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What is the purpose of budgeting?
To make sure expenses are below income
What best explains how budgeting helps consumers reach their financial goals?
Budgets allow consumers to control how much money they have going out for expenses.
What does the word budgeting mean?
Budgeting means making a financial plan about how much money to spend on specific items. You might say for example, I am budgeting a thousand dollars for snacks.
What are the advantages and disadvantages of incremental budgeting?
Some of the advantages of incremental budgeting are that this type of budgeting is easy and quick. Some disadvantages of incremental budgeting are that different methods for achieving the objective may not be considered and if the budget is not fully spent it can be reduced during the next period.
What is the advantage of budgeting in abusiness organization?
The budgeting process and the end product, the budget, comprise two essential elements of multinational management: planning and control. Planning is the primary function of the budgeting process and the result, the budget, provides the basis for subsequent monitoring and control of activities. For a multinational firm, with geographically dispersed subsidiaries to coordinate and control, an ineffective planning and control system can be disastrous. For the typical multinational firm, the budgeting process is the primary period of planning at both corporate and subsidiary levels. During the planning phase, the subsidiaries establish short-term goals and objectives, devise appropriate operating strategies, and prepare a budget document for subsequent monitoring, control, and evaluation of operations. Although the budgeting process is an important element of success, very little is known about the methods which multinational firms employ to ensure that the subsidiaries present a realistic and reasonable projection of future events. Although there is extensive information about budgeting in the management accounting literature, there is very little information about the specific techniques employed by the managers of multinational firms to develop and formulate budgets. Budgeting is essential to successful management. It involves five aspects: Planning occurs when the company determines the priorities and objectives. Within this stage of budgeting a company needs to decide the direction to use the company's resources that will produce optimal success for the future. Planning is also when a company can evaluate and identify any issues from prior budgets and moreover establish future plans for development within the company to grow. I believe the planning stage is extremely effective within a budget. This stage is the most critical stage for a company. If a companies do not plan accordingly than unforeseen changes can wipe a company out
What is the advantage of feedforward control?
One major advantage of feedforward controls is that it prevents large disturbances in your output
What are types of control in business organization?
· Feedback control · Concurrent control · Feedforward control
Which kind of control takes place after the actual work has been carried out?
Feedforward.
What is the Advantage and disadvantage of feedforward control?
One major advantage of feedforward controls is that it prevents large disturbances in your output. A disadvantage is that it may not account for all potential disturbances in the input, leading to large disturbances in the output.
Budgeting is the one of the main tool to control the cost?
4. "Budgeting is the one of the main tool to control the cost" - Give your view.
Feedforward feedback control?
Feedforward is a preparatory control. EX. Smelling food leads to salivation and production of stomach acid in preparation of food. OR Starting to exercise increases heart rate and breathing rate in preparation of running low on oxygen for muscles. Feedback is a control mechanism where the product of the end mechanism either enhances or inhibits the start of the mechanism Positive feedback enhances Negative feedback inhibits
Principle of critical-point control?
In Control function of Management,Critical control point (CCP) is a point, step or procedure at which controls can be applied to the system (feedback or feedforward) and a disturbance can be prevented, eliminated or reduced to acceptable (critical) levels.
Budgeting is an instrument of planning as well as a tool of coordination and control?
ansdquestion
Write a program in FORTRAN C language to compute control ratios used in budgeting with reference to any organization?
if u give control ratios used in budgeting i can write program in C/C++
What has the author Michael J Doherty written?
Michael J. Doherty has written: 'Input shaping to reduce solar array structural vibrations' -- subject(s): Vibration damping, Feedforward control, Pointing control systems, Shape control, Structural vibration
Is feedforward control also known as preliminary control?
Sometimes feedback controls are called preliminary controls, they are accomplished before a work activity begins. They make sure that proper directions are set and that the right resources are available to accomplish them
Why do you prefer feedforward control?
Feedforward is anticipatory in nature. It is your body preparing for something before it occurs. The classic example is smelling something delicious. Even though you haven't eaten anything yet, your mouth begins to salivate, excreting digestive enzymes, and your stomach begins to produce acid. This way your body doesn't have to quickly react. Another example is exercise. Your heart rate and breathing rate increase long before your muscles begin to run low on oxygen. You can almost think of feedforward as a type of preventative measure.
