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MT425 Unit 8 Discussion Question 1

MT425 Unit 8 Discussion Question 1
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MT425 / MT 425
Managerial Finance and Accounting
Kaplan University (KU Campus)

James Jiambalvo
Managerial Accounting, 4e
Hoboken, NJ: John Wiley & Sons.

Unit 8: Budgets and Performance Evaluation

Unit 8 Discussion Question#1
The discussion topic exercise brings you to Pennsylvania's Office of the Budget. Although budgets for corporations are internal documents and are therefore private, governments must adopt budgets in a formal political process. These budgets are a required part of external financial reporting and are therefore public documents.

Review Pennsylvania's 2006-2007 budget, and compare it to information about the budgeting process outlined in Chapter 10 of Managerial Accounting. You will draw on this information as you complete the Discussion that follows this Web Field Trip. (Note: this document is long and detailed; you may want to skim to get the general idea.)

Note: You need Adobe Acrobat to view this file. You can download it when you click on 2006-2007 Budget in Brief.

Review the PA 2006-2007 Budget in Brief.

Based on your Web Field Trip, name some ways a state budget is similar to a company's budget. Name some ways in which it is different.



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