discuss the different budgetary types and identify their main characteristics

Q: Explain the different purposes that a budget can have

A: Introduction:- Budgeting used to estimation of income and expenditure over a specified period of…

Q: Briefly explain “Self-Impose Budget or Participative” and “Master Budget”.

A: Here are given two terms. (1) Self imposed budget or participative budget (2) Master budget Lets…

Q: How is budget achieved in transportation.

A: Preparation and achieving the target of the prescribed budget is differentiated for the different…

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: Explain the differences between participation and non-participation as styles of budgeting and…

A: Budgeting is a crucial aspect of financial management, aiding organizations in planning,…

Q: What are some common challenges or obstacles encountered in the budgeting process?

A: The budgeting process is a systematic approach that organizations use to plan and allocate financial…

Q: Describe how many types of budgets are ?

A: The objective of the question is to understand the different types of budgets that are used in…

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: List and explain three levels involved in budgeting process

A: Budgeting can be defined as the process of putting a budget in place. This process includes planning…

Q: What is the most commonly used Comparison pertaining to the budget

A: the budgeting process is considered to be an essential component of the management control system as…

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: Define master budget.

A:

Q: Explain the concept of control and budgetary control

A: SOLUTION- CONCEPT OF CONTROL- IT IS ONE OF THE IMPORTANT FUNCTION OF MANAGER . IN ORDER TO SEEK…

Q: explain the advantages and limitations of budgetary control in detail

A: Budgetary control is the process of preparing budgets for the future time and comparing them to…

Q: uses and advantage of budget

A: Budget is referred to as an estimation of the expenses as well as revenues of the individual or the…

Q: Explain the difference between strategic and operational budgets.

A: Strategic budget: A strategic budget is a long-term financial plan. It achieves the long-term goals…

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: Describe the steps in developing a flexible budget.

A: Flexible Budget: Flexible budget is a financial plan prepared for a particular period of time on…

Q: Cite the differences of the major phases of budget process.

A: The spending cycle comprises of various stages: readiness and definition, financial plan. The…

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: 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: What are budgets used for?

A: Management accounting is one of the branches of accounting. Unlike financial accounting, the…

Q: In what way is the budgeting process a valuable tool in planning?

A: The budgeting process is a valuable tool in planning because it provides a detailed roadmap for…

Q: Define Kaizen budgeting.

A:

Q: Define static budget.

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

Q: Discuss four conditions necessary for effective budgeting.

A: Budgeting: The budgeting is a process of preparing budgets and the evaluation of it to see whether…

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: Purpose and importance of budgeting.

A: Budgeting is the process of creating a plan to allocate financial resources over a specific period,…

Q: What type of procedure is a Budget vs. Actual comparison?

A: Budget is a statement of cost and revenue which are estimated at the start of the period  Actual is…