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

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: __________________is the cornerstone of the master budget?

A: The  Answer

Q: How are budgets used as monitoring and control tools?

A: Budgets are quantitative statements that contain the details of the planned revenues, expenditures,…

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 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 budgeting cycle? Explain?

A:

Q: What are the Cycles of Budgeting Process in Government?

A: The government's main aim will be to serve for the welfare of the people, and to maintain the…

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?

A:

Q: What is the function of a cash budget? A capital budget?

A: A cash budget is a financial plan or plan of projected money receipts and payment during the period.…

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: Why is the preparation of a sales forecast one of the earlieststeps in preparing a master budget?

A:

Q: What

A: Budgets act as an instrument of coordination.

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 is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

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: 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 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: 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: What is budgetary control?

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

Q: How would you recognize the importance of using contingency funds for cost estimation, budgeting and…

A: Contingency funds are additional funds that a company would set aside to meet any cost of potential…

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: Where are imposed budgets effective?

A: Imposed Budgets: These are top-down budgets which are made by top management and then imposed on…

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 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 is a budget? What is budgetary control?

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

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 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 are the major advantages of self-imposed budgets? Whatcaution must be exercised in their use?

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

Q: Why does a company's budget need to be closely linked to the needs of good strategy execution? Why…

A: Because insufficient cash and other forms of resources hamper development and inhibit organisational…

Q: What is the function of a cash budget? A capital budget?

A: Budgeting can be defined as the process of estimating future performance of a company. Budgets are…

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: 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: 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: 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: res of a budget

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