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Transcript

JUMANJI

BUDGETING

START

RULES

PLAY

  • Make 4 teams; each one chooses a character.
  • Wins the team that gets to the center first.
  • Roll the dice to know how many spaces you must advance.
  • The marked spaces have surprise events.

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SUSPENS

Players

Roll the dice

Restart

JUMANJI

Congratulations! You have reached the golden city, you win the game if you answer correctly...

A game for those who seek to find a way to leave their world behind.

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You have great flexibility, move forward one space.

You are very strong, roll the dice again.

Every month at the quarter moon. There'll be a monsoon in your lagoon. You lose the next turn.

Courage is not the absence of fear, but the triumph over it. Move forward two spaces.

You got scared and ran away. Move back two spaces.

They grow much faster than bamboo. Take care or they'll come after you. You lose the next turn.

A law of Jumanji having been broken. You will slip back even more than your token. Move back two spaces.

A hunter from the darkest wild. Makes you feel just like a child. Move back one space.

You have amazing jungle skills, roll the dice again.

This will not be an easy mission. Monkeys slow the expedition. You lose the next turn.

Don't be fooled, it isn't thunder. Staying put would be a blunder. You lose the next turn.

You are very brave, move forward one space.

Don't be fooled, it isn't thunder. Staying put would be a blunder. You lose the next turn.

You have amazing jungle skills, roll the dice again.

Beware of the ground on which you stand. The floor is quicker than the sand. You lose the next turn.

You got hit by a heatwave. You lose the next turn.

His fangs are sharp, he likes your taste. Your party better move poste haste. You lose the next turn.

You have amazing running skills, move forward one space.

You have memory loss, move back one space.

The jungle has been rough on you. You get a free pass card (you can skip answering the question of your choice).

You have great survival skills, move forward one space.

You got injured and need to rest. You lose the next turn.

Need a hand? Why, you just wait. We'll help you out... we each have eight. Move back one space.

At night they fly, you better run. These winged things are not much fun. You lose the next turn.

What is a budget?

Budgeting is part of what type of accounting?

Budgeting is a ________ and control system.

At the beginning of the period, the budget is a ______; thus, it communicates to the members of an entity what is expected of them. .

At the end of the period, the budget is a ________ instrument to assist management in measuring the entity's performance and improve in the future.

In short, a budget is a ________ plan to control future operations and results.

Who use budgets?

Mention 2 budgeting objectives.

Mention the 6 steps in the budgeting process.

What are the 3 types of budget time spans?

True or false... Intermediate term budgets correspond to one year or less (quarters or months) and provide greater detail and specifics.

True or false... Long term budgets correspond to 3+ years. They are very broad and may be less reliable.

What is the bottom-up approach in budgeting?

What is the top-down approach in budgeting?

Mention 2 requirements for achieving effective budgeting.

Budgeted revenue and costs are compared to the actual ones, in order to determine __________, analyze and explain them.

Why is it important to determine differences between budgeted revenue and costs vs the actual ones?

Mention 2 budget limitations.

What is a continuous (rolling) budget?

What is a fixed budget?

What is a flexible budget?

What is an incremental budget?

What is a zero base budget?

What is a responsibility accounting budget?

What is a program based budget?

What is a master budget?

What is an operating budget?

What is a financial budget?

Name the budget that is the starting point for preparing a master budget.

What is the CAPEX (capital expenditures) budget?

What is the cashflow budget?

What are the projected financial statements?

Determine the total sales for the quarter.

  • Units to be sold: 1,000, 800 & 1,400 (Jan-Mar).
  • Unit price: $100.

Determine January's units to be purchased.

  • Units to be sold: 1,000, & 800 (Jan-Feb).
  • Ending inventory of 90% next month's sales.
  • Jan's beginning inventory of 900.

Determine the quarter's sales commissions (10% on sales).

  • Units to be sold: 1,000, 800 & 1,400 (Jan-Mar).
  • Unit price: $100.

Determine March's depreciation expense. BB are: - Computing equipment: $200,000. - Accrued dep: $39,000. Acquisition on credit in March: $25,000. (SL, SIM, UL 10 years, SV $20,000).

Determine March's collections from customers.

  • Sales of $80,000 & $140,000 (Feb-Mar).
  • Collection: 40% in the same month of sale and 60% the following month.

January's revolving credit beginning balance is $10,000 and the ending balance is $2,800. Annual interest is 12%. Determine January's interests.

February's cashflow budget

  • Inflows: $112,000.
  • Outflows: $86,728.
  • Cash policy is $20,000.
  • Revolving credit BB: $2,800.
What should the company do?

Quarter's beginning balances: - Computing equipment: $200,000. - Accrued dep: $36,000. Quarter's ending balances: - Computing equipment: $225,000. - Accrued dep: $40,500. Determine the balances to be included in the projected financial statements (IS & BS).

Determine the quarter's payments to suppliers.

  • September's suppliers balance: $58,200.
  • Quarter's purchases: $49,200, $80,400 & $57,000.
Payment is the following month of purchase.

Determine the total sales for the quarter.

  • Units to be sold: 10,300, 10,918 & 11,027 (Apr-Jun).
  • Unit price: $35.

Determine the total sales for the quarter.

  • Units to be sold: 3090, 3275 & 3308 (Apr-Jun).
  • Unit price: $12.

Determine June's collections from customers.

  • Sales: $360,500, $382,130 & $385,951 (Apr-Jun).
Collections:
  • Month of sale: 30%.
  • Following month: 15%.
  • Following month: 55%.

Determine May's collections from customers.

  • Sales: $37,080 & $39,305 (Apr-May).
Collections: 50% in cash and the rest on credit (next month).