Define the term financial budget.

Q: briefly discuss the budgeting process

A: Budget: Budget is a statement prepared by the management for a specific tenure, to accomplish the…

Q: what are the first two steps of a master budget? and are there formulas that are used for those…

A: The first two steps of a master budget are as follows: 1) Preparation of sales budget. A sales…

Q: Explain the term of operating budget.

A: Introduction Budget is monetary plan for future. It deals with where the company wants to reach in…

Q: The master budget will comprise of what?

A: A MASTER BUDGET IS A SERIES OF SMALLER BUDGETS THAT ARE ROLLED UP INTO ONE LARGER BUDGET TO PROVIDE…

Q: A budgeted income statement is prepared from which budgets

A: The budget is prepared to estimate the requirements for the future period.

Q: A budget is a way of

A: A financial budget is prediction of expenses and income for a future period of time. Business…

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: xplain the steps in developing a cash budget.

A: Set the time period for which you wanted to prepare a cash budget Opening Balance of the cash…

Q: Example of preparing a Pro Forma Balance Sheet Statement Budget

A: Pro Forma:   A pro forma statement could be a prediction, and a budget is a plan. Your budget could…

Q: Briefly outlines the functional budgets that may be prepared as part of the budgeting process.

A: The functional budgets that may be prepared as part of the budgeting process include the personnel…

Q: Define direct material budget.

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

Q: What is a budget?

A:

Q: Define static budget.

A: Budget is a estimation of revenue and expenses for a future period of time

Q: Define cash budget

A: A budget is a statement prepared to find out future incomes and expenditures. It is a plan prepared…

Q: How to compute the flexable budget items.

A: Flexible Budget: When the sales volume and price value and production volume etc  stable conditions…