1.) Why is it necessary to determine and confirm scope and nature of budgetary planning activity with relevant colleagues?
Q: Managers should be closely involved in preparing their responsibility accounting budget. How true is…
A: Generally, managers should be involved in preparing their responsibility accounting budget.
Q: Many accountants believe that the most important benefit of the master budgeting process is the…
A: Master budget: The master budget is the core budget that describes the full process of budget. This…
Q: Budgets are an effective device to communicate D objectives O constraints O expectation to personnel…
A: A financial plan prepared by the organization for a specific time period is known as the budget. In…
Q: Which provides the most benefit to an organization, a budget or the budgeting process? Why?
A: Budget: A budget is a systematic allocation of resources to different departments depending on the…
Q: Which one of the following best describes the role of top management in budgeting process? Top…
A: Role of top-level management in the budgeting process - - management must make that all the levels…
Q: What functional role do management accountants play in the budgeting process?
A: A budget is a type of financial plan that is used by managers to estimate revenues and expenses for…
Q: 5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate…
A: Budgets are compiled at least annually by most companies in order to plan their operations for the…
Q: Which of the following statement(s) related to budgets is/are TRUE? O In preparing a master budget,…
A: A budget is prepared with a view to estimate the revenues and expenses of the firm over a particular…
Q: hy is it important to comply with ethical provisions and be transparent in budgeting?
A: Budgeting refers to the process of formulating a plan which describes the ways and zones under which…
Q: What are the benefits of budgeting?
A: Budgeting is the process of designing, implementing, and operating budgets. It is the managerial…
Q: Why is it a good idea to consider the various budgeting and monitoring options available?
A: Meaning:- Budgeting and Monitoring:- Budgeting is the process of planning or standard-setting for…
Q: Budgets are an effective device to communicate
A: Budget represents the report that contains the objective of the corporation and the way how to get…
Q: What is the role of the Office of Management and Budget OMB?
A: Office of the Management and the Budget (OMB): This is the office which is part of the Executive…
Q: State two objectives of budgetary planning and control systems
A: “Since you have asked multiple question, we will solve the first question for you. you want any…
Q: . Why is it important to provide relevant colleagues with adequate notice of the opportunity to…
A: Answer: It is important to provide relevant colleagues with adequate notice of the opportunity to…
Q: t is a document which defines the objectives of budgetary control system. It spells out the duties…
A: The above paragraph defines and explains a document which sets out the whole plan of the budgetary…
Q: [2] In the budgeting and planning process for a firm, which one of the following should be completed…
A: SOLUTION- STRATEGIC PLANNING IS A PROCESS IN WHICH ORGANIZATIONAL LEADERS DETERMINE THEIR VISION FOR…
Q: Explain the concept of control and budgetary control
A: SOLUTION- CONCEPT OF CONTROL- IT IS ONE OF THE IMPORTANT FUNCTION OF MANAGER . IN ORDER TO SEEK…
Q: How are standards used by management in evaluating organizational units, as to their budgetary…
A: A budget refers to the financial plan that is used by managers in order to estimate revenues and…
Q: how will the skills and knowledege in constructing cash budget be applicable on the job of…
A:
Q: 1. The organizational process of budgeting performs several important functions. Which is true? A.…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: Which of the following is not the direct benefit of the budgeting process? Identification of…
A: The process of budgeting involves the estimation of the costs and revenues of the entity for future…
Q: Budgets in governmental organizations serve :as all of the following except .a Control mechanisms .b…
A: Budget is the quantitative expression of estimated future course of action. For example, Sales…
Q: Which of the following is NOT an objective of the budgeting process? O a. To communicate…
A: Please see the next step for the solution
Q: what is contemporary organization and would you recommend budgeting for contemporary organisations…
A: Contemporary organization It is a type of organizational structure that is fluid and it is easy to…
Q: Discuss how are budgets used to help organizations plan for future and how are budgets used for…
A: Budgeting is an important part of the business process. Without budgeting a business cannot track…
Q: Why is it important to have a fair, balance criteria in making budge
A: Budgeting model is the model which establish the budget for business where it match the actual…
Q: 1. How does budgeting provide important information to managers and operating personnel?
A: Budget is like preparing plan for the future process and it includes how efficiently sources or…
Q: Which of the following best describes the role of top management in the budgeting process? Should…
A: Correct option is 3.Should be enthusiastic and committed to the budget process
Q: Justify budgetary control solutions and their impact on organisational decision making to ensure…
A: Budgetary control is the control which is put in place by the company or the organization so that…
Q: the use of both cash flow forecasts and financial budgets to aid decision-making within an…
A: Uses of cash flow forecasts: Cash flow forecasts are helpful in determining the amount of money that…
Q: Which of the following is NOT true of the budgeting process? Question 8 options: Budgeting…
A: Solution Concept Budgeting process is the process of estimating the income and expenditure of the…
Q: he objectives of budgeting are to: a. Establish specific goals for future operations b. Execute…
A: A budget is an estimation to determine the income that will be earned and expenses that will be…
Q: Discuss any three advantages of budgeting? The subject is Managerial Accounting.
A: Budgeting:-It is a process of creating a plan for how to spend money. This spending plan is called…
Q: What justification you would give to the firms board of directors for creation and maintenance of…
A: Training and development is the process of educating the employees about the work and culture of…
Q: Budgets in governmental organizations serve as all of the following except: a. Control mechanisms b.…
A: a. Budgets in governmental organizations serve the control mechanisms. As the budgets helps…
Q: Which among the following techniques is/are part of controlling? a. All the options listed b.…
A: CORRECT ANSWER : a. All the options listed.
Q: 5. Which of the following is not a benefit of budgeting? A. It sets some standards to evaluate…
A: Budgeting: Budgeting is that the method of making a plan to pay your cash. Benefits of Budgeting…
Q: Why is it necessary to determine and confirm scope and nature of budgetary planning activity with…
A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…
Q: a. Discuss the various operational budgets prepared for: (i) a service organisation (ii) a trading…
A: Before going for the various operational budget we need to understand the meaning of Operational…
1.) Why is it necessary to determine and confirm scope and nature of budgetary planning activity with relevant colleagues?
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- Why is it necessary to determine and confirm scope and nature of budgetary planning activity with relevant colleagues? (Please explain in 1 to 5 sentences)4. Why is it important to provide relevant colleagues with adequate notice of the opportunity to contribute to the budget planning process?Briefly discuss the budgeting process and explane how the budgeting process satisfies the purpose of planning, controlling and evaluating performance?
- Which provides the most benefit to an organization, a budget or the budgeting process? Why?Which of the following describe the control aspect of the budgeting process? Please select all that apply. Rewarding the achievement of challenging targets. Checking progress towards achieving targets and objectives. Regular comparison of budgeted and actual outcomes. Investigating the causes of variations between budgeted and actual outcomesNeed him with the decriotionaIncluding the budget's objective, how the budget assists an organization in managing its financial activities, and what types of data need to be included in that specific budget
