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Managerial Accounting For Dummies by Mark P. Holtzman

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Chapter 14

Master Budgets: Planning for the Future

In This Chapter

arrow Planning enough production to meet customer demand

arrow Arranging for materials, labor, and overhead

arrow Making sure you have enough cash flow

arrow Budgeting for retailers and service companies

Two summers ago, I took my three Jersey boys on a cross-country camping trip, visiting Yellowstone National Park, Yosemite National Park, and Grand Canyon National Park. Along the way, we took detours through Chicago; Bozeman, Montana; San Francisco; Palo Alto; Beverly Hills; Las Vegas; Phoenix; San Antonio; and Miami Beach (not a typo).

Planning took about four months. After some negotiations, we agreed to the three primary destinations. Then we worked out an itinerary spreadsheet that specified driving times, side trips, and where we’d sleep every day over seven weeks. I used this itinerary to prepare a detailed budget, estimating the cost of food, gas, campsites, motels, and long-lived equipment. Finally, we booked it.

Don’t worry; I’m not bringing up my vacation so I can show you my photo slideshow. I tell this story to illustrate that ...

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