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Tables of Contents for Budgeting
Chapter/Section Title
Page #
Page Count
Schedules
xiii
 
Preface
xvii
 
PART I General and Conceptual Issues
The Management Process
1
29
Introduction and Purpose
1
1
The Role of Management
1
2
The Functions of Management and the Management Process
3
1
The Essence of Managerial Planning
4
2
Some Conceptual Views about the Role of Management
6
9
The Essence of Managerial Control
15
2
Some Behavioral Aspects of the Management Process
17
4
Chapter Summary
21
9
Comprehensive Demonstration Case
22
2
Suggested References
24
1
Discussion Questions
24
1
Cases
25
5
The Fundamentals of Profit Planning and Control
30
41
Introduction and Purpose
30
1
Overview of PPC
30
1
Fundamental Concepts of Profit Planning and Control
31
1
Management Planning Using PPC
32
4
Time Dimensions in PPC
36
4
Management Control Using PPC
40
6
Organizational Adaptation to PPC
46
3
Coordination Using PPC
49
1
Formal Versus Informal Budgets
50
1
Flexibility in Applying PPC
51
2
Realistic Expectations in PPC---A Behavioral Problem
53
5
Establishing the Foundation for PPC
58
1
Application of PPC to Various Types of Organizations
59
1
Some Arguments Given for and against PPC
60
2
Chapter Summary
62
9
Comprehensive Demonstration Case
62
3
Suggested References
65
1
Discussion Questions
65
2
Cases
67
4
The Profit Planning and Control Process
71
50
Introduction and Purpose
71
1
The Profit Planning and Control Process
72
17
Timing of the Planning Process---Continuous Profit Planning
89
1
Line and Staff Responsibilities Related to PPC
90
2
PPC Policies Manual
92
2
Planning Perspectives
94
1
Some Behavioral Implications of a PPC Program
95
8
Chapter Summary
103
18
Comprehensive Demonstration Case
104
3
Suggested References
107
1
Discussion Questions
107
2
Cases
109
12
Application of Comprehensive Profit Planning and Control
121
50
Introduction and Purpose
121
1
Comprehensive Demonstration Case
121
33
Application of Profit Planning and Control in Nonmanufacturing Enterprises
154
2
Chapter Summary
156
15
Suggested References
156
1
Discussion Questions
157
1
Cases
157
14
PART II Application of Profit Planning and Control
Planning and Controlling Revenues: Sales and Service
171
39
Introduction and Purpose
171
1
Comprehensive Sales Planning
171
1
Sales Planning Compared with Forecasting
172
1
Strategic and Tactical Sales Plans Compared
173
2
Components of Comprehensive Sales Planning
175
1
Developing a Comprehensive Sales Plan
176
6
Consideration of Alternatives in Developing a Realistic Sales Plan
182
3
Control of Sales and Related Expenses
185
2
Planning Sales in a Nonmanufacturing Company
187
3
Chapter Summary
190
20
Comprehensive Demonstration Case
190
2
Suggested References
192
1
Discussion Questions
192
3
Cases
195
15
Planning and Controlling Production: Work-in-Process and Finished Goods Inventories
210
30
Introduction and Purpose
210
1
Overview of Production Planning
210
2
Production Budget
212
14
Material Requirements Planning (MRP)
226
1
Just-in-Time (JIT) Production
227
1
The Production Budget as a Planning, Coordinating, and Control Tool
228
1
Chapter Summary
229
11
Comprehensive Demonstration Case
230
2
Suggested References
232
1
Discussion Questions
232
1
Cases
233
7
Planning and Controlling Purchases and Materials Usage: Manufacturing and Nonmanufacturing
240
40
Introduction and Purpose
240
1
The Raw Materials and Component Parts Budget
240
8
Planning, Coordination, and Control Aspects of Raw Materials and Parts Budgeting
248
4
Planning Inventory Levels and Purchasing in a Nonmanufacturing Enterprise
252
8
Chapter Summary
260
20
Comprehensive Demonstration Case
261
9
Suggested References
270
1
Discussion Questions
270
1
Cases
271
9
Planning and Controlling Direct Labor Costs
280
22
Introduction and Purpose
280
1
Approaches Used in Planning Direct Labor Costs
281
6
Structure of the Direct Labor Budget
287
1
Control of Direct Labor Costs
287
2
Chapter Summary
289
13
Comprehensive Demonstration Case
290
4
Suggested References
294
1
Discussion Questions
294
1
Cases
294
8
Planning and Controlling Expenses: Manufacturing Overhead, Product Quality Costs, and Distribution and Administrative Expenses
302
41
Introduction and Purpose
302
1
Cost versus Expense
303
3
Planning Expenses
306
2
Control of Manufacturing Overhead
308
1
Product Costing
308
1
Developing Factory Overhead Budgets
309
2
Planned Cost of Goods Manufactured
311
1
Product Quality Costing
312
1
Planning Distribution (Selling) Expenses
313
1
Preparing Distribution (Selling) Expense Budgets
314
2
Planning Administrative Expenses
316
1
Headcount Forecasting
317
1
Comprehensive Demonstration Case
318
11
Administrative Expense Budgets Illustrated
329
1
Planning Expenses in Nonmanufacturing Enterprises
329
5
Chapter Summary
334
9
Suggested References
334
1
Discussion Questions
334
1
Cases
335
8
Flexible Expense Budgets: Concepts, Development, and Application
343
51
Introduction and Purpose
343
1
Concepts of Flexible Expense Budgets
343
1
Relationship of Expenses to Output or Productive Activity
344
10
Methods of Determining Cost Variability
354
12
Flexible Budget Formats
366
2
Can the Concept of Expense Variability be Realistically Applied?
368
2
Uses of Flexible Budgets
370
4
Comprehensive Demonstration Case Continued
374
6
Overview of the Concept of Expense Variability
380
14
Suggested References
380
1
Discussion Questions
380
2
Cases
382
12
Planning and Controlling Capital Expenditures
394
39
Introduction and Purpose
394
1
Capital Expenditures Defined
394
1
Characteristics of a Capital Expenditures Budget
395
1
Project Orientation in the Capital Expenditures Budget
396
1
Time Dimensions in the Capital Expenditures Budget
396
3
Benefits of a Capital Expenditures Budget
399
1
Responsibilities for Developing the Capital Expenditures Budget
399
3
Methods of Measuring the Economic Value of a Capital Expenditure
402
6
Cash Flow Considerations
408
9
The Role of Judgment
417
1
Controlling Capital Expenditures
418
3
Postcompletion Audits of Major Capital Expenditure Projects
421
1
Comprehensive Demonstration Case
421
1
Summary
422
11
Suggested References
425
1
Discussion Questions
425
1
Cases
426
7
Planning and Controlling Cash Flows
433
33
Introduction and Purpose
433
1
The Focus of Cash Planning
433
1
Time Horizons in Cash Planning and Control
434
1
Approaches Used to Develop a Cash Budget
435
12
Financial Accounting Approach to Compute Cash Flow
447
4
Control of the Cash Position
451
3
Techniques for Improving Cash Flow
454
2
Planning and Controlling Cash in a Nonmanufacturing Company
456
1
Chapter Summary
456
10
Suggested References
457
1
Discussion Questions
458
1
Cases
458
8
Completion and Application of the Profit Plan
466
32
Introduction and Purpose
466
1
Completion of the Profit Plan
466
2
Alternatives in Developing the Profit Plan
468
3
Implementing the Profit Plan
471
2
Using the Profit Plan to Control Operations
473
1
Comprehensive Demonstration Case
474
17
Chapter Summary
491
7
Discussion Questions
491
1
Cases
492
6
PART III Concepts Usually Integrated with Profit Planning and Control
Cost-Volume-Profit and Contribution Analysis
498
44
Introduction and Purpose
498
1
Fundamentals of Contribution Analysis
498
2
Breakeven Analysis
500
7
Concept of Cost Variability
507
1
Sales Price and Sales Mix Considerations
508
4
Management Policies
512
1
Special Problems in Cost-Volume-Profit Analysis
513
5
Use and Application of Breakeven Analysis
518
9
Comprehensive Demonstration Case
527
4
Chapter Summary
531
11
Suggested References
531
1
Discussion Questions
531
2
Cases
533
9
Performance Evaluation and Management Control
542
27
Introduction and Purpose
542
1
Performance Reports and Communication
543
1
Essential Features of Performance Reports
544
1
The Basic Format of Performance Reports
545
3
Adapt Performance Reports to Requirements of Users
548
6
Management Follow-Up Procedures
554
1
Technical Aspects of Control Reports
555
4
Comprehensive Demonstration Case
559
1
Performance Reporting in Nonmanufacturing Firms
559
2
Executive Compensation and Incentive Plans
561
1
Chapter Summary
562
7
Suggested References
562
1
Discussion Questions
563
1
Cases
563
6
Analysis of Budget Variances
569
24
Introduction and Purpose
569
1
Analyzing Variances
569
13
Formats to Systematize Variance Analyses
582
1
Use of Variance Analysis
582
2
Variance Investigation
584
1
Chapter Summary
585
8
Suggested References
585
1
Discussion Questions
586
1
Cases
587
6
Coordinating Accounting Systems with Profit Planning and Control
593
37
Introduction and Purpose
593
1
Importance and Characteristics of a Cost-Effective Accounting System to Support a Profit Planning and Control Program
594
2
Cost, Profit, and Investment Centers
596
2
Selected Accounting Systems Relevant to Profit Planning and Control
598
14
Flexible Expense Budgets Related to Standard Costs
612
1
Integration of Standard Costing and Profit Planning and Control
613
17
Suggested References
616
1
Discussion Questions
616
1
Cases
617
13
Perspectives and Overview
630
18
Introduction and Purpose
630
1
Adaptation in the Profit Planning and Control Process
630
1
Installation of a PPC System
631
1
Budget Education
632
1
Implementing the PPC Program
632
1
Managerial Flexibility in Applying PPC
633
3
Behavioral Considerations
636
3
Quantitative Methods and Computerization
639
9
Suggested References
640
1
Cases
640
8
Appendix: Probability and Decision Making Under Uncertainty
648
7
Introduction and Purpose
648
1
Elements of Decision Making under Uncertainty
648
1
Maximizing Expected Monetary Value
649
1
Maximizing Expected Utility
649
1
Risk Sharing
650
1
Probabilistic Budgets
651
2
Other Probabilistic Techniques
653
2
Suggested References
653
2
Index
655