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What is Expense Budgeting Why we have to prepare Expense Budgeting?
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∙ 14y ago
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∙ 14y ago
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What the difference between short-term intermediate and long-term budgeting goals?
Short term... budgeting from one pay-day to the next. Medium term... budgeting for a larger expense (such as a holiday) Long term... budgeting for a very big expense (ie a car or house)
Is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
Why is budgeting important?
Budgeting is an important planning and forecasting process for a given period. It is the itemized summary of income and expense.
Show me How do you prepare an income statement?
fees earned-950,000 office expense -222,000 miscellaneous expense-16,000 wage expense-478,000
What are limitations of MIS?
- The expense to create and implement an MIS. - Training time for employees - Lack of flexibility - Capturing wrong or incomplete information - Budgeting of Budgeting extremely difficult - Highly sensitive and requires constant monitoring
What are the Weaknesses in capital budgeting?
1. poor alignment between strategy and capital budgeting 2.deficiencies in analytical techniques 3.no linkage between compensation and financial measure 4.reverse financial engineering 5.weak integration between capital budgeting and expense budgeting 6.inadequate post-audit. answers given by Shailesh sharma.
Why should people try to budget their capital?
It is important that a person budget their income and their spending in order to keep from getting into debt. By budgeting, a person can save for emergencies and/or an unexpected expense. Budgeting will also allow for saving for a comfortable retirement.
What are the types of costs considered in Capital Budgeting?
For tax purposes capital budgeting is not an ordinary and necessary business expense like rent or utilities. A capital expense is something that is going to last for a period of time and has residual value. A good example of residual value is an office building or furnishings for said office building. Capital items go on your balance sheet and not on your profit loss statement.
Reasons to Figure out an Electricity Bill Average?
When budgeting, it is crucial for a person to know each and every expense that one has in a given month. By knowing each expense inside and out, a person is able to better prepare to handle his or her finances for the month. For example, if a person knows what his or her electricity bill average is, then he or she will likely not spend money that needs to go toward paying off that bill. In addition, a person will be more conscious about spending even on necessary items, such as groceries. Figuring out an electricity bill average is important.
What does the process of budgeting encompass?
what does the process of budgeting encompass? what does the process of budgeting encompass?
How do you prepare journal entries to record income tax expense and the effects of net operating loss carrybacks?
no one knows
What is rational budgeting?
budgeting that's rational
