Budgeting Plan for NVOCC Worksheet


Paper Information:You will be creating a Budgetary Plan for a company you would like to open in the future (it cannot be an existing company and should be based on the company you mentioned in your introduction) or a department you would like to manage. You will provide a very brief overview of your company, your ideas on budget planning and controls along with 2 sample budgets (Cash Budget and the Selling and Administrative Budget) prepared using Excel.

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Student’s Name
Accounting for Decision Makers
Professor’s Name
*Keep the headings in bold and remove the instructions as you create your paper. (Need 8 pages
not including the cover, abstract or reference page)
A basic overview of your research, goes on its own page less than 250 words
An overview of what you intend to cover in the paper, be sure to include all required sections
Company Overview
This is a small company you make up not an existing company. It may be a company you would
like to open some day, a company similar to where you work now or have worked in the past,
etc. This section should not be more than 1 page.

Type of company- ex. a small specialty retail store in Ft. Lauderdale, an assisted living
facility in Miami, a law office, home health agency, clinic, etc.
Company structure – ex. sole owner, partnership, corporation, LLC etc. and why that
structure was selected
The products or services offered at this small company (limit this no more than 3
products or services)
Type of operation- ex. new facility existing facility, online, home business, etc
Number of employees including the owner(s) and their basic job titles–ex. office
manager, full-time nurse, part-time front desk clerk, etc.
Budget Planning

Who would you involve in the actual budget planning process and why – ex all
employees, just managers, just owner, etc. and why based on what you learned in this
What type of input do you need for your budgets and why- ex. office managers to
estimate next year’s equipment needs, full-time nurse to estimate patient supplies, etc.
Budget Samples

Embed the two sample budget reports learned in class (Cash Budget and Selling and
Administrative Expense Budget) using Excel and justify your budget numbers for this
new company. For example, rent is based on the market rate in the area of $4,500 per
month or salary expense is estimated at $60,000 for the office manager and $15 per hour
for the part-time front desk clerk, etc.
Be sure the samples relate directly to the company you selected in your introduction. For
example, if you say your company is online only and you work from your house there
may not be rent expense, but there will be internet connection fees and so on.
Budget Controls

State how you would ensure the company stays within the budget you planned- ex.
monthly budget meetings, special reports, incentives, variance analysis, etc.
How would you go about controlling any significant variances from the budget to actual
numbers? Who would be involved in this -ex. all employees, managers, owners and so
State any ethical concerns associated with your budget plan and/or controls you would
need to keep in mind.
Provide a summary/highlights of your paper
Provide recommendations for other budgets learned in class you think would be helpful
for your company.
List sources in alphabetical order, goes on its own page, and need 5 scholarly references. Be
sure to use the Library along with other peer-reviewed publications.

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