Unit 2 Individual Project 4-5 page memo

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You were recently hired as management director of the new I Can Business Incorporated (ICBI). You have been asked to establish policies and systems for the business. The first one you choose to work on is a financial reporting system.

For this assignment, you must develop a 4-5 page memo that you will deliver to the board of directors of ICBI. You will describe what a financial reporting system is and explain how management of ICBI should use an activity based budget instead of an operating budget. Be sure to explain the similarities and the differences of the two. Finally, give examples of budget guidelines for ICBI. You must answer the following questions:

Describe the meaning and the components of a financial reporting system.
Explain the budget cycle and process.
Write a description of how management should use an activity based budget instead of an operating budget
- Explain the similarities and differences of the two budgets
Give an example of budget guidelines that ICBI should follow in order to successfully plan.

Identify and describe at least 5 basic budget guidelines.

Remember to use the library or other credible resources to support your argument. Be sure to cite your sources using the correct standard of APA.

Individual Project Rubric

Grading Criteria	Percentage
Deliverable requirements addressed; understanding of material and writer's message and intent are clear.	40%
Calculation methods, where required, are contextually appropriate, fully explained, and presented in a manner that is easy to understand.	10%
External research incorporated in the paper, if any, supports the writer's position and is properly acknowledged, and cited direct quotations may not exceed 10% of the word count of the body of the assignment deliverable (excluding title page, abstract, table of contents, tables, exhibits, appendices, and reference pages). Inclusion of plagiarized content will not be tolerated and may result in adverse academic consequences.	5%
Critical thinking: Position is well-justified, there is logical flow, and there are examples.	20%
Structure: Includes introduction and conclusion, proper paragraph format, and reads as a polished, academic paper or professional presentation, as appropriate for the required assignment deliverable.	10%
Mechanical: No spelling, grammatical, or punctuation errors.	10%
APA: Deliverable is cited properly according to the APA Publication Manual (6th ed.).	5%