Question

 

plan, promotes coordination and communication, and provides a benchmark for evaluating actual performance.

• Describe a situation where a topic (a concept, one learning outcome) from the chapter is applied outside the classroom. In your career? Your personal life? A current event? Another class?

• Did you describe this topic (concept, learning outcome) in a few sentences with enough detail to indicate that you understand the concept? You do not need to summarize the entire chapter.

• Does the topic you described relate to the situation or incident that you described? (For example, do not describe the IMA Statement of Ethics, then explain how you walked into Best Buy and immediately saw a service company, the Geek Squad, a retail operation with electronics for sale, and manufacturing operations as Sony, Toshiba, and LG products are all lined up for sale. A better choice would be to describe the accounting differences between the types of businesses, then describe what you saw when you walked into Best Buy.)

Answer 1

Apply the budget benifits...

1-- plan, promotes coordination.........actual performance.

Planning:

A budget is a detailed plan of action regarding the policies to be pursued over the budget period. Budgeting makes it mandatory for the management at all levels to plan the future activities in advance. Many problems are anticipated well in advance before they arise at the time of preparing the detailed plans relating to the different functional areas of management. The solutions for these anticipated problems can be found in advance.

Coordination:

One of the prerequisite for the effective budgeting is the coordination among the different departments within the organization. It is the coordinated effort of all the divisions that a budget can be prepared. For example, in the preparation of a materials purchase budget, the information regarding budgeted sales, budgeted production, and budgeted usage of the material in the production activities is required. A coordinated effort of all the concerned departments will only ensure the correct materials purchase budget. Therefore, budgeting will ensure that all the individuals and departments work as a team in the attainment of the common goals.

Communication:

A budget is an effective means of communication between the top-level management and the operative level. Generally, these budgets become an important source of information regarding policies to be implemented in the attainment of organizational goals. It brings clarity to the middle and lower levels of management regarding the policies to be pursued.

     Performance Evaluation:

The performance of the individual can be rated on the basis of their actual performance in comparison with the budgets set. This performance evaluation becomes the basis for many HR decisions relating to transfers, promotions, and bonuses.

2-- Describe a situation where a topic ( a concept one learning outcome) ..........another class?

Learning outcomes are statements that describe the knowledge or skills students should acquire by the end of a particular assignment, class, course, or program, and help students understand why that knowledge and those skills will be useful to them.

Good learning outcomes emphasize the application and integration of knowledge. Instead of focusing on coverage of material, learning outcomes articulate how students will be able to employ the material, both in the context of the class and more broadly.

3- Did you describe this topic............. The concept.   Learning outcomes are measurable achievements that the learner will be able to understand after the learning is complete, which helps learners understand the importance of the information and what they will gain from their engagement with the learning activity.

A well-written learning outcome will focus on how the learner will be able to apply their new knowledge in a real-world context, rather than on a learner being able to recite informatioI.

4-- Does the topic you describe.......into best buy.

In May, Best Buy will begin "consultation services" in about 200 U.S. stores, where customers will be able to schedule appointments, according to a corporate blog post Tuesday. Each customer will have a dedicated sales associate, so there will be a limited number of people in the store "at any one time to ensure appropriate social distancing," the company said.

• Geek Squad provides Best Buy customers with after-sales service support. Geek Squad was originally started by Robert Stephens in 1994. The company offered residential and commercial on-site computer repair services

For entry-level sales, stock, and cashier jobs, Best Buy implements very basic proceedings. Candidates receive phone calls or emails to attend job interviews at a desired location and then sit with hiring staff through one or two brief sessions to determine eligibility.