怀尔德会计学原理第21版课后习题答案SMChap022.doc

答案家 免费找答案 PAGE 1314 ?2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Fundamental Accounting Principles, 21st Edition PAGE 1263 ?2013 by McGraw-Hill Education. This is proprietary material solely for authorized instructor use. Not authorized for sale or distribution in any manner. This document may not be copied, scanned, duplicated, forwarded, distributed, or posted on a website, in whole or part. Solutions Manual, Chapter 22 Chapter 22 Master Budgets and Planning QUESTIONS 1. A budget helps managers control and monitor a business by 1) communicating plans to employees, 2) coordinating the activities of different parts of the organization, and 3) providing a basis for deciding whether actual performance is acceptable (through benchmarking). Budgeting also helps 4) promote analysis, 5) focus on the future, and 6) motivate employees. 2. Two common benchmarks used by managers to evaluate performance are: past performance and budgeted performance. Budgeted performance is generally more useful because it is based on more current business conditions and information that are presumably reflected in the numbers. 3. Continuous budgeting provides managers a full set of updated budgets each time a budget period goes by. In a changing environment, continuous budgeting should provide superior information for effective planning. 4. Three common short-term horizons for planning and budgeting purposes are: monthly, quarterly, and annually. A semiannual planning horizon is also popular. 5. Budgeting can be a strong positive motivating force if employees are involved or consulted in the process. This participation promotes their commitment to reaching the specified goals—such a process is called participatory budgeting. Alternatively, if employee