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Significance of performance budgeting
Performance budgeting will help the management of companies by introduction of management objective to improve performance. Further it will identify and evaluate alternative programmer and activities on the cost benefit analysis so that these are undertaken for attaining the given objectives. On the basis of priorities performance budgeting may provide a rational basis allocating funds.
Performance budgeting may be said to integrate the planning budgeting costing reporting and control system by an enterprise. It can be applied with other techniques like PERT and CPM
Non-zero lead time (determining reorder point) This basic EOQ model assumes that the suppliers lead time is zero (i.e. goods are delivered immediately on the day the order was
Imposed Budgets In this approach to budgeting, top management prepares a budget with little or no help from operating personnel, which is then obligatory upon the employees who
Definition of Linear Programming What is Linear Programming
1. A firm's independent auditors have the responsibility to: a. assess the firm's accounting policies. b. ascertain the firm's profit potential. c. uncover all fraudulent
Criticism of Material Requirement Planning
what are the most effective management styles in an organisation
Viti Ltd, located in southern Viti Levu, manufactures a variety of industrial valves and pipe fittings that are sold to customers in the eastern states. Currently, the company is o
Illustration of Standard error of estimate The production manager of XYZ Company is concerned about the apparent fluctuation in efficiency and wants to determine how labour cos
Control Control includes a comparison of actual performance with the plan so that deviation from the plan can be identified and corrective action taken. It can be define
Capital Project comparing hybrid vs non-hybrid cars.
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