Budgets play a critical role in management activities such as planning, controlling and motivating employees. Used effectively, budgets can help a company achieve its goals and create a productive work environment. In contrast, budgets can also create a hostile work environment. Watch this video about budgets and employee morale and then reflect upon your own work experiences. Explain how budgeting was incorporated to achieve the company’s overall goals and objectives. Reflect on whether or not the budgets were effectively applied and whether your experience was positive or negative.
Chester & Wayne (Essay Question)
Complete: Case 6B (Chester & Wayne).
In this case, you have been provided financial information about the company in order to create a cash budget. Management is seeking advice or clarification on three main assumptions the company has been operating. Address Questions 1 and 2 at the end of the case. Based on the case questions, you are required to provide a two to four double-spaced written report providing the necessary advice and explanations to management. The written report should be properly formatted according to APA guidelines and demonstrate research and critical thinking skills. Conclusions and recommendations should be supported by at least 2 scholarly sources from the Ashford Library or other external sources, excluding the textbook.
Address Question 1 by using a spreadsheet to prepare the case budget for the fourth quarter. The cash budget should be included as an appendix to the written report and should be referenced in the written report.
Address Question 2 in a fully developed explanation of two to four double spaced pages to present the findings and explain or validate the assumptions stated in item (a) through (c). In addressing Question 2, be sure to use the cash budget prepared in Question 1 as support for your explanation. The written analysis should be supported by at least two scholarly sources, excluding the textbook.
Week 4 Written Assignment should:
- Demonstrate graduate level work including appropriate research and critical thinking skills.
- Be presented as a written analysis (not a question/answer format).
- Incorporate case questions into the overall analysis.
- Follow APA formatting guidelines including title page, reference page and in-text citations.