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Question:
(a) "Budgetary control comprises two distinct elements - Planning and Control''.
‘'A budget is a statement of what it is reasonable to believe can be made to happen''.
‘'A forecast is a statement of what is expected to happen''
Consider the above statements and explain the functions of a budgetary control system.
(b) In the public sector, the Medium Term Expenditure Framework (MTEF) is one of the approaches used to reform public expenditure planning and management processes enabling Governments to more clearly focus limited resources on achieving their objectives at both the national and sector levels, and improve the effectiveness and efficiency of expenditures.
A program budget is any budget that presents information on what ministries have done or expect to do with the money provided to them. It is designed to improve decision-making by providing better information on how well Government services meet the national community's needs.
(b) Explain what do you understand by Program Based Budgeting and describe how it works in the context of the Medium Term Expenditure Framework.
(c) List the advantages of program based budgeting
The least-cost method The process is described as follows: Assign as much as possible to the variable with the least unit cost in the whole tableau. (Ties are broken randomly).
Introduction to pricing decision A pricing decision is one of the most crucial and difficult decision that a firm has to make. It is one of the most difficult decisions. Such
Q. What is the issue price for Bond A and B ? On December 31, 20x7, the Jill Corporation issued $20,000,000 of 15 year face value bonds. The bonds pay interest on June 30 and D
What are the Changing role of management accounting 1. Focus on customer scarification: customer satisfactions are continuously gaining high priority in management thinking i
taking the role of a consultant, discuss the factors you would consider in selecting a suitable accounting system solutio for a small to medium enterprise. i has to be 1200 q\work
QUESTION 1 PART A You are provided with the given information relating to ABC Limited. The accountant is currently developing the budget for the next three months endin
Determine the Profitability ratios in relation to investment a) Return on capital employed/ return on investment b) Return on equity or return on equity share holders' funds
Positioning An essential part of the planning process is positioning the organization to attain its goals. Positioning is a wide concept and depends on gathering and evaluating
THE BREAK EVEN POINT
When forming a company, the options are sole proprietor, partnership, and corporation. Most choose corporation. Why is the corporate form seen to be best? What rights do the stockh
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