Managerial Accounting Written Case
For this case, you will be responsible for preparing a memo in a Word document to address the situation. Memo formats are available in Word under File, New, Search on Professional Memos or Memos for options. You can select a format or create your own memo in Word. If you create your own, be sure to follow general memo format rules.
Detailed Instructions:
In a business setting, we are often asked to write a memo to communicate with internal and external professionals. This assignment further advances your communications within an organization through the use of a memo.
Background:
As the Controller at your company, you have been asked to support the budgeting process. For several years now, employees have not been in favor of budgeting. In fact, department managers have often expressed their degree of stress and feeling uncomfortable about the budget process and performance evaluations. This year your CFO wants to try a different approach to promote employee support of the budget and, in turn, the organizational goals. With more employee feedback, the upper management can develop a more inclusive, advanced budgeting tool.
The CFO has asked you to develop a memo to be sent to company supervisors. The memo will introduce the company’s new budget approach and explain the advantages of budgeting. The new budget approach is a participative budgeting process as opposed to less input on the part of employees. The desire is for company supervisors to obtain feedback from their team to submit a more collective budgeting tool for consideration from their area of responsibility.
In consideration of the background, prepare a memo in a Word document to submit to the company supervisors with a cc to the CFO.
Your first paragraph would be an invitation to a budget workshop to be held in a few weeks on February 10th in the company event room from 10:00 am to noon.
Next, you will explain that the workshop will discuss a participative budgeting process. Therefore, you will need to explain what a participative budgeting process means.
Next, you will want to explain the advantages of budgeting. This will set the tone for the upcoming workshop. Therefore, it is important to name and discuss at least three reasons why budgeting is important to the organization.
Finally, add a closing paragraph to encourage company supervisors to attend the meeting, be prepared to ask questions on behalf of their team, and offer initial ideas for relevant projects for your company.
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