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

Q: Explain the term budgeted costs.

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

Q: what are the first two steps of a master budget? and are there formulas that are used for those…

A: The first two steps of a master budget are as follows: 1) Preparation of sales budget. A sales…

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: How can budgeting be used for strategic allocation of resources?

A: In budgeting, standards are set for the next period so that actual performance could be directed…

Q: Discuss some of the major benefits to be gained from budgeting.

A: Budget:   A budget is a statement of estimated revenues and expenditures for a specific period of…

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: 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: What is continuous budgeting?

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

Q: What motivates PFG to install a budgeting and planning system?

A: Planning and Budgeting is an analytical application that helps to set top-down targets and generate…

Q: Describe the benefits of budgeting.

A:

Q: What are the benefits of Kaizen budgeting?

A:

Q: What is the first step in preparing a master budget ?

A: The master budget seems to be the budget that combines all of the other budgets into a single budget…

Q: What

A: Budgets act as an instrument of coordination.

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: Describe the budgeting and planning process.

A: Budgeting process: The process of streamlining the future expenditure process by predicting or…

Q: Describe budgeting process.

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

Q: . What data might you need to collect, and from whom, in order to construct a cash flow budget?

A: solution: What data might you need to collect, and from whom, in order to construct a cash flow…

Q: Briefly tell how Program Based Budgeting (PBB) interface with the GIFMIS?

A: SOLUTION- Program-Based Budgeting is a budgeting tool where all budgetary information is organized…

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: what are the 3rd and 4th steps to a master budget? Are there formulas that go with these steps?

A: Master Budget: The master budget is the core budget that explains the complete process of the…

Q: Explain the difference between strategic and operational budgets.

A: Strategic budget: A strategic budget is a long-term financial plan. It achieves the long-term goals…

Q: what are the three major objectives of budgeting?

A: A budget is a thorough roadmap of a company's economic activity. It is planned for the future based…

Q: Define Kaizen budgeting.

A:

Q: Which of the following is not an advantage of budgeting? a) Forces managers to plan b) Provides…

A: Budget: A budget is an estimation of revenue and expenses over a specified period of time and is…

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: Explain the specific roles of planning, motivation, communication, evaluation and control in a…

A: Budgetary control is an exercise undertaken by the organization/entity to ensure that the period…

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: 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: Why is flexibility very important for PFG’s budgeting system to be effective?

A: PFG stands for Penn Fuel Gas, Inc. It is a public utility holding company selling natural gas,…

Q: Explain how a budget facilitates communication and coordination.

A:

Q: Describe the role of a budget director.

A:

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: Explain participative budgeting

A: Budgeting is a process of making a financial plan with respect to income and expenditure. The…

Q: What is a budget contingency and what are three reasons it might be useful?

A: In the context of project management, a contingency budget is a sum of money set aside to cover…

Q: Budgets define goals and objectives that can serve as_________________ for evaluating…

A: Budgets refer to a estimated expense or income for a certain period based on relevant data such as…

Q: Please list the three major objectives of budgeting.

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

Q: Activity-based budgeting is a budget system based on expected activities. Describe activity-based…

A: Activity Based Budgeting is a system of budgeting that records , researches , analyzes and interpret…

Q: Describe the objectives of budgeting.

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

Q: Describethe best practices you would implement when budgeting for an organization.

A: Budgeting is the management regular process in an organization to determine the future outcomes, and…

Q: a.Identify the budget preparation approach used

A: An Estimate is the process of calculation or judgement of the value, number, quantity.It is a kind…

Q: what is the difference between budgets and budgeting, Reinforce the answer with examples , dates,…

A: Introduction Budgets: Budgets are estimate of all expenses and revenues by the management for 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…

Q: Define the term cash budget and give an example.

A: Budgets are used by governments, organizations, and individuals to estimate revenue and expenses for…