Who are the participants in the budgetingprocess, and how do they participate?

Q: briefly discuss the budgeting process

A: Budget: Budget is a statement prepared by the management for a specific tenure, to accomplish the…

Q: Describe the benefits of preparing a budget to an organization

A: Budget means what is required to be done compair it actual to what is actually happned in other…

Q: Define the term budgeting cycle.

A: Budget Cycle: The budget cycle refers to the whole time period starting from the creation of the…

Q: what is the source document for realignment of budget transaction for budgetary accounts?

A: The budget means the estimate of all-expense where the amount is spent. It is an estimate that the…

Q: What motivates PFG to install a budgeting and planning system?

A: Planning and Budgeting is an analytical application that helps to set top-down targets and generate…

Q: What are the advantages and disadvantages of the participatory approach to budgeting?

A: Participative budgeting is a budgeting process in which the people who are in the lower levels of…

Q: What is a budgeting cycle? Explain?

A:

Q: of the budget in making management decisions?

A: Budget is defined as an estimate of revenue income and expenses for a set period of time. Budget is…

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 “replacement chain”? When and how should replacement chains be used incapital budgeting?

A: The method which can be used to choose best among the more than two mutually exclusive capital…

Q: what are Detail the steps in the budget process.

A: A budget is a tool for organizing, carrying out, and managing operations of a company to make the…

Q: What

A: Budgets act as an instrument of coordination.

Q: What are the benefits of tying a budget to the overall goals of the company?

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

Q: What are the ethical provisions that needs to be followed in budgeting?

A: The process of allocating a company's financial resources is known as budgeting. Although necessity…

Q: What are the risks and benefits of both internal and external budget preparation?

A: Budgeting is a process in which selected organizations and individuals are assigned certain…

Q: What are the three main types of financial budgets and what is the purpose of each

A: Budget represents the report of forecasting the financial expenditure and income for the future…

Q: In which section of the CAFR are the budget-to-actual comparisons of the major funds located? What…

A: The question is related to Comprehensive Annual Financial Report (CAFR). There are three sections of…

Q: Describe the budgeting and planning process.

A: Budgeting process: The process of streamlining the future expenditure process by predicting or…

Q: How does a budget benefit management in its control function?

A:

Q: Explain budgetary reporting requirements.

A:

Q: The budgeted balance sheet is part of which element of the master budget?

A: The Answer

Q: Which one of the following is an operating budget? a.cash budget b.sales budget c.budgeted…

A: Solutions- operating budgets are sales, production or manufacturing, labor, overhead, and…

Q: How is the operating budget of the master  budget used by management?

A: the master budget consists of all types of budget. operating budget is one of the budgets in the…

Q: budgeted balance sheet sales budget production budget budgeted…

A: Budgeted balance sheet Explanation ; A financial budget has 3 elements            1. cash budget…

Q: how budget process fits into management’s planning process?

A: Planning as well as budgeting are critical components of managerial control. Efficient planning and…

Q: Discuss the importance of predictions and assumptions in the budgeting process.

A:

Q: balance criteria in budgeting?

A: while making balance criteria in budgeting i always follow these steps; Establish your budgetBefore…

Q: Which stakeholders might be more interested in the budget rather than the financial statements? Why?

A: Stakeholders of the organization are the people having some kind of interest vested in the…

Q: Why is it important to follow ethical provisions in making budgeting model?

A: Ethics implies the arrangement of rules that the association ought to follow. While in business,…

Q: Based on the above information what is the budgeted

A: Fixed cost is the cost that remains the same at every level of activity. The company can produce any…

Q: How does activity-based budgeting explain the logic of budgeting?

A: Activity based budgeting: It is a budgeting system where budgets are prepared based on the expected…

Q: Explain the specific roles of planning, motivation, communication, evaluation and control in a…

A: Budgetary control is an exercise undertaken by the organization/entity to ensure that the period…

Q: Why should each department participate in preparing its own budget?

A: In Accounting, Budget refers to a statement prepared on the basis of future plans and goals for a…

Q: How are standards and variances used in budgeting and budget analysis?

A: Variance refers to the difference between the standard values to the actual values for both revenue…

Q: What are the budgeted financial statements? How do they differ from regular financial statements?

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: Define the term financial budget.

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: Activity-based budgeting is a budget system based on expected activities. Describe activity-based…

A: Activity Based Budgeting is a system of budgeting that records , researches , analyzes and interpret…

Q: What is the relationship between the master budget and responsibility accounting?

A: Definition of budget: According to CIMA Budget means " Quantitative expression of a plan for a…

Q: res of a budget

A: There should be a proper fixation of authority and responsibility. The delegation of authority…

Q: Why is planning, supervising, and reviewing the budget important in budgeting model

A: Answer : Planning ,supervising and reviewing the budget is very important in budgeting model The…

Q: a.Identify the budget preparation approach used

A: An Estimate is the process of calculation or judgement of the value, number, quantity.It is a kind…