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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
Competition oriented pricing policy Most companies fix the price of their products after a careful consideration of the competitor's price structure. Deliberate policy may be f
Significance of performance budgeting Performance budgeting will help the management of companies by introduction of management objective to improve performance. Further it wi
Question: (a) "Budgetary control comprises two distinct elements - Planning and Control''. ‘'A budget is a statement of what it is reasonable to believe can be made to ha
Determine Cost pool and Cost drivers Cost pool: it is another name given to a cost centre and, therefore an activity cost centre may also be termed as an activity cost pool.
The working capital needs of a firm are influenced by many factors. The important ones are as follows: Nature of business: The working capital necessity of a firm is closely l
The management of Popular Stores Sdn. Bhd. are in the process of exploring the company’s investment opportunities.
What are the Objectives of budgetary control 1) Planning : planning is an important managerial function. it helps to decide in advance, what to do how to do it when to do it a
static budget
What does it mean when we say consistency is the central feature of economic rationality?
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