Managerial Budgeting

Topics: Cost-benefit analysis, Cost, Welfare economics Pages: 3 (562 words) Published: December 17, 2012
Week Two Read Me First



This week covers the various cost descriptors such as fixed, variable, direct, indirect and the budget cycle. We will discuss applying cost-benefit analysis to an organizational situation and how it is used at different levels of public budgeting, governmental, and non-profit accounting. We will discuss line item budgeting, program budgeting, and performance budgeting

This Week in Relation to the Course

In the first week we discussed the making of informed financial decisions and identified key players in the budget process. We discussed and evaluated key financial tools. This week we will apply analysis in organizational situations in modern budgeting, the historical reforms that shaped public budgeting in America, and how these reforms influence what we perceive as the proper role of budgeting in America. We will examine the four common philosophic attitudes of budget officers toward the budget process and the significance of program results in budgeting. We will review different strategies such as, spending, cutting, and how these strategies are used to support programs. We will discuss the influence of politics and perspectives in budgeting. In discussing cost benefit analysis, we will examine the value of forecasting and simulation.

Discussion of a Key Point, Thread, or Objective

In the class discussion and individual exercise, we will examine the changes that can affect the budget cycle. We will look at how the preparation, execution, and evaluation of the budget cycle are influenced by politics, and society. By misunderstanding the productivity concept, what types of difficulties may we have? What are some of the common reasons for government not to increase productivity and what are the affects? This week’s objectives will be to examine these key issues.

Practical Applications and Questions

As we review the course material, how do we approach budget...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about Methods of Budgeting
  • The strengths and weaknesses of the traditional budgeting Essay
  • Managerial Finance Essay
  • Essay on Budgeting
  • Capital Budgeting Research Paper
  • Capital Budgeting Essay
  • Essay about Capital Budgeting
  • Capital Budgeting Essay

Become a StudyMode Member

Sign Up - It's Free