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READING/OBJECTIVE:

Ch 22 Master Budgets and Planning

This chapter explains the importance of budgeting and describes the master budget and its preparation. It also discusses the value of the master budget to the planning of future business activities.

Ch 22 Master Budgets and Planning

Describe the importance and benefits of budgeting and the process of budget administration. (p. 900)

Describe a master budget and the process of preparing it. (p. 904)

DISCUSSION QUESTION a minimum of 200-250 words required.

Chapter 22

1. Define and discuss the basics of the Budget process. What is the purpose of the budget? What additional management control may be created by using a budget?