ACC 556 Assignment 2: Budget Planning and
Control
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Due Week 10 and worth
160 points
Use the Internet and /
or Strayer databases to research budget planning and control. Imagine that the
company that you currently work for, have previously worked for, or would like
to work for in the future has tasked you with preparing a budget plan.
Write a three to four
(3-4) page paper in which you:
1. Describe the
company that you currently work for, have previously worked for, or would like
to work for in the future. Determine at least two (2) compelling reasons that
this company should prepare and manage a budget. Predict the two (2) most
likely positive and negative financial outcomes for this company if it properly
or improperly performs effective budgeting.
2. Outline a
high-level budget plan for the company. In your high-level budget plan, recommend
the most appropriate budgeting phases for the company.
3. Propose two (2)
methods and techniques that the company should use to manage its budget over
time in preparation for the fact that budgets are ever changing. Justify your
response.
4. Imagine that the
company is facing a financial challenge that is causing the actual amounts of
money that it spends to become significantly off target from its budgeted
amounts. Prepare an action plan to resolve the budget misalignment. In your
action plan, recommend at least one (1) budgeting technique to resolve the
budget and actual discrepancies. Provide a rationale for your response.
5. Use at least three
(3) quality academic resources in this assignment.Note:Wikipedia and other
Websites do not quality as academic resources.
Your assignment must
follow these formatting requirements:
·
Be typed, double spaced, using Times New Roman font (size 12),
with one-inch margins on all sides; references must follow APA or
school-specific format. Check with your professor for any additional
instructions.
·
Include a cover page containing the title of the assignment, the
student’s name, the professor’s name, the course title, and the date. The cover
page and the reference page are not included in the required page length.
The specific course
learning outcomes associated with this assignment are:
·
Evaluate management control systems and examine their
relationship with accounting and planning, including feedback and non-financial
performance measurements.
·
Evaluate decision making tools for capital investments,
budgeting, and budgeting controls.
·
Analyze financial accounting tools and techniques that convert
financial accounting data into information for decision making.
·
Use technology and information resources to research issues in
financial accounting for managers.
·
Write clearly and concisely about financial accounting using
proper writing mechanics.
Grading for this
assignment will be based on answer quality, logic / organization of the paper,
and language and writing skills, using this rubric.
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