What is the major benefit of tying a budget to the overall goals of the compan

Define Control. How are budgets used to control?

Explain what responsibility accounting is and how budgets are used in responsibility accounting. How should the traditional budget system be evolved to promote innovation within the corporation?

1. How is the financial plan and budget related to a company’s strategic plan? 2. How do the various functional departments of an organization use financial planning (i.e. marketing, operations, sales, executive management, finance, etc.)?

Explain the specific roles of planning, motivation, communication, evaluation and control in a system of budgetary control

1.In your own words what is budgeting? 2. What is financial planning and how it is important to the firm?

Organizations rely on effective budgetary planning for successful financial performance. Explain how the roles of managers can assist organizations to achieve their budgetary goals.

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?

Which one of the following is NOT a budgetary benefit? It establishes the organization's goal. It establishes communication between different levels of management. It reveals the organization's effectiveness. It aids in the measurement of production efficiency.

Which of the following is a basic element of effective budgetary control?a. cost behavior patternsb. cost-volume-profit analysisc. standard costingd. all of the above