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Implementation of the Decisions
Once alternative courses of action have been chosen, they must be implemented as part of the budgeting procedure. The budget is a financial plan for implementing the different decisions that management has made. The budgets for all the different decisions are stated in terms of cash inflows and outflows, and sales expenses and revenues. The budgets are merged altogether into a single uniting statement of the organization’s expectations for future periods. The statement is termed as a master budget. The master budget comprises budgeted profit and loss account, cash flow statement & balance sheet. The budgeting procedure communicates to everyone in the organization the part they are predictable to play in implementing the management's decisions.
importance of ratio analysis
This is a most familiar form of medium term financing in obtaining plant and vehicles, machinery etc. In hire purchase transactions, the purchaser of goods will obtain the possessi
Explain Functional classification a) Liquidity ratio: these are the ratio which measures the short term solvency or financial position of a firm. These ratios are calculati
Under this method, approximated profit is calculated depends on transactions of the ensuing period. Afterward, decrease or increase in working capital is determined adjusting the e
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Explain Sales budget A sales budget is an estimate of expected sale during a budget period. A sales budget is known as a nerve center or backbone of the enterprise. The degree
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Select Appropriate Alternative Courses of Action In practice, decision-making includes choosing among competing alternative courses of action and choosing the alternative which
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Cause Company is planning to invest in a machine with a useful life of five years and no salvage value. The machine is expected to produce cash flow from operations of $20,000 in e
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