Budgeting Basics and Beyond

by Shim, Jae K.; Siegel, Joel G.; Shim, Allison I.

• ISBN13: 9781118096277
• ISBN10: 1118096274
• Edition: 4th
• Format: Hardcover
• Copyright: 2011-11-01
• Publisher: Wiley

Summary

Budgeting Basics and Beyond, 4th Edition is a practical, easy-to-use problem-solver and up-to-date reference tool for today's financial and nonfinancial managers in public practice and private industry. It is packed with case studies, illustrations, exhibits, forms, checklists, graphs, samples, and worked-out solutions to a wide variety of budgeting, planning, and control problems. It is a truly valuable resource guaranteed to make the budgeting process effective and hassle-free for all managers who use it. The new edition includes new cost cutting strategies, software packages updates, cloud computing nd, new use of Excel for exponential smoothing, Minitab and SPSS, and updates on cash flow software. The book also includes financial planning and new types of financial modeling, variance analysis, Web-based budgeting, active budgeting illuminating "what-if" analyses throughout, spreadsheet applications, break-even analysis, project analysis, and capital budgeting.

Author Biography

JAE K. SHIM, PhD, has authored or coauthored more than fifty professional and college finance and accounting books. Thirty of his publications have been translated into various languages such as Chinese, Spanish, Russian, Polish, Croatian, Italian, Japanese, and Korean. He is CEO of Delta Consulting Co., a consulting and training firm, and accounting and finance professor at California State University, Long Beach.

JOEL G. SIEGEL, PhD, CPA, is the author of over fifty books and has written hundreds of articles for accounting and financial journals. He was a member of the audit staff at Coopers & Lybrand. Dr. Siegel has acted as consultant in accounting issues to many organizations, including IT&T, Citicorp, and Person/Wolinsky CPA Review.

ALLISON I. SHIM, MS, is CFO of Delta Consulting Co. She is a finance expert and a PhD candidate at the University of California at Irvine.

Table of Contents

About the Authors	p. xi
Preface	p. xiii
The What and Why of Budgeting: An Introduction	p. 1
Strategic Planning and Budgeting: Process, Preparation, and Control	p. 29
Administering the Budget: Reports, Analyses, and Evaluations	p. 45
Break-Even and Contribution Margin Analysis: Profit, Cost, and Volume Changes	p. 57
Profit Planning: Targeting and Reaching Achievable Goals	p. 79
Master Budget: Genesis of Financial Forecasting and Profit Planning	p. 95
Cost Behavior: Emphasis on Flexible Budgets	p. 119
Evaluating Performance: The Use of Variance Analysis	p. 131
Manufacturing Costs: Sales Forecasts and Realistic Budgets	p. 191
Marketing: Budgeting for Sales, Advertising, and Distribution	p. 203
Research and Development: Budgets for a Long-Term Plan	p. 223
General and Administrative Costs: Budgets for Maximum Productivity	p. 237
Capital Expenditures: Assets to Be Bought, Sold, and Discarded	p. 243
Forecasting and Planning: Reducing Risk in Decision Making	p. 267
Moving Averages and Smoothing Techniques: Quantitative Forecasting	p. 277
Regression Analysis: Popular Sales Forecast System	p. 289
Cash Budgeting and Forecasting Cash Flow: Two Pragmatic Methods	p. 301
Financial Modeling: Tools for Budgeting and Profit Planning	p. 315
Using Software Packages and E-Budgeting: Computer-Based Models, Spreadsheets, and Web-Based Systems	p. 329
Capital Budgeting: Selecting the Optimum Long-Term Investment and Real Options	p. 351
Budgeting for Cost Management: Activity-Based Budgeting and Life-Cycle Budgeting	p. 393
Zero-Base Budgeting: Priority Budgeting for Best Resource Allocation	p. 411
Managers' Performance and Balanced Scorecard: Evaluation at the Division Level	p. 419
Budgeting for Service Organizations: Special Features	p. 453
Budgeting for Nonprofit Organizations: Diverse Types	p. 463
Using Management Games for Executive Training	p. 487
Future and Present Value Tables	p. 505
Statistical Table	p. 511
Glossary of Budgeting and Planning Terms	p. 513
Index	p. 531
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