Financial Planning

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Board Exam LeadingManageChange (Financial/Strategy) Flashcards on Financial Planning, created by Michael Riben on 09/10/2013.
Michael Riben
Flashcards by Michael Riben, updated more than 1 year ago
Michael Riben
Created by Michael Riben about 11 years ago
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Question Answer
what is a capital budgeting? planning process for expenditure of large sums of long term assets
What is the operating budget? detailed projection of estimated income and expenses based on forecasted revenue during a period
what are the components of an operating budget? projected profit and loss statement, supporting cash flow statement and balance sheet
what is Depreciation To lower the price or estimated value of , particularly of a long term asset that has diminishing value over time
what is Net Present Value? the difference btw the present value of all cash IN- flows and the present value of all cash OUT-flow, used to determine whether a project is acceptable investment
what is Net Present Value? the difference btw the present value of all cash IN- flows and the present value of all cash OUT-flow, used to determine whether a project is acceptable investment
what is difference btw financial and managerial accounting? managerial concerned with info for managers, financial is concerned with information for stockholders or outside organization
What is included in Managerial accounting? accounting information (budgets, contolling reports, tools for organizing and directing , and decision making
what are managerial accounting principles? focuses on data for managers, more emphasis on future, more on non-monetary data, segments rather than whole organization, not governed by generally accepted accounting principles
list tools of managerial accounting? fixed/varaible costs Profit/loss statements Operating Margine CostvsVolumevsProfit analysis
what is a statistical Budget? Budgeting for "what -if" scenarios
what is revenue budget? Revenue receipts of government and the expenditure met from these revenues
what is a cash budget? a prediction of future cash receipts and expenditures for a time period
What is Net Present Value? Value of sum of future cash flows in today's dollars
what is the highest cost for Hospitals? Salaries, wages, benefits
what is a time value analysis? The difference btw the future value of a lump sun and the current value of a lump sun
what is a balance sheet consists of? Assets = Liabilities + Equity
what does an income statement consist of? Operating earnings = Gross Profit – (Operating Expenses + Depreciation)
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