What are the components of budgeting model and why is it important?

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: 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: a standard

A: A budget usually refers to a department's or a company's projected revenue, costs, or expenses. A…

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: 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 a self-imposed budget?

A: Budget:   It is a statement of estimated revenue and expenditure for a specific period.

Q: What is a budgeting cycle? Explain?

A:

Q: Why is the sales budget so important to the budgeting process?

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

Q: Why is budgeting process time consuming?

A: Budget -  Budget are a financial plant of the company prepared by the company every year and it will…

Q: What are the benefits of Kaizen budgeting?

A:

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: 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 is a flexible budget? Explain? Give example?

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

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 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 budget process fits into management’s planning process?

A: Planning as well as budgeting are critical components of managerial control. Efficient planning and…

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: 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: What is life-cycle budgeting?

A: Budgeting:Budgeting refers to preparation of financial statements that show all the incomes and…

Q: what are the three major objectives of budgeting?

A: A budget is a thorough roadmap of a company's economic activity. It is planned for the future based…

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: 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: 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: 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: 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: What is a static planning budget?

A: Budget:   It is a statement of revenues and expenditures to be incurred by the company for a…

Q: What are budgets used for?

A: Management accounting is one of the branches of accounting. Unlike financial accounting, the…

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 pro and cons for traditional budgeting?

A: Traditional Budgeting Traditional budgeting which provides the budgetary requirement 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: 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 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 true of budgets?

A: Budget:  Budget is an estimation of revenue and expenses over a specific period of time. It's a…

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: 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…