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Jet001 [13]
3 years ago
8

The budget process involves doing all of the following except a. periodically comparing actual results with the goals b. establi

shing specific goals c. executing plans to achieve the goals d. dismissing all managers who fail to achieve operational goals specified in the budget
Business
1 answer:
Sergio [31]3 years ago
7 0

Answer:

d. dismissing all managers who fail to achieve operational goals specified in the budget

Explanation:

The budget, no matter how well it's done, It's a forecast.

Price can change without the company being able to intervene, the same goes for consumer demand, foreign currency rates changes, and other variables in the budget.

Having that in mind, the accounting can measure the variance and check the efficiency and price influence in the result below expected.

Therefore, dismiss immediately after not achieving a goal is not the purpose of a budget

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Why is it so important that managers, and people in general, should act ethically and temper their pursuit of self-interest by c
kari74 [83]

Explanation:

A leader has an essential role in an organization, through his conduct his subordinates are encouraged, motivated and can become more or less productive.

Therefore, ethical conduct is essential for managers and all people who make up an organization, as ethics and behaviors for the benefit of the community will make the work environment more positive and an organizational culture focused on development, good attitudes and collaboration, essential elements for the creation of value in an organization, for the good positioning in the internal and external environment and for the motivation and satisfaction of the employees.

5 0
3 years ago
What will you be least likely to be responsible of as part of the accounting team of your organization? A. reconciling accounts
riadik2000 [5.3K]

Accounting is <em>a field that is concerned with the processing, measuring, and communicating of financial information of a company.</em> If you worked in an accounting department, you would most definitely have to reconcile accounts, prepare financial statements, monitor accounting activities, and prepare an investment schedule for the organization.

You will not, however, be expected to (D) develop marketing and advertising strategies. This type of task is usually assigned to the marketing department of a company.  

5 0
3 years ago
Alison's dress shop buys dresses from McGuire Manufacturing. Alison purchased dresses from McGuire on July 17 and received an in
wel

I need points so dont mind wat I'm putting

5 0
2 years ago
What is the purpose of tax-deferred retirement accounts?
kobusy [5.1K]
Allows individuals to set up a retirement account at financial institutions to save money for retirement. Usually has a tax free growth or tax deferred basis.

Is this free answer or is there a multiple choice?
4 0
3 years ago
1. An 80%-owned subsidiary sells merchandise to its parent at a markup of 25% on cost. During the current year, the parent paid
Vedmedyk [2.9K]

Answer:

The unrealised profit (PURP) of $5,000 [ (125,000 * .20) * (.2) ]  should be subtracted from the profit share of Non-Controlling Interest.

Explanation:

When we prepare consolidated financial statements, we treat the companies of group as a single entity. That's why the intra-group transactions must be removed the consolidated statements. This involve adjustment of current accounts, unrealised profit on sale of goods/non-current asset, loan given by one group company to another etc.

When goods are sold by one group company to another at a markup and the buyer has not yet sold it to the third party, then the markup (profit) loading on these items is unrealised from group's point of view. This needs to be removed from the consolidated accounts because no one can make profit by trading with himself. This profit is termed as realised when the goods are sold to the third party. In the individual accounts, profit on this transaction has a credit balance so to remove it we debit the "cost of goods sold of group" and a credit entry to it is made to "inventory". This credit entry to inventory bring down the balance of inventory to what was the cost of that inventory to the group. Moreover, the recording of revenue by seller and inventory by buyer on intra-group sales and purchase is also adjusted.

After all the adjustments are made, the profit is distributed between parent's retained earnings and non-controlling interest. Now if the seller of goods is subsidiary, like in this case, the amount of unreaslised profit is deducted from NCI's profit share to calculate the profit attributable to parent's retained earnings.

7 0
3 years ago
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