This chapter shows how a short-term operating budget is established and how it fits into the overall plan for achieving organization goals. You will also learn how ethical issues affect the budgeting and performance evaluation process. | Profit Planning and Budgeting CHAPTER 9 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. PowerPoint Presentation by LuAnn Bean Professor of Accounting Florida Institute of Technology Managerial Accounting 11E Maher/Stickney/Weil Chapter 9: Profit Planning and Budgeting CHAPTER GOAL This chapter shows how a short-term operating budget is established and how it fits into the overall plan for achieving organization goals. You will also learn how ethical issues affect the budgeting and performance evaluation process. ☼ ☼ This chapter shows how a short-term operating budget (management’s quantitative action plan for the coming year) is established and how it fits into the overall plan for achieving organization goals. You will also learn how ethical issues affect the . | Profit Planning and Budgeting CHAPTER 9 © 2012 Cengage Learning. All Rights Reserved. May not be copied, scanned, or duplicated, in whole or in part, except for use as permitted in a license distributed with a certain product or service or otherwise on a password-protected website for classroom use. PowerPoint Presentation by LuAnn Bean Professor of Accounting Florida Institute of Technology Managerial Accounting 11E Maher/Stickney/Weil Chapter 9: Profit Planning and Budgeting CHAPTER GOAL This chapter shows how a short-term operating budget is established and how it fits into the overall plan for achieving organization goals. You will also learn how ethical issues affect the budgeting and performance evaluation process. ☼ ☼ This chapter shows how a short-term operating budget (management’s quantitative action plan for the coming year) is established and how it fits into the overall plan for achieving organization goals. You will also learn how ethical issues affect the budgeting and performance evaluation process. BUDGET: Definition Is a plan of the resources needed to carry out tasks and meet financial goals. LO 1 A budget is a plan of the resources needed to carry out tasks and meet financial goals. STRATEGIC PLANNING Companies start the strategic planning process by stating their critical success factors, that is the most important things the company must do for success. Companies build on critical success factors to expand operations. LO 1 Companies generally start the strategic planning process by stating their critical success factors, which are the most important things for the company to do to be successful. Companies build on these critical success factors to expand operations. MASTER BUDGET A master budget is part of the overall organization plan for the next year and includes: Organizational goals Strategic long-range profit plan Master budget (a tactical short-range profit plan) LO 1 A master budget is part of an overall .
