ACCT 461 WEEK 3 DISCUSSION LATEST
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ACCT 461 Week 3 Discussion Latest
ACCT461
ACCT 461 Week 3 Discussion Latest
Week 3: Building a Budget
Within each discussion thread, one post will be made using Voice
Thread, 2-4 minutes in length, explaining either an article on the discussion
topic, or assignment work you have done in relation to the discussion topic.
Students will review and respond to at least one other student’s Voice Threads,
keeping interaction positive, professional and constructive.
A few months ago, you were hired into a professional position by
a fairly large organization. Your department’s supervisor has just called you
into her office and begins by saying she’s quite impressed with your initiative,
communication, and organizational skills, and for this reason she’s tasking you
with drafting the department’s budget for the upcoming fiscal year. Of course,
as the department supervisor, she is still the one who’s ultimately responsible
for approving and executing this budget. However, because she’s so busy
managing many departmental issues, she’s specifically delegating to you the
legwork involved in composing this budget. Your supervisor is requiring you to
submit your first draft of the department’s budget for her approval in 3 weeks.
How would you go about creating a solid, realistic budget? Where would you
begin? What steps would you take to work this task? What specific challenges
might you face in this process, and how would you address each of them? Feel
free to begin your postings for this week by addressing any one or more of
these questions.
As the week progresses and we accumulate more comments from
everyone in the class, we’ll be able to compare all of the ideas and
suggestions to further discuss what might be the most workable approach to
building a sensible, credible budget for a department. Finally, near the end of
the week, we’ll further extend the discussion by asking you to add your
thoughts on how drafting a budget for your own small business might differ from
the process of budgeting for a single department within a larger organization.
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