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Budgetary Planning and Control - Accounting Techniques
A budget is a plan of action expressed in monetary terms. Therefore it is a quantified plan of what one intends to do.
All business must prepare a budget that is a document which has:
1. Quantify the strategy that management has decided to implement in order to achieve the business objectives for a future period. The budget will signify planned expenditure and income and may be analyzed to involve details for each product department and type;
2. Offer a base for control cycle; the control cycle is as given:
3. Provide a mechanism via such management responsibility may be matched along with the budgetary information and assisted with the budgetary control cycle.
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What are the factors affecting working capital requirements
The following data (in thousands of dollars) have been taken from the accounting records of Barn Burner Corporation for the just completed year. Sales
standard hours = 5000 standard wages = Rs.3/hr actual hours worked = 5600 hrs actual wages paid = 17920
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What are the dependent and independent variables in Cost Accounting??
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