会计信息是一个组织的命脉，因为它促进、影响着那些达成组织目标的运营性和战略性决定。会计以3种角色来帮助组织进行决策：衡量、控制、沟通。\n\n这门课将介绍会计是如何帮助经理人制定、实施、并优化组织战略。特别的，你将会学习非财务和财务信息是如何被创建和处理，如何影响经理人进行战略决策及衡量战略是否成功。这门课还将介绍会计是 to be continued..

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来自 伊利诺伊大学香槟分校 的课程

会计之商业决策：战略评估与控制

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会计信息是一个组织的命脉，因为它促进、影响着那些达成组织目标的运营性和战略性决定。会计以3种角色来帮助组织进行决策：衡量、控制、沟通。\n\n这门课将介绍会计是如何帮助经理人制定、实施、并优化组织战略。特别的，你将会学习非财务和财务信息是如何被创建和处理，如何影响经理人进行战略决策及衡量战略是否成功。这门课还将介绍会计是 to be continued..

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Module 3: Planning and Monitoring Operations

In this module, you will explore budgeting in organizations.

- Gary Hecht, Ph.D.Associate Professor of Accountancy

Department of Accountancy, College of Business

So now let's take these concepts and apply them in our recurring setting,

the GnG Landscape setting.

That'll give us more of an understanding of the details required

in order to produce the budgets that an organization uses.

Let's assume that GnG owners have recently expanded

to manufacture a variety of landscaping supplies on a wide scale.

Ultimately they sell these supplies to other landscape supply companies.

And currently we're in the budget development process for large, decorative,

ceramic pots.

So as I've mentioned before, a master budget needs to start with

how many units that we project to sale during a counting period, and

that means we'll start with the sales budget.

The sales budget for GnG Landscapes is broken down by quarter.

There are three components to the sales budget.

First is expected unit sales for the quarter.

Second is the unit selling price and

the third is the product of both of these, multiplying the expected unit sales

by the selling price yields the total sales revenue for that particular quarter.

Information that is collected from the marketing department, customers and

other expectations, generate quarter one's expected unit sales of 3,500 units.

The unit selling price,

that is the amount that we charge our customers per unit is $80.

So during quarter 1, we expect a total sales revenue of $280,000.

In quarter two, we expects slightly higher unit sales.

Start at 3,500 or up to 4,000.

The selling price during quarter two is not projected to change.

So we leave that at $80 and multiplying that by each unit that we expect to

sell yields a slightly higher total sales revenue for

quarter 2, an amount of 320,000.

Similar information can be projective for quarters three and

quarters four yielding their respective quarters total sales revenue.

Which ultimately get us a total sales revenue for the year of $1,240,000.

In that last column the 15,500 is the sum of all of the individual

quarters expected unit sales and the $80 is the average unit selling

price that we would apply to each of those units for the year and total.

The production budget look slightly more complex than the sales budget.

And that has to do with the fact that we need to account for

inventory throughout the year.

You can see each quarter's expected unit sales as informed by the sales budget.

GnG has a policy that requires a 25% amount of inventory,

and the ending inventory of 1 quarter to meet the needs of the next quarter sales.

So for the quarter 1, in order to meet the expected unit sales for quarter 2,

we need to have 1,000 units on hand at the end of that quarter.

25% of the 4,000 that's required in quarter two.

Therefore, in quarter 1 giving the unit sales of 3,500 and

the desired ending inventory over 1,000, we are required to have

4,500 in unit, 4,500 units generated during quarter 1.

Of course, we had inventory on hand at the beginning of this quarter,

as projected by 25% of this quarter's expected unit sales.

25% of expected unit sales for this quarter of 3,500 is 875.

Those are units that we don't actually need to produce during quarter one,

because we had them on hand already.

So the total required units of 4,500 less,

the beginning inventory of 875, identifies the required production in units for

the current quarter and that is 3,625 units.

A similar pattern can be applied to quarter 2,

expected unit sales is 4,000, again informed by our sales budget.

We know what the beginning inventory is.

That's the 1,000 units that we had as our ending inventory at the end of quarter 1.

The desired ending inventory for quarter 2 is 25%

of quarter 3 projected sales or 800 units.

Again, that's 25% of the 3,200 units that we expect to sell in quarter 3.

The total number of units that we need to have in quarter 2 is the 4,000 plus 800 or

4,800, we can subtract the 1,000 that we had on hand at the end of quarter 1.

To find out what the required production during quarter 2 is, and

that amounts to 3,800.

A similar logic and pattern can be applied to quarters three and quarters four.

Using again that same policy of having 25% of the next

periods expected unit sales on hand in the form of ending inventory.

And so, throughout the entire year, quarters one to four aggregated.

The annual production is 15,875 units.

Now, the production budget informs many other component budgets.

All of the cost associated with producing this goods need to have its own budget.

That would be direct materials, direct labor, and overhead.

With respect to direct materials

we can use the number of units that need to be produced each quarter

to generate information regarding what our expected cost is for materials.

Let's start at the beginning.

We know from our production budget,

how many units we need to produce each quarter.

Now, we need to understand what our usage of direct materials is

to produce those individual units.

And let's assume that we need 3 kilograms of direct materials for

each unit that we produce.

So for quarter 1, we need 3,625 units that will be produced during that quarter,

and 3 kilograms of direct materials for each of those units.

So in all, we need 10,875 kilograms for the production for quarter 1.

We also have a similar policy for direct materials in terms of image

required inventory at the end of the quarter.

And the policy is to have 15% of the next quarter's

direct materials needs on hand at the end of the preceding quarter.

So if we need 3,800 units to be produce during quarter 2 and

we need 3 kilograms of direct material each of those units,

we need 11,400 kilograms during quarter 2.

15% of that number is 1,710.

Again, that is the desired ending direct materials inventory

that's required at the end of quarter one in order to meet the needs of quarter two.

So taking into account that desired ending inventory as well as the current quarters

material needs, 10,875 plus 1,710 results in the total

merit materials require of 12,585 kilograms.

Now, just like at the end of quarter one we'll have and ending inventory that leads

us in to the quarter two so did we have that at the end of the previous quarter.

That was 15% of the total kilograms that we needed during quarter 1.

Or 15% of the 10,875 we computed above.

That amounts to 1,631 and

that was last quarters ending inventory which is quarter 1's beginning inventory.

We can subtract this amount from the total materials required

because we don't need to purchase those as we already have them on hand in inventory.

So the amount that we ultimately need to purchase during quarter

1 is 10,954 kilograms.

Calculating and projecting the cost of each kilogram,

we come up with a figure of $5 per unit.

And so, of all the materials that we purchase,

10,954, we pay on average $5 for each of those kilograms.

The total cost for quarter 1 of all of our direct materials purchases is $54,769.

Now, let's go through one more quarter just to make sure that we're all on

the same page here.

Again, our units to be produced,

as informed by our production budget is 38,000.

We need three units of direct materials for

each of those units that we plan to produce.

Amounting to 11,400 kilograms.

The beginning inventory, which is the ending inventory from quarter 1, is 1,710.

So we can throw that into our spreadsheet.

The desired ending direct materials at the end of quarter 2

is generated by 15% of quarter 3's requirements, or 1,620.

Again, that would be 15% of the total kilograms needed during quarter 3.

So 15% times 10,800 is 1,620.

Adding that desired ending inventory to the total kilograms needed,

means that we need a gross number of 13,020 kilograms.

Given that we started with last quarter's ending inventory,

we don't have to purchase the entire amount,

we only need to purchase 11,310 kilograms of direct materials.

The cost of $5 per kilogram yields a total cost during quarter 2 of $56,550.

Similar calculations can be made for quarter three and quarter four.

And the sum of all the cost of direct materials purchased

during the entire year is $240,469.

Slightly less complex is the budget for direct labor.

The reason why it's less complex is because labor is not inventory.

Of course, we know how many employees we have on hand, but

we don't really account for their value before the work is completed.

So therefore, the budget for direct labor is a little bit more straightforward,

in terms of capturing current period costs without the need to account for inventory.

So in terms of the direct labor budget, that is generated by our production level.

Again, we have the information related to each quarters units to be produced from

our production budget.

Based on our understanding of the activities required to produce each unit,

direct labor is estimated to take three hours for each of the units produced.

So in quarter 1, 3,625 units to be produced using 3

hours each is 10,875 direct labor hours.

The cost for each of those direct labor hours is estimated to be $10.

This is the amount of wages that we pay,

at least on average to the employees that we classify as direct labor.

$10 for each of the hours that we will use in quarter 1,

amounts to $108,750.

In quarter two, we have some more information.

Again, three hours for each of the units.

But given that we have a different number of units to be produced,

our total required direct labor time is slightly higher.

Let's assume that we pay them the same amount in quarter 2 as we do in quarter 1,

and that yields an estimate of the total cost of direct labor of $114,000.

In quarter three, we have similar information to be applied there.

Except let's assume that over time, our average wages go up.

In quarter 3 and quarter 4, our wage per hour is on average $12 per hour.

Using that revised rate, we can calculate the quarter three and

quarter four total cost of direct labor.

And summing up across all quarters, we come up with an estimate of

$526,950 as far as projected costs for direct labor for the entire year.

Now, let's continue with the Overhead Budget.

In reality this is one of the more complex components budgets.

Just given the nature of the different types of cost of that are comprise,

that comprise over head.

Again, it's a pretty large category.

So we'll over simplified things just for

the purposes of demonstrating the budgeting process.

Let's assume that we have a variety of variable and fixed overhead costs and

we broke them down by category.

We would go through a very complex budgeting process to come up with

estimates of what of each costs would be and

of course how complex each process is depends on the nature of those costs.

Terns of variable overhead, we would use the amount of units that we were produced

each quarter to generate what are estimates of variable overhead would be.

And let assumed that we come up with numbers for indirect materials, indirect

labor, electricity, water and other utilities and repairs and maintenance.

And we can calculate a total variable cost for each given quarter.

Fixed cost might be estimate based on what our level of capacity is and so

we may identify managerial salaries to depreciation of our machinery and

equipment, insurance and taxes and

whatever else constitute the fixed overhead cost.

And we would come up with a total for the quarter again as estimated

we are understanding of the business and the spending required to run it.

So our total manufacturing overhead in this situation would be a sum of

all of our variable and our fixed over head costs and

we can estimate what those costs will be for quarters two, three, and four.

As you can see,

the amount of variable costs fluctuates over the individual quarters, because

variable overhead tends to fluctuate at least somewhat with production level.

Fixed costs remain constant over that time period.

Perhaps, because these costs are contracted.

It doesn't matter how much.

We'll use our capacity.

It's just the amount that we spent to have it.

Let's assume that GnG uses direct labor hours as the basis

by which we apply overhead to our products.

Meaning that for each products use of direct labor,

we tack on a little bit more of overhead for each of those hours.

So using our direct labor budget

we would have our direct labor hours that we use each quarter.

And the total manufacturing overhead for the year amounts to $373,000.

The annual total direct labor hours is the sum of the direct labor hours from each

quarter and we can up with a sum of approximately $7.84 per direct labor hour.

Again, what this means is that for every direct labor hour that a product uses,

it get's assessed a $7.84 charge for each year of overhead cost.

Now, there's one more component budget and has less to do with production and

more with to do with other sources of infrastructure and cost, the Selling and

Administrative Budget.

Rather than be driven by our production, the selling and

administrative budget costs are generated by sales.

So we have to go all the way back to our sales budget

to identify what our budgeted sales are for each quarter.

And we can populate our spreadsheet with those figures.

Just like overhead, selling an administrative costs can be classified

as variable and fixed, and let's assume that we have that breakdown and compute

things like commissions costs and shipping costs to calculate what our total variable

expenses will be, based on the 3,500 units that we would sell during quarter 1.

We also have estimates of our fixed expenses, such as marketing and

advertising, salaries and other expenses.

And so, for each quarter, we can calculate what our total selling administrative

expenses are projected to be.

Similarly we can do the same thing for quarter two, three and

four to calculate the total annual selling and administrative expenses.

In this case, we've estimated $166,000 for a total selling and administrative costs.

So now let's take all of this information and

put it into a budgeted income statement.

This is a pro forma or projected income statement for the year for

which we just engaged in the budgeting process.

Going back to the sales budget,

we knew that our total sales revenue was projected to be $1,240,000.

Our cost of goods sold will be comprised of our direct materials,

direct labor and overhead spending.

And that amounts to approximately $1,062,000.

The difference between these 2 is approximately $178,000.

For the last budget that we completed,

selling an administrative expenses are projected to be $166,000.

And subtracting that from our gross margin gives us our operating profit

of just under $12,000.

Other budgets can be computed to calculate estimates for interest and taxes.

And assuming that we have done that, we can also ultimately

calculate our net income to be $7,707, for the year.

So now what do the owners and managers do with all of this information?

Well, first off, they assess this efficiency of all of the budgets,

including the budgeted income statement.

If they're happy with projecting that net income,

then they move forward with this master plan.

But if not, they might go through multiple iterations to revise the budget,

to increase accuracy, identify risks, and achieve buy-in by the managers and

employees who are subject to it.