If I write down all my fixed expenses at the beginning of each month. Introduction: Budgeting is the basic need of any business or personal finance . Budgeting enables the person or business to plan its revenue and expenditure. Budgetary control is the most useful method of managerial controls, which helps in setting standards for revenue and expenses and analyzing the performance on the basis of standards. The comparison of standards with actual is called variances analysis.

Question

Want to see the full answer?

Answer 1

Question

Chapter 15, Problem 2AYSSL

Summary Introduction

To discuss:

If I write down all my fixed expenses at the beginning of each month.

Introduction:

Budgeting is the basic need of any business or personal finance. Budgeting enables the person or business to plan its revenue and expenditure. Budgetary control is the most useful method of managerial controls, which helps in setting standards for revenue and expenses and analyzing the performance on the basis of standards. The comparison of standards with actual is called variances analysis.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

Financial Misconduct: Enron Scandal Outline and discuss what “triggered” the regulatory body to intervene? How effective do you think the response was to such a crisis? Outline and discuss two ways that could be used to strengthen the current regulatory environment?

5:06 one REPORT WRITING Cover page - Table of contents Executive summary Introduction Conclusion References Appendix 11 Question 1 Ivan Institute has secured funds to construct an oval-like lecture hall at their new campus at a cost of 3 million United States Dollar As a consultant of the project, you have a mandate to package the project for the most qualified contractor. Carry out the procurement process from advertisement to award ப

Question 2 Your company has been awarded a contract to erect 124 pylons for an electricity company. The table below shows the sequential activities involved in the construction of each pylon together with the estimated labour hours and optimum number of operatives for each activity. The handover rate specified is six pylons per week and this can be taken as the target rate of build. Prepare a line of balance schedule assuming that each gang works at its natural rate. State clearly the contract duration. Assume a five-day working week, eight hours per day, and a minimum buffer time of two days Activity Description Labour-hours Optimum number of operatives per activity 55 A Excavate 4 B Concrete foundations 64 4 145 C Erect tower D Fix cantilever cable arms 90 E Fix insulators 25 885