Accounting Foundations

Growing companies don't have a long history to guide management decisions. But they can't go on reacting to one crisis after another without a plan. Such companies need to harness the power of budgeting to identify and solve problems on paper before they arise in the real world.

This course covers purchase budgets, production budgets, hiring budgets, overhead budgets, and cash budgets. Professors Jim and Kay Stice help you weigh the impact of strict versus more moderate budgeting on employee morale, and show how budgets pay off in the future, when you can use them to evaluate your business performance. Topics include:

• Understanding the budgeting process
• Involving other people
• Creating a manufacturing budget
• Budgeting for merchandising and service firms
• Budgeting cash flow
• Using a flexible budget