微观经济学budgetingandresponsibilityaccounting(编辑修改稿)

微观经济学budgetingandresponsibilityaccounting(编辑修改稿)内容摘要：

costs Advertising 5 000 5 000 5 000 5 000 20 000 Sales salaries 15 000 15 000 15 000 15 000 60 000 Office salaries 7 500 7 500 7 500 7 500 30 000 Depreciation 1 000 1 000 1 000 1 000 4 000 Insurance 1 500 1 500 1 500 1 500 6 000 Total fixed 30 000 30 000 30 000 30 000 120 000 Total selling and admin expenses $42 000 $44 000 $46 000 $48 000 $180 000 HAYES PTY LTD Selling and Administrative Expense Budget for the year ending 31 December 2020 Budgeted ine statement • The budgeted ine statement is the end product of the operating budgets • It shows expected profitability for budget period • It bines individual operating budgets plus additional expenses (., interest, taxes) • It forms a basis for performance evaluation PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 24 LO4 Budgeted ine statement continued PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 25 Sales $900 000 Cost of sales (15 000 x $44) 660 000 Gross profit 240 000 Selling and administrative expenses 180 000 Profit from operations 60 000 Interest expense 100 Profit before ine taxes 59 900. Ine tax expense 12 000 Profit $ 47 900 HAYES PTY LTD Budgeted Ine Statement for the year ending 31 December 2020 PREPARING THE FINANCIAL BUDGETS • The financial budgets consist of – The capital expenditure budget – The cash budget – The budgeted statement of financial position PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 26 Cash budget • The cash budget shows anticipated cash flows • It bines ending cash balance from previous period plus details from other budgets • The annual cash budget is often detailed on monthly basis to reflect anticipated levels of activities • It helps plan for cash excesses and shortfalls PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 27 LO5 Cash budget continued • The cash budget has three sections: – Cash receipts: expected cash inflows from customers, interest, dividends, planned sales of assets and shares – Cash disbursements: expected cash outflows for direct materials and labour, overheads, selling and administration costs, taxes, dividends, assets – Financing: expected cash borrowings and repayments of borrowings PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 28 Cash budget continued PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 29 Beginning cash balance $XXXX Add: Cash receipts (Itemised) XXXX Total available cash XXXX Less: Cash disbursements (Itemised) XXXX Excess (deficiency) of available cash over disbursements XXXX Financing XXXX Ending cash balance $XXXX ANY PTY LTD Cash Budget for the year ending XXXX Budgeted statement of financial position • The budgeted statement of financial position is a projection of the financial position at end of budget period • It bines the previous period’s budgeted statement of financial position and budgets for current period (sales, direct materials, direct labour, overheads, selling and administration budgets) • The format is similar to that prepared for external users PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 30 BUDGETING IN NONMANUFACTURING ENTITIES • Budgeting is not limited to manufacturing entities • Budgets may also be used in profit planning by a range of other entities: – Retailers and wholesalers – Service entities – Notforprofit anisations PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 31 Retailers and wholesalers • Sales budget is the starting point • Sales budget drives the master budget • Master budget incorporates departmental budgets • Inventory purchases budget used instead of production budget • Inventory purchases budget shows estimated cost of goods needed to meet sales PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 32 Retailers and wholesalers continued • Formula for determining budgeted inventory purchases: PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 33 Budgeted cost of sales Beginning inventory Required inventory purchases + = Desired ending inventory + Service entities • Expected output drives master budget • Levels of staff planned to match anticipated levels of service • Profitability affected by: – overstaffing (excessive labour costs) and – understaffing (client dissatisfaction thus low revenue) • Service revenue determined by billing time and services offered PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 34 Notforprofit anisations • Budgeting involves planned expenditure to fund activity index usually drives master budget • Budget is often prepared on cash basis, not accrual basis • Management task is to find sufficient cash receipts for planned expenditure PowerPoint presentation by Dr Anne Abraham, University of Western Sydney 35 CONCEPT OF BUDGETARY CONTROL • Budgetary control refers to the use of budgets to control operations by paring actual results with planned objectives • Comparisons occur at regular intervals: daily, weekly or monthly as required • Budget reports provided feedback about the progress of planned activities • Differences are analysed so plans can be modified if necessar。