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

Q: Managers should be closely involved in preparing their responsibility accounting budget. How true is…

A: Generally, managers should be involved in preparing their responsibility accounting budget.

Q: if an organisation is experiencing budget difficulty, what steps are suggested to improve compliance…

A: Budget is a financial tool used in planning, programming and control of business activity for a…

Q: How does doing budget benefit companies?

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: What is a cash budget, and how is this statementused by a business? How is the cash budget affected…

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Q: Why do companies prepare budgets?

A:

Q: Explained how the company's budgetary control system could be revised to improve its effectiveness.

A: The company is work on the budget to be initially made with a view to follow the pattern…

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: Which of the following is not considered a benefit of the budgeting​ process?   a. Gives managers…

A:

Q: Why is it important that a firm prepares a budget and how they analyze the ongoing performance? What…

A: Budgeting is a financial plan that helps the organization in effective utilization of its resources.…

Q: Discuss the human resources movement view of motivation 2) Discuss the different type of operating…

A: 1.Discuss the human resources movement view of motivation The human relations movement in…

Q: Describe the importance of Budgeting in the Business

A: Budgeting entails planning in order to support an organization's planned goals. Every business must…

Q: Identify and explain the different purposes of budgets for a company

A: Budgets play a vital role in the financial management of a company. They are comprehensive…

Q: What is the impact of responsibility reporting and budgeting on an organization?

A: A manager's performance is evaluated based on matters that are directly under the control of that…

Q: How is the financial plan and budget related to a company’s strategic plan?

A: Strategic plans are long term action plans which direct a firm towards its goals. Financial plan and…

Q: What is the role of the Office of Management and Budget OMB?

A: Office of the Management and the Budget (OMB):   This is the office which is part of the Executive…

Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…

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

Q: How can a company’s board of directors use the budget to influence the future direction of the firm?

A: Definition: Budget: Budget is the process of identifying, collecting, and summarizing financial…

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

A: Companies prepare budgets for various reasons such as controlling costs, evaluating performance, or…

Q: CE Company reported the following information for 2022: Budgeted sales $1225000 $1310000 All sales…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What are some of the challenges in creating a budget for a company.

A: The objective of this question is to understand the various challenges that a company might face…

Q: What are some additional considerations that arise when budgeting in multinational companies?

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

Q: Sales are often considered to be the principal budget factor of an organisation. Explain the meaning…

A: Sales budget presents the expected sales volume and sales value for the coming period.

Q: How are the master budget and the production budget related? How does the understanding of the…

A: The master budget is a comprehensive financial plan that outlines a company's financial goals and…

Q: how budgeting is useful in managing businesses?

A: Budget: The forecast of transactions on the basis of the available resources for a particular period…

Q: What is the reason for preparing a budget in business?

A: A budget is a systematic financial process to decide the future cash flows in advance to achieve the…

Q: How might a company benefit by sharing its own internal budget information with other companies?

A: Budget is the expression of future costs and revenues that business estimates.

Q: hould a firm's cash budget relate back to its accounting profits? Do the two need to remain in sync?

A: Accounting profit is also known as financial profit or the book keeping profit of a company. It…

Q: How does budgeting help management coordinate and plan business activities?

A:

Q: Explain the role and limitations of budgeting in business organizations. Support your answer with…

A: The answer is stated below:

Q: Discuss how are budgets used to help organizations plan for future and how are budgets used for…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: Explain what responsibility accounting is and how budgets are used in responsibility accounting. How…

A: Responsibility accounting: Responsibility accounting includes accounting and forecasting. It assists…

Q: 1. How is the financial plan and budget related to a company’s strategic plan? 2. How do the…

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

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

A: “Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Organizations rely on effective budgetary planning for successful financial performance. Explain how…

A: Budgeting: Budgeting is a process of estimating future income, expenses and cash flow for a future…

Q: Why is the role of a Financial Controller or Project Accountant crucial in large-budget projects?

A: A Financial Controller is a senior financial executive responsible for overseeing and managing an…

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.