Assessment 1 – MBA­FP6154 ­ Spring 2016 ­ Section 01


Assessment 1 – MBA­FP6154 ­ Spring 2016 ­ Section 01

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https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34957_1&content_id=_3485302_1&mode=reset 1/3 ASSESSMENT 1 The Role Of Budgets Overview Write a 4–5 page analysis of how management should alter its approaches to budgeting when switching from a nonprofit organizational structure to a for­profit company. The four roles of management in budgeting are quite different in for­profit companies and nonprofit organizations. The objective of this assessment is to distinguish the critical differences between them. By successfully completing this assessment, you will demonstrate your proficiency in the following course competencies and assessment criteria: Competency 1: Analyze budgeting practices in for­profit and nonprofit organizations. Compare approaches that for­profit and nonprofit organizations take when creating budgets. Analyze differences in how for­profit and nonprofit entities use their budgets. Competency 4: Manage budget planning, executing, controlling, and reporting. Discuss budget reporting requirements. Competency 5: Manage the budget gaps between planned expenditures and actual needs. Discuss budget gap management techniques. Competency 6: Communicate in a manner that is consistent with the expectations of a business professional. Communicate effectively in written documents that follow APA format, and consistently using the grammar, punctuation, and mechanics expected of a business professional. Competency Map Check Your ProgressUse this online tool to track your performance and progress through your course. Context As you begin your exploration into budgeting, it is important to understand the role of budgets within any organization. Whether the entity is a for­profit business or nonprofit organization, managers rely on budgets as a tool for planning, controlling, motivating, and evaluating. Questions to Consider Details Attempt 1 Available Attempt 2 Attempt 3 5/11/2016 Assessment 1 – MBA­FP6154 ­ Spring 2016 ­ Section 01 https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34957_1&content_id=_3485302_1&mode=reset 2/3 To deepen your understanding, you are encouraged to consider the questions below and discuss them with a fellow learner, a work associate, an interested friend, or a member of the business community. What role do budgets have within any organization? How does management use budgets to achieve the company’s goals and objectives? Should every company or organization have a budget? Why or why not? Resources Suggested Resources The following optional resources are provided to support you in completing the assessment or to provide a helpful context. For additional resources, refer to the Research Resources and Supplemental Resources in the left navigation menu of your courseroom. Capella Multimedia Click the links provided below to view the following multimedia piece: Budgeting | Transcript Course Library Guide A Capella University library guide has been created specifically for your use in this course. You are encouraged to refer to the resources in the MBA­FP6154 – Budget Planning and Control Library Guide to help direct your research. Internet Resources Access the following resources by clicking the links provided. Please note that URLs change frequently. Permissions for the following links have been either granted or deemed appropriate for educational use at the time of course publication. Bookboon.com. (n.d.). Retrieved from http://bookboon.com/en/accounting­ebooks Principles of Accounting. (2015). Chapter 21: Budgeting: Planning for success. Retrieved from http://www.principlesofaccounting.com/chapter21/chapter21.html Bookstore Resources The resources listed below are relevant to the topics and assessments in this course and are not required. Unless noted otherwise, these materials are available for purchase from the Capella University Bookstore. When searching the bookstore, be sure to look for the Course ID with the specific –FP (FlexPath) course designation. Garrison, R. H., Noreen, E. W., & Brewer, P. (2015). Managerial accounting (15th ed.). New York, NY: McGraw­Hill. Chapter 8, “Master Budgeting.” Assessment Instructions Write a 4–5 page analysis of how management should alter its approaches to budgeting when switching from a nonprofit organizational structure to a for­profit company. Include in your analysis a discussion of the four roles of management in budgeting: planning, 5/11/2016 Assessment 1 – MBA­FP6154 ­ Spring 2016 ­ Section 01 https://courserooma.capella.edu/webapps/blackboard/content/listContent.jsp?course_id=_34957_1&content_id=_3485302_1&mode=reset 3/3 controlling, motivating, and evaluating. Address the following: 1. Compare approaches that for­profits and nonprofits take when creating budgets. 2. Analyze how budget use would change. 3. Discuss a how a for­profit might manage the budget gaps between planned expenditures and actual needs differently. 4. Discuss how reporting requirements change. Does the change in target audience alter the reporting? Explain your answer. Additional Requirements Written communication: Written communication is free of errors that detract from the overall message. APA formatting: Resources and citations adhere to APA style and formatting. Length of paper: 4–5 pages. Font: Times New Roman 12 point. The Role of Budgets Scoring Guide View Scoring Guide Use the scoring guide to enhance your learning. How to use the scoring guide [U01a1] The Role Of Budgets Write a 4–5 page analysis of how management should alter its approaches to budgeting when switching from a nonprofit organizational structure to a for­profit company. Submit Assessment This button will take you to the next available assessment attempt tab, where you will be able to submit your assessment. U01a1:The Role Of Budgets >V>iew/Complete U01a1:The Role Of Budgets: Revision 1 >V>iew/Complete U01a1:The Role Of Budgets: Revision 2 >V>iew/Complete

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