# 12 Page Paper in Financial Accounting for Managers

Combat Flip Flops (https://www.combatflipflops.com/),
a specialty store, is the company that will be considered for all parts of your
budget planning and control report. For this assignment, you will develop a Twelve
(12) page paper in which you address the following.

1. Briefly
discuss the ways a realistic budget will benefit the owner of Combat Flip
Flops versus having no budget at all. Be sure to use Combat Flip
Flops (https://www.combatflipflops.com/)
as the company and any specific product details in your explanation.
2. Prepare
a sales budget for Combat Flip Flops store for the 4th quarter of 2016. Present
the number of units, sales price, and total sales for each month; include
October, November, and December, and a total for the quarter.
Use
one-half of the Veteran’s Day sales as the basis for a usual day in the
new quarter. Use 30 days for each month. Calculate the total sales for
each month for October, November, and December 2017.Include an end of 2017 INCOME STATEMENT
3. Create
three (3) new products, one (1) for each of the three (3) holiday seasons
in the 4th quarter (Veterans Day, Thanksgiving, Christmas). Estimate the
sales units, sales price, and total sales for each month. Describe the
assumptions used to make these estimates. Include an overview of the budget
in the report, presenting the actual budget as an appendix with all data
4. The
owner of Combat Flip Flops is interested in preparing a flexible budget
rather than the static budget he currently uses. He does not understand
why, when sales increase, his static budget often shows an unfavorable
variance. Explain how a flexible budget will overcome this problem. Use
the details of your newly prepared budget for the 4th quarter of 2017 to
least one (1) graph or chart the shows the difference.
5. Imagine
that Combat Flip Flops is facing a financial challenge that is causing the
actual amount of money that it spends to become significantly more than
its budgeted amount. Include a discussion of your own unique cause of the
overspending. Explain the corrective actions needed to address these
challenges.Finally, include a
BALANCE SHEET for end of year 2017 (Real or Made Up).
6. Integrate
relevant information from at least five (5) quality academic resources in
this assignment. Note: Please do not use your
textbook as an academic resource. Also, Wikipedia and other Websites that
are unreliable do not qualify as academic resources.

• Be
typed, double spaced, using Times New Roman font (size 12), with one-inch
margins on all sides; references must follow APA or school-specific format.
• Include
a cover page containing the title of the assignment, the student’s name,
the professor’s name, the course title, and the date. The cover page and
the reference page are not included in the required page length.
• An
abstract is not required.

The specific course learning outcomes associated with this
assignment are:

• Evaluate
management control systems and examine their relationship with accounting
and planning, including feedback and non-ﬁnancial performance
measurements.
• Evaluate
decision-making tools for capital investments, budgeting, and budgeting
controls.
• Analyze
financial accounting tools and techniques that convert financial
accounting data into information for decision making.
• Use
technology and information resources to research issues in financial
accounting for managers.
• Write
clearly and concisely about financial accounting using proper writing
mechanics.