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

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: 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: Explain the benefits of budgeting.

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

Q: Why is it important to include a budgetary committee in the budgeting process?

A: Budgeting is a process of forecasting of revenues, expenses, investments for the future period of…

Q: __________________is the cornerstone of the master budget?

A: The  Answer

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: What are some limitations of the budgeting process?

A: Budgeting is an important exercise that is performed in most of the organizations. Budgeting has lot…

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: What is the significance of Personal Budgeting? What are the advantages and disadvantages of…

A: A personal budget is a financial plan for allocating and utilizing their personal income and…

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: What are the benefits of Kaizen budgeting?

A:

Q: What is a “replacement chain”? When and how should replacement chains be used incapital budgeting?

A: The method which can be used to choose best among the more than two mutually exclusive capital…

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 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: How important of budgeting with saving?

A: Every organization creates a budget that helps them to determine the revenue as well as expenses…

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: Discuss the importance of predictions and assumptions in the budgeting process.

A:

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: 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: balance criteria in budgeting?

A: while making balance criteria in budgeting i always follow these steps; Establish your budgetBefore…

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 reason for preparing a budget in business?

A: A budget is a systematic financial process to decide the future cash flows in advance to achieve the…

Q: Why is the sales forecast the starting point in budgeting?

A: Master Budget:   The master budget is a collection of budgets that is used by the company for…

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: What is budgetary control?

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

Q: Define Control. How are budgets used to control?

A: Control means cut down or limiting the expenses of the business. Cost control is very important in a…

Q: What are budgets used for?

A: Management accounting is one of the branches of accounting. Unlike financial accounting, the…

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: What is a budget?

A:

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: What is a budget? What is budgetary control?

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

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: n budgeting

A: The stakeholders are the guiding influence for any organization and knowing them is of utmost…

Q: what are the pro and cons for traditional budgeting?

A: Traditional Budgeting Traditional budgeting which provides the budgetary requirement of the business…

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 participative budgeting

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

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: 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: 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…

Q: Why are budgets so important for all organizations, and what are some advantages and disadvantages…

A: Budget Meaning: Budgeting allows you to plan the finances of your organization. Budgeting is one of…