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cma course p1 : unit14

cma course part 1 :  lectures and some questions about each unit



MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(14.1) Sales Forecasts and the Sales Budget
1) Sales Forecasts
2) Sales Budget
MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(14.2) Operating Budget Calculations -- Production and Direct Materials
1) Production Budget
2) Direct Materials Budget
MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(14.3) Operating Budget Calculations -- Others
1) Direct Labor Budget
2) Employee Fringe Benefits
3) Variable Overhead
4) Fixed Overhead
5) Ending Finished Goods Inventory Budget
6) Cost of Goods Sold Budget
7) Variable Costing and Contribution Margin
8) Non-manufacturing Budget
9) Pro Forma Operating Income
MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(14.4) Projecting Cash Collections
1) Capital Budget
2) Cash Collections Schedule
MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(14.5) The Cash Budget
1) Cash Budget Preparation
MR:amr taison
MR:mohamed cma
MR:desoky kh.
MR:m.batayneh
(14.6) Pro Forma Financial Statements
1) Pro Forma Statement of Income
2) Percentage of Sales Method
3) Pro Forma Balance Sheet
4) Pro Forma Statement of Cash Flows
5) Financial Projections and Ratio Analysis
6) Graphical Depiction
G.2020G.2021mr.amro taison
10.914.1lec. 21
10.514.2lec. 21
10.614.3lec. 21
10.714.4lec. 21
10.814.5lec. 21
10.914.6lec. 21
Some Questions about unit 14
1- What is sales forecasting?
Sales forecasting is based on the previous data, the level of sales achieved by the company during its previous years is considered.
Depending on the data that obtained from previous sales, the sales budget for the current year is prepared
2- What is sales budget?
The sales budget is the most important budget prepared by the company in order to achieve its profits, so it is the budget that controls all other budgets.
Through sales forecasting, a sales budget is prepared, in which sales are specified in detail, the number of units that the company intends to sell during the budget year is determined, and if the company produces different types of products, the target sales volume of each type is determined separately
3- What is production budget?
The production budget is prepared immediately after sales budget to reduce the costs of carrying finished goods, and selling older inventory. Production levels are based on forecasts in the sales budget.
4- What is the direct materials budget?
After determining the number of units in the production budget, a direct materials budget is prepared, which depends on the quantity of direct materials used in achieving the production budget and the price of those materials.
5- What is the direct labor budget?
The direct labor budget depends on the wages rate of employees, their number, skill level, type and quantity of production
6- What are employee fringe benefits?
Once the cost of wages has been determined, the cost of employee fringe benefits must be determined. Such as: health and life insurances
7- What is the indirect manufacturing budget?
The manufacturing budget reflects the nature of the cost, which contains a fixed part and a variable part. In this budget, the fixed part is separated from the variable
8- What are the components of variable overhead?
1) Indirect materials (additional materials)
2) Indirect wages (e.g. supervisors' wages)
3) Variable operating costs (e.g. electricity)
9- What are the components of fixed overhead?
1) Real estate taxes
2) Insurance
3) Depreciation
10- When is ending finished goods budget prepared?
Since all components of finished goods cost are ready, then the ending finished goods inventory budget can be prepared.
11- What is cost of goods sold budget?
The cost of goods sold budget combines each of (materials, direct labors, overhead) budgets, this budget directly affects the income statement.
12- What is the capital budget?
The capital budget relates to the financing of major expenditures for long-term assets, and therefore it should have a multi-year perspective. Production machinery must be acquired to enable the company to achieve its expected levels of production.
13- What is the projected cash schedule?
This schedule (projected cash collections) is used to estimate the cash inflows from the payments of customers.
14- What are the components of cash budget
The cash budget combines operating budget results and cash collection and disbursement schedules to produce a comprehensive view of cash sources and uses.
15- What is the cash budget used for?
The cash budget is used for planning external financing activities.
The cash budget is also used for planning the investment of excess funds.
The company can plan the dividend policy based on the cash budget (the dividend is distributed when the company has enough cash)
16- What is the use of pro forma statement of Income?
The pro forma income statement is used to show the expected result of the budgeted activities, and whether or not those activities will lead to an acceptable level of income. If the result is a loss or an unacceptable level of income, the company can make adjustments to the components of the master budget
17- What is pro forma balance sheet?
The cash and capital budgets and the pro forma income statement are used to prepare the pro forma balance sheet.
Pro forma balance sheet is the balance sheet for the beginning of the period updated for expected changes in (cash, receivables, payables, inventory, etc.)
18- What is pro forma statement of cash flows?
Usually the last statement prepared by the company is the pro forma statement of cash flows.
Users can assess the liquidity, solvency and financial flexibility of the company using the cash flow pro forma
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