Budgets are useful vehicles for communication.  Critically discuss the above statement and provide some relevant examples to support your  answer.

Q: briefly discuss the budgeting process

A: Budget: Budget is a statement prepared by the management for a specific tenure, to accomplish the…

Q: Explain the different purposes that a budget can have

A: Introduction:- Budgeting used to estimation of income and expenditure over a specified period of…

Q: Which of the following is part of the budget preparation process EXCEPT? a) Available resources b)…

A: Budget can be termed as estimation of Revenue and Expenses that can happen in a future. In a simple…

Q: Discuss some of the major benefits to be gained from budgeting.

A: Budget:   A budget is a statement of estimated revenues and expenditures for a specific period of…

Q: Describe the benefits of preparing a budget to an organization

A: Budget means what is required to be done compair it actual to what is actually happned in other…

Q: Which provides the most benefit to an organization, a budget or the budgeting process? Why?

A: Budget: A budget is a systematic allocation of resources to different departments depending on the…

Q: Budgets, Fixed Budgets and Flexible Budgets

A: Fixed Budgeting:The leased Institute of Management Accountants (UK) defines a hard and fast budget…

Q: Discuss the importance of the cash budget.

A: Cash budget is a summary of cash inflows and cash outflows of a company during a particular period…

Q: Understand whyorganizations budget and theprocesses they use to createbudgets.

A: Budget:   It is a statement of estimated revenues and expenditures of an organization for a specific…

Q: What is the process of making decisions about financing and funding aspects? Group of answer choices…

A: Financing and funding aspects involve the act of obtaining money for the purchase or enterprise and…

Q: In fiscal management of an LRTC: Why should we justify the budget? How can we develop cost-effective…

A: As per our protocol we provide solution to the one question only but as you have asked multiple…

Q: Explain the differences between participation and non-participation as styles of budgeting and…

A: Budgeting is a crucial aspect of financial management, aiding organizations in planning,…

Q: Discuss why budgets are so important for all organizations. Describe some advantages and…

A: Budgets are an indispensable part of business organizations because they assist business…

Q: Select each of the terms with the best description of its purpose. 1. Helps determine financing…

A: Cash budget: This budget helps determine financing needs by forecasting cash inflows and outflows…

Q: Write on financial modeling tools  for budgeting

A: Budgeting is referred to as the process of the creation of the plan regarding the spending of the…

Q: Explain what you understand by Budgets, Fixed budgets and Flexible budgets in the context of control…

A: Organizations produce budgets for a variety of purposes, including cost control, performance…

Q: Budgeting serves various purposes including planning, control, motivation and communication. You…

A: Budgeting is an essential tool utilized by businesses of all sizes and in all industries. It is a…

Q: xplain the steps in developing a cash budget.

A: Set the time period for which you wanted to prepare a cash budget Opening Balance of the cash…

Q: state the importance of transparency and validity in relation to financial plan/budget.

A: Answer:-  Financial budget:- Predicting the company's income and expenses over the long and short…

Q: Understand commonerrors made in preparingp erformance reports based on budgets and actual results.

A: Budget:   A budget is a statement of estimated revenues and expenditures for a specific period of…

Q: c. The GIFMIS interfaces with a number of systems and sub-systems. A number of these systems and…

A: The abbreviation of GIFMIS is Government Integrated Financial Management Information System. It is…

Q: Briefly tell how Program Based Budgeting (PBB) interface with the GIFMIS?

A: SOLUTION- Program-Based Budgeting is a budgeting tool where all budgetary information is organized…

Q: how can I apply MIS ( management information system ) successfully in this topic: A PERSONAL…

A: Management accounting is the act of distinguishing, estimating, investigating, deciphering, and…

Q: explain the advantages and limitations of budgetary control in detail

A: Budgetary control is the process of preparing budgets for the future time and comparing them to…

Q: Explain the difference between strategic and operational budgets.

A: Strategic budget: A strategic budget is a long-term financial plan. It achieves the long-term goals…

Q: indicate yes if it describes a potential benefit of budgeting orno if it describes a potential…

A:

Q: (CMA adapted) The process of creating a financial plan of the revenues and resources needed to carry…

A: The correct answer is budgeting.Explanation:Budgeting: Budgeting is the process of creating a…

Q: A SMART goal is specific, making, actionable, relative, timely. significant, making, actionable,…

A: since you have asked multiple, we will solve the first question for you if you want any specific…

Q: what is contemporary organization and would you recommend budgeting for contemporary organisations…

A: Contemporary organization It is a type of organizational structure that is fluid and it is easy to…