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Accounting Principles II - Managerial CH. 7 Writing Assignment (E15A) Assume that you work in the accounting department of a small shipping services company. Inspired by a recent seminar on budgeting, the company's president wants to develop a budgeting system and has asked you to direct it. Identify the points concerning the initial steps in the budgeting process that you should communicate to the president. Concentrate on principles related to both long-term goals and short-term goals. Accounting Principles II - Managerial CH. 8 Writing Assignment (SE2) Suppose you are a management consultant and a client asks you the advantages and disadvantages of using standard costs in cost accounting systems. Prepare your response, listing and explaining the advantages and disadvantages of using standard cost.