Đang chuẩn bị nút TẢI XUỐNG, xin hãy chờ
Tải xuống
(BQ) Part 2 book "Managerial accounting" has contents: Master budgeting; flexible budgets and performance analysis; standard costs and variances; performance measurement in decentralized organizations; differential analysis - The key to decision making; capital budgeting decisions; statement of cash flows; financial statement analysis. | CHAPTER 8 Master Budgeting Planning for a Crisis—Civil War Trust BUSIN ESS FO CUS LEARNING OBJECTIVES After studying Chapter 8, you should be able to: LO8–1 LO8–2 Sources: Communications with James Lighthizer, president, and David Duncan, director of membership and development, Civil War Trust; and the CWT website, www.civilwar.org. 342 Prepare a sales budget, including a schedule of expected cash collections. LO8–3 The Civil War Trust (CWT) is a private, nonprofit organization with 70,000 members that works to preserve the nation’s remaining Civil War battlefields—many of which are threatened by commercial development such as shopping centers, houses, industrial parks, and casinos. To forestall development, the CWT typically purchases the land or development rights to the land. The CWT has saved over 25,000 acres from development, including, for example, 698 acres of battlefield at Gettysburg. CWT’s management team was particularly concerned about the budget proposal for 2009, which was to be presented to the board of directors in the fall of 2008. The CWT is wholly supported by contributions from its members and many of those members had been adversely affected by the ongoing financial crisis that followed the collapse of the subprime mortgage market. Consequently, the funds that would be available for operations in 2009 were particularly difficult to predict. Accordingly, the budget for 2009 contained three variations based on progressively pessimistic economic assumptions. The more pessimistic budgets were called contingent budgets. As 2008 progressed and member contributions declined somewhat from previous levels, CWT switched to the first contingent budget. This contingent budget required a number of actions to reduce costs including a hiring freeze and a salary freeze, but maintained an aggressive program of protecting battlefield acreage through purchases of land and development rights. Fortunately, the CWT did not have to switch to the most .
