TAILIEUCHUNG - Lecture Managerial accounting - Chapter 9: Profit planning

This chapter focuses on the steps taken by businesses to achieve their planned levels of profits - a process called profit planning. Profit planning is accomplished by preparing numerous budgets, which, when brought together, form an integrated business plan known as a master budget. | Profit Planning Chapter 9 Chapter 9: Profit planning. This chapter focuses on the steps taken by businesses to achieve their planned levels of profits - a process called profit planning. Profit planning is accomplished by preparing numerous budgets, which, when brought together, form an integrated business plan known as a master budget. Learning Objective 1 Understand why organizations budget and the processes they use to create budgets. 9- Learning objective number 1 is to understand why organizations budget and the processes they use to create budgets. The Basic Framework of Budgeting A budget is a detailed quantitative plan for acquiring and using financial and other resources over a specified forthcoming time period. The act of preparing a budget is called budgeting. The use of budgets to control an organization’s activities is known as budgetary control. 9- A budget is a detailed quantitative plan for acquiring and using financial and other resources over a .

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