Businesses rely on performance budgets to determine the best time to make bold, strategic moves. By constantly monitoring and reducing expenses, firms increase cash in corporate vaults and may use excess funds to expand their businesses. For smaller companies, this is particularly interesting, as they may save enough money to grow market share and whittle away at bigger players' domination. To put it in sports terms, smaller players that save enough money stay on the bench waiting for a chance to become stars. Improved productivity is another advantage of performance budgets. These blueprints indicate to manufacturing supervisors where to look for inefficiencies and how to gradually, intelligently remedy production problems. Improved factory processes generally translate into better working conditions for production personnel, which, in turn, foster long-term productivity.
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The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
it is an evaluation process. it compares the actual performance of the business against the projected performance of the business.
Regular monitoring against the agreed budget, compliant to the spending and income streams and reviews of under performance
Monitoring income statements is a way that people can monitor variance between actual performance and budget. Managers can be assigned to look over income statements for clients.
The budget of Veterans Benefits Administration is 58,400,000,000 dollars.
(cost of benefits) / total budget x 100
The Production Budget for Meet the Fockers was $60,000,000.
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A budget "variance" is the difference between planned and actual performance.
A budget "variance" is the difference between planned and actual performance.
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
it is an evaluation process. it compares the actual performance of the business against the projected performance of the business.
it is an evaluation process. it compares the actual performance of the business against the projected performance of the business.
Regular monitoring against the agreed budget, compliant to the spending and income streams and reviews of under performance
flexible budget and actual results