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State Budgetary Control
A budget is a quantitative expression of a plan of action relating to the forthcoming budget period. It represents a written operational plan of management for the budget period. It is always expressed in terms of money and quantity. It is the policy to be followed during the budget period for attainment of specified organizational objectives.
The essential features of a budget are:
(a) financial and quantitative statement of the action plan,
(b) laid down prior to the budget period during which it is followed,
(c) based on management's policy and (d) prepared for specified objective.
According to CIMA terminology, a budget a plan expressed in money. It is prepared and approved period to the budget period and may show income expenditure and the capital to be employed. May be drawn up showing incremental effects on former budgeted or actual figures or be compiled by zero based budgeting.
What is the Responsibility of operating budget when the operating budget of a firm is constructed in terms of responsibility areas it is called the responsibility budget shows
The assignment model Consider the situation of assigning m jobs (or workers) to n machines. A job i(= 1,2,3 ...m) when assigned to machine j(= 1,2,3 ...n) acquires a cost Cij.
a cost-allocation base may be any of the following except: a. cost driver b. cost pool c. way to link indirect cost to a cost object d. nonfinancial quantity
Coolidge Company estimates that its production workers will work 125,000 direct labor hours during the upcoming period and that overhead costs will amount to $500,000. What predete
Bridge loans are obtainable from the banks and financial institutions while the source and timing of the funds to be raised is identified along with certainty. While there is a tim
1. Do you think that the tax minimization scheme described to Debbie Kishimoto is in harmony with the ethical behavior that should be displayed by top corpo- rate executives? Wh
Examples
contribution margin
Assumption of break even analysis The break even analysis is based upon the following assumptions : 1) All elements of cost, i.e., production , administration and selling di
Explain Functional classification a) Liquidity ratio: these are the ratio which measures the short term solvency or financial position of a firm. These ratios are calculati
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