成本与管理会计（第15版） 课件 GE-hca15-ch06

CHAPTER6MasterBudgetandResponsibilityAccountingCHAPTER6LEARNINGOBJECTIVESDescribethemasterbudgetandexplainitsbenefitsDescribetheadvantagesofbudgetsPreparetheoperatingbudgetanditssupportingschedulesUsecomputer-basedfinancialplanningmodelsforsensitivityanalysisDescriberesponsibilitycentersandresponsibilityaccounting6-2Chapter6learningobjectives,concludedRecognizethehumanaspectsofbudgetingAppreciatethespecialchallengesofbudgetinginmultinationalcompanies6-3BudgetDefinedAbudgetisthequantitativeexpressionofaproposedplanofactionbymanagementforaspecifiedperiod.Abudgetisanaidtocoordinatingwhatneedstobedonetoimplementthatplan.Abudgetgenerallyincludesboththeplan’sfinancialandnonfinancialaspectsandservesasablueprintforthecompanytofollowinanupcomingperiod.6-4Budgetshelpmanagers….Communicatedirectionsandgoalstodifferentdepartmentsofacompanytohelpthemcoordinatetheactionstheymustpursuetosatisfycustomersandsucceedinthemarketplace.Judgeperformancebymeasuringfinancialresultsagainstplannedobjectives,activities,andtimelinestolearnaboutpotentialproblems.Motivateemployeestoachievetheirgoals.6-5Strategicplansand

operatingplansTodevelopsuccessfulstrategies,managersmustconsiderquestionssuchasthefollowing:Whatareourobjectives?Howdowecreatevalueforourcustomerswhiledistinguishingourselvesfromourcompetitors?Arethemarketsforourproductslocal,regional,nationalorglobal?Whattrendsaffectourmarkets?Whatorganizationalandfinancialstructuresserveusbest?Whatarerisksandopportunitiesofalternativestrategiesandwhatareourcontingencyplansifourpreferredplanfails?6-6Budgetingcycle:Beforethestartofafiscalyear,managersatalllevelstakeintoaccountpastperformance,marketfeedback,anticipatedfuturechangesandotherindicatorstoinitiateplansforthenextperiod.Seniormanagersgivesubordinatemanagersaframeofreferenceagainstwhichtheywillcompareactualresults.Managersandmanagementaccountantsinvestigateanydeviationsfromtheplan.6-7Workingdocument:

MasterBudgetThemasterbudgetisatthecoreofthebudgetingprocess.Itexpressesmanagement’soperatingandfinancialplansforaspecifiedperiod:Operatingdecisionsdealwithhowtobestusethelimitedresourcesofanorganization.(theoperatingbudget)Financialdecisionsdealwithhowtoobtainthefundstoacquirethoseresources.(thefinancialbudget)6-8AdvantagesofBudgetsPromotescoordinationandcommunicationamongsubunitswithinthecompany.Providesaframeworkforjudgingperformanceandfacilitatinglearning.Motivatesmanagersandotheremployees.6-9ChallengesinadministeringabudgetTopmanagerswantlower-levelmanagerstoparticipateinthebudgetingprocessbecausetheyhavemorespecializedknowledgeofday-to-daymanagement,however…Thebudgetingprocessistime-consuming,andUpper-levelmanagement’ssupportiscrucial6-10TimecoverageofbudgetsThetimelineforabudgetisdependentonthemotiveforcreatingthebudget.Themostfrequentlyusedbudgetperiodis1year.Businessesmayalsousearollingbudget.Thisbudgetisalwaysavailableforaspecifiedfutureperiod,bycontinuallyaddingamonth,quarter,oryeartotheperiodjustended.6-11Tofacilitatethebudgetprocess,usethe5-stepdecisionmakingprocessIdentifytheproblemanduncertaintiesObtaininformationMakepredictionsaboutthefutureMakedecisionsbychoosingamongalternativesImplementthedecision,evaluateperformanceandlearn6-12BasicOperatingBudgetStepsPreparetherevenuesbudget(schedule1;thestartingpoint)Page206Preparetheproductionbudget(schedule2;inunits).Page207Preparethedirectmaterialsusagebudgetanddirectmaterialspurchasesbudget(schedule3)Pages207and208Preparethedirectmanufacturinglaborbudget(schedule4)Page2086-13BasicOperatingBudgetStepsPreparethemanufacturingoverheadcostsbudget(schedule5)Page210Preparetheendinginventoriesbudget(schedule6A,units;schedule6B,dollars)Pages211and212Preparethecostofgoodssoldbudget(schedule7)Page212Preparetheoperatingexpense(periodcost)budget(schedule8)Page213PreparethebudgetedincomestatementExhibit6-3page213

6-14BasicFinancialBudgetSteps

FromAppendixBasedontheoperatingbudgets:Preparethecapitalexpendituresbudget.Preparethecashbudget.Preparethebudgetedbalancesheet.Preparethebudgetedstatementofcashflows.6-15Overview

ofthe

Master

Budget6-16Financial-planningmodels&sensitivityanalysis:Financialplanningmodelsmaybeemployedtoconductsensitivity(“what-if”)analysistoassistinthebudgetaryprocess.A“what-if”analysisorsensitivityanalysisisatechniquethatexamineshowaresultwillchangeiftheoriginalpredicteddataorunderlyingassumptionchange.6-17SensitivityAnalysisSensitivityanalysisisusedtoassistmanagersinplanningandbudgeting.Sensitivityanalysisisa“whatif”techniquethatillustratestheimpactofchangesfromthepredicteddata.TwoscenariosarebeingconsideredforStylisticFurniture’s(thecompanyfromthetextbook)budget.6-18BudgetingandResponsibilityAccountingResponsibilitycenter—apart,segment,orsubunitofanorganizationwhosemanagerisaccountableforaspecifiedsetofactivities.Responsibilityaccounting—asystemthatmeasurestheplans,budgets,actions,andactualresultsofeachresponsibilitycenter.Generally,weconsider4levelsofresponsibilitycenter.6-19TypesofResponsibilityCentersCost—accountableforcostsonlyRevenue—accountableforrevenuesonlyProfit—accountableforrevenuesandcostsInvestment—accountableforinvestments,revenues,andcosts6-20BudgetsandFeedbackBudgetsofferfeedbackintheformofvariances:actualresultsdeviatefrombudgetedtargets.Variancesprovidemanagerswith:EarlywarningofproblemsAbasisforperformanceevaluationAbasisforstrategyevaluation6-21Responsibility&ControllabilityControllabilityisthedegreeofinfluencethatamanagerhasovercosts,revenues,orrelateditemsforwhichheorsheisbeingheldresponsible.Responsibilityaccountinghelpsmanagerstofirstfocusonwhomtheyshouldasktoobtaininformationandnotonwhomtheyshouldblame.Responsibilityaccountingfocusesongaininginformationandknowledge,notonlyoncontrol.Thefundamentalpurposeofresponsibilityaccountingistoenablefutureimprovement.6-22HumanaspectsofbudgetingBudgetaryslackisthepracticeofunderestimatingbudgetedrevenuesoroverestimatingbudgetedcoststomakebudgetedtargetseasiertoachieve.Stretchtargetsaretargetsthatarechallengingbutachievabletofocuseffortonachievingthetargets.KaizenBudgetingisapracticewherebyeachbudgetprocessincorporatescontinuousimprovementfrompastresults.6-23BudgetinginmultinationalcompaniesInternationalcompaniesfacesignificantexchangerateuncertaintyrenderingbudgetsfortraditionalpurposesofevaluatingafirm’sperformancemootbutstill