variations of budgets are continuous budgets and continuously updated budgets. Rather than preparing one budget for the upcoming year, in a continuous budget one updates the budget for the following twelve months at the end of each month or each quarter.
The amendment process is when they go throught the amendmentsand pick out the ones that best relate to the topic.
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describe cubist ideology?
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A master budget is comprised of operating budgets and financial budgets.
A top-down budget is a budget that is essentially imposed on the organization by top management.
An incremental budget is a budget that is prepared based on prior-year figures, allowing for factors such as inflation.
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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.
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A participatory, or bottom-up budget, on the other hand, starts with the employees in each department determining their needs and requirements in order to achieve the company goals.
The SUM function would be used to total up the figures for the budget, but other functions might be used too during the process.
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A zero-based budget, on the other hand, is a budget that does not take anything for granted. It starts from point zero for each budgetary element and department each year and attempts to justify every dollar of expenditure.