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

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: Explain the value of utilizing a balance sheet to make a budget adjustment. What is the danger?

A: The budgeted balance sheet is usually prepared at the start of the fiscal year. The organization…

Q: Explain why zero based budgeting might be a useful tool to employ to ensure that budgetary…

A: Budgeting is the way that one business uses to manage and control its cost elements for ensuring…

Q: Briefly describe the type of human behavior problems that might arise if budget goals are set too…

A: Budget is a tool which is used in the planning and controlling process by estimating the revenue and…

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: 4. The following are characteristics of an effective budget, EXCEPT: A. Goals should be attainable.…

A: Hi student Since there are multiple question, we will answer only first question.

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: Define the terms relative-performance (relative-improvement) contract and rolling financial…

A: Relative performance: It is related to the evaluation of the performance of an individual based on…

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: 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: Briefly describe the type of human behavior problems that might arise if budget goals are set too…

A: A budget is a financial plan for a defined period, often one year. It may also include planned sales…

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: Which of the following is not a benefit of budgeting? a. It sets some standards to evaluate…

A: Budgeting is defined as the procedure of planning the manner in which the work to be conducted and…

Q: Which of the following statements is incorrect? * O An imposed budget is the same as a participative…

A: Answer: Budget is the statement that is prepared for revenue and expenses as an estimation made by…

Q: Which among the following is not an element of budgeting? a. Budgeting should state the firm’s…

A: Budgets are prepared on weekly, monthly, or yearly basis to make plans for the future which needs to…

Q: There are a number of benefits associated with budgeting. Which of the following is not frequently…

A: Budgeting refers to the process of estimation of revenues and expenses for an entity over a specific…

Q: What are some examples of effective monitoring and control practices, and how do they help address…

A: Managers take necessary steps to control the costs in a particular accounting period. It is known as…

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: . Why is it important to provide relevant colleagues with adequate notice of the opportunity to…

A: Answer: It is important to provide relevant colleagues with adequate notice of the opportunity to…

Q: 1(a)  "Accounting plays a relatively unimportant role in budgeting." Do you agree? Explain.  (b)…

A: 1 (a) “Accounting plays a relatively unimportant role in budgeting” this statement is not correct…

Q: "budget performance is a better criterion than past performance for judging managers." Do you agree?…

A: The budget is a statement in which the estimated standards are set according to the needs of the…

Q: indicate yes if the item is an important budgeting guideline orno if it is not. Goals in a budget…

A: Budgeting: Budgeting is a very important process in managing the future financing affairs of a…

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: Briefly describe the type od human behavior problems that might arise if budget goals are set too…

A: Budgeting is defined as the process or procedure, which used to prepare the plan regarding the…

Q: 1. The organizational process of budgeting performs several important functions. Which is true? A.…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: A budget represents a target and aiming towards a target can be a powerful motivator. However,…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: balance criteria in budgeting?

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

Q: Which stakeholders might be more interested in the budget rather than the financial statements? Why?

A: Stakeholders of the organization are the people having some kind of interest vested in the…

Q: indicate yes if it describes a potential benefit of budgeting orno if it describes a potential…

A: Budgeting is very important process in managing future financing affairs of a business enterprise.…

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: Which is better the old-fashioned way of TOP DOWN budgeting, or the new way of BEYOND BUDGETING and…

A: Budgeting refers to a predefined strategic systematic plan developed by a business enterprise…

Q: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: Which of the following best describes the role of top management in the budgeting process? Should…

A: Correct option is 3.Should be enthusiastic and committed to the budget process

Q: Budgeting systems should be subjected to the cost-benefit approach

A: Budgeting represents the procedure of preparing a budget by the company in order to estimate the…

Q: Why do successful companies tend to use the bottom-up approach to establish a master budget?

A: The bottom-up approach increases the efficiency and productivity of the employees as the budget is…

Q: 2 Which of the following items does not follow from the adoption of a budget? a. Deterrent to waste…

A: Financial statements are statements which states the business activities performed by the company .…

Q: Why is flexibility very important for PFG’s budgeting system to be effective?

A: PFG stands for Penn Fuel Gas, Inc. It is a public utility holding company selling natural gas,…

Q: Which of the following is true of budgeting? a.Budgeting relies on the control cycle to design the…

A: Introduction: Budgeting: Budgeting is an planning or an estimation for the future. Types of budgets:…

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: budget performance is abetter critical than past performance for judging managers" do you agree…

A: For judging the current performance  we need a benchmark against which we can see and compare and…

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

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