Discuss this comment by a small- town bank president: Budgeting is a waste of time. Ive been

Question:

Discuss this comment by a small- town bank president: “Budgeting is a waste of time. I’ve been running this business for 40 years. I don’t need to plan.”

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Managerial Accounting Creating Value in a Dynamic Business Environment

ISBN: 978-0078025662

10th edition

Authors: Ronald Hilton, David Platt

See More Books

Question Posted: Apr 22, 2014 02:54 AM

See More Questions

Double-entry book-keeping is a waste of time and money because everything has to be recorded twice. Discuss.
As a new accountant, reply to this comment by a plant manager: 'As I see it, our accountants may be needed to keep records for shareholders and for the tax authorities - but I don't want them...
Don was a senior vice president of a bank until its officials found he had embezzled more than $1,000,000. Don had set up fictitious checking accounts and deposited the funds into the accounts. He...
H. Brown (Portsmouth) Ltd produces a range of central heating systems for sale to builders merchants. As a result of increasing demand for the businesss products, the directors have decided to expand...
Consider again plants with the null hypothesis that mean height is 39.0. Assume that the standard deviation is known to be 3.2 cm. 1. Show that a measured sample mean of 40.0 is highly significant if...
Lithium reacts with water to produce lithium hydroxide. What else is produced? Write the equation of the process. Which element is reduced and which is oxidized?
Describe how project management software can assist in project cost management? LO.1
A recent poll asked 16- to 21-year-olds whether or not they are likely to serve in the U.S. military. The following table, cross-classified by gender and race, reports the percentage of those polled...
Choose the best or correct option. Questions 1 - 8 : Your friends and you have decided to invest in a one - year high - tech project that requires $ 2 , 0 0 0 , 0 0 0 investment. The $ 2 mil will be...
1. What type of MBTI decision style do you think Cynde has? Explain. 2. Based on your answer to question 1, what are Cyndes strengths and blind spots when making important decisions? 3. Help Cynde...
Define the term budgetary slack, and briefly describe a problem it can cause.
List the steps you would go through in developing a budget to meet your college expenses.
In what major way does behavioural segmentation differ from the other methods? Outline the variables that can be used in behavioural segmentation.
Suggest at least 3 touchpoints for each stage of the decision-making process that SEDO can use. Search and find in which of the touchpoints for information search stage suggested by you, can you see...
How do modern database management systems address the challenges posed by Big Data, including storage, processing, and analysis of massive volumes of heterogeneous data, while maintaining performance...
Describe how the various and sometimes seemingly unrelated topic areas work together toward managing healthcare quality
find Fourier series of the following functions (a) f1(x) = sinh(x), (b) f2(x) = cosh(x), (c) f3(x) = x + |x|, (d) f4(x) = x|x|.
Explore the realm of database transaction processing, elucidating the nuances of ACID (Atomicity, Consistency, Isolation, Durability) properties and their manifestation in ensuring transactional...
What is the purpose of the project scope statement? What information is used to create the scope statement? How is the scope reflected on the work breakdown structure?
Consider the following cash flows in Table P5.5. (a) Calculate the payback period for each project. (b) Determine whether it is meaningful to calculate a payback period for project D. (c) Assuming...
Visit the websites of major accounting firms. Search for what they are doing with AI/machine learning. How do you think this will affect the accounting profession over the next 10 years?
Smith and Jones is a law firm that serves both individuals and corporations. A controversy has developed between the partners of the two service lines as to who is contributing the greater amount to...
Smith and Jones is a law firm that serves both individuals and corporations. A controversy has developed between the partners of the two service lines as to who is contributing the greater amount to...
Smith and Jones is a law firm that serves both individuals and corporations. A controversy has developed between the partners of the two service lines as to who is contributing the greater amount to...
essential con Example 15: Mr. Sunil Mukharjee has estimated probable under different macroeconomic conditions for the following three stocks: Stock Current Price (Rs.) Rates of return (%) during...
ABC Corporation has an activity - based costing system with three activity cost pools - Machining, Setting Up , and Other. The company's overhead costs, which consist of equipment depreciation and...
Consolidated Balance Sheets - USD ( $ ) $ in Thousands Dec. 3 1 , 2 0 2 3 Dec. 3 1 , 2 0 2 2 Current assets: Cash and cash equivalents $ 9 8 , 5 0 0 $ 6 3 , 7 6 9 Restricted cash 2 , 5 3 2 Short -...

Discuss this comment by a small- town bank president: Budgeting is a waste of time. Ive been

Question:

Step by Step Answer:

This comment is occasionally heard from people who have started and run their own small ...View the full answer

Managerial Accounting Creating Value in a Dynamic Business Environment

Students also viewed these Managerial Accounting questions