Why is it important to follow ethical provisions in making budgeting model?

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: What is the main advantage of an object classification budget? What are its limitations? How do…

A: The budget is the estimation of all the revenue and expense of the company. It acts as a parameter…

Q: “The sales forecast is the cornerstone for budgeting.” Why?

A:

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: How are budgets used as monitoring and control tools?

A: Budgets are quantitative statements that contain the details of the planned revenues, expenditures,…

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: What is a budgeting cycle? Explain?

A:

Q: Discuss why budgets are so important for all organizations. Describe some advantages and…

A: Budgets are an indispensable part of business organizations because they assist business…

Q: Why is the sales budget so important to the budgeting process?

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

Q: Who are the participants in the budgetingprocess, and how do they participate?

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

Q: 1.) Why is it necessary to determine and confirm scope and nature of budgetary planning activity…

A: answer It is necessary to determine and confirm scope and nature of budgetary planning activity with…

Q: What are the benefits of Kaizen budgeting?

A:

Q: hy is it important to comply with ethical provisions and be transparent in budgeting?

A: Budgeting refers to the process of formulating a plan which describes the ways and zones under which…

Q: What

A: Budgets act as an instrument of coordination.

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 a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

Q: What is budget control

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

Q: What are some challenges and weaknesses that a firm may find in the budgeting process?

A: The lack of proper monitoring and review, lack of clear policy and procedures on budgets, poor…

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 is a flexible budget? Explain how a flexible budgetincreases the usefulness of budgeting as a…

A: A flexible budget is a budget that can be easily adjusted to reflect the changes in the volume of…

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: 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: how would management use a Master budget?

A: A master budget is a central planning mechanism used by a management committee to direct a…

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: 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: what is contemporary organization and would you recommend budgeting for contemporary organisations…

A: Contemporary organization It is a type of organizational structure that is fluid and it is easy to…

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 the benefits of budgeting?

A: Budget means future forecast of the business. Budgeting is a process of making budgets. For example,…

Q: Why is it important to have a fair, balance criteria in making budge

A: Budgeting model is the model which establish the budget for business where it match the actual…

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 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: what are the pro and cons for traditional budgeting?

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

Q: What is the process for developing a budgeted balance sheet?

A: The budgeted balance sheet is a report that a firm uses to examine the estimation of assets,…

Q: what is the budget development process?

A: A budget is an instrument for planning, executing, and managing operations in order to make the most…

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: How can sensitivity analysis be used to increase the benefits of budgeting?

A:

Q: Explain the phrase: "Beyond Budgeting: Managing without budgets"

A: Solution:- Beyond Budgeting: - Beyond Budgeting is the idea of abolishing traditional budgeting…

Q: Which of the following is not a benefit of budgeting It is a basis for performance evaluation.

A: A budget is a forecast of the financial position and the results of the company for the period of…