Why is budgeting process time consuming?

Q: Why is participative budgeting often an effective management tool?

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Q: What is continuous budgeting?

A: Continuous budgeting refers to when a budget of a month ends, immediately the succeeding month…

Q: Why might managers find a flexible-budget analysis more informative than a static-budget analysis?

A: Static Budget: Static budget is a fixed budget prepared for a particular period of time without…

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 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?

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Q: How does a continuous budget work? Is a rolling budget the same thing?

A: A budget is used to forecast a company's financial results and financial status for the future. It's…

Q: What are the benefits of Kaizen budgeting?

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

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Q: What assumption is implicitly made about cost behavior when actual results are directly compared to…

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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: 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 life-cycle budgeting?

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

Q: What is a flexible budget and how does it differ from a static planning budget?

A: A flexible budget is a budget which can be adjusted to changes in volume or activity on which budget…

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: How does the static budget affect the cost and efficiency variances?

A: Definition:   Static budget: Static budget is a master budget that is prepared for only one level of…

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?

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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 is the advantage of using a flexible budget?

A: Budget is prepared at the start of the year so as to estimate the cost of producing any product that…

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: 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 some of the dangers associated with failing to develop and manage budgets?

A: The following are the dangers associated with failing to set and manage budgets: 1) Incorrect…

Q: What assumption is implicitly made about cost behavior when a budget is directly compared toactual…

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Q: What is a fixed budget

A: Budget: A budget is a forecast of revenue and expenses for a specific future period of time that is…

Q: How is a flexible budget used?

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Q: What assumption is implicitly made about cost behavior when all of the items in a static planning…

A: Static Budget:   A budget that doesn’t changes with the volume of activity throughout the period is…

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: What is zero base budgeting? Discuss its merits and limitations.

A: What is zero based budgeting? Zero based budgeting is a concept of planning the future activities in…

Q: Define the term budgetary slack, and briefly describe a problem it can cause.

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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: How can sensitivity analysis be used to increase the benefits of budgeting?

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Q: What is the benefit of continuous budgeting?

A: Budget: It is an estimated financial plan for future time period. It is used by management as an…

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: How can an organization help to reduce the problems caused by budgetary slack?

A: Definition: Budgetary slack: The manager intentionally creates a slack into the budget as to avoid…

Q: what is meant by a “limiting budget factor”

A: Solution: Limiting budget factor is a constraint that prevents expanding the budget when prepared.

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: Is participative budget more favorable than impose budget? Justify your answer

A: Introduction:- Participative budgeting is an essential budgeting method that allows organizations to…

Q: What are the different benefits of rolling budget?

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Q: Explain the phrase: "Beyond Budgeting: Managing without budgets"

A: Solution:- Beyond Budgeting: - Beyond Budgeting is the idea of abolishing traditional budgeting…

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…