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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.
Attributes of good information 1) Information is anything that is communicated and is sometimes said to be processed data. It is data processed in such a way as to be of meaning
Classification and computation of variances The computation and analysis of variances is the main aim of standard costing. The variance is the difference among the standard pe
Q. Pricing over the life cycle of a product? The cycle begins with the invention of the new product. The innovation of a new product and its degeneration to a common product is
The Simplex Method In the graphical solution the optimum solution is always associated with a corner (or extreme) point of the solution space. The simplex method is based funda
When to order-Material control If deliveries from suppliers normally take two weeks to arrive, then replenishment orders should be placed with them when the level of stocks rep
Cost volume profit analysis Meaning and definition Cost volume profit analysis is a technique for studying the relationship between cost volume and profits . profits of an
The advantages and disadvantages of standard costing The benefits for controlling having a standard costing system in operation can be summed up as follows; Cautiously pl
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Salialailai Ltd manufactures water tanks for different sizes for use by industrial customers. The company uses a job costing system, in which manufacturing overhead is applied on t
Explain Operating budgets These budgets relate to the dissimilar activities or operation of a firm the number of such budgets depends upon the size and nature of business. The
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