adjusts for varying rates of activity.
-
goal conflict
A condition that occurs when individual objectives conflict with organizational objectives.
-
master budget
The comprehensive budget plan linking all the individual budgets related to sales, cost of goods sold, operating expenses, projects, capital expenditures, and cash.
-
production budget
A budget of estimated unit production.
-
responsibility center
An organizational unit for which a manager is assigned responsibility over costs, revenues, or assets.
-
sales budget
One of the major elements of the income statement budget that indicates the quantity of estimated sales and the expected unit selling price.
-
static budget
A budget that does not adjust to changes in activity levels.
-
zero-based budgeting
A concept of budgeting that requires all levels of management to start from zero and estimate budget data as if there had been no previous activities in their units.
|
|
