Why is it important to have a fair, balance criteria in making budge
Q: Many accountants believe that the most important benefit of the master budgeting process is the…
A: Master budget: The master budget is the core budget that describes the full process of budget. This…
Q: Explain the value of utilizing a balance sheet to make a budget adjustment. What is the danger?
A: The budgeted balance sheet is usually prepared at the start of the fiscal year. The organization…
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: Why is it important to include a budgetary committee in the budgeting process?
A: Budgeting is a process of forecasting of revenues, expenses, investments for the future period of…
Q: 4. The following are characteristics of an effective budget, EXCEPT: A. Goals should be attainable.…
A: Hi student Since there are multiple question, we will answer only first question.
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: Define the terms relative-performance (relative-improvement) contract and rolling financial…
A: Relative performance: It is related to the evaluation of the performance of an individual based on…
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: 1.) Why is it necessary to determine and confirm scope and nature of budgetary planning activity…
A: answer It is necessary to determine and confirm scope and nature of budgetary planning activity with…
Q: Briefly describe the type of human behavior problems that might arise if budget goals are set too…
A: A budget is a financial plan for a defined period, often one year. It may also include planned sales…
Q: hy is it important to comply with ethical provisions and be transparent in budgeting?
A: Budgeting refers to the process of formulating a plan which describes the ways and zones under which…
Q: Which of the following is not a benefit of budgeting? a. It sets some standards to evaluate…
A: Budgeting is defined as the procedure of planning the manner in which the work to be conducted and…
Q: Which of the following statements is incorrect? * O An imposed budget is the same as a participative…
A: Answer: Budget is the statement that is prepared for revenue and expenses as an estimation made by…
Q: Which among the following is not an element of budgeting? a. Budgeting should state the firm’s…
A: Budgets are prepared on weekly, monthly, or yearly basis to make plans for the future which needs to…
Q: There are a number of benefits associated with budgeting. Which of the following is not frequently…
A: Budgeting refers to the process of estimation of revenues and expenses for an entity over a specific…
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 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: . Why is it important to provide relevant colleagues with adequate notice of the opportunity to…
A: Answer: It is important to provide relevant colleagues with adequate notice of the opportunity to…
Q: 1(a) "Accounting plays a relatively unimportant role in budgeting." Do you agree? Explain. (b)…
A: 1 (a) “Accounting plays a relatively unimportant role in budgeting” this statement is not correct…
Q: "budget performance is a better criterion than past performance for judging managers." Do you agree?…
A: The budget is a statement in which the estimated standards are set according to the needs of the…
Q: indicate yes if the item is an important budgeting guideline orno if it is not. Goals in a budget…
A: Budgeting: Budgeting is a very important process in managing the future financing affairs of a…
Q: What are some challenges and weaknesses that a firm may find in the budgeting process?
A: The lack of proper monitoring and review, lack of clear policy and procedures on budgets, poor…
Q: Briefly describe the type od human behavior problems that might arise if budget goals are set too…
A: Budgeting is defined as the process or procedure, which used to prepare the plan regarding the…
Q: 1. The organizational process of budgeting performs several important functions. Which is true? A.…
A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…
Q: A budget represents a target and aiming towards a target can be a powerful motivator. However,…
A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…
Q: balance criteria in budgeting?
A: while making balance criteria in budgeting i always follow these steps; Establish your budgetBefore…
Q: Which stakeholders might be more interested in the budget rather than the financial statements? Why?
A: Stakeholders of the organization are the people having some kind of interest vested in the…
Q: indicate yes if it describes a potential benefit of budgeting orno if it describes a potential…
A: Budgeting is very important process in managing future financing affairs of a business enterprise.…
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: 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: 'Budgeting has a number of different purposes including: Planning; Control; Performance evaluation;…
A: Budgeting is a process to prepare the financial statement by the manager to estimate the…
Q: Which of the following best describes the role of top management in the budgeting process? Should…
A: Correct option is 3.Should be enthusiastic and committed to the budget process
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: 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: 2 Which of the following items does not follow from the adoption of a budget? a. Deterrent to waste…
A: Financial statements are statements which states the business activities performed by the company .…
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: 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: 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: budget performance is abetter critical than past performance for judging managers" do you agree…
A: For judging the current performance we need a benchmark against which we can see and compare and…
Q: Explain the phrase: "Beyond Budgeting: Managing without budgets"
A: Solution:- Beyond Budgeting: - Beyond Budgeting is the idea of abolishing traditional budgeting…
1. Why is it important to have a fair, balance criteria in making budgeting model?
2. Why is it important to follow ethical provisions in making budgeting model?
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- What are the three major objectives of budgeting? Briefly describe the type of human behavior problems that might arise if budget goals are set too tightly.What are the advantages and disadvantages of the participatory approach to budgeting?Which of the following is not an accepted principle of effective budgeting? A• Flexibility B• Top management support C• Communication of results D• Responsibility accounting
