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A sub-functional budget is a detailed financial plan that breaks down expenditures within a specific section or function of an organization, such as a department or program. It provides a granular view of resource allocation, allowing managers to track and manage costs more effectively. By focusing on specific activities or projects, it helps organizations ensure that funds are used efficiently and align with overall strategic goals.
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Importance of functional budget?
You need your budget to be functional or else you might as well get rid of it. A functional budget can help you to stay on track and know where your money is.
What are accounting and finance systems functional areas?
Accounting and Financial areas includes payroll adminstration, cash budgeting, cash flow management, tax, Budget preparation & verification, MIS, FIFO, LIFO, etc..........
What is the role of a budget committee?
The role of the budget committee is to help create a federal budget and oversee that budget. They prepare the budget resolution and review budget related laws and bills.
Which budget is prepared first?
The sales budget is the first budget to be prepared.
What is main difference between capital budget and revenue budget?
While the capital budget and revenue budget are both budgets, the capital budget is incorporated for the long term. A revenue budget is made for the short term.
What are the types of functional budgets?
There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.
What are functional budgets?
A functional budget is a budget that has a purpose and works well for the company or individual using the budget. Having a functional budget is important so finaces stay in order and are accurate.
What are the different types of functional budgets?
There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.
Types of functional budget?
A functional budget is a budget which relates to any of the functions of an undertaking. E.G. sales, production, research, development..
Importance of functional budget?
You need your budget to be functional or else you might as well get rid of it. A functional budget can help you to stay on track and know where your money is.
Illustrate by means of a diagram the budget planning process show clearly the difference between a functional budget and a financial budget?
iiiustrate by means of a diagram the budget planning process show clearly the difference between a functional budget and a financial 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.
What are the different types of functions?
There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.
What are different type of function?
There are a few different types of a functional budget. These include a sales budget, production budget, and a purchase budget.
Is a summary budget incorporating the functional budgets which becomes the overall olan for the business is known as?
MASTER BUDGET
The individual budgets which go to make up the whole are termed as?
FUNCTIONAL BUDGET
What is the meaning of a functional department?
Functional departments are the higher level departments, such as Sales, under which sub-departments like Field Sales for example fall.
