QUESTION 4 Performance based budgeting inks inputs to measurement of outputs True False. None of these I do not know Save Answer QUESTION 5 Which one is not the stage of budget process Preparation Approval Research Execution Save Answer QUESTION 6 The prudent man rule is the same as prudent investor nule Board members cannot be ordinarily held responsible for investment loss. To include the entire portiolio. Lof the above OOO bo00 200

QUESTION 4 Performance based budgeting inks inputs to measurement of outputs True False. None of these I do not know Save Answer QUESTION 5 Which one is not the stage of budget process Preparation Approval Research Execution Save Answer QUESTION 6 The prudent man rule is the same as prudent investor nule Board members cannot be ordinarily held responsible for investment loss. To include the entire portiolio. Lof the above OOO bo00 200

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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1(a) "Accounting plays a relatively unimportant role in budgeting." Do you agree? Explain. (b) What responsibilities does management have in budgeting? 2)What is participative budgeting? What are its potential benefits? What are its potential disadvantages? 3)What is budgetary slack? What incentive do managers have to create budgetary slack?
Ma3. a) what are the budget timelines from beginning to the budget approval stage. give suitable examples b) what are the budgetary control processes with respect to reporting and suitable examples a. How regular they are b. How variances are addressed c. The role of senior management versus board if any
Which of the following is NOT true of the budgeting process? Question 8 options: Budgeting provides feedback to management to aid in assessing how well it's reaching its goals. Budgets force managers to plan for the future. Budgets force managers to consider relations among operations across the entire value chain. The performance report is prepared as part of the master budget.
17. If a manager builds slack into a budget, how would that manager estimate revenues and expenses? Multiple Choice a)over-estimate revenues and over-estimate costs b)budgetary slack does not affect revenues or costs c)over-estimate revenues and under-estimate costs d)under-estimate revenues and under-estimate costs e)under-estimate revenues and over-estimate costs
34. Shorter-term cash budgets is for actual cash control, long-term cash budgets is for planning purposes. Group of answer choices True False
18 Which of the following is not the direct benefit of the budgeting process? Identification of potential bottlenecks or constraints. Goal congruence between the personal goals of managers and the goals of the organization. Payments and completion of taxes Communication throughout the organization.
Ch. 11 Capital Budgeting This question was reject and for no reason probably because someone didn't want to take the time to do the work. It is a simple question asking for the follwoing formuals used in Capital Budgeting: Please answer this!!! Please explain how to find the Time of value, the Present Value, and Future Value when working on capital budgeting if the amount is $1,000 and the interest rate is 10%. I need all three formulas and how they are computed. Please show and explain examples.
a) Discuss the following as used in budgeting i. Padding ii. Budgetary slack iii. Zero-based budgeting iv. Incremental budgeting v. Bottom-up approach to budgeting vi. Top-down approach to budgeting b) Explain 4 importance of budgetary control
Estimating the effects of changes in budget assumptions, such as determining the impact of an increase or decrease in sales, is called: Question 4 options: static budget analysis. sensitivity analysis. variance analysis, cost reduction analysis. (Ch 10) An advantage of a flexible budget is that it: Question 5 options: allows comparison of actual costs to master (static) budget costs. considers only variable costs. allows comparisons of actual costs to the costs that should have been incurred, given the level of sales. allows management freedom in meeting profitability goals.
Management Accounting Question (Qualitative Short Answer) a. Why is the sales forecast the starting point in budgeting? b. What is a perpetual budget? c. Which is a better basis for evaluating actual results: budgeted performance or past performance? Why? d. The materials price variance can be computed at what two different points in time? Which point is better and why? e. What effect, if any, would you expect purchasing poor-quality materials to have on direct labor variances? f. Distinguish between ideal and practical standards. g. Costs associated with the quality of conformance can be broken down into four broad groups. What are these four groups and how do they differ? h. What is likely the most effective way to reduce a company's total quality costs? i. What are the three main uses of quality cost reports?
b) ‘Budgeting has a number of different purposes including: Planning; Control; Performance evaluation; Motivation. Some managers believe that zero-based budget is more beneficial than other types of the budget for firms.’ Required: Critically discuss the above statement with reference to academic literature. In your discussion, you should refer to the budgeting systems you learned in this module.
1. What is the difference between strategic and operational plans?2. What is the purpose of financial plans?3. What are the component of an operations plans?4. What are the pro forma financial statements?5. What is the percentage of sales forecasting method? What are some of the limitations financial analysis should be aware of in applying this method?6. What is a cash budget? What are the usual steps involved in preparing a cash budget?7. Explain the difference between deterministic and probabilistic financial planning models.