Budget Process

So your new accountant could practice the budgeting process in your for-profit company, you want her to compare budgeting methods for two different kinds of entities.

You give her information for a for-profit and for a nonprofit entity and ask her to complete the following:

Given the assumptions and data in this Excel file:
complete next year's budgeted figures for each entity within the same Excel worksheet (yellow cells)
include your reasoning for most of the budgeted figures (green cells)
Because of a bad recession, government grants were not cut by 50% but are eliminated completely for next year's budget and fundraising efforts—despite an increase in expenses—did not improve at all.

Write a memo of 300-400 words explaining what you would recommend that the museum manager do.
Please submit your assignment.

The following grading criteria will apply to this assignment:

Grading Criteria

50%

Complete next year's budgeted figures for each entity within the same Excel worksheet (yellow cells).

30%

Include your reasoning for most of the budgeted figures (green cells).

20%

Write a memo of 300-400 words explaining what you would recommend that the Museum Manager do.

For assistance with your assignment, please use your text, Web resources, and all course materials.

Unit Materials

Unit 5