Which one of the following is not considered to be a benefit of participative budgeting? When managers set the final targets for the budget, top management need not be concerned with the overall profitability of current operations. Managers are more motivated to reach the budget goals because they participated in setting them. Individuals at all organizational levels are recognized as being part of the team; this results in greater support of the organization. The budget estimates are prepared by those in direct contact with various activities.

b) ‘Budgeting has a number of different purposes including: Planning; Control; Performance evaluation; Motivation. Some managers believe that zero-based budget is more beneficial than other types of the budget for firms.’ Required: Critically discuss the above statement with reference to academic literature. In your discussion, you should refer to the budgeting systems you learned in this module.

The successful use o a budgeting system Acceptance and support by key management people. A sense of ownership by those assigned to carry out the Correct and reasonably accurate budgets. Inclusion of "budgetary slack" in most budgets.

Budgets need to be fair and attainable for employees to consider the budget important in their normal daily activities. Which of the following situations will likely lead to human behavior problems? a. allowing employees the opportunity to be a part of the budget process b. setting goals too loosely, creating a budgetary slack c. setting goals that are consistent across the firm d. setting goals that are reasonable and attainable

“Budgeting is the same across different organisations and industries, so organisational strategy, industry and the broader goals and objectives of a business are not of much importance in the budgeting process”. Do you agree with this statement? Explain why or why not So far this questioned was answered before with: The statement cannot be agreed, as budget preparations vary from company to company as per the company's goals and strategies. Budgeting is estimated standards set which acts like an yardstick for respective departments (purchase, sales, production etc.) to perform. These budgets serve as a guidelines or target for the department to achieve effective and efficient output. These budgets are prepared analysing the past performance and other factors such as capacity and procedures and policies of the organisation I feel this needs to be explained more - could you please write another 100 words explaining this question please :))

1. Many companies face budgetary challenges on a continual basis. Two critical aspects that businesses lack when budgeting is effective controlling practices and monitoring. 2. Budgeting is essential to businesses, but it is not that simple to implement: What are some challenges and weaknesses that a firm may find in the budgeting process? What are some examples of effective monitoring and control practices, and how do they help address budgetary challenges? Discuss the role of the budgeting committee and its responsibilities.

Control is the process that includes the following except: A) Provides managers a means to assess results B) Provides managers the means to prepare a budget C) Provides feedback and acts as a learning tool for future decisions D) Enables monitoring by managers

True or False   1. Budgets should not be used to motivate and reward employees.   2. Budgets play an important communication role within organizations. They provide a mechanism for managers to share expectations and priorities for the future.   3. Budgets also provide useful benchmarks for evaluating and rewarding employee performance.

When a company develops and implements a master budget, there is a tendency to incentivize adherence to the goal with bonuses or by tying the employee compensation plans to the achievement of the budget goals. What are some opportunities and risks of these financial incentive programs?

[1] The major objectives of any budget system are to A. Foster the planning of operations, provide a framework for performance evaluation, and promote communication and coordination among organization segments. B. Define responsibility centers, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates. C. Define responsibility centers, provide a framework for performance evaluation, and promote communication and coordination among organization segments. D. Foster the planning of operations, facilitate the fixing of blame for missed budget predictions, and ensure goal congruence between superiors and subordinates.