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Introduction of zero base budgeting
Steps involved in the introduction of zero base budgeting
1) Corporate objectives should be established and laid down in detail
2) Decision units should be identified by dividing the organization according to function operations or activities for details analysis
3) An analysis and documentation of each decision unit should be done by a responsible manager keeping the following points in view:
Current operational of decision unit should be identified and linked with organizational objectives.
Alternatives to meet the target should be expressed
Best alternatives should be selected and effects that are required to accomplish the alternative should be documented.
4) Decision units should be split into decision packages ranked in order of priority
5) Budget staff will compile operating expenses for packages approves by departmental heads
QUEUING THEORY When limited facilities fail/delays to satisfy demands made upon them, problems occur which generate queues or waiting lines. Illustrations are: • Customers
Advantages of ratio analysis 1) Helpful in financial analysis: financial analysis is easier if accounting ratios are used to analyze the different financial statement relatio
Bank guarantee is one of the facilities which the commercial banks extend in support of their clients in favour of third parties who will be the beneficiaries of the guarantees. In
Funded debt to total capitalization ratio The ratio establishes a link among the long term funds raised from outsider and total long term funds available in the business. The
JIT purchasing arrangements JIT philosophy also extends to adapting JIT purchasing techniques whereby delivery of material immediately precedes their use. By arranging with sup
How do the different cost classifications can assist the management
Archie Ltd manufactures a product called Gizmo. It uses the following direct inputs: Price Quantity Cost per unit of output Direct materials $4 per gram 10 grams per unit $40 per
Working capital is a necessary requirement for any type of business activity. Banks in India nowadays constitute the main suppliers of working capital credit to any type of busines
Define role of Management Accountant The main role of management accountant is defined below. Planner e.g. budgeting Information provider e.g. operating statement
What is the fastest time financial accounting assignment can be done by your company? It will be a report type format but overview type without going into depth.
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