What are the ethical provisions that needs to be followed in budgeting?

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

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

Q: Which provides the most benefit to an organization, a budget or the budgeting process? Why?

A: Budget: A budget is a systematic allocation of resources to different departments depending on the…

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: __________________is the cornerstone of the master budget?

A: The  Answer

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 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: Describe the benefits of budgeting.

A:

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: 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: What is the first step in preparing a master budget ?

A: The master budget seems to be the budget that combines all of the other budgets into a single budget…

Q: What

A: Budgets act as an instrument of coordination.

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 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: Describe the budgeting and planning process.

A: Budgeting process: The process of streamlining the future expenditure process by predicting or…

Q: What is budget control

A: PLEASE LIKE THE ANSWER   Budget control is a technique where actual results compared with the…

Q: What is a master budget? Briefly describe its contents.

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: 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 characteristics and importance of the budget?

A: In the context of the given question, we are required to explain the characteristics and importance…

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: how budgeting is useful in managing businesses?

A: Budget: The forecast of transactions on the basis of the available resources for a particular period…

Q: What is the reason for preparing a budget in business?

A: A budget is a systematic financial process to decide the future cash flows in advance to achieve 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 is contemporary organization and would you recommend budgeting for contemporary organisations…

A: Contemporary organization It is a type of organizational structure that is fluid and it is easy to…

Q: What is budgetary control?

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

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

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

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: n budgeting

A: The stakeholders are the guiding influence for any organization and knowing them is of utmost…

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 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: 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: 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…