BUS 3301-01 Financial Accounting Learning Journal
Question Description
I’m working on a accounting writing question and need the explanation and answer to help me learn.
How do business leaders make sense out of data when the expected volume of activity changes? By understanding standard-unit costing concepts, a budget model can be developed that will adjust according to changes in key volume activity indicators.
READING ASSIGNMENT
Principles of Accounting, Chapter 22: Tools for Enterprise Performance Evaluation:
http://www.principlesofaccounting.com/chapter-22/
Principles of Accounting, Chapter 24: Analytics for Managerial Decision Making: http://www.principlesofaccounting.com/chapter-24/
Please review this chapter’s “Objectives” and “Key Terms” before and after reading. After you complete the reading, be sure to take this chapter’s “Fill in the Blanks” and “Multiple Choice” Self-Quizzes.
Chapter 22 first discusses a couple of common approaches to enterprise-wide management. The chapter then demonstrates the flexible budget model. Flexible budgets measure enterprise performance based on key volume statistics. Chapter 24 describes the capital budgeting process along with a demonstration of net present value computations.
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