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ACCT 461 Week 3 Discussion Latest

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ACCT 461 Week 3 Discussion Latest

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.