This paper circulates around the core theme of Explain the similarities and differences of the two budgets together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 45. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.
You were recently hired as management director of the new I Can Business Incorporated (ICBI). You have been asked to establish policies and systems for the business. The first one you choose to work on is a financial reporting system.
For this assignment, you must develop a 45-page memo that you will deliver to the board of directors of ICBI. You will describe what a financial reporting system is and explain how management of ICBI should use an activity based budget instead of an operating budget. Be sure to explain the similarities and the differences of the two. Finally, give examples of budget guidelines for ICBI. You must answer the following questions:
Explain the budget cycle and process.
Write a description of how management should use an activity based budget instead of an operating budget
Explain the similarities and differences of the two budgets
Give an example of budget guidelines that ICBI should follow in order to successfully plan.
Identify and describe at least 5 basic budget guidealines.
Remember to use the library or other credible resources to support your argument. Be sure to cite your sources using the correct standard of APA.