6. Master Budget: Genesis of Financial Forecasting and Profit Planning

  1. Jae K. Shim,
  2. Joel G. Siegel and
  3. Allison I. Shim

Published Online: 9 MAR 2012

DOI: 10.1002/9781118387023.ch6

Budgeting Basics and Beyond, Fourth Edition

Budgeting Basics and Beyond, Fourth Edition

How to Cite

Shim, J. K., Siegel, J. G. and Shim, A. I. (2011) Master Budget: Genesis of Financial Forecasting and Profit Planning, in Budgeting Basics and Beyond, Fourth Edition, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9781118387023.ch6

Publication History

  1. Published Online: 9 MAR 2012
  2. Published Print: 17 OCT 2011

ISBN Information

Print ISBN: 9781118096277

Online ISBN: 9781118387023

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Keywords:

  • master budget;
  • operating budget;
  • financial budget;
  • comprehensive sales planning;
  • forecasting

Summary

This chapter contains sections titled:

  • Comprehensive Sales Planning

  • Sales Budget

  • Monthly Cash Collections from Customers

  • Production Budget

  • Inventory Purchases, Merchandising Firm

  • Direct Material Budget

  • Direct Labor Budget

  • Factory Overhead Budget

  • Ending Finished Goods Inventory Budget

  • The Cost of Goods Sold Budget

  • Selling and Administrative Expense Budget

  • Cash Budget

  • Budgeted Income Statement

  • Budgeted Balance Sheet

  • Some Financial Calculations

  • Using an Electronic Spreadsheet to Develop a Budget Plan

  • Financial Forecasting: The Percent–of–Sales Method

  • Summary