The main advantage of budgeting is that it will help you get a clear view over your finances. You will also be able to save money. However, budgeting can also bring a lot of extra stress and work.
cost accounting advantage & disadvantage
The advantage of the level production schedule in firms with cyclical sales is resources and labor are spread evenly. The disadvantage of the level production schedule is that it is a costly exercise.
Distortion is caused by cash budgets. Influence of non-financial factors will also affect the final decisions when it comes to cash budgets. Cash budgets are vulnerable to manipulations. The major disadvantage is that cash budget relies on estimates.
Advantages: Easy to use Matches Cost to revenues (Matching Concept) Disadvantages: Depreciation can not be charged when the Asset is not in use.
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.
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Advantage and disadvantage are complete opposites. An advantage is something which is beneficial to an individual. A disadvantage would be not to ones benefit.
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