“Budgets meet the cost–benefit test. They force managers to act differently.” Do you agree? Explain.

Q: What are the advantages and disadvantages of bottom-up budgeting process? What is budgetary slack?…

A: Bottom-up Budgeting Process It is a budgeting method that starts at the department level and moves…

Q: better system for performance analysis?

A: A flexible budgeting system is a type of budgeting which is based on various sales volumes and it…

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: Briefly describe the type of human behavior problems that might arise if budget goals are set too…

A: Budget is a tool which is used in the planning and controlling process by estimating the revenue and…

Q: Why might managers find a flexible-budget analysis more informative than a static-budget analysis?

A: Static Budget: Static budget is a fixed budget prepared for a particular period of time without…

Q: Define the terms relative-performance (relative-improvement) contract and rolling financial…

A: Relative performance: It is related to the evaluation of the performance of an individual based on…

Q: What are the advantages and disadvantages of the participatory approach to budgeting?

A: Participative budgeting is a budgeting process in which the people who are in the lower levels of…

Q: Q.“Budgets meet the cost–benefit test. They force managers to act differently.” Do you agree?…

A: Budget: It is the statement in which the estimated standards are set according to the needs of the…

Q: Budgets are the best management tool, but I think they can cause arguments and disagreements between…

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: Which of the following is not a part of budgeting?A. planningB. finding bottlenecksC. providing…

A: Budgeting is an important process in management accounting. Budgets means estimates or forecasts…

Q: Q.“Budgeted performance is a better criterion than past performance for judging managers.” Do you…

A:

Q: Explain what you understand by Budgets, Fixed Budgets and Flexible Budgets in the context of control…

A: Companies prepare budgets for various reasons such as controlling costs, evaluating performance, or…

Q: Briefly describe the type od human behavior problems that might arise if budget goals are set too…

A: Budgeting is defined as the process or procedure, which used to prepare the plan regarding the…

Q: What are the major objectives of budgeting? Briefly describe the type of human behavior problems…

A: 1. Objectives of budgeting: Anticipation of future financial condition and future needs for funds…

Q: When would a static budget be effective in evaluating a manager performance

A: We know that budgeting is a planning tool through with entities define a predefined target for…

Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: The purpose or motive of budgeting in business management has three aspects: Forecasting the…

Q: Explain how standard costs and flexible budgets can be used for short-term profit analysis—that…

A:

Q: what is the difference between bottom up and beyond budgetin

A: Budgeting is the process of determining the expected costs and revenues for a particular period by…

Q: Describe how nonoutput-based cost drivers can be incorporated into budgeting.

A: Budget: The budgeting is a process of preparing budgets and the evaluation of it to see whether the…

Q: Flexible budgeting may be viewed as combining the concepts of budgeting with cost-volume-profit…

A: A Budget is nothing but an estimation of the revenues and expenses of an organization for a…

Q: Why is it important to follow ethical provisions in making budgeting model?

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: What limits the usefulness to managers of fixed budget performance reports?

A:

Q: Which is better the old-fashioned way of TOP DOWN budgeting, or the new way of BEYOND BUDGETING and…

A: Budgeting refers to a predefined strategic systematic plan developed by a business enterprise…

Q: Budgeting is essential to businesses, but it is not that simple to implement. What are some…

A: Introduction: Budgeting is thought to be the purchase of important financial decisions that aid in…

Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: “Budgeted performance is a better criterion than past performance for judging managers.” Do you…

A:

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: Why do organizations create budgets?  What is the purpose or desired outcome?  What would happen if…

A: Budget: Budget is the process of identifying, collecting, and summarizing the financial information.…

Q: Why does a company's budget need to be closely linked to the needs of good strategy execution? Why…

A: Because insufficient cash and other forms of resources hamper development and inhibit organisational…

Q: Budgeting systems should be subjected to the cost-benefit approach

A: Budgeting represents the procedure of preparing a budget by the company in order to estimate the…

Q: 2 Which of the following items does not follow from the adoption of a budget? a. Deterrent to waste…

A: Financial statements are statements which states the business activities performed by the company .…

Q: What does a flexible budget performance report do that a simple comparison of budgeted to actual…

A: Flexible budget performance report:   A tool used to compare the actual and budgeted results…

Q: what are the pro and cons for traditional budgeting?

A: Traditional Budgeting Traditional budgeting which provides the budgetary requirement of the business…

Q: Explain the situation: "Managing Without Budgets: Going Beyond Budgeting"

A: Introduction: Budgeting isn't the only thing that has to be done. Beyond Budgeting is the concept of…

Q: How could cost-volume-profit analysis be used in budgeting? In making a decision about advertising?

A: Cost Volume Profit Analysis (CVP Analysis): This analysis is helpful in determining how any type of…

Q: budget performance is abetter critical than past performance for judging managers" do you agree…

A: For judging the current performance  we need a benchmark against which we can see and compare and…

Q: Do you think  that most decision making impacts both top-down and bottom-up budgeting?

A: Top down budgeting is a process where budget is prepared by the senior team of managers in the…

Q: what are the differences between top down and beyond budgeting?

A: Budgeting is the process of estimating the income and expenditure to control the actual income and…

Q: How can an organization help to reduce the problems caused by budgetary slack?

A: Definition: Budgetary slack: The manager intentionally creates a slack into the budget as to avoid…

Q: Is participative budget more favorable than impose budget? Justify your answer

A: Introduction:- Participative budgeting is an essential budgeting method that allows organizations to…

Q: Explain the phrase: "Beyond Budgeting: Managing without budgets"

A: Solution:- Beyond Budgeting: - Beyond Budgeting is the idea of abolishing traditional budgeting…

Q: since flexible budget is more accurate in measuring performance, can company just develop flexible…

A: A static budget is the starting point for the company. When the business term is six months, for…