Identify FIVE (5) disadvantages of Budgeting and discuss THREE (3) distinct advantages of budgeting to prove that the benefits of Budgeting to an organization far outweighs the costs.
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Identify FIVE (5) disadvantages of Budgeting and discuss THREE (3) distinct advantages of budgeting to prove that the benefits of Budgeting to an organization far outweighs the costs.
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- Briefly explain to your management team, four (4) benefits that can be derived from budgeting.2 Which of the following items does not follow from the adoption of a budget? a. Deterrent to waste b. Basis for performance evaluation c Guarantee of accomplishing the profit objective d. Promote efficiencyOUTLINE 2 ADVANTAGES THAT CAN BE DERIVED FROM PROPER BUDGETING PRACTICES WITHIN THE ORGANIZATION
- What are the three major objectives of budgeting? Briefly describe the type of human behavior problems that might arise if budget goals are set too tightly.Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgetingDiscuss any three advantages of budgeting? The subject is Managerial Accounting.
- Which of the following is NOT true of the budgeting process? Question 8 options: Budgeting provides feedback to management to aid in assessing how well it's reaching its goals. Budgets force managers to plan for the future. Budgets force managers to consider relations among operations across the entire value chain. The performance report is prepared as part of the master budget.5. When developing a budget, an EXTERNAL factor to consider in the planning process is - Group of answer choices - the activities of competitors - development of new product - implementation of employee's retirement planDiscuss three assumptions of cost-volume-profit analysis. Discuss reasons why companies would establish a formal budgeting process for their businesses.
- 1-Describe life-cycle budgeting and life-cycle costing and when companies should use these techniques. 2- Describe three alternatives of cost-plus pricing methods?Discuss why budgets are so important for all organizations. Describe some advantages and disadvantages to budgeting.Practice 3 : a) Explain the importance of incentive systems for motivating performance. b) Identify and explain the components of management compensation and the tradeoffs that compensation designers make. c) What is meant by the term flexible budget? What role do flexible budgets play in evaluating performance?