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Explain the techniques of performance budgeting
It will also be useful to examine the three major aspects of this technique:
Structural aspects: the structural aspects involve the development of suitable classification of functions programmer and activities.
Analytical aspects: the analysis aspects of performance budgeting will identify the alternative programmer and activities on the basis of cost benefit analysis. Then the annual budgets can be prepared incarnating the activities on the basis of priorities
Information aspects: the informational aspects of performance budgets implementation of the budget control and appraisal of achievements.
The significant objectives of short-term cash forecast are as given: find out operating cash requirement anticipating short term financing Organization investment of
EOQ mathematical model As costs of ordering and holding stock are equal at the EOQ point, we can build a simple mathematical model to solve the problem, as follows: (Q/ 2) X
What is a pro forma financial statement and how does it relate to the master budget?
Cost driver analysis Cost drivers are factors, which determine the costs of an activity i.e. a change in the cost driver will cause a change in the level of total cost relate
Gather Data about Alternatives When potential areas of activity are specified, management must assess the potential growth rate of the activities, the capability of the company
definition and illustrations
meaning of group replacement policy
.1 You are the Management accountant of an industrial concern and have been assigned the duty of preparing a cost accounting system. Initially it has been decided to prepare three
Significance points of Variance The following significant points must be kept in mind: Controllability: Controllability should also influence the decision whether t
CONTIGENCY THEORY Some researchers have argued that the context in which budgetary control is used is as important as the style in which it is implemented and used. This is ter
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