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• Front Matter
• Dedication
• About the Authors
• Preface
• CHAPTER 1 The What and Why of Budgeting: An Introduction
• EXHIBIT 1.1 Budget Segments
• Planning
• Types of Budgets
• Master Budget
• Operating and Financial Budgets
• Cash Budget
• Static (Fixed) Budget
• Flexible (Expense) Budget
• Capital Expenditure Budget
• Budgeting in Action
• Need for Flexible Budgets
• Program Budget
• Incremental Budget
• Add-On Budget
• Supplemental Budget
• Bracket Budget
• Stretch Budget
• Strategic Budget
• Activity-Based Budget
• Target Budget
• Rolling (Continuous) Budget
• Probabilistic Budget
• Budgetary Process
• Bottom-Up versus Top-Down
• Budget Coordination
• Departmental Budgeting
• Actual Costs versus Budget Costs
• Budget Revision
• EXHIBIT 1.2 Statement of Revenue and Expense by Product for the Year Ended 2X12
• EXHIBIT 1.3 XYZ Company Divisional Performance Evaluation December 31, 2X12
• Budget Weaknesses
• Budgetary Control and Audit
• EXHIBIT 1.4 Budget Control Report
• Computer Applications
• EXHIBIT 1.5 Budgeting Control Process
• Motivation
• Advantages and Disadvantages of Budgets
• Budgetary Slack: Padding the Budget
• Budgeting in Action
• Budgeting Tied to Compensation
• Summary
• CHAPTER 2 Strategic Planning and Budgeting: Process, Preparation, and Control
• Budgeting
• EXHIBIT 2.1 Strategic Planning Process
• Example 1
• EXHIBIT 2.2 XYZ Company Department Budget Report
• EXHIBIT 2.3 A Budgetary Checklist
• Strategic Planning
• Short-Term Plans
• Long-Term Plans
• EXHIBIT 2.4 Long-Term Plan
• Choosing a Budget Period
• Administering the Plan
• Profit Plan
• Operational Plan
• Development Plan
• Contingency Planning
• Budget Process
• Departmental Budgets
• Budget Accuracy
• Example 2
• Reports
• Budget Revision
• EXHIBIT 2.5 Manufacturing Cost Analysis
• Performance Measures
• Control and Analysis
• Summary
• CHAPTER 3 Administering the Budget: Reports, Analyses, and Evaluations
• Types of Reports
• EXHIBIT 3.1 Budget Worksheet
• Periodic Reports
• Advance Reports
• Special Reports
• EXHIBIT 3.2 Summary of Department Performance
• Budget Manual
• Budget Sheet
• EXHIBIT 3.3 Budget Data Sheet
• Performance Reports
• Budget Audit
• EXHIBIT 3.4 Performance-to-Budget Report
• The Budget Committee
• Budget Calendar
• EXHIBIT 3.5 ABC Company Budget Preparation Calendar Fiscal 2X13
• CHAPTER 4 Break-Even and Contribution Margin Analysis: Profit, Cost, and Volume Changes
• Questions Answered by Break-Even and Contribution Margin Analysis
• Applications of the CVP Model
• Contribution Margin Income Statement
• Contribution Margin
• Contribution Margin (CM)
• Unit CM
• CM Ratio
• Example 1
• Break-Even Analysis
• Example 2
• Graphical Approach in a Spreadsheet Format
• EXHIBIT 4.1 Break-Even Chart
• EXHIBIT 4.2 Profit-Volume (P-V) Chart
• Determination of Target Income Volume
• Example 3
• Impact of Income Taxes
• Example 4
• Margin of Safety
• Example 5
• Some Applications of Contribution Margin Analysis and What-If Analysis
• Example 6
• Example 7
• Example 8
• Example 9
• Example 10
• Sales Mix Analysis
• Example 11
• Example 12
• Example 13
• Example 14 (Sales Mix Analysis for Service Organizations)
• Contribution Margin Analysis and Nonprofit Organizations
• Example 15
• CVP Analysis with Step-Function Costs
• Example 16
• Importance of Identifying Variable and Fixed Costs—CVP-Based Strategies
• CVP Analysis under Uncertainty
• Assumptions Underlying Break-Even Contribution Margin Analysis
• Summary
• CHAPTER 5 Profit Planning: Targeting and Reaching Achievable Goals
• Goal Congruence
• Profit Targets
• Objectives in the Profit Plan
• Role of Nonfinancial Managers
• Assumptions
• Alternatives
• Responsibility
• Participation
• Subordinates
• Coordination
• Scheduling
• Problems
• Control, Evaluation, and Analysis
• Internal Controls
• Real-Life Illustrations in Profit Planning
• EXHIBIT 5.1 Profit Plan
• Summary
• CHAPTER 6 Master Budget: Genesis of Financial Forecasting and Profit Planning
• Comprehensive Sales Planning
• EXHIBIT 6.1 Master Budget
• Sales Planning Compared with Forecasting
• Testing the Top Line
• Example 1
• Sales Budget
• Schedule 1
• Monthly Cash Collections from Customers
• Production Budget
• Schedule 2
• Inventory Purchases, Merchandising Firm
• Direct Material Budget
• Schedule 3
• Direct Labor Budget
• Schedule 4
• Factory Overhead Budget
• Schedule 5
• Ending Finished Goods Inventory Budget
• Schedule 6
• The Cost of Goods Sold Budget
• Schedule 7
• Selling and Administrative Expense Budget
• Schedule 8
• Cash Budget
• Schedule 9
• Budgeted Income Statement
• Schedule 10
• Budgeted Balance Sheet
• Schedule 11
• Some Financial Calculations
• Using an Electronic Spreadsheet to Develop a Budget Plan
• Financial Forecasting: The Percent-of-Sales Method
• Example 2
• Schedule 12
• Pro Forma Balance Sheet in Millions of Dollars
• Summary
• CHAPTER 7 Cost Behavior: Emphasis on Flexible Budgets
• A Look at Costs by Behavior
• Variable Costs
• Fixed Costs
• Mixed (Semivariable) Costs
• EXHIBIT 7.1 Cost Behavior Patterns
• Analysis of Mixed (Semivariable) Costs
• High-Low Method
• Example 1
• EXHIBIT 7.2 Direct Labor/Factory Overhead Table
• Regression Analysis
• EXHIBIT 7.3 Summary Output
• Example 2
• Fixed Budgets versus Flexible Budgets and Performance Reports
• Example 3
• Example 4 (Budgeting for a Health Care Provider)
• EXHIBIT 7.4 X-Ray Unit Medical Service Corporation Performance Report, Static Budget May 2X12
• EXHIBIT 7.5 X-Ray Unit Medical Service Corporation Flexible Budget, May 2X12
• EXHIBIT 7.6 X-Ray Unit Medical Service Corporation Performance Report, Flexible Budget May 2X12
• Budgeting in Action
• Hospitals Turn to Flexible Budgets
• Summary
• CHAPTER 8 Evaluating Performance: The Use of Variance Analysis
• Usefulness of Variance Analysis
• Advantages of Standards and Variances
• Standard Setting
• Types of Standards
• Planning Variance
• Sales Variances
• Example 1
• Cost Variances
• Material Variances
• Example 2
• Example 3
• EXHIBIT 8.1 Details of Material Price Variance
• Illustration of How Inflationary Cost Increases May Be Isolated from the Material Price Variance
• EXHIBIT 8.2 Daily Material Usage Report
• EXHIBIT 8.3 Monthly Material Variance Report
• Labor Variances
• Example 4
• EXHIBIT 8.4 Daily Labor Mix Report
• EXHIBIT 8.5 Labor Performance Report
• EXHIBIT 8.6 Labor Efficiency by Week
• Overhead Variances
• Variable Overhead Variances
• Example 5
• Fixed Overhead Variances
• Example 6
• Variances for Total Overhead
• One-Way Method
• Total Overhead Variance
• Two-Way Method
• Controllable Variance
• Volume (Production) Variance
• Possible Reasons for a Recurring Unfavorable Overhead Volume Variance
• Three-Way Method
• Spending Variance
• Efficiency Variance
• Volume (Production) Variance
• Example 7
• Example 8
• Interrelationship of Variances
• Mix and Yield Variances for Material and Labor
• Material and Labor Mix Variances
• Formulas
• Material and Labor Yield Variances
• Formulas
• Probable Causes of Unfavorable Mix Variances
• Probable Causes of Unfavorable Yield Variances
• Example 9 (Mix Variances)
• (a) Material Purchase Price Variance
• (b) Material Mix Variance
• (c) Material Quantity Variance
• (d) Labor Rate Variance
• (e) Labor Mix Variance
• (f) Labor Efficiency Variance
• Example 10 (Yield Variances)
• (a) Material Variance
• Material Purchase Price Variance
• Material Quantity Variance
• Material Mix Variance
• Material Yield Variance
• Labor Efficiency Variance
• Labor Yield Variance
• Profit Variance Analysis
• Causes of Profit Variance
• Profit Variance Analysis for a Single Product
• Profit Variance Analysis for Multiple Products
• Example 11 (Profit Variance Analysis)
• Sales Mix Variance
• Sales Quantity Variance
• Example 12 (Sales Mix and Quantity Variances)
• Sales Volume Variance
• Sales Quantity Variance
• Sales Mix Variance
• Nonmanufacturing Activities
• Illustrative Variance Analysis Report for a Service Business
• Variances to Evaluate Marketing Effort
• Variances in Selling Expenses
• Sales Personnel Performance
• Illustrative Marketing Performance Report
• How to Analyze Salesperson Variances
• Example 13
• Example 14
• Variances in Warehousing Costs
• Example 15
• Variances in Administrative Expenses
• Capital Expenditures
• Variance Analysis Reports
• Appraisal of Marketing Department
• Summary
• CHAPTER 9 Manufacturing Costs: Sales Forecasts and Realistic Budgets
• EXHIBIT 9.1 Sales Budget/Production Budget Diagram
• Illustration
• Sales Budget
• Example 1
• Production Budget
• Example 2
• Direct Material Budget
• Example 3
• Direct Labor Budget
• Example 4
• Factory Overhead Budget
• Example 5
• Planning and Control of Material Purchases and Usage
• Materials Budgets
• Budgeting Individual Items of Material
• Budget Based on Production Factors
• Example 6
• EXHIBIT 9.2 Materials Purchase Budget—Standard Unit Information by Month
• Materials Purchase Budget Illustrated
• EXHIBIT 9.3 Materials Purchase Budget—Unit Information for Items
• EXHIBIT 9.4 Materials Purchase Budget—Percentage Distribution Information
• EXHIBIT 9.5 Materials Purchase Budget—Budgeted Production Hours
• EXHIBIT 9.6 Materials Production Budget—Information by Material Class
• Example 7
• Planning and Control of Direct Labor
• Planning and Control of Factory Overhead
• Summary
• CHAPTER 10 Marketing: Budgeting for Sales, Advertising, and Distribution
• EXHIBIT 10.1 Structure of a Sales Division
• Marketing Budgets
• Selling Expenses
• EXHIBIT 10.2 Marketing Division Budget
• EXHIBIT 10.3 Selling Expenses to Sales
• EXHIBIT 10.4 Budgeted Field Selling Expenses June 20X5
• EXHIBIT 10.5 Monthly Performance Report Sales Manager X
• Advertising and Sales Promotion
• EXHIBIT 10.6 General Sales Manager Budget Report
• EXHIBIT 10.7 Sales Engineering Project Budget Report
• Percentage of Sales or Profit
• Unit Sales Method
• Objective-Task Method
• EXHIBIT 10.8 Advertising and Promotion Expense Budget
• EXHIBIT 10.9 Advertising Budget
• EXHIBIT 10.10 Impact of Increased Advertising on Profit
• EXHIBIT 10.11 Budget and Actual Advertising and Sales Promotion
• EXHIBIT 10.12 Sales by Brand
• EXHIBIT 10.13 Analysis of Product Revenue, Southern Territory, June 1–30, 2X13
• Distribution Costs
• EXHIBIT 10.14 Distribution Cost Budget
• Analysis and Evaluation of Distribution Costs
• EXHIBIT 10.15 Project Budget Report
• Control over Distribution Costs
• Packaging
• Travel and Entertainment
• Budget Meetings
• Summary
• CHAPTER 11 Research and Development: Budgets for a Long-Term Plan
• R&D Costs
• R&D Planning
• EXHIBIT 11.1 Product Life Cycle
• Funding Level
• R&D Budget
• Example 1
• Example 2
• Example 3
• Example 4
• Example 5
• Example 6
• Example 7
• Example 8
• Coordination
• Analysis and Evaluation
• Control over R&D
• EXHIBIT 11.2 Project Status Report
• EXHIBIT 11.3 R&D Project Status Report
• EXHIBIT 11.4 Project Status Report
• R&D Risk
• Summary
• CHAPTER 12 General and Administrative Costs: Budgets for Maximum Productivity
• Budget Process
• EXHIBIT 12.1 Department Budget
• Headcount Forecasting
• Headcount Forecast Algorithms
• Analysis and Evaluation
• Cost Control
• Employees
• Summary
• CHAPTER 13 Capital Expenditures: Assets to Be Bought, Sold, and Discarded
• Budget Process
• Authorization of Capital Budget
• EXHIBIT 13.1 ABC Company Annual Capital Budget Requests 2X12
• EXHIBIT 13.2 Capital Expenditure Authorization
• EXHIBIT 13.3 Capital Expenditure Authorization
• EXHIBIT 13.4 Annual Capital Budget Request Form
• Capital Budget Forms
• EXHIBIT 13.5 Preliminary Budget Request Information
• EXHIBIT 13.6 Appropriation Request Form
• Capital Budget
• EXHIBIT 13.7 Preliminary Budget Request Information
• EXHIBIT 13.8 Capital Expenditures Request Form
• EXHIBIT 13.9 Capital Budget Form
• EXHIBIT 13.10 Capital Expenditures Budget for the Year Ended December 31, 2X12
• EXHIBIT 13.11 Capital Expenditures Budget
• EXHIBIT 13.12 Preliminary Capital Budget
• EXHIBIT 13.13 Capital Expenditure Budget
• EXHIBIT 13.14 Capital Expenditure Budget
• EXHIBIT 13.15 Capital Asset Budget Division X
• EXHIBIT 13.16 Budget for Capital Assets
• Capital Expenditure Reports
• EXHIBIT 13.17 Capital Expenditures In-Process Report
• EXHIBIT 13.18 Year-to-Date Comparisons of Budget to Actual Capital Expenditures
• Budget Revisions
• EXHIBIT 13.19 Capital Expenditures Performance Report—Estimated versus Actual
• EXHIBIT 13.20 Capital Expenditures Performance Report Information
• Special Projects
• EXHIBIT 13.21 Capital Expenditures Progress Report
• EXHIBIT 13.22 ABC Manufacturing Company
• EXHIBIT 13.23 Capital Expenditure Projects
• EXHIBIT 13.24 Capital Expenditure Project Status Report
• EXHIBIT 13.25 Capital Expenditure Appropriation Status Report
• EXHIBIT 13.26 Status of Capital Expenditures Appropriated
• Analysis of Capital Projects
• Control over Capital Expenditures
• Summary
• CHAPTER 14 Forecasting and Planning: Reducing Risk in Decision Making
• Who Uses Forecasts?
• EXHIBIT 14.1 Sales Forecast and Managerial Functions
• Forecasting Methods
• EXHIBIT 14.2 Forecasting Methods
• Selection of Forecasting Method
• Qualitative Approach
• Expert Opinions
• Delphi Method
• Sales-Force Polling
• Consumer Surveys
• Common Features and Assumptions Inherent in Forecasting
• Steps in the Forecasting Process
• Summary
• CHAPTER 15 Moving Averages and Smoothing Techniques: Quantitative Forecasting
• Naive Models
• Example 1
• Smoothing Techniques
• Moving Averages
• Example 2
• Case 1
• Case 2
• Advantages and Disadvantages
• Exponential Smoothing
• Model
• Example 3
• Comparison of Actual Sales and Predicted Sales
• Computer and Exponential Smoothing
• EXHIBIT 15.1 Sample Output from Computer Program
• Summary
• CHAPTER 16 Regression Analysis: Popular Sales Forecast System
• Least-Squares Method
• EXHIBIT 16.1 Y and Y′
• Example 1
• EXHIBIT 16.2 Table for Example 1
• Example 2
• A Word of Caution
• EXHIBIT 16.3 Scatter Diagram
• Regression Statistics
• Correlation Coefficient (r) and Coefficient of Determination (R2)
• Example 3
• Example 4
• Standard Error of the Estimate (Se) and Prediction Confidence Interval
• Example 5
• Example 6
• Standard Error of the Regression Coefficient (Sb) and t-Statistic
• Example 7
• Using Regression on Excel
• EXHIBIT 16.4 Excel Regression Input Dialog Screen
• EXHIBIT 16.5 Excel Regression Output
• EXHIBIT 16.6 Minitab Regression Output
• Summary
• CHAPTER 17 Cash Budgeting and Forecasting Cash Flow: Two Pragmatic Methods
• Account Analysis
• Example 1
• Description
• Regression Approach
• EXHIBIT 17.1 Regression Results for Cash Collection (Ct)
• Example 2
• Example 3
• Example 4
• Cash Budget
• EXHIBIT 17.2 Major Cash Flow Components of a Cash Budget
• Cash Variance Analysis
• EXHIBIT 17.3 Monthly Cash Budget
• EXHIBIT 17.4 Cash Budget Variance Analysis
• Example 5
• Cash Flow Software
• EXHIBIT 17.5 Your Company, Inc. Cash Collection on the Year
• A Caveat—Perils of Spreadsheets
• Summary
• CHAPTER 18 Financial Modeling: Tools for Budgeting and Profit Planning
• A Financial Model
• Budgeting and Financial Modeling
• EXHIBIT 18.1 Flowchart of a Simplified Financial Planning Model
• Use of Financial Modeling in Practice
• Developing Financial Models
• Definition of Variables
• EXHIBIT 18.2 Flowchart of Variables in a Corporate Model
• Input Parameter Values
• Model Specification
• Definitional Equations
• Behavioral Equations
• Model Structure
• Decision Rules
• Lagged Model Structure
• EXHIBIT 18.3 Comprehensive Financial Model
• Summary
• CHAPTER 19 Using Software Packages and E-Budgeting: Computer-Based Models, Spreadsheets, and Web-Based Systems
• Use of a Spreadsheet Program for Financial Modeling and Budgeting
• Projecting an Income Statement
• Case 1
• Case 2
• EXHIBIT 19.1 Projected Income Statement
• EXHIBIT 19.2 Projecting Income Statement
• EXHIBIT 19.3 Delta Gamma Company Three-Year Income Projections (2011–2014)
• Budgeting in Action
• Rolling Budget and Sensitivity Analysis
• EXHIBIT 19.4 Budget Assumptions
• Case 3
• Construction of a Rolling Budget
• EXHIBIT 19.5 Company Budget for Period January to December
• EXHIBIT 19.6 Forms of Economic Volatility
• Case 4
• EXHIBIT 19.7 Six-Month Budget (March through August)
• EXHIBIT 19.8 Revised Six-Month Rolling Budget (April through September)
• Probabilistic Budgets
• Budgeting in Action
• Rolling Budget
• Case 5
• EXHIBIT 19.9A Probabilistic Budget (in thousands)
• Budgeting Software Packages
• EXHIBIT 19.9B
• Budget Maestro
• Microsoft Business Solutions for Analytics—Forecaster
• Host Budget
• SAP BusinessObjects Budgeting and Consolidation
• Latest Generation of Budgeting and Planning Software and E-Budgeting
• EXHIBIT 19.10 Popular Budgeting and Planning Software
• Budgeting in Action
• Web-Based Budgeting Comes of Age
• Summary
• CHAPTER 20 Capital Budgeting: Selecting the Optimum Long-Term Investment and Real Options
• Factors to Consider in Determining Capital Expenditures
• Types of Capital Budgeting Decisions to Be Made
• EXHIBIT 20.1 Project Application
• EXHIBIT 20.2 Advice on Project Change
• EXHIBIT 20.3 Appropriation Request
• Accounting (Simple) Rate of Return
• Example 1
• Advantages of ARR
• Disadvantages of ARR
• Payback Period
• Advantages of Payback
• Disadvantages of Payback
• Example 2
• Example 3
• Payback Reciprocal
• Example 4
• Discounted Payback Period
• Example 5
• Net Present Value
• Example 6
• Example 7
• Example 8
• EXHIBIT 20.4 Calculations of Lease and Loan Payments
• Example 9
• Profitability Index
• EXHIBIT 20.5 Buy versus Lease Evaluation Report
• EXHIBIT 20.6 Flowchart of Variables in a Corporate Model
• Example 10
• Example 11
• Example 12
• Contingent Proposals
• Example 13
• Internal Rate of Return (Time-Adjusted Rate of Return)
• Advantages of IRR
• Disadvantages of IRR
• Five Guidelines
• Example 14
• Example 15
• Example 16
• Example 17
• Can a Computer Help?
• Nondiscretionary Projects
• Example 18
• Comparison of Methods
• Example 19
• Capital Budgeting Process
• Example 20
• Real Options
• Example 21
• Example 22
• Discovery-Driven Planning
• Capital Budgeting and Inflation
• Example 23
• Postaudit Project Review
• Capital Budgeting and Nonprofit Organizations
• EXHIBIT 20.7 Quarterly Variance between Budget and Actual Capital Expenditures Report
• Risk and Uncertainty
• Simulation
• Sensitivity Analysis
• Decision Tree
• Advantages
• Disadvantage
• Example 24
• Summary
• CHAPTER 21 Budgeting for Cost Management: Activity-Based Budgeting and Life-Cycle Budgeting
• Activity-Based Budgeting
• EXHIBIT 21.1 Activity-Based Costing versus Activity-Based Budgeting
• EXHIBIT 21.2
• EXHIBIT 21.3
• Activity-Based Management
• Understanding What Causes Costs
• Value-Added and Non–Value-Added Activities
• EXHIBIT 21.4 Activity Categories and Drivers
• Activity Drivers and Categories
• EXHIBIT 21.5 Cost Drivers for Manufacturing and Nonmanufacturing Firms
• EXHIBIT 21.6 Cost Drivers for Marketing Expenses
• Budgeting in Action
• Activity-Based Budgeting
• Life-Cycle Budgeting
• Life-Cycle Costing and Whole-Life Costing
• Cost Reduction
• Whole-Life Product Cost
• Example
• EXHIBIT 21.7 Life-Cycle Costing: Budgeted Costs and Income
• EXHIBIT 21.8 Performance Report: Life-Cycle Costs
• Kaizen Budgeting
• Example
• Budgeting in Action
• Kaizen Budgeting
• Summary
• CHAPTER 22 Zero-Base Budgeting: Priority Budgeting for Best Resource Allocation
• Zero-Base Budgeting Process
• Zero-Base Budgeting Effects
• Activity Units
• Decision Packages
• Ranking Proposals
• EXHIBIT 22.1 Product A—Decision Package
• Example 1
• Project (Program) Budgets
• EXHIBIT 22.2 Work-Authorization Form
• Summary
• CHAPTER 23 Managers’ Performance and Balanced Scorecard: Evaluation at the Division Level
• Appraising Manager Performance
• Importance of Measuring Divisional Managers’ Performance
• Advantages of Decentralization
• Disadvantages of Decentralization
• Responsibility Center
• EXHIBIT 23.1 Responsibility Centers within a Company
• Revenue Center
• EXHIBIT 23.2 Organization Chart of a Company
• EXHIBIT 23.3 Paul Burger’s Responsibility Accounting at Various Levels (in thousands)
• Cost Center
• Example 1
• Profit Center
• EXHIBIT 23.4 Contribution Margin Income Statement for Divisional Performance Evaluation
• Example 2
• Investment Center
• Return on Investment
• Advantages of ROI
• Disadvantages of ROI
• Example 3
• Residual Income
• Example 4
• Advantages of Residual Income
• Disadvantages of Residual Income
• EXHIBIT 23.5 Residual Income Statement for Divisional Evaluation Purposes
• The Balanced Scorecard
• EXHIBIT 23.6 Balanced Scorecard
• EXHIBIT 23.7 Examples of Balanced Scorecard Measures by Industry
• EXHIBIT 23.8 Balanced Scorecard for a Biotechnology Firm
• EXHIBIT 23.9 Balanced Scorecard for a Consumer Products Firm, a Maker of Small Home Appliances
• EXHIBIT 23.10 Balanced Scorecard for a Gasoline Firm
• EXHIBIT 23.11 Balanced Scorecard for a School District
• Applying the Balanced Scorecard to a School District
• Budgeting in Action
• Balanced Scorecard for Nonprofits
• EXHIBIT 23.12 Continuous Learning Process
• Budgeting and the Balanced Scorecard: An Oxiteno Case Study1
• Ranging Process in the Group’s Management
• The Balanced Scorecard Implementation in Oxiteno
• Budgeting and the New Management Model
• EXHIBIT 23.13 Splitting Traditional Budgeting into Scorecards and Forecasting
• Summary
• CHAPTER 24 Budgeting for Service Organizations: Special Features
• Airlines
• Hotels
• EXHIBIT 24.1 Hotel Projected Sales Budget
• EXHIBIT 24.2 Sample Hotel Rate Structure
• Summary
• CHAPTER 25 Budgeting for Nonprofit Organizations: Diverse Types
• Planning
• Funds
• Recordkeeping and Reporting
• Government Budgets and Accounting Bases
• Government Recordkeeping for Budget Accountability
• Government Interfund Transactions
• Capital and Operating Budgets
• Budget Development
• Budgeting Revenue
• Budgeting Expenditures
• Encumbrances
• Budgetary Control
• Variances
• Effectiveness and Control Measures
• Organizational Structure
• Functional or Program Reporting
• Budget Adaptability
• Budget Participants
• Budgeting in Action
• State Budget Deficit
• Budgeting Aspects for Specific Nonprofits
• Voluntary Hospitals
• EXHIBIT 25.1 Flexible Budget
• Colleges and Universities
• EXHIBIT 25.2 A Comparison of Fund Groups
• Professional Associations
• EXHIBIT 25.3 Budgeted Revenue and Costs for a Nonprofit Professional Association
• Summary
• CHAPTER 26 Using Management Games for Executive Training
• The Capstone Business Simulation1
• Why Use a Simulator?
• Business Scenario
• EXHIBIT 26.1 Round 0 Financial Statistics
• Planning: Long-Range and Short-Term
• EXHIBIT 26.2 Round 0 Company Income Statement
• EXHIBIT 26.3 Success Measure Student Input Screen
• Tactical Decisions
• EXHIBIT 26.4 Capstone.xls R&D Decision Input Screen
• EXHIBIT 26.5 Capstone.xls Marketing Decision Input Screen
• EXHIBIT 26.6 Capstone.xls Production Decision Input Screen
• EXHIBIT 26.7 Capstone.xls Finance Decision Input Screen
• Pro Formas: Evaluating Alternative Scenarios
• EXHIBIT 26.8 Capstone.xls Pro Forma Ratio Report
• EXHIBIT 26.9 Capstone.xls Pro Forma Income Statement
• EXHIBIT 26.10 Capstone.xls Pro Forma Cash Flow Statement
• Analysis, Coaching, and Benchmarking
• EXHIBIT 26.11 Capstone.xls Pro Forma Balance Sheet
• EXHIBIT 26.12 Round Analysis Report
• EXHIBIT 26.13 Analyst Report Scoring Sample
• Individual Assessment (Comp-XM)
• EXHIBIT 26.14 Analyst Report Coaching Drilldown
• EXHIBIT 26.15 Comp-XM Sample Test Question
• EXHIBIT 26.16 Balanced Scorecard Categories
• EXHIBIT 26.17 Sample Comp-XM Individual Participant Results Report
• Back Matter
• APPENDIX I Future and Present Value Tables
• TABLE AI.1 Future Value of $1 Interest Rate
• TABLE AI.2 Future Value of an Annuity of $1 Interest Rate
• TABLE AI.3 Present Value of $1 Interest Rate
• TABLE AI.4 Present Value of an Annuity of $1 Interest Rate
• APPENDIX II Statistical Table
• TABLE AII.1 t-Distribution Table
• Glossary of Budgeting and Planning Terms
• Index