Budgetary planning and control - accounting techniques, Cost Accounting

Assignment Help:

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:

  • Establish the plan or budget
  • Measure real performance
  • Compare plan along with real performance
  • Take corrective action like required

 

3. Provide a mechanism via such management responsibility may be matched along with the budgetary information and assisted with the budgetary control cycle.


Related Discussions:- Budgetary planning and control - accounting techniques

#title.payroll procedures., describe the procedures involved in payroll lab...

describe the procedures involved in payroll labour cost accounting

Cost accounting, Cost accounting as a descriptive or analytical discipline

Cost accounting as a descriptive or analytical discipline

Define the marginal, Total profit means the total revenue excluding the tot...

Total profit means the total revenue excluding the total cost of the certain products. Average profit defines the profit which comes and achieved after selling each unit. Total

Break-even analysis, Break-Even Analysis Break-even point is the volum...

Break-Even Analysis Break-even point is the volume of sales at that there is no loss or. Break-even charts graphically show the relationship of cost to profits and volume and

#title.suspense account, The book of Deven Verma could not be tallied. The ...

The book of Deven Verma could not be tallied. The account transferred the difference of Rs. 1.270 in the suspense account on the debit side. the following mistakes were found later

Methods of allocating service costs, Methods of Allocating Service Costs ...

Methods of Allocating Service Costs Direct Method The service costs are merely allocated to the production department according to the usage of the services given. St

Price to set on the job, Bakeson Bearings Ltd is preparing to submit a bid ...

Bakeson Bearings Ltd is preparing to submit a bid for a bearings order.  Janet Lake,  CEO of the Manufacturing Division, has asked Jason Docker, the management accountant, to prepa

Material handling, Material Handling The objective is to ensure about ...

Material Handling The objective is to ensure about the goods are delivered to the right places at the right instance and in aright manner to ignore delays, unnecessary and con

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd