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Why is budgeting has been criticised that it concentrates unduly on short term financial control?
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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.
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/
Budgeting is an instrument of planning as well as a tool of coordination and control?
ansdquestion
What is the difference between strategic control and financial control?
Define staregic control and financial control
Identifying the key advantages and disadvantages of a performance budgeting system a program budgeting system and a line-item budgeting system.?
system features focus on advantages disadvantages (LIBS) -centered on objectives/nature of expenditure or purchased item/service (1920~30s) -control financial affairs -responsibility for accounting -clear responsibility on accounting -easier control on financing -rigidity -unclear performance/objective of expenditure performance budgeting system (PBS) -classifying business based on functions of business activities -detail business budget=item price*work hour -Truman(1950) -business centered -management centered -clear business goal -flexibility -unclear responsibility on accounting plan programming budgeting system(PPBS) -planning+budgeting -rational allocation of resources -Johnson(1965) planning centered "planningprogrammingbudgeting" -planning+budget -rational allocation of resources -remove barriers between organizations centralization of budget composition -difficulties on conversion work -top-down budget composition
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.
Which best explains how budgeting helps consumers reach their financial goals?
Budgets allow consumers to control how much money they have going out for expenses.
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.
What are the advantages and disadvantages of a budget?
Budgets can help you control spending and to gain a clear picture of your financial status. However, budgeting can take a lot of time, and errors can occur.
Why manager reluctant to participate in budgeting?
Some managers are reluctant to participate in budgeting because they do not like to discuss financial matters. They may also feel like developing a budget stops flexibility in an organization. Some want to control all the money without any restraints.
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/
What are some of the skills taught by Financial Peace University?
"Financial Peace University teaches skills such as taking control of your money via careful budgeting, record-keeping, saving-tips, couponing, etc. It is a highly valuable program as its effects are lifelong and far-reaching."
What is financial fitness?
Financial fitness refers to having a strong and healthy financial situation. It involves managing money effectively, budgeting, saving and investing wisely, and reducing debt. Being financially fit means having control over one's finances and being on track towards achieving financial goals.
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 is the difference between strategic control and financial control?
Define staregic control and financial control
How is financial management applicable in the garment industry?
Financial management is essential in the garment industry to ensure proper budgeting, cash flow management, inventory control, and cost control. It helps in monitoring expenses, setting prices, and making strategic decisions to improve profitability and sustainability of the business. Additionally, financial management helps in securing funding and investments for expansion and growth.
