Week 10 Reading Reflection

1. The biggest surprise I had throughout my reading of chapter 11 was how extremely important the budgeting process is in the overall success of a company.

2. One part of the reading that was confusing to me was the concept of allowance for uncollectible accounts. I didn't understand how one would distinguish between whether a receivable was collected or not.

3. If I could ask two questions to the author it would be

• Which technique for the preparation of a sales forecast is more accurate/widely used?
• What is a typical amount of payments allowed to be received on account versus in cash?

4. There wasn't anything in this chapter that I thought the author was wrong about since it was all factual and definitive accounting information.