Illustrate and explain budgeting as a managerial tool in government organizations to account for changing revenues and costs.

Q: Describe the benefits of preparing a budget to an organization

A: Budget means what is required to be done compair it actual to what is actually happned in other…

Q: Which provides the most benefit to an organization, a budget or the budgeting process? Why?

A: Budget: A budget is a systematic allocation of resources to different departments depending on the…

Q: Explained how the company's budgetary control system could be revised to improve its effectiveness.

A: The company is work on the budget to be initially made with a view to follow the pattern…

Q: What functional role do management accountants play in the budgeting process?

A: A budget is a type of financial plan that is used by managers to estimate revenues and expenses for…

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: Which of the following is not considered a benefit of the budgeting​ process?   a. Gives managers…

A:

Q: Define the role of the budget in the public sector. Describe Performance Based Budgeting and give an…

A: The process of budget is basically the allocation of resources to different category, based on the…

Q: What is the impact of responsibility reporting and budgeting on an organization?

A: A manager's performance is evaluated based on matters that are directly under the control of that…

Q: An evaluation of the role that budgets play in the effective planning and control of resources in an…

A: Budgets are an essential tool for effective planning and control of resources in an organisation.…

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: 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: How are standards used by management in evaluating organizational units, as to their budgetary…

A: A budget refers to the financial plan that is used by managers in order to estimate revenues and…

Q: what is contemporary organization and would you recommend budgeting for contemporary organisations…

A: Contemporary organization It is a type of organizational structure that is fluid and it is easy to…

Q: How does budgeting help management coordinate and plan business activities?

A:

Q: Explain the role and limitations of budgeting in business organizations. Support your answer with…

A: The answer is stated below:

Q: Discuss how are budgets used to help organizations plan for future and how are budgets used for…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: Explain what responsibility accounting is and how budgets are used in responsibility accounting. How…

A: Responsibility accounting: Responsibility accounting includes accounting and forecasting. It assists…

Q: Describe the 5 types of budgets listed for these Wk 3 Financial Exercises. Problem Set 2, Part 1. In…

A: Answer: Type of Budget Description TYPE OF BUDGET DESCRIPTION  CASH FLOW Predicting future…

Q: Which of the following is a feature that distinguishes a traditional performance budget from other…

A: Quantitative performance objectives for agencies and departments is a feature that distinguishes a…

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: Organizations rely on effective budgetary planning for successful financial performance. Explain how…

A: Budgeting: Budgeting is a process of estimating future income, expenses and cash flow for a future…

Q: what is another name for tactical planing a) Budgetary planing  b)  operation planing c)…

A: The question is multiple choice question. Required  Choose the Correct Option.

Q: Which one of the following is NOT a budgetary benefit? It establishes the organization's goal. It…

A: Budgeting is a written plan covering projected activities of a firm for a defined period of time…

Q: plain the financial aspects of planning and costing as embe

A: Budget : It is an expression of an organisation's plan, policies and programmes in the form of…

Q: Which of the following is true in a bottom-up budgeting approach?   a.Supervisors tell departments…

A: Management adapts the current year's budget to suit future objectives, making changes as needed.…

Q: Explain the importance of budgeting in financial management and discuss the key steps involved in…

A: Planning and Goal Setting: Budgeting allows organizations to set financial goals and objectives,…

Q: (3) Explain the ethical considerations as it relates to using budgets as a basis for rewarding…

A: 3)   Using budgets as a basis for rewarding managers can lead to conflict of interest. The managers,…

Q: Describethe best practices you would implement when budgeting for an organization.

A: Budgeting is the management regular process in an organization to determine the future outcomes, and…

Budgeted Income Statement

Accounting is the process of recording business-related financial transactions. The process of accounting involves summarizing and analyzing the transactions. The financial statements which are prepared in accounting contain a summary of the various transactions that took place within a certain accounting period. Book-keeping or accounting is one of the most important activities of any business.