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
   (Real or Made Up)
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
   and calculations. Add these amounts to your sales budget.
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
   address his concern.Insert at
   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.

Your assignment must follow these formatting requirements.

• 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.
  Check with your professor for any additional instructions.
• 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.