What are the major advantages of self-imposed budgets? Whatcaution must be exercised in their use?

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: better system for performance analysis?

A: A flexible budgeting system is a type of budgeting which is based on various sales volumes and it…

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

A:

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: 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: Budgets, Fixed Budgets and Flexible Budgets

A: Fixed Budgeting:The leased Institute of Management Accountants (UK) defines a hard and fast budget…

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 is continuous budgeting?

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

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 benefits of Kaizen budgeting?

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Q: Which of the following is not the example of functional budget? Production Budget Cost of goods sold…

A: Functional Budget: Function Budget represent the function of a Business. For example to represent…

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 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 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 is the difference in purpose between an economic-enterprise budget and the results of the…

A: The purpose of the economic-enterprise budget is to estimate sales, costs, and, finally, the…

Q: Explain the difference between static and flexible budgets.

A: Flexible Budgets: Flexible budgets are prepared for various levels of activities or outputs. This…

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: How does a budget benefit management in its control function?

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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: How are budget variances calculated and used as performance measures? Provide numerical example?

A: budget is the predefined calculations that provide the plan of using the resources and generating…

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: Explain the difference between strategic and operational budgets.

A: Strategic budget: A strategic budget is a long-term financial plan. It achieves the long-term goals…

Q: What is a flexible budget and how does it differ from a static planning budget?

A: A flexible budget is a budget which can be adjusted to changes in volume or activity on which budget…

Q: What is a static budget performance report?

A: Static Budget Performance report: The Static Budget Performance report reports the variances.…

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: uses and advantages of budget?

A: The budget represents the estimation of the expenses to be incurred and revenue to be earned by the…

Q: What is the advantage of using a flexible budget?

A: Budget is prepared at the start of the year so as to estimate the cost of producing any product that…

Q: Where are imposed budgets effective?

A: Imposed Budgets: These are top-down budgets which are made by top management and then imposed on…

Q: How is a flexible budget used?

A:

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

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

Q: IDENTIFY AND DISCUSS THE DIFFERENCES BETWEEN STATIC AND FLEXIBLE BUDGETS.

A: A budget is defined as a plan layout designed for a particular period. It involves planning costs…

Q: What is a budget contingency and what are three reasons it might be useful?

A: In the context of project management, a contingency budget is a sum of money set aside to cover…

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

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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: what are the differences between top down and beyond budgeting?

A: Budgeting is the process of estimating the income and expenditure to control the actual income and…

Q: What is the difference among a master budget, pro forma budgets, and a flexible budget?

A: A budget is a financial plan that is prepared by all organizations for a particular period. The…

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: 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: 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: What is the key difference between a static budget and a flexible budget?

A:

Q: Can you explain what a rolling budget is?

A: Budget:   A budget is a statement of expected revenues and expenditures of the business for a…