FINA425

Unit 3 – Submission AssignmentMain DetailsHistoryExtraOne submission required. No submissions uploaded yet.FINA425 Unit 3 – Submission Assignment0 / 5 attemptsUpload

Instructions

You will create this assignment following the Assignment Detail instructions below.

Review the tutorial titled How to Submit the Intellipath Submission Assignment.

Please submit your work to this week's Intellipath Unit Submission lesson. Click the Upload button within the submission lesson to access the submission area. Click the Select File button to upload your document, and then click “OK” to finish.

Assignment Details
You were recently hired as management director of the new I Can Business Incorporated (ICBI). You have been asked to establish policies and systems for the business. The first one you choose to work on is a financial reporting system.

For this assignment, you must develop a 4–5-page memo that you will deliver to the board of directors of ICBI. You will describe what a financial reporting system is and explain how management of ICBI should use an activity based budget instead of an operating budget. Be sure to explain the similarities and the differences of the two. Finally, give examples of budget guidelines for ICBI. You must answer the following questions:Describe the meaning and the components of a financial reporting system.Explain the budget cycle and process.Write a description of how management should use an activity based budget instead of an operating budgetExplain the similarities and differences of the two budgetsGive an example of budget guidelines that ICBI should follow in order to successfully plan.

Identify and describe at least 5 basic budget guidelines.
Unit 3 – Submission AssignmentMain DetailsHistoryExtraOne submission required. No submissions uploaded yet.FINA425 Unit 3 – Submission Assignment0 / 5 attemptsUpload

Instructions

You will create this assignment following the Assignment Detail instructions below.Review the tutorial titled How to Submit the Intellipath Submission Assignment.

Please submit your work to this week's Intellipath Unit Submission lesson. Click the Upload button within the submission lesson to access the submission area. Click the Select File button to upload your document, and then click “OK” to finish.

Assignment Details
You were recently hired as management director of the new I Can Business Incorporated (ICBI). You have been asked to establish policies and systems for the business. The first one you choose to work on is a financial reporting system.

For this assignment, you must develop a 4–5-page memo that you will deliver to the board of directors of ICBI. You will describe what a financial reporting system is and explain how management of ICBI should use an activity based budget instead of an operating budget. Be sure to explain the similarities and the differences of the two. Finally, give examples of budget guidelines for ICBI. You must answer the following questions:

Describe the meaning and the components of a financial reporting system.Explain the budget cycle and process.Write a description of how management should use an activity based budget instead of an operating budgetExplain the similarities and differences of the two budgetsGive an example of budget guidelines that ICBI should follow in order to successfully plan.Identify and describe at least 5 basic budget guidelines.