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Zero Based Budgeting
It is referred to also like priority based budgeting. It is a cost advantage approach budgeting where it is assumed that the cost allowance is Zero for any item till the manager responsible justifies its existence in terms of costs and benefits.
CIMA definition: it method of budgeting whereby all activities are re-evaluated each time the budget is set. It is concerned along with alternative implies that established activities have been compared along with alternative employs of the same resources.It takes away the implied right of existing activities to continue obtaining resources unless they can be implies to be the best employ of such resources.
Explain:- Q Why is the statement of cash flows useful? Q. How is it possible for a company to suffer a net loss for a given year, yet produce a positive net cash flow from opera
features of absorption costing
Visual Fit Method of Cost Estimation Cost estimation is based on past data regarding the dependent variable and the cost driver. The previous data on cost levels and the outpu
Apollo Company manufactures a single product that sells for $168 per unit and whose total variable costs are $126 per unit. The company's annual fixed costs are $630,000. (1) Use t
Morrow Company applies overhead based on direct labor hours. At the beginning of the year, Morrow estimates overhead to be $620,000, machine hours to be 180,000, and direct labor h
Shortflower Ltd currently publishes, prints and distributes a range of catalogues and instruction manuals. The management has now decided to discontinue printing and distribution a
The Clash Company uses Normal Job-Order Costing in its individual production department. Overhead is applied to jobs by a predetermined rate, which is depend on machine hours. Th
Accounts Payable or sundry creditors are generally unsecured debts owed through the firm. These are also considered to as payables on open accounts. They may not be evidenced throu
A co has a standard costing system. the following are avaiable for september: actual quantity of direct materials purchased and used: 20,000 pounds Standard price of direct mater
Advantages and Disadvantages of Uniform Costing Advantages 1. It enables costs to be compared simply 2. It makes it easier to computerize the accounting system of d
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