- Budgets formulate expected performance and express managerial targets. Without such targets,
operations lack direction, problems are not foreseen and implementations of future policies are
hampered.
- Budgeting is the principle tool of planning. It defines the objectives of an organization and
provides the management with the plan of operation.
- Budgeting brings about coordination of the factors of production in order to have best utilization
of the existing resources.
- A budget provides management with an effective yard stick to measure efficiency of actual
performance and advising corrective action for any departure from the yardstick set.
marto answered the question on February 26, 2019 at 09:35
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List the ways to improve cash management.
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February 26, 2019
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What are the causes of difference in cost and financial accounts
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Give the problems in cost estimation.
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Give the Limitations of budgeting
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Give the causes of stock discrepancies.
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Give the definition of a cost centre and its application
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February 26, 2019
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Give the causes of labour efficiency variance
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February 26, 2019
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Give the causes of labour rate and efficiency variances
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February 26, 2019
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Give the disadvantages of overstocking:
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February 26, 2019
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Distinguish between the following Incremental costs and Marginal costs,cost centres and object centres,job costing system and process costing system,relevant cost and relevant range,
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February 26, 2019
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Give the assumptions of break-even analysis.
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February 26, 2019
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Give the requirements of an effective stock control system.
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February 26, 2019
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Give the benefits of a standard costing system.
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February 26, 2019
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Give the classification of costs.
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Give the assumption of the economic order quantity (EOQ) model.
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February 26, 2019
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Give the major drawbacks of adopting a fixed budget:
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February 26, 2019
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Limitations of cost-volume-profit analysis in short term business planning
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(i) Define the term value-chain analysis:
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February 26, 2019
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Distinguish between Advanced Manufacturing Technology (AMT) and Material Resources
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Distinguish between Advanced Manufacturing Technology (AMT) and Material Resources
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February 26, 2019
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