0
4. "Budgeting is the one of the main tool to control the cost" - Give your view.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Budgeting is an instrument of planning as well as a tool of coordination and control?
ansdquestion
Differences between fixed variable budgets?
Variable budgeting is one based on different levels of activity. It is an extremely useful tool for comparing the actual cost incurred to the cost allowable for the activity level achieved. It is dynamic in nature rather than static. By using the cost-volume formula (or flexible budget formula), a series of budgets can be developed easily for various levels of activity. A static (FIXED) budget is geared for only one level of activity and has problems in cost control. Flexible budgeting distinguishes between fixed and variable costs, thus allowing for a budget that can be automatically adjusted (via changes in variable cost totals) to the particular level of activity actually attained. Thus variances between actual costs and budgeted costs are adjusted for volume ups and downs before differences due to price and quantity factors are computed. The primary use of the flexible budget is for accurate measure of performance by comparing actual costs for a given output with the budgeted costs for the same level of output.
Advantages of cost accounting?
Cost accounting is a wonderful tool for the management to measure how the company resources has been utilized. It is very useful for the end users also.
Why do you need to budget your money?
Budgeting your money is essential for several reasons: Financial Control: Budgeting allows you to take control of your finances. It helps you track your income and expenses, giving you a clear picture of where your money is going. Financial Goals: Budgeting helps you set and achieve financial goals. Whether you're saving for a vacation, buying a home, or building an emergency fund, a budget helps you allocate funds toward these objectives. Debt Management: A budget can help you manage and reduce debt. By identifying areas where you can cut back on spending, you can free up money to pay down debts faster. Avoid Overspending: Without a budget, it's easy to overspend and live beyond your means. A budget acts as a spending plan, helping you stay within your financial limits. Emergency Preparedness: Budgeting ensures that you have funds set aside for emergencies. An emergency fund can provide a financial safety net when unexpected expenses arise. Retirement Planning: Budgeting allows you to allocate money for retirement savings. Saving consistently over time can help you build a nest egg for a comfortable retirement. Peace of Mind: Knowing where your money is going and having a plan in place can reduce financial stress and provide peace of mind. Improved Decision-Making: When you budget, you make informed financial decisions. You can prioritize spending on things that matter most to you and avoid impulsive or unnecessary purchases. Financial Awareness: Budgeting encourages financial awareness and mindfulness. It prompts you to review your financial situation regularly, helping you make adjustments as needed. Better Financial Health: Ultimately, budgeting contributes to better overall financial health. It can lead to increased savings, reduced debt, improved credit scores, and greater financial stability. In summary, budgeting is a valuable tool for managing your finances effectively, achieving your financial goals, and ensuring long-term financial well-being. It provides the structure and discipline needed to make informed financial decisions and maintain financial stability. My suggestion-𝓱𝓽𝓽𝓹𝓼://𝔀𝔀𝔀.𝓭𝓲𝓰𝓲𝓼𝓽𝓸𝓻𝓮24.𝓬𝓸𝓶/𝓻𝓮𝓭𝓲𝓻/372576/𝓡𝓪𝓷𝓿𝓮𝓮𝓻__16/
Ight and then click submit Match the following terms with their definitions A Opportunity cost A decision-making tool that weighs additional costs and benefits of going for one more unit of?
Pony
Budgeting is an instrument of planning as well as a tool of coordination and control?
ansdquestion
What budgeting tools are available for free?
The best free available budgeting tool is the Personal Capital tool. Some other free budgeting tools that are available for free are Buxfer, BudgetPulse, Billster, Mactopia and many more.
What is the purpose of budgeting?
To make sure expenses are below income
Why is capital budget so important?
Capital budgeting is important for it functions as a control tool in an entity's operations. Through it, they would be able to determine whether targets have been met ot not.
What is a good budgeting tool that is free to download?
Ace Money Lite, Microsoft Money Sunset Deluxe, Buddhi, Gnu Cash, PL Cash, Financial Fate and SimpleD Budget are good budgeting tools, which are free to download.
How much does Allied 310-Piece Tool Set cost?
how much does allied 310 piece tool set cost
How much money do fein tools cost?
The cost of Fein Tools depends on the tool. Generally the cost of a Fein power tool will be between $180 and $400. For example, and oscillating tool would be in the higher range where a basic tool kit would be in the lower range.
What is the definition of tool control in school?
bordness
What command tool is widely used and accepted tool for command control and coordination of a response to a disaster?
Incident Command System is a widely used and accepted tool for command, control, and coordination of a disaster response.
Which tool promotes all 4 values for xp projects in agile?
Visual Control tool
How much does tool steel cost?
Ths cost of tool steel is dependent on many factors including the alloy content and the manufacturing cost. Low alloy tool steels can be boought for less than $2.00 per pound. High alloy tool steels and high speed steels are sold for as much as $30.00 per pound. See the related links below for more information about the cost of tool steels
What is the average cost of tool replacement?
1,789,999,324
