Explain the concept of control and budgetary control

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 term budgeted costs.

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

Q: Why is participative budgeting often an effective management tool?

A:

Q: Describe the benefits of preparing a budget to an organization

A: Budget means what is required to be done compair it actual to what is actually happned in other…

Q: Briefly explain “Self-Impose Budget or Participative” and “Master Budget”.

A: Here are given two terms. (1) Self imposed budget or participative budget (2) Master budget Lets…

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: Define the term budgeting cycle.

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

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: How is budget achieved in transportation.

A: Preparation and achieving the target of the prescribed budget is differentiated for the different…

Q: Describe the benefits of budgeting.

A:

Q: budget is a

A: Introduction : A budget can be understood as an accounting statement, prepared by the managers of a…

Q: What

A: Budgets act as an instrument of coordination.

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: Budgeting

A: Budgeting: Budgeting is the estimation of revenue and expense for a given period of Time. it is the…

Q: Describe the budgeting and planning process.

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

Q: What is a master budget? Briefly describe its contents.

A:

Q: Define the term budget. How are budgets used in planning?

A: SOLUTION- BUDGET-  BUDGET ARE PREPARE FOR PLANNING AND CONTROLLING PURPOSES. BUDGETS FACILITATE…

Q: Explain budgetary reporting requirements.

A:

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

A: The Answer

Q: How is the operating budget of the master  budget used by management?

A: the master budget consists of all types of budget. operating budget is one of the budgets in the…

Q: budgeted balance sheet sales budget production budget budgeted…

A: Budgeted balance sheet Explanation ; A financial budget has 3 elements            1. cash budget…

Q: explain the advantages and limitations of budgetary control in detail

A: Budgetary control is the process of preparing budgets for the future time and comparing them to…

Q: uses and advantage of budget

A: Budget is referred to as an estimation of the expenses as well as revenues of the individual or the…

Q: define control andhow budget use in control

A: Budgets are prepared by an organization to estimate the revenues from different projects and the…

Q: Master budget

A: We know that budgeting is a predefined estimate made by the management for a future period. In…

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: Create budget assumption

A: Budgeting: Budgeting can be defined as the process of developing a financial plan that company…

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: 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: Define Kaizen budgeting.

A:

Q: Define the term sales budget.

A: A sales budget provides an estimate of the volume of goods and services that a company proposes to…

Q: _________________is a component in a financial budget

A: The Answer

Q: component of the master budget

A: Second option is wrong because budgeted income statement is a component of master budget. Third…

Q: Which of the following is a basic element of effective budgetary control?a. cost behavior patternsb.…

A: Budgeting is a process that involves estimation of total costs and revenues of a firm over a…

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: Explain how a budget facilitates communication and coordination.

A:

Q: Discuss the uses and advantages of budget.       2. Explain the concept of control and budgetary…

A: 1. The advantages of budgeting are as follows: Planning Coordination Performance measurement…

Q: What is an operating budget?

A:

Q: Define the term financial budget.

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

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: res of a budget

A: There should be a proper fixation of authority and responsibility. The delegation of authority…

Q: Describe the objectives of budgeting.

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

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: 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: QUESTION #3 Define budgeting and its importance in planning and controlling framework. Explain the…

A: Budgeting is a process of preparing budgets. Budget is the quantitative expression of future results…