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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.
1. Explain the modern control methods with examples. 2. What are the reports produced for performance measurement? Demonstrate.
What is Cost unit While the cost centres assists in ascertaining costs by location, person, equipment, operation or process, cost unit is a unit of product, service or a combin
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tha accountant''s approach to CVP ANALYSIS HAS BEEN CRITICISED IN THATIT DOES NOT DEAL WITH THE FOLLOWING; CHANGES IN PRODUCT MIX. WHY IS IT SO?
Describe Committed fixed costs Committed fixed costs are those fixed costs that arise from the possession of 1. Plant, building and equipment (for example, depreciation, re
Kinematic Pair: A pair is a joint of two elements which permits relative motion. The relative motion among the elements of links that built a pair is needed to be fully constrain
accounting process or accounting cycle
Assumptions Underlying the CVP Analysis CVP analysis as discussed above is based on certain assumptions . if these assumptions are not recognized then serious error may result
It is a spontaneous source of finance that is commonly extended to business organization depending on the custom of the competition and trade prevailing within the organization and
Use of Budgetary controls Budgetary controls are used for the following reasons: 1) To state the objectives of the organization as a whole. 2) To reveal the extent by whi
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