0
What else can I help you with?
Why is the budget review process necessary?
The budget review process is necessary as it scrutinizes a particular budget. This is aimed at ensuring that the budget is correct and it represents the needs of an organization in the best way possible.
Why the identification of principal budget factor is the important part in budget preparation process?
Identifying the principal budget factor is crucial in the budget preparation process because it helps to pinpoint the primary variable that drives costs and revenues, ensuring that the budget aligns with the organization's strategic goals. This focus enables more accurate forecasting and resource allocation, allowing for better decision-making and financial control. Additionally, understanding the key factor aids in anticipating potential challenges and opportunities, facilitating proactive management throughout the budget period. Ultimately, it enhances the overall effectiveness and efficiency of the budgeting process.
What is the Advantages of fixed budgets?
fixed budget is the budget whose all estimation is not changed after making this type of budget for more knowledge of budget == == == == == ==
What is a functional budget?
a budget of income and/or expenditure applicable to a particular function. A function may refer to a department or a process. Functional budgets frequently include the following: production cost budget (based on a forecast of production and plant utilization); marketing cost budget; sales budget; personnel budget; purchasing budget; and research and development budget.A functional budget is the budget that is achievable and is related to a specific unit or process or function or department of the organisation. It is a group of related activities aimed at accomplishing a major service or program for which a unit of government is responsible.A functional budget is prepare for a process of function.
The starting point in the budgeting process is the preparation of what?
cash budget
What characterizes the budget-making process?
Incrementalism
What characterizes the budget making process?
Incrementalism
Is Budget making is primarily a planning process whereas its administration is a part of controlling?
The administration controls the allocation of resources for a particular company. The making of the budget is the primary planning process by which this allocation of resources is decided.
How do you critically access the budget process in Nigeria and highlight its implication for National development?
To access (meaning get into) a budget process one has to be a politician or civil servant tasked with the job of making a budget for the country.
What is hegemony on a shoestring?
Rule over a place on a small budget. Characterizes colonization in Africa by Europeans.
What process characterizes a sexual reproduction?
Fertilization
What process characterizes sexual reproductive?
Meiosis is sexual reproduction.
Who represent the president in the budget making process?
In the budget-making process, the president is typically represented by the Office of Management and Budget (OMB). The OMB helps formulate the president's budget proposal, coordinating inputs from various federal agencies and ensuring alignment with the administration's priorities. Additionally, the Secretary of the Treasury may also play a significant role in budget discussions, especially regarding fiscal policy and revenue projections.
Where does the budget making process begin?
The stages in a budgeting process normally start with a communication from the centre as to what the budget policy is for the year with guidelines and briefing notes. You then identify the limiting factor that will restrict performance, and in most companies that is the level of demand. So the first element that you tend to prepare in a budget is the sales budget.
What phase of the budget process produces the President's budget?
Budget
What does a budget process entail?
what does the budget entails
What impact does the tax code have on the budget making process?
Changes in the tax code can change the amount of revenue the government takes in.
