Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly. Requirement 1: To State: The ways in which budgeting helps manager plan and control the business

Question

Want to see more full solutions like this?

Answer 1

Question

Chapter 22, Problem 1DQ

To determine

Introduction:

Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly.

Requirement 1:

To State:

The ways in which budgeting helps manager plan and control the business

Expert Solution & Answer

Answer to Problem 1DQ

Solution:

There are multiple ways in which the budgeting helps the managers plan and control the business which includes controlling the income and expenditure, guiding the manager in taking critical decision and helping them in controlling and allocating the resources of the company.

Explanation of Solution

Budgeting helps control income and expenditure for the organization. The managers have a yardstick in form of budgets to compare and control the income and expenditure. The managers can gauge the actual income and expenditure and compare it with the budgets to identify and analyze the variances and take corrective action for future course of actions.
Budget guides the managers in taking important decisions in relation to finances, sales, production and all other expenses. The budget helps the managers plan the activities in relation to the available budget to maintain the bottom line of the organization.
Budgeting helps the manager control the available resources and allocate them effectively for optimal utilization.

Conclusion

Budget is an excellent tool for the manager in controlling the expenses, income and resources within the organization and all levels of management must be involved in the budgeting to ensure optimal participation and adherence to budgets

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Which item would appear on the statement of retained earnings?A. DividendsB. InventoryC. Prepaid RentD. Notes Payable

What does a classified balance sheet do that an unclassified one does not?A. Uses the cash basis of accountingB. Categorizes assets and liabilities into current and long-termC. Shows only owner’s equityD. Omits depreciation

4. The normal balance of an asset account is:A. CreditB. DebitC. ZeroD. It depends on the assetno ai

Answer 2

Question

Chapter 22, Problem 1DQ

To determine

Introduction:

Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly.

Requirement 1:

To State:

The ways in which budgeting helps manager plan and control the business

Expert Solution & Answer

Answer to Problem 1DQ

Solution:

There are multiple ways in which the budgeting helps the managers plan and control the business which includes controlling the income and expenditure, guiding the manager in taking critical decision and helping them in controlling and allocating the resources of the company.

Explanation of Solution

Budgeting helps control income and expenditure for the organization. The managers have a yardstick in form of budgets to compare and control the income and expenditure. The managers can gauge the actual income and expenditure and compare it with the budgets to identify and analyze the variances and take corrective action for future course of actions.
Budget guides the managers in taking important decisions in relation to finances, sales, production and all other expenses. The budget helps the managers plan the activities in relation to the available budget to maintain the bottom line of the organization.
Budgeting helps the manager control the available resources and allocate them effectively for optimal utilization.

Conclusion

Budget is an excellent tool for the manager in controlling the expenses, income and resources within the organization and all levels of management must be involved in the budgeting to ensure optimal participation and adherence to budgets

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Question

Chapter 22, Problem 1DQ

To determine

Introduction:

Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly.

Requirement 1:

To State:

The ways in which budgeting helps manager plan and control the business

Expert Solution & Answer

Answer to Problem 1DQ

Solution:

There are multiple ways in which the budgeting helps the managers plan and control the business which includes controlling the income and expenditure, guiding the manager in taking critical decision and helping them in controlling and allocating the resources of the company.

Explanation of Solution

Budgeting helps control income and expenditure for the organization. The managers have a yardstick in form of budgets to compare and control the income and expenditure. The managers can gauge the actual income and expenditure and compare it with the budgets to identify and analyze the variances and take corrective action for future course of actions.
Budget guides the managers in taking important decisions in relation to finances, sales, production and all other expenses. The budget helps the managers plan the activities in relation to the available budget to maintain the bottom line of the organization.
Budgeting helps the manager control the available resources and allocate them effectively for optimal utilization.

Conclusion

Budget is an excellent tool for the manager in controlling the expenses, income and resources within the organization and all levels of management must be involved in the budgeting to ensure optimal participation and adherence to budgets

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Question

Chapter 22, Problem 1DQ

To determine

Introduction:

Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly.

Requirement 1:

To State:

The ways in which budgeting helps manager plan and control the business

Expert Solution & Answer

Answer to Problem 1DQ

Solution:

There are multiple ways in which the budgeting helps the managers plan and control the business which includes controlling the income and expenditure, guiding the manager in taking critical decision and helping them in controlling and allocating the resources of the company.

Explanation of Solution

Budgeting helps control income and expenditure for the organization. The managers have a yardstick in form of budgets to compare and control the income and expenditure. The managers can gauge the actual income and expenditure and compare it with the budgets to identify and analyze the variances and take corrective action for future course of actions.
Budget guides the managers in taking important decisions in relation to finances, sales, production and all other expenses. The budget helps the managers plan the activities in relation to the available budget to maintain the bottom line of the organization.
Budgeting helps the manager control the available resources and allocate them effectively for optimal utilization.

Conclusion

Budget is an excellent tool for the manager in controlling the expenses, income and resources within the organization and all levels of management must be involved in the budgeting to ensure optimal participation and adherence to budgets

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Chapter 22, Problem 1DQ

To determine

Introduction:

Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly.

Requirement 1:

To State:

The ways in which budgeting helps manager plan and control the business

Expert Solution & Answer

Answer to Problem 1DQ

Solution:

There are multiple ways in which the budgeting helps the managers plan and control the business which includes controlling the income and expenditure, guiding the manager in taking critical decision and helping them in controlling and allocating the resources of the company.

Explanation of Solution

Budgeting helps control income and expenditure for the organization. The managers have a yardstick in form of budgets to compare and control the income and expenditure. The managers can gauge the actual income and expenditure and compare it with the budgets to identify and analyze the variances and take corrective action for future course of actions.
Budget guides the managers in taking important decisions in relation to finances, sales, production and all other expenses. The budget helps the managers plan the activities in relation to the available budget to maintain the bottom line of the organization.
Budgeting helps the manager control the available resources and allocate them effectively for optimal utilization.

Conclusion

Budget is an excellent tool for the manager in controlling the expenses, income and resources within the organization and all levels of management must be involved in the budgeting to ensure optimal participation and adherence to budgets

Answer 6

Chapter 22, Problem 1DQ

To determine

Introduction:

Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly.

Requirement 1:

To State:

The ways in which budgeting helps manager plan and control the business

Expert Solution & Answer

Answer to Problem 1DQ

Solution:

There are multiple ways in which the budgeting helps the managers plan and control the business which includes controlling the income and expenditure, guiding the manager in taking critical decision and helping them in controlling and allocating the resources of the company.

Explanation of Solution

Budgeting helps control income and expenditure for the organization. The managers have a yardstick in form of budgets to compare and control the income and expenditure. The managers can gauge the actual income and expenditure and compare it with the budgets to identify and analyze the variances and take corrective action for future course of actions.
Budget guides the managers in taking important decisions in relation to finances, sales, production and all other expenses. The budget helps the managers plan the activities in relation to the available budget to maintain the bottom line of the organization.
Budgeting helps the manager control the available resources and allocate them effectively for optimal utilization.

Conclusion

Budget is an excellent tool for the manager in controlling the expenses, income and resources within the organization and all levels of management must be involved in the budgeting to ensure optimal participation and adherence to budgets

Answer 7

Chapter 22, Problem 1DQ

To determine

Introduction:

Budgeting in an organization provides a road map to the managers for achieving the goals of the organization. Budgeting helps the company control the finances and expenses, helps in forecasting and comparing with actuals to control variances and grow constantly.

Requirement 1:

To State:

The ways in which budgeting helps manager plan and control the business

Answer 8

Expert Solution & Answer

Answer to Problem 1DQ

Solution:

There are multiple ways in which the budgeting helps the managers plan and control the business which includes controlling the income and expenditure, guiding the manager in taking critical decision and helping them in controlling and allocating the resources of the company.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Explanation of Solution

Budgeting helps control income and expenditure for the organization. The managers have a yardstick in form of budgets to compare and control the income and expenditure. The managers can gauge the actual income and expenditure and compare it with the budgets to identify and analyze the variances and take corrective action for future course of actions.
Budget guides the managers in taking important decisions in relation to finances, sales, production and all other expenses. The budget helps the managers plan the activities in relation to the available budget to maintain the bottom line of the organization.
Budgeting helps the manager control the available resources and allocate them effectively for optimal utilization.

Answer 12

Conclusion

Budget is an excellent tool for the manager in controlling the expenses, income and resources within the organization and all levels of management must be involved in the budgeting to ensure optimal participation and adherence to budgets

Answer 13

Ch. 22 - Prob. 1DQ Ch. 22 - Prob. 2DQ Ch. 22 - Prob. 3DQ Ch. 22 - Prob. 4DQ Ch. 22 - Prob. 5DQ Ch. 22 - Prob. 6DQ Ch. 22 - Prob. 7DQ Ch. 22 - Prob. 8DQ Ch. 22 - Prob. 9DQ Ch. 22 - Prob. 10DQ

Concept explainers

Videos

Answer to Problem 1DQ

Explanation of Solution

Want to see more full solutions like this?

Chapter 22 Solutions