The accountant perspective of the budget views the budget as a rational decision-making tool? True or false

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: Some critics of budgeting believe that budgets are effective tools for planning but not for…

A: The question is based on the concept of budgeting and its utilization in management decision making.…

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: “The sales forecast is the cornerstone for budgeting.” Why?

A:

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: 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: 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: What functional role do management accountants play in the budgeting process?

A: A budget is a type of financial plan that is used by managers to estimate revenues and expenses for…

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 are the benefits of budgeting?

A: Budgeting is the process of designing, implementing, and operating budgets. It is the managerial…

Q: Budgets are the best management tool, but I think they can cause arguments and disagreements between…

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

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 are the risks and benefits of both internal and external budget preparation?

A: Budgeting is a process in which selected organizations and individuals are assigned certain…

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

A:

Q: What are the basic benefits and purposes of developing pro forma statements and a cash budget?

A: Budgeting and preparing the pro forma statements are two different accounting processes. But…

Q: What is budget control

A: PLEASE LIKE THE ANSWER   Budget control is a technique where actual results compared with 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: Explain why budgets are useful and how management philosophy can influence the budget process.

A: Budget is the estimated data which is prepared or estimated in advance, in simple terms before…

Q: how will the skills and knowledege in constructing cash budget be applicable on the job of…

A:

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

A:

Q: What are the major objectives of budgeting? Briefly describe the type of human behavior problems…

A: 1. Objectives of budgeting: Anticipation of future financial condition and future needs for funds…

Q: What is a flexible budget? Explain how a flexible budgetincreases the usefulness of budgeting as a…

A: A flexible budget is a budget that can be easily adjusted to reflect the changes in the volume of…

Q: what is budgeting is accounting? Explain its significance and applications with examples ?

A: The process of estimating future income and losses is called budgeting. In other words, it is the…

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: 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: Why is it important to have a fair, balance criteria in making budge

A: Budgeting model is the model which establish the budget for business where it match the actual…

Q: Why are human factors critical in budgeting?

A: budgeting is such a process under which a detail plan of spending of the businesses is done in order…

Q: Money management. How important of budgeting with spending?

A: Budgeting is referred to as the process for the creation of the plan in order to spend the funds of…

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 behavioral problems are associated with setting a budget too loosely

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: Why is a clear understanding of management’s goals and objectives necessary for effective budgets?

A: Budgeting is a process of planning future expenses and income so that an organization ensure 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: _________________is a component in a financial budget

A: The Answer

Q: What are the budgeted financial statements? How do they differ from regular financial statements?

A: Financial statements: Financial statements are condensed summary of transactions communicated in 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: what is the budget development process?

A: A budget is an instrument for planning, executing, and managing operations in order to make the most…

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: 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: 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 relationship between the master budget and responsibility accounting?

A: Definition of budget: According to CIMA Budget means " Quantitative expression of a plan for a…

Q: res of a budget

A: There should be a proper fixation of authority and responsibility. The delegation of authority…

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.