Can you explain what a rolling budget is?

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: better system for performance analysis?

A: A flexible budgeting system is a type of budgeting which is based on various sales volumes and it…

Q: What is the main advantage of an object classification budget? What are its limitations? How do…

A: Answer: Object classification budget is the budget which is traditional system of budget and it is…

Q: a standard

A: A budget usually refers to a department's or a company's projected revenue, costs, or expenses. A…

Q: What is the difference between a static budget and a flexible budget?

A: The question has covered the concept of Static Budget and Flexible Budget. That is discussed below,…

Q: What are some limitations of the budgeting process?

A: Budgeting is an important exercise that is performed in most of the organizations. Budgeting has lot…

Q: What is a self-imposed budget?

A: Budget:   It is a statement of estimated revenue and expenditure for a specific period.

Q: How does a continuous budget work? Is a rolling budget the same thing?

A: A budget is used to forecast a company's financial results and financial status for the future. It's…

Q: What are the benefits of Kaizen budgeting?

A:

Q: What is a flexible budget? Explain? Give example?

A: Budgeting is a process to prepare the financial statement by the manager to estimate the…

Q: Explain the difference between static and flexible budgets.

A: Flexible Budgets: Flexible budgets are prepared for various levels of activities or outputs. This…

Q: What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

Q: How do flexible budgets differ from static budgets?

A: Flexible Budgets: Flexible budgets are prepared for various levels of activities or outputs. This…

Q: What are the three major objectives of budgeting? Under what circumstances would a static budget…

A: Budgeting is a planning measure by which Business Entity make plan for the expected revenues and…

Q: budget flexed? Give an Example.

A: Flexing of budget is a method used to prepare estimates of the future level of revenues and…

Q: What is a flexible budget and how does it differ from a static planning budget?

A: A flexible budget is a budget which can be adjusted to changes in volume or activity on which budget…

Q: What is a static budget performance report?

A: Static Budget Performance report: The Static Budget Performance report reports the variances.…

Q: How would I set up a master budget?

A: Master Budget is a combination of various levels functional budgets. It is a central planning…

Q: what is the difference between bottom up and beyond budgetin

A: Budgeting is the process of determining the expected costs and revenues for a particular period by…

Q: Describe how nonoutput-based cost drivers can be incorporated into budgeting.

A: Budget: The budgeting is a process of preparing budgets and the evaluation of it to see whether the…

Q: Define the term flexible budget.

A: Flexible Budgets:   Flexible budgets are prepared for various levels of activities or outputs. This…

Q: What is a static budget? Explain? Give example?

A:

Q: Distinguish between a columnar and a formula flexible budget.

A: Definition: Flexible budget: A flexible budget is a budget that is prepared for different levels of…

Q: What is a static planning budget?

A: Budget:   It is a statement of revenues and expenditures to be incurred by the company for a…

Q: What are budgets used for?

A: Management accounting is one of the branches of accounting. Unlike financial accounting, the…

Q: Compare and contrast a flexible budget and a static budget

A: Budgeting is one of the essential tool that helps to plan an organisation to plan its costs…

Q: Define static budget.

A: Budget is a estimation of revenue and expenses for a future period of time

Q: What is a fixed budget

A: Budget: A budget is a forecast of revenue and expenses for a specific future period of time that is…

Q: How is a flexible budget used?

A:

Q: What are the components of budgeting model and why is it important?

A: Budgeting The purpose of preparing the budget to evaluate the performance of the business for a…

Q: Define rolling budget. Give an example.

A:

Q: Explain the relationship between a simple budget and a flexible budget.

A: Budgeting Budgeting is an important tool which are used for the management of the entity to evaluate…

Q: What is the benefit of continuous budgeting?

A: Budget: It is an estimated financial plan for future time period. It is used by management as an…

Q: what are the differences between top down and beyond budgeting?

A: Budgeting is the process of estimating the income and expenditure to control the actual income and…

Q: What is the difference among a master budget, pro forma budgets, and a flexible budget?

A: A budget is a financial plan that is prepared by all organizations for a particular period. The…

Q: What is true of budgets?

A: Budget:  Budget is an estimation of revenue and expenses over a specific period of time. It's a…

Q: What are the different benefits of rolling budget?

A:

Q: What is the key difference between a static budget and a flexible budget?

A:

Q: Is the budgeted price used for the static budget or the flexible budget?

A: Budget: A budget is an estimation to determine the income that will be earned and expenses that will…

Q: What is a flexible budget performance report?

A:

Master Budget

A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making. 

Sales Budget and Selling

A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.