ACC 312 Midterm: Distribution and administration budget
Document Summary
Research and development and also planned capital expenditure are provided by managers responsible for such departments as: Costs of financing and/or interest receivable from the investment of surplus funds may be estimated for the first draft budget. As the phased profit and loss account, capital expenditure and cash budget become finalised the financial budget can be refined with a little more accuracy. The master budget is prepared by pulling together each of the elements outlined above to provide a budgeted: Profit and loss account for the year. Padding may occur where budget holders are allowed to be excessively prudent regarding costs and expenses or achievement of sales. Managers may be prudent when constructing their budgets, and this can take the form of putting a little extra into expense categories that may be difficult to verify, or a little less in certain categories or sales. The budget preparation process is a continuous process of:
