What is participative budgeting? What are its potential benefits? What are its potential shortcomings?

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: 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: 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: __________________is the cornerstone of the master budget?

A: The  Answer

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 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 are the benefits of Kaizen budgeting?

A:

Q: What factors can contribute to unsuccessful budgeting? How can these situations be avoided?

A: Introduction: Budgeting is a collection of tasks done to plan a budget. A budget is a quantitative…

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 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 dysfuncional behavior and budgetary slack？

A: Dysfunctional behavior is the behavior of the individual that is not in conformity with the…

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

A:

Q: What are the three major objectives of budgeting? Under what circumstances would a static budget…

A: Budgeting is a planning measure by which Business Entity make plan for the expected revenues and…

Q: What is a static budget performance report?

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

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: 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: What is a static budget? Explain? Give example?

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: What are the various kind of budgeting and critically compare the fixed and variable budgeting and…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: How does activity-based budgeting explain the logic of budgeting?

A: Activity based budgeting: It is a budgeting system where budgets are prepared based on the expected…

Q: What is a budget? What is budgetary control?

A: Managerial accounting:   Managerial accounting is more focused towards analyzing information and…

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

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

Q: The budgeting process can uncover potential___________________ before they occur.

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

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: what are the pro and cons for traditional budgeting?

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

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: Explain participative budgeting

A: Budgeting is a process of making a financial plan with respect to income and expenditure. The…

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: Do you think  that most decision making impacts both top-down and bottom-up budgeting?

A: Top down budgeting is a process where budget is prepared by the senior team of managers in the…

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

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

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: Would you prefer the use of bottom-up or top-down budgeting for project cost control? What are the…

A: Top-down budgeting is a budgeting strategy in which top management creates a high-level budget for…