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19 Mar 2018

A The key characteristics of an effective budget system. B Thesteps to prepare a master budget. C How a flexible budget willassist management in evaluating performance at the end of anaccounting period. D)Demonstrates how budgeting assists Ford’smanagement in making critical long-term and short-term decisions.E) Discusses the impact of Ford’s decisions to eliminate cars.

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Casey Durgan
Casey DurganLv2
20 Mar 2018

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In Milestone 4, after you reviewed the economic and industryprojections for the upcoming year relating to the master budget,you are now asked to make some predictions about the projectedbalances sheet and statement of cash flow ending balances. At theconclusion of this case, there are some links to sources that willassist you as you put yourself in the position of management at theend of 2016 trying to plan for 2017. Begin with the prior year’sStatement of Cash Flow and Balance Sheet. Then identify majorchanges that you would expect for only for the automotive divisionoperating cash flow, investing cash flow and financing cash flowthat might occur by the end of 2017. In Memo #4 you describe yourexpectations related to the Statement of Cash Flow and compare yourexpectations to the actual year ending 2017 Cash Flow Statement. InMemo #5 you describe your expectations related to the Balance Sheetaccounts of the automotive division as of Dec. 31, 2017 and compareyour expectations to the actual year end balances. Identify majorchanges that you would expect for only for the automotive divisionrelating to its major current and long-term assets, current andlong-term liabilities and equity accounts that might occur by theend of 2016. The controller wants you to prepare a memo identifyingthe advantages and disadvantages of benchmarking with majorcompetitors. In Memo #6 you include your research on two of Ford’scompetitors and identify 3 key performance indicators. One of thekey performance indicators should be a non-financial measure. Yourfinal memo, Memo #7 response to the controller who asked you toprovide key points for a presentation he/she will be making to theBoard of Directors. You are asked to identify the following items:a. The key characteristics of an effective budget system. b. Thesteps to prepare a master budget. c. Describe a flexible budget andexplain how it assists management in evaluating performance at theend of an accounting year.

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