FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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budget performance is abetter critical than past performance for judging managers" do you agree ?explain
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- Why does a company's budget need to be closely linked to the needs of good strategy execution? Why might a change in strategy call for budget reallocations?arrow_forwardWhich of the following is not a benefit of participative budgeting? Multiple Choice It serves as training or development for managers. It provides information that employees know but managers do not. It reduces or eliminates the need for tracking actual cost activity. It enhances employee motivation and acceptance of goals.arrow_forwardWhich of the following is not a benefit of budgeting? It allows for coordination between different departments within a firm. It compels managers to develop objectives and to plan allocating resources to achieve the objective. It provides performance evaluation and feedback. It reduces the need for analysis with regard to company expenses.arrow_forward
- compare and contrast budgeting in the industrial age versus the information age?arrow_forwardIs participative budget more favorable than impose budget? Justify your answerarrow_forwardManagement Accounting Question (Qualitative Short Answer) a. Why is the sales forecast the starting point in budgeting? b. What is a perpetual budget? c. Which is a better basis for evaluating actual results: budgeted performance or past performance? Why? d. The materials price variance can be computed at what two different points in time? Which point is better and why? e. What effect, if any, would you expect purchasing poor-quality materials to have on direct labor variances? f. Distinguish between ideal and practical standards. g. Costs associated with the quality of conformance can be broken down into four broad groups. What are these four groups and how do they differ? h. What is likely the most effective way to reduce a company's total quality costs? i. What are the three main uses of quality cost reports?arrow_forward
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