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1.Budget helps to know the future results,
2.budgetary control technique helps to compare the estimated results with actual results.
3.budgeting focuses on standards or objectives.
4.budget helps subordinates to to compare their performance with budgetary standards and can do self appraisal.
5.through budgeting managers can allocate resources to departments according to their budgetary allocation.
6.budget help to improve coordination between various departments.
7.budgetary control helps to use the principle of management by exception by giving more attention to departments where actual operations and target deviate from budgetary standards.
What else can I help you with?
How is the flexible budget report information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
How is the flexible budget information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
What information does a report used to monitor a budget typically include?
A report used to monitor a budget typically includes key elements such as the budgeted amounts, actual expenditures, and variances between the two. It often breaks down spending by categories or departments to highlight areas of overspending or savings. Additionally, the report may include forecasts and trends to help assess future financial performance and inform decision-making. Overall, it serves as a tool for tracking financial health and ensuring adherence to budgetary constraints.
Production budget are used to prepare which budget?
production budgets are used to prepare which of the following budgets
Which type of application would you use if you want to create a budget?
ther is no need in an application. Just think. What do you need and what do you want. How much are you willing to spend? What is your wiggle room?(going a little over boad for something you want? Do rearch. What is the average price for the things you are looking for? --- If you really want to create a tangible budget application use a spreadsheet and set it so that you have a forecast budget and actual budget used - then you can report of the differential
How is the flexible budget report information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
What was the Production Budget for Minority Report?
The Production Budget for Minority Report was $102,000,000.
What was the Production Budget for Observe and Report?
The Production Budget for Observe and Report was $18,000,000.
How do you develop budget report?
how to develop budget
How is the flexible budget information used to evaluate performance?
The flexible budget report can be used to evaluate performance in two areas: production control and cost control.
What is the purpose of the sales budget report?
The purpose of the sales budget report is to ascertain what the year's budget status would have on the next year's anticipated budget. In order to anticipate what the next year's sales might be, one needs to find out what the last year's sales were.The purpose of the sales budget report is to help plan for the future. The budget can be used to control expenditure and increase revenue for the next financial year.
What information is found on a flexible budget report?
Flexible budget reports are another type of internal report. The flexible budget report consists of two sections: (1) production data for a selected activity index, such as direct labor hours, and (2) cost data for variable and fixed costs. The report provides a basis for evaluating a manager's performance in two areas: production control and cost control. Flexible budget reports are widely used in production and service departments.
What is the difference between a budget and a financial report?
The main difference is, budget is a planned activity to meet the targets whereas financial report is the one which shows the health/wealth of the organization.
How to prepare Report to elaborate budget preparation and document resource requirement?
how to prepare budget praparation and documents requirements
What is a formal written statement of management's plans for the future?
budget report
Does the OMB report to the president?
Yes-- The Office of Management and Budget reports to the President.
What office analyzes the federal budget to report to the appropriations committee?
c. CBO
