What is a static planning budget?

Q: Explain the term budgeted costs.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: what are the first two steps of a master budget? and are there formulas that are used for those…

A: The first two steps of a master budget are as follows: 1) Preparation of sales budget. A sales…

Q: __________________is the cornerstone of the master budget?

A: The  Answer

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 is continuous budgeting?

A: Continuous budgeting refers to when a budget of a month ends, immediately the succeeding month…

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: Define flexible budget.

A:

Q: Why is budgeting process time consuming?

A: Budget -  Budget are a financial plant of the company prepared by the company every year and it will…

Q: What are the benefits of Kaizen budgeting?

A:

Q: The master budget will comprise of what?

A: A MASTER BUDGET IS A SERIES OF SMALLER BUDGETS THAT ARE ROLLED UP INTO ONE LARGER BUDGET TO PROVIDE…

Q: What is the first step in preparing a master budget ?

A: The master budget seems to be the budget that combines all of the other budgets into a single budget…

Q: What is a master budget? Briefly describe its contents.

A:

Q: What are the benefits of making an operating budget?

A: Operating Budget: The operating budget is that budget which is prepared to plan all the operating…

Q: Explain the term flexible budget variance.

A: Flexible Budget: It is a type of budget that changes based on the volume of business activity.…

Q: What are the benefits of a master budget?

A: Master Budget:The master budget is the core budget that describes the full process of budget. This…

Q: What are the characteristics and importance of the budget?

A: In the context of the given question, we are required to explain the characteristics and importance…

Q: What is the main difference between static and flexible budgets?

A: A budget is a tool that helps the entity to  achieve its predetermined objectives through a…

Q: Brief description of flexible budgeting

A: A flexible budget is a budget that perceives the distinction in conduct among fixed and variable…

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 the advantage of using a flexible budget?

A: Budget is prepared at the start of the year so as to estimate the cost of producing any product that…

Q: What are budgets used for?

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

Q: What is a budget?

A:

Q: Define static budget.

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

Q: Define the term sales budget.

A: A sales budget provides an estimate of the volume of goods and services that a company proposes to…

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: Why use a flexible budget?

A: Flexible Budget: A flexible budget is a budget that is prepared for different levels of the output.…

Q: what are the pro and cons for traditional budgeting?

A: Traditional Budgeting Traditional budgeting which provides the budgetary requirement of the business…

Q: What is captial budgeting? Why a separate capital budget is needed?

A: The term capital budgeting comprises of two words, "Capital" means the funds needs for the…

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: Compare how alternative budget time frames can be used.

A: A budget is a quantitative plan for acquisition and use of resources in a business over a specified…

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 is a selling expense budget? What is a capital expenditures budget?

A: A Budget is a Financial Plan made for Future period of time. There are many types of Budgets such as…

Q: What are the different benefits of rolling budget?

A:

Q: What is Zero-based Budget?  What is static and Flexible Budgets?

A:

Q: Explain how to calculate static budget variance.

A: Static budget: Static budget is a master budget that is prepared for only one level of sales…

Q: Distinguish between static and flexible budgets.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: Can you explain what a rolling budget is?

A: Budget:   A budget is a statement of expected revenues and expenditures of the business for a…

Q: Define the term production budget.

A: The creation financial plan figures the quantity of units of items that should be fabricated, and is…