Accounting Budgeting

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Topic:
Accounting Budgeting
 
 
Using the techniques introduced in Chapter 10 of the Text, and building on concepts developed during the semester, prepare an Operating Budget on an annual basis commencing January 1, 2017 for five years. (please look at attached folder has all documents)
 
Your Budget must include:
 
a complete rationale and basis for the calculations included
 
A complete and fully integrated set of Balance Sheets and Income Statements, commencing with the Balance Sheet as at January 1, 2017. Individual Statements do not need to be presented. A 5 year summary set of Statements will be sufficient.
 
All of the assumptions used in the development of your budgeted data must be articulated
 
You may use either of the two sample Operating Budgets on the D2L Web site as your Guide.
 
 
The Bay Street Diner is a complete 1 Year Budget for 2017, including Journal Entries and Worksheet for a Restaurant operation. You may choose to use this as year 2017 and then complete the other 4 years using this structure. The Bay St Diner spreadsheet contains 9 separate sheets. Make sure you review all of them
 
You are expected to develop and generate your own budgeting spreadsheet in Microsoft excel, not word.. The submission is required in HARD COPY ONLY.
 
You may:
 
Use the Bay Street Diner and complete the operating budget for years 2018-2021. Your presented statements must include 2017.
 
Use an actual hospitality company as your model. You can use their operating budget, but it must be developed in your own spreadsheet, and the assumptions used must be explicitly stated.
 
You may invent a fictitious hospitality company and develop a five-year forecast and budget based on assumptions you develop.
 
If you use an actual or fictitious company background information about the company must be provided.
 
In either situation you must ensure that the Budget fits together and that Balance Sheet and Income Statements developed are compatible with each other. These compatibilities must be checked. Imbalances will be severely penalised. You should note that the sample Ski Lodge Operating Budget is condensed and is intended to be used as a guide. While the sample Bay Street Diner has been completed for the year 2017 only.
 
You may work individually or in a group of no more than three. The Assignment is due at the commencement of your scheduled class on Week 13. You can partner with a student in your section or in the other section. The Assignment is due at the commencement of the later section for which either student is registered.

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