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

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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

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Students have asked these similar questions

Please explain this financial accounting problem with accurate financial standards.

On January 1, 2014, Wonder, Inc., reports net assets of $965,000, although equipment (with a four-year life) having a book value of $525,000 is worth $600,000, and an unrecorded patent is valued at $56,200. Halifax Corporation pays $910,000 on that date for an 85% ownership in Wonder. If the patent is to be written off over a 12-year period, at what amount should it be reported on consolidated statements at December 31, 2015?

How much overhead is applied in work in process?

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

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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

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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

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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

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