Explain the Different Types of Planning for the Different Levels

question 28

Essay

Explain the different types of planning for the different levels of management.Include the typical time frame for which each plan is created.

---

Definitions:

Direct Materials Budget

A financial plan that estimates the quantity and cost of direct materials needed to meet production requirements.

Cash Payments

Monetary transactions involving the transfer of cash from one party to another, usually in exchange for goods or services.

Budgeted Cash Payments

An estimate of all cash payments that a company plans to make over a specified period, often part of a comprehensive budgeting process.

Continuous Twelve-Month Budget

A financial planning document that forecasts revenues and expenses on a rolling monthly basis for a year.