A budget represents a target and aiming towards a target can be a powerful motivator. However, whether the target will actually cause employees to do better is thought to depend on how difficult the target is perceived to be. Required Evaluate the motivational considerations that should be made in the setting up of a budgetary planning and control system.

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: managers duty to take appropriate action when accounting reports indicate

A: Managers are involved in planning and implementing appropriate actions to lead the organization…

Q: Why is it important that a firm prepares a budget and how they analyze the ongoing performance? What…

A: Budgeting is a financial plan that helps the organization in effective utilization of its resources.…

Q: Which of the following is not an accepted principle of effective budgeting?   A• Flexibility B• Top…

A: Budgeting refers to the plan that an entity makes and how it is going to spend the money. The budget…

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: Budgeting serves various purposes including planning, control, motivation and communication. You…

A: Budgeting is an essential tool utilized by businesses of all sizes and in all industries. It is a…

Q: Which of the following statements are TRUE? 1. Responsibility accounting attempts to assign blame…

A: Statement I: Responsibility accounting helps identify and track costs that specific managers can…

Q: Which of the following is not a part of budgeting?A. planningB. finding bottlenecksC. providing…

A: Budgeting is an important process in management accounting. Budgets means estimates or forecasts…

Q: Budgeting can be an important management tool if implemented properly. Identify several positive…

A: A plan that is written down and followed to determine how one will spend money on a monthly basis is…

Q: What are some characteristics of performance-based budgeting? What are some advantages and…

A: “Hi There, Thanks for posting the questions. As per our Q&A guidelines, must be answered only…

Q: Required: Identify the problems that appear to exist in the company’s budgetary control system and…

A: Budgetary Control System:- It is a system in which the actual income and expenditure of the company…

Q: Activity-based budgeting focuses on estimating the costs of activities rather than the costs of…

A: Activity-Based BudgetingABB is a budgeting strategy that focuses on identifying and arranging…

Q: CE Company reported the following information for 2022: Budgeted sales $1225000 $1310000 All sales…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: 5) Budgets can be used to motivate employees because budgeted performance levels can provide goals…

A: A budget is defined as a comprehensive financial plan that outlines anticipated income, expenses,…

Q: What steps should be considered if a budget is to be set and later have its results evaluated? What…

A: The budget refers to an estimate made for all possible income and expenses, based on past records…

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: . Budgeting involves ________. establishing specific goals executing plans to achieve the…

A: Budgeting: The act of developing a strategy for how to spend your money is known as budgeting. A…

Q: Which of the following is not a benefit of budgeting? O Provide a way to measure business…

A: The answer is : Provide a way to hire specialized labors. Hiring specialised labour is not something…

Q: indicate yes if it describes a potential benefit of budgeting orno if it describes a potential…

A:

Q: Discuss the factors that are likely to cause managers to submit budget estimates of sales and costs…

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

Q: 1. Explain the concept of responsibility accounting and its relation with budgeting.

A: Hello. Since your question has multiple parts, we will solve first question for you. If you want…

Q: A SMART goal is specific, making, actionable, relative, timely. significant, making, actionable,…

A: since you have asked multiple, we will solve the first question for you if you want any specific…

Q: The successful use o a budgeting system Acceptance and support by key management people. A sense of…

A: Accordingly, Option (d) i.e. inclusion of "budgetary slacks" in most budgets is the correct answer.

Q: Explain the concept of “master budget” and critically discuss its benefits to an organization.

A: A budget is an estimation of expenses as well as revenues which will be earned and incurred during…

Q: Budgets need to be fair and attainable for employees to consider the budget important in their…

A: The objective of the question is to identify which of the given situations can potentially lead to…

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: Control is the process that includes the following except:

A: Control is checking current performance against pre-determined standards contained in the plans,…

Q: 1. Budgets should not be used to motivate and reward employees.   2. Budgets play an important…

A: Budgeting: Budgeting means forecasting for the future , To achieve goals in business budgeting to be…

Q: Which of the following describe the control aspect of the budgeting process? Please select all that…

A: The control aspect of the budgeting process refers to the steps taken to monitor actual results and…

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: Which of the following is NOT true of the budgeting process?   Question 8 options:   Budgeting…

A: Solution Concept Budgeting process is the process of estimating the income and expenditure of the…

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit.  Overhead expenses depend upon the nature of the business operations.