what are the three major objectives of budgeting?

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: 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: Why is the sales budget considered the cornerstone of the master budget?

A: Master budget is the sum total of all lower level budgets of the organisation various functions like…

Q: a standard

A: A budget usually refers to a department's or a company's projected revenue, costs, or expenses. A…

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: List the four budgeting objectives.

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

Q: What is a budgeting cycle? Explain?

A:

Q: What are the benefits of Kaizen budgeting?

A:

Q: The master budget will comprise of what?

A: A MASTER BUDGET IS A SERIES OF SMALLER BUDGETS THAT ARE ROLLED UP INTO ONE LARGER BUDGET TO PROVIDE…

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 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 are the three main types of financial budgets and what is the purpose of each

A: Budget represents the report of forecasting the financial expenditure and income for the future…

Q: Which of the following is the cornerstone of the master budget? a. The selling and administrative…

A: Master Budget: It includes companies budget plan for purchases, production, overhead, cost of goods…

Q: What are the three types of budgets included in the master budget. Define and explain each type.

A: Solution:- The master budget is the sum total of all the divisional budgets that is prepared by all…

Q: What is budget control

A: PLEASE LIKE THE ANSWER   Budget control is a technique where actual results compared with the…

Q: What are the three main types of budgets?

A: The three main types of budgets: 1. Incremental budgeting:With incremental budgeting, the current…

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 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: 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: what is budgeting is accounting? Explain its significance and applications with examples ?

A: The process of estimating future income and losses is called budgeting. In other words, it is the…

Q: What are the four elements of the budgeting cycle?

A: Budget Cycle:The budget cycle refers to the whole time period starting from the creation of the…

Q: uses and advantages of budget?

A: The budget represents the estimation of the expenses to be incurred and revenue to be earned by the…

Q: Explain the types of budget.

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

Q: Give three examples of a master budget?

A:

Q: What is a budget?

A:

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 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: 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: Which of the following is an operating budget?A. cash budgetB. production budgetC. tax budgetD.…

A: An operational budget seems to be a projection of projected income and costs for one or even more…

Q: s the uses and adv

A: Answer 1) Budget: Estimation of income and expenses of a Corporation for a particular set of…

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: Explain participative budgeting

A: Budgeting is a process of making a financial plan with respect to income and expenditure. 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 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: What is an operating budget?

A:

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: Q.What are the four elements of the budgeting cycle?

A: Budget Cycle:   The budget cycle refers to the whole time period starting from the creation of 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 statement about budgets is correct?

A: Budgets is a financial plan for the future . It's the estimate of Incomes and expenses for the…

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: discuss the different budgetary types and identify their main characteristics

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

Q: Explain the role of budget in management cycle?

A: Budget is the term which is defined as the financial plan for particular period, generally for one…

Q: Briefly discuss the budgeting process  and explane  how  the budgeting process satisfies the purpose…

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