The branch of accounting that helps in budgeting is called

Q: is the function of a budget?

A: Budget is nothing but planned allocation of revenue and expenses so that it help organization the…

Q: Explain the different purposes that a budget can have

A: Introduction:- Budgeting used to estimation of income and expenditure over a specified 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: 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 the source document for realignment of budget transaction for budgetary accounts?

A: The budget means the estimate of all-expense where the amount is spent. It is an estimate that the…

Q: of the budget in making management decisions?

A: Budget is defined as an estimate of revenue income and expenses for a set period of time. Budget is…

Q: Which of the following statement(s) related to budgets is/are TRUE? O In preparing a master budget,…

A: A budget is prepared with a view to estimate the revenues and expenses of the firm over a particular…

Q: Describe the importance of Budgeting in the Business

A: Budgeting entails planning in order to support an organization's planned goals. Every business must…

Q: The budgeted balance sheet is part of which element of the master budget? Financial budget…

A: The Financial budget is a part of master budget which shows cash inflows and cash outflows by using…

Q: According to institute of Cost and Management Accountants (ICMA) a budget is a plan, quantified in…

A: Budgets are quantitative plans which are used for allocation of resources, comparing and controlling…

Q: What are the benefits of tying a budget to the overall goals of the company?

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

Q: What are the ethical provisions that needs to be followed in budgeting?

A: The process of allocating a company's financial resources is known as budgeting. Although necessity…

Q: What is the role of the Office of Management and Budget OMB?

A: Office of the Management and the Budget (OMB):   This is the office which is part of the Executive…

Q: A____________________ is usually responsible for overall policy matters relating to the budget…

A: Budgets: Budgets are prepared for the planning and controlling purposes. Budgets facilitate planning…

Q: Which one of the following is an operating budget? a.cash budget b.sales budget c.budgeted…

A: Solutions- operating budgets are sales, production or manufacturing, labor, overhead, and…

Q: how will the skills and knowledege in constructing cash budget be applicable on the job of…

A:

Q: how can I apply MIS ( management information system ) successfully in this topic: A PERSONAL…

A: Management accounting is the act of distinguishing, estimating, investigating, deciphering, and…

Q: Analyze the nature and purpose of budgeting, the stages involved in the preparation of budgets,…

A: Budgeting is a process of making a plan to spend money. The spending plan is called budget. It helps…

Q: The accountant perspective of the budget views the budget as a rational decision-making tool? True…

A: Budgeting is the process of estimating the profitability, business requirements like production…

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: Describe the flow of budget data in an organization

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

Q: a. Explain your understanding about the budget cycleb. Please give an example of budget cycle's…

A: The budget is a process of planning the things in advance, estimating the future outcomes and…

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: How does budgeting help management coordinate and plan business activities?

A:

Q: Does a budget provide guidlines of the application of the organisaion`s resources?

A: Budgeting is critical for any business because it allows income and expenses to be matched. It makes…

Q: Explain your understanding about the budget cycle

A: As per the guidelines, only one question is allowed to be answered. Please upload different question…

Q: Explain what responsibility accounting is and how budgets are used in responsibility accounting. How…

A: Responsibility accounting: Responsibility accounting includes accounting and forecasting. It assists…

Q: How does activity-based budgeting explain the logic of budgeting?

A: Activity based budgeting: It is a budgeting system where budgets are prepared based on the expected…

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: Why should each department participate in preparing its own budget?

A: In Accounting, Budget refers to a statement prepared on the basis of future plans and goals for a…

Q: A cash budget and an income statement have many similarities. What are the main differences between…

A: Budget is an estimation of expenses and revenues over a future period which needs to be rechecked…

Q: 1. Why we preparation of budget ?

A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: Explain how a budget facilitates communication and coordination.

A:

Q: plain the financial aspects of planning and costing as embe

A: Budget : It is an expression of an organisation's plan, policies and programmes in the form of…

Q: Describe the role of a budget director.

A:

Q: The budgeted income statement is part of which element of the master budget? The financial budget…

A: Master Budget: Master budget is the comprehensive set of budgeted financial statements and…

Q: Why is the budget report important?

A: A budget report is the official document which is prepared by the accountant which shows how the…

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: Which of the following is not a function of accounting? Interpreting Bookkeeping Budgeting Od…

A: The function of accounting are enumerated as below:

Q: Discuss reasons why companies would establish a formal budgeting process for their businesses.

A: A business budget is a dynamic financial plan that is used to forecast a company's expected income…

Q: What is the relationship between the master budget and responsibility accounting?

A: Definition of budget: According to CIMA Budget means " Quantitative expression of a plan for a…

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…