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

Q: briefly discuss the budgeting process

A: Budget: Budget is a statement prepared by the management for a specific tenure, to accomplish the…

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: Discuss the importance of the cash budget.

A: Cash budget is a summary of cash inflows and cash outflows of a company during a particular period…

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 is a budgeting cycle? Explain?

A:

Q: Discuss the uses and advantages of budget.

A: A budget is a financial projection of a company's anticipated earnings and expenses. A budget, on…

Q: Who are the participants in the budgetingprocess, and how do they participate?

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

Q: What are the benefits of Kaizen budgeting?

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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: Explain the relationship between performance reports and flexible budgeting.

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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: What are the benefits of a master budget?

A: Master Budget:The master budget is the core budget that describes the full process of budget. This…

Q: Briefly tell how Program Based Budgeting (PBB) interface with the GIFMIS?

A: SOLUTION- Program-Based Budgeting is a budgeting tool where all budgetary information is organized…

Q: Discuss the importance of predictions and assumptions in the budgeting process.

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Q: One benefit of budgeting is coordination and communication. Explain what this means.

A: Budgeting: It is the process where the planning is done for spending less than the earning.

Q: Describe the steps in developing a flexible budget.

A: Flexible Budget: Flexible budget is a financial plan prepared for a particular period of time on…

Q: balance criteria in budgeting?

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

Q: Explain the role of budget in management cycle.

A: Management: It is an art of getting things done by others. The others include the employees of…

Q: Describe how nonoutput-based cost drivers can be incorporated into budgeting.

A: Budget: The budgeting is a process of preparing budgets and the evaluation of it to see whether the…

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 are the benefits of budgeting?

A: Budget means future forecast of the business. Budgeting is a process of making budgets. For example,…

Q: Define Kaizen budgeting.

A:

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: Explain the specific roles of planning, motivation, communication, evaluation and control in a…

A: Budgetary control is an exercise undertaken by the organization/entity to ensure that the period…

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 to compute the flexable budget items.

A: Flexible Budget: When the sales volume and price value and production volume etc  stable conditions…

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: 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: 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: Please list the three major objectives of budgeting.

A: BUDGET: A budget is an estimation to determine the income that will be earned and expenses that will…

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

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

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: 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: Why are budgets so important for all organizations, and what are some advantages and disadvantages…

A: Budget Meaning: Budgeting allows you to plan the finances of your organization. Budgeting is one of…

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…