When a company develops and implements a master budget, there is a tendency to incentivize adherence to the goal with bonuses or by tying the employee compensation plans to the achievement of the budget goals. What are some opportunities and risks of these financial incentive programs

Q: if an organisation is experiencing budget difficulty, what steps are suggested to improve compliance…

A: Budget is a financial tool used in planning, programming and control of business activity for a…

Q: What is the major benefit of tying a budget to the overall goals of the compan

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

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: When an organization involves its many employees in the budgeting process in a meaningful way, the…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

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

A:

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: A company can expect to receive which of the following benefits when it starts its budgeting…

A: Budgeting is the process of estimation of revenue and expenditure into the foreseeable future. It is…

Q: What are the benefits of tying a budget to the overall goals of the company?

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

Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…

A: Organizations produce budgets for a variety of purposes, including cost control, performance…

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: Which of the following is NOT an objective of the budgeting process?  Group of answer choices a -…

A: Budgeting is a process to plan about the activities for the business with developing goals so as to…

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: 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: A company can expect to receive which of the following benefits when it starts its budgeting…

A: Benefits when it starts budgeting process: The benefit of budgeting process is to compare the actual…

Q: Which one of the following is not considered to be a benefit of participative budgeting? When…

A: Budgeting - Budgeting is the estimation made by the managers of the organization based on the past…

Q: A budget represents a target and aiming towards a target can be a powerful motivator. However,…

A: Budgets are the estimated summaries for the costs to be incurred and revenues to be received. They…

Q: How can an organization prevent budgetary slack in the budgeting process since the bonuses of…

A: Budgetary slack can be prevented by thr following ways :- 1) By having a small group of managers for…

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: 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 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: Why do successful companies tend to use the bottom-up approach to establish a master budget?

A: The bottom-up approach increases the efficiency and productivity of the employees as the budget is…

Q: Which of the following is not a benefit of budgeting?   It allows for coordination between…

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

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.…

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.