Master Budget through Financial Statements

• In Event: Master Budget through Financial Statements

Session Submission Type: Paper Session

Abstract

The session will demonstrate a Master Budget project that groups of students must prepare in Excel. The project is designed not only to require the preparation of a Master Budget through Financial Statements for a merchandising company (including borrowing and repayment of operating funds), but also to require demonstration of specific Excel skills (e.g., proper formatting, use of range names to make formulas self-documenting, use of ROUND to prevent footing errors, VLOOKUP, IF for simple error checks, and the proper use of input cells to allow the spreadsheet to automatically update when initial assumptions are changed). The project could be adapted for use in a manufacturing company.
The session will demonstrate an Excel template for this project which is fully customizable so as to provide each group with a different scenario with minimal effort on the instructor’s part.
Intended audience: academics who teach introduction to managerial accounting course looking for class project. Project can also be appropriate for cost managerial.
Learning Outcomes for the Session:
1. Participants will understand how to implement a customizable Master Budget group project.
2. Participants will, if desired, receive a copy of the Master Budget template file in Excel complete with student handout, solution, and grading rubric.
Session format will be an interactive presentation if participants bring a laptop with Microsoft Excel.
Instructional in how to manipulate project for multiple versions.

Sub Track

• AAA Southeast Regional Meeting

Presenters

• Monica Mendoza, Stetson University

• Bonnie B. Holloway, Stetson University