COMMERCE 2AB3 Chapter Notes - Chapter 10: Root Mean Square, Full-Time Equivalent, Main Source
15 Mar 2017
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Document Summary
Budget: a formal written statement, in nancial terms, of management"s plans for a speci ed future time period. Budgetary slack: the amount by which a manager intentionally underestimates budgeted revenues or overestimates budgeted expenses in order to make it easier to achieve budgetary goals. Budget committee: a group responsible for coordinating the preparation of the budget. Budgeted balance sheet: a projection of the company"s nancial position at the end of the budget period. Budgeted income statement: an estimate of the expected pro tability of operations for the budget period. Cash budget: a projection of expected cash ows. Direct labour budget: a projection of the quantity and cost of direct labour to be incurred to meet production requirements. Direct materials budget: an estimate of the quantity and cost of direct materials to be purchased. Financial budgets: individual budget that indicate the cash resources that are needed for expected operations and planned capital expenditures.
