Explain limitations of budgets, Operation Management

Assignment Help:

Explain limitations of budgets.

Limitations of Budgets:

(i) Since budget is based on calculates approximately, that is, estimated sales, estimated business conditions and estimated costs. It may require periodic revisions since estimates may not come out to be percent true.

(ii) A budget may not work when the idea of budgeting is not sold appropriately to different sections of the business. Only the persons working in various sections can make an established budget, a success. Therefore, it should be a cooperative budgeting.

(iii) A budget cannot work till the desire to make this work is established in the minds of persons working in the various sections of a business concern.


Related Discussions:- Explain limitations of budgets

Why a small business owner consider the demographics, Why should the small ...

Why should the small business owner consider the demographics of an area when choosing a location for opening a new business? Name some sources of demographic information that are

Point rating method, How to write point rating method for assignment

How to write point rating method for assignment

Explain make some kind of investment, After watching the video on Stony fie...

After watching the video on Stony field Farm answer this question: The responsible thing to do is to identify and examine every potential for doing good and make some kind of inves

Problems, the rate of use of a particular raw materials from stores is 20 u...

the rate of use of a particular raw materials from stores is 20 units per year. the cost of placing and recieving an order is Rs. 40. the cost of each unit is rs. 100 . the cost of

Explain definition of a project, Definition of a Project •Analyze how proje...

Definition of a Project •Analyze how project management supports the concept of strategic planning.

Explain criminally liable for actions of a few employees, Respondeat superi...

Respondeat superior is the theoretical basis for holding companies criminally liable for actions of their employees. Companies oftentimes have little defense against prosecution. C

How much hours of production time would you schedule for x, Plans are being...

Plans are being made to produce a product that requires 40 minutes on Resource X and 30 minutes on resource Y. Assume that there is only one of each of these resources, and that ma

Explain effectiveness of the changes made in the us, Evaluate the effective...

Evaluate the effectiveness of the changes made in the US Air Force Academy after the 2005 religious intolerance complaints

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd