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What is Budgetary control
Budgetary control is the process of determining various budgeted figures for the enterprises for the future period and then comparing the budgeted figures will enable the managing to the actual performance for calculated variances, if any. First of all budget are prepared and then real results are recorded the comparison of budgeted and real figures will enable the management to search out discrepancies and take remedial measures at a proper time. The budgetary control is a continuous process which helps in planning and co ordination. It provides a method of control too. A budget is a means and budgetary control is the end result.
Advantages of zero base budgeting 1) it provides a basis for evaluating decision packages on the basis of benefit considerations 2) it reduces inefficiency and achieves high
In this method, approximation of various assets here excluding cash and including liabilities are made getting into consideration the transactions in the ensuring period. Afterward
These loans are given by the Banker for short periods for an exact activity like financing for a civil contract work. As the customer receives payment, the transaction will be repa
Explain decision unit - zero base budgeting Decision units: an organization is divided among decision units. The manager of the decision unit justifies the relative budget
After determining the amount of working capital as in above, a specific amount say 5 percent or 10 percent may be added to cover contingencies. This is to be noted that facts depen
What is the Flexible budgets A flexible budget consists of a series of budgets for different level of activity. It therefore varies with the level of activity attained. A flex
Explain the Scope of cost accounting Scope of cost accounting: the scope of cost accounting is very wide and includes the following: 1 cost ascertainment: it deals with t
Discretionary fixed costs and Semi variable costs Discretionary fixed costs are those which are incurred as a result of management discretion. These costs have two importan
monetaryor non monetary which will arise as aresult of implemenntinng the project
Maximum change in marginal Profit or Cost Just as we did in studying the permissible ranges for changes in resources, we are also interested in studying the permissible ranges
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