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

Q: What are the advantages and disadvantages of bottom-up budgeting process? What is budgetary slack?…

A: Bottom-up Budgeting Process It is a budgeting method that starts at the department level and moves…

Q: Discuss some of the major benefits to be gained from budgeting.

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

Q: Explain the benefits of budgeting.

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

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

A:

Q: What is continuous budgeting?

A: Continuous budgeting refers to when a budget of a month ends, immediately the succeeding month…

Q: Why might a rolling budget require more management participation than an annual budget?

A: Budget: It is an estimated and effective way of the utilization of funds for the financial control…

Q: One of your colleagues comments: ‘The time span involved in life-cycle budgeting makes it too…

A: Life cycle budgeting is the process of assigning all costs that the owner of an asset will incur…

Q: What are the benefits of Kaizen budgeting?

A:

Q: What is the importance of a cash flow budget or report

A: Ans. A cash flow budget or report helps a company to understand how much cash is coming into the…

Q: hat are the advantages and disadvantages of the new way of beyond budgeting?

A: Beyond budgeting - It is a concept which focuses on the adaptive management process and encourages…

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 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 are the primary benefits that Angelini's will gain from preparing and using a budget?

A: Budgeting: A budget is a financial outline and a tool  which businesses use to plan for financial…

Q: Budgets are half-used if they serve only as a planning device? Explain.

A: The financial position of the company can be arrived from the income statement prepared by the…

Q: . What data might you need to collect, and from whom, in order to construct a cash flow budget?

A: solution: What data might you need to collect, and from whom, in order to construct a cash flow…

Q: budget flexed? Give an Example.

A: Flexing of budget is a method used to prepare estimates of the future level of revenues and…

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 limitations of the traditional budget? Despite the limitations, why it is still widely…

A: A budget is a financial plan used by organizations for a particular period of time, generally a…

Q: what is problems in budgeting and give the examples

A: Answer: Budgeting is the preparation of statement which gives estimation to the expenses of the…

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: 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 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: Out of the following options please tell me which are two dimensions or the main aspects of…

A: Budgeting is the process of making a plan for how person or organization will spend the money. A…

Q: Money management. How important of budgeting with spending?

A: Budgeting is referred to as the process for the creation of the plan in order to spend the funds of…

Q: Why do organizations create budgets?  What is the purpose or desired outcome?  What would happen if…

A: Budget: Budget is the process of identifying, collecting, and summarizing the financial information.…

Q: Beyond Budgeting: Managing without budgets

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

Q: What is the function of a cash budget? A capital budget?

A: Budgeting can be defined as the process of estimating future performance of a company. Budgets are…

Q: What is zero base budgeting? Discuss its merits and limitations.

A: What is zero based budgeting? Zero based budgeting is a concept of planning the future activities in…

Q: Explain the situation: "Managing Without Budgets: Going Beyond Budgeting"

A: Introduction: Budgeting isn't the only thing that has to be done. Beyond Budgeting is the concept of…

Q: Why is the cash budget regarded as a primary tool in short-run financial planning? Discuss.

A: A business needs funds to run its operations. It needs money to run its day-to-day operations and to…

Q: What is the benefit of continuous budgeting?

A: Budget: It is an estimated financial plan for future time period. It is used by management as an…

Q: budgeting in the industrial age versus the information age

A: Information Age:According to me in traditional costing system(Before Industrial Revolution),…

Q: How can an organization help to reduce the problems caused by budgetary slack?

A: Definition: Budgetary slack: The manager intentionally creates a slack into the budget as to avoid…

Q: what is meant by a “limiting budget factor”

A: Solution: Limiting budget factor is a constraint that prevents expanding the budget when prepared.

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: 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: Is participative budget more favorable than impose budget? Justify your answer

A: Introduction:- Participative budgeting is an essential budgeting method that allows organizations to…

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: All budgets depend on the sales budget. Is this true? Explain.

A: The sales budget is used in order to anticipate future revenues of the company that depends on…

Q: Which of the following is a use of budgets for control? * A. plans can be made for the future B.…

A: Controlling activities are those activities which aid in monitoring the performance of a particular…