Explain why zero based budgeting might be a useful tool to employ to ensure that budgetary requirements are kept up to date

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: Explain the benefits of budgeting.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: Budgets, Fixed Budgets and Flexible Budgets

A: Fixed Budgeting:The leased Institute of Management Accountants (UK) defines a hard and fast budget…

Q: Benefits of Budgeting include all of the following EXCEPT: A) Promotes analysis of results B)…

A: Budgeting is the process of creating a strong plan to spend the funds of the organization. budgets…

Q: “The sales forecast is the cornerstone for budgeting.” Why?

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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: Describe the benefits of budgeting.

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Q: What is a “replacement chain”? When and how should replacement chains be used incapital budgeting?

A: The method which can be used to choose best among the more than two mutually exclusive capital…

Q: There are a number of benefits associated with budgeting. Which of the following is not frequently…

A: Budgeting refers to the process of estimation of revenues and expenses for an entity over a specific…

Q: What are some examples of effective monitoring and control practices, and how do they help address…

A: Managers take necessary steps to control the costs in a particular accounting period. It is known as…

Q: What are the risks and benefits of both internal and external budget preparation?

A: Budgeting is a process in which selected organizations and individuals are assigned certain…

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: What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

Q: What are the three major objectives of budgeting? Under what circumstances would a static budget…

A: Budgeting is a planning measure by which Business Entity make plan for the expected revenues and…

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: explain the advantages and limitations of budgetary control in detail

A: Budgetary control is the process of preparing budgets for the future time and comparing them to…

Q: Discuss the importance of predictions and assumptions in the budgeting process.

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Q: One benefit of budgeting is coordination and communication. Explain what this means.

A: Budgeting: It is the process where the planning is done for spending less than the earning.

Q: indicate yes if it describes a potential benefit of budgeting orno if it describes a potential…

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

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Q: balance criteria in budgeting?

A: while making balance criteria in budgeting i always follow these steps; Establish your budgetBefore…

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 are the various kind of budgeting and critically compare the fixed and variable budgeting and…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: Why is a clear understanding of management’s goals and objectives necessary for effective budgets?

A: Budgeting is a process of planning future expenses and income so that an organization ensure the…

Q: What are the advantages and disadvantages of incremental and zero-based budgeting

A: Budgeting involves estimation of expenses and revenues of an entity over a specific period of time.

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: what are the pro and cons for traditional budgeting?

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

Q: IDENTIFY AND DISCUSS THE DIFFERENCES BETWEEN STATIC AND FLEXIBLE BUDGETS.

A: A budget is defined as a plan layout designed for a particular period. It involves planning costs…

Q: Which of the following is true of budgeting? a.Budgeting relies on the control cycle to design the…

A: Introduction: Budgeting: Budgeting is an planning or an estimation for the future. Types of budgets:…

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: What is captial budgeting? Why a separate capital budget is needed?

A: The term capital budgeting comprises of two words, "Capital" means the funds needs for the…

Q: How can sensitivity analysis be used to increase the benefits of budgeting?

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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 is the benefit of continuous budgeting?

A: Budget: It is an estimated financial plan for future time period. It is used by management as an…

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: Would you prefer the use of bottom-up or top-down budgeting for project cost control? What are the…

A: Top-down budgeting is a budgeting strategy in which top management creates a high-level budget for…

Q: Which of the following is not a benefit of budgeting It is a basis for performance evaluation.

A: A budget is a forecast of the financial position and the results of the company for the period of…