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Identify and describe the major differences between budgeting and long-range planning?
A budget is management's written plan for the future, stated in financial terms. While a budget may cover any length of time, the typical budget period is one year, with supplemental budgets as desired by the organization. A budget should not be confused with a long-range plan, which typically covers at least 5 years. In addition to the difference in time period involved, budgets and long-range plans also differ in their emphasis and the amount of detail presented. Budgets are more detailed and focus on achieving short-term goals. In contrast, long-range plans are considerably less detailed and focus on long-term goals and the strategies to achieve those goals.
Budgets represent the primary means of communicating goals throughout the company. They also provide several distinct benefits to an organization. They require management to plan ahead and state specific goals. Budgets alert management to potential problems before they escalate to extreme levels. They can also motivate personnel by providing the objectives for performance evaluation. However, there are some disadvantages as well. Managers may perceive the budget to be unfair, particularly, if they are not included in the budgeting process. In addition, unrealistic budgets may lead employees to conduct themselves unethically in order to meet the objectives.
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How will you describe comparative banking system?
A comparative banking system analyzes and contrasts the structures, functions, and regulations of banking systems across different countries or regions. It highlights variations in aspects such as the role of central banks, the degree of government involvement, regulatory frameworks, and the level of financial inclusion. By examining these differences, one can identify best practices, challenges, and the impacts of economic policies on banking performance and stability. Ultimately, this analysis aids in understanding how diverse banking systems adapt to local economic environments and consumer needs.
What is management and describe its functions?
Management is getting things done through and with others. It is planning,organising,staffing,directing and controlling of human and other resources of an organization so that both short-term and long-term objectives of a company can be achieved with economy,efficiency and effectiveness. It`s functions are- 1.Planning 2.organising 3.staffing 4.directing 5.budgeting, 6.reporting 7.controlling
Collect a sample of a Promissory Note and describe its features Also describe its usage and the involvement of the parties concerned?
sample of a Promissory Note and describe its features. Also describe its usage and the involvement of the parties concerned
How to answer describe my financial management experience?
When describing your financial management experience, highlight specific roles or responsibilities you've held that demonstrate your skills. Include examples of budgeting, forecasting, or financial analysis you've conducted, and mention any relevant software or tools you’ve used. Emphasize your ability to make data-driven decisions and improve financial performance. Lastly, mention any outcomes or successes you've achieved, such as cost savings or increased revenue.
Describe the four approaches to using financial ratios?
Describe the four approaches to using financial ratios?
How would you describe Kaisen budgeting?
Kaisen budgeting, a term borrowed from Japanese, is a budgeting approach that explicitly demands continuous improvement and incorporates all the expected improvements in the budget that results from such a process.
Identify and describe remedies available in equity?
identify and describe remedies availagle in equity
Describe a time when you had to identify a customer's need?
Describe a time when you had to identify a customer's need
Describe differences between northbridge and southbridge?
describe differences between northbridge and southbridge?
Identify the features of a play?
what are the features of a play? identify them and describe them.
Where can one learn how to use zero based budgeting?
Zero based budgeting is a really good approach to planning and making decision which is the opposite of traditional budgeting. The term "zero-based budgeting" is sometimes used in personal finance to describe "zero-sum budgeting", the practice of budgeting every dollar of income received, andthen adjusting some part of the budget downward for every other part that needs to be adjusted upward.
Identify and describe three major enterprise application?
Q 17. Identify and describe three major enterprise applications
Identify three tejanos who supported independence and describe their individual contributions?
boog boobies
Describe different consultation techniques used to identify treatment objectives?
Describe different consultation techniques used to identify waxing treatment objectives
Identify and describe five or more products that has been merchandise from Toyota motor?
Identify and describe five or more products that has been merchandise from Toyota motor?
Describe the sectional economic differences in the US during the early 1800's?
Describe the sectional economic differences in the United States during the early 1800s.
What spectrum is used to describe differences in radiation?
ople
