Why is budgeting important for a company? What are some reasons that a company would not prepare a budget?
Why does preparing the master budget require a committee?
What information does the pro forma income statement provide? How does its preparation depend on the operating budgets?
Describe responsibility accounting and its purpose. What conditions are necessary for responsibility accounting to be used effectively?
What is an investment center? What are the managers of an investment center responsible for?
Describe what a cost center is. How does this differ from a profit center?
Track the ingestion and digestion of a ham and cheese sandwich on whole wheat bread with lettuce, green pepper, and tomatoes. Describe the fate of this sandwich from the time you eat it. Be very detailed as to the digestive process, location, enzyme action, and use of accessory organs of digestion (and their products). Someone get us started at the beginning