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

Q: Explain the benefits of budgeting.

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

Q: Explain the value of utilizing a balance sheet to make a budget adjustment. What is the danger?

A: The budgeted balance sheet is usually prepared at the start of the fiscal year. The organization…

Q: Explain why zero based budgeting might be a useful tool to employ to ensure that budgetary…

A: Budgeting is the way that one business uses to manage and control its cost elements for ensuring…

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

A:

Q: How are budgets used as monitoring and control tools?

A: Budgets are quantitative statements that contain the details of the planned revenues, expenditures,…

Q: What is continuous budgeting?

A: Continuous budgeting refers to when a budget of a month ends, immediately the succeeding month…

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: Describe the benefits of budgeting.

A:

Q: Why is budgeting process time consuming?

A: Budget -  Budget are a financial plant of the company prepared by the company every year and it will…

Q: What are the benefits of Kaizen budgeting?

A:

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: What is the difference in purpose between an economic-enterprise budget and the results of the…

A: The purpose of the economic-enterprise budget is to estimate sales, costs, and, finally, the…

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: What is participative budgeting? What are its potential benefits? What are its potential…

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: What are the benefits of a master budget?

A: Master Budget:The master budget is the core budget that describes the full process of budget. This…

Q: How are budget variances calculated and used as performance measures? Provide numerical example?

A: budget is the predefined calculations that provide the plan of using the resources and generating…

Q: What is life-cycle budgeting?

A: Budgeting:Budgeting refers to preparation of financial statements that show all the incomes and…

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: What is a static budget performance report?

A: Static Budget Performance report: The Static Budget Performance report reports the variances.…

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: What is the main difference between static and flexible budgets?

A: A budget is a tool that helps the entity to  achieve its predetermined objectives through a…

Q: What is a static budget? Explain? Give example?

A:

Q: What are the benefits of budgeting?

A: Budget means future forecast of the business. Budgeting is a process of making budgets. For example,…

Q: Why are human factors critical in budgeting?

A: budgeting is such a process under which a detail plan of spending of the businesses is done in order…

Q: What are the components of budgeting model and why is it important?

A: Budgeting The purpose of preparing the budget to evaluate the performance of the business for a…

Q: How are standards and variances used in budgeting and budget analysis?

A: Variance refers to the difference between the standard values to the actual values for both revenue…

Q: What are the major advantages of self-imposed budgets? Whatcaution must be exercised in their use?

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

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: The budgeting process can uncover potential___________________ before they occur.

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

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: 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: what are the pros and cons for activity based budgeting ?

A: Activity based budgeting is a method in which activity are thoroughly analyzed to predict costs.it…

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: Compare how alternative budget time frames can be used.

A: A budget is a quantitative plan for acquisition and use of resources in a business over a specified…

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: res of a budget

A: There should be a proper fixation of authority and responsibility. The delegation of authority…

Q: What is a flexible budget performance report?

A:

Q: Which of the following is a use of budgets for control? * A. plans can be made for the future B.…

A: Controlling activities are those activities which aid in monitoring the performance of a particular…