List the advantages of program based budgeting, Managerial Accounting

Assignment Help:

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 happen''.

‘'A forecast is a statement of what is expected to happen''

Consider the above statements and explain the functions of a budgetary control system.

(b) In the public sector, the Medium Term Expenditure Framework (MTEF) is one of the approaches used to reform public expenditure planning and management processes enabling Governments to more clearly focus limited resources on achieving their objectives at both the national and sector levels, and improve the effectiveness and efficiency of expenditures.

A program budget is any budget that presents information on what ministries have done or expect to do with the money provided to them. It is designed to improve decision-making by providing better information on how well Government services meet the national community's needs.

(b) Explain what do you understand by Program Based Budgeting and describe how it works in the context of the Medium Term Expenditure Framework.

(c) List the advantages of program based budgeting


Related Discussions:- List the advantages of program based budgeting

The total cost accumulated in the assembly department, Kent Company had 800...

Kent Company had 800 units of product in its assembly department's work in process inventory at the starting of the period. During the period 3,000 additional units of product were

Current cost acconting, critically examine the current cost accounting for ...

critically examine the current cost accounting for price level changes

Determine the nature of accounting, The Nature of Accounting Accounti...

The Nature of Accounting Accounting is process of recording, analyzing, summarizing, and interpreting financial (money-related) activities to allow individuals as well as org

#, Describe the important role that the corporate level strategy has in rel...

Describe the important role that the corporate level strategy has in relation to the development of the business and functional strategy in a multi -business organization

Markov chains, Markov Chains: Markov Chains are named after the Russia...

Markov Chains: Markov Chains are named after the Russian statistician A.A Markov who developed probabilistic models that are often applicable to decision making problems in bu

Advantages-limitations-dynamic programming, Advantages and Limitations of D...

Advantages and Limitations of Dynamic Programming Advantages: (1) In certain types of problems such as inventory control management, Chemical Engineering design, dynamic

Time series analysis, how do i use least squares method to solve semi avera...

how do i use least squares method to solve semi average problem?

What are the features of product life cycle costing, Features of product li...

Features of product life cycle costing Product life cycle costing is important due to the following features: 1) product life cycle costing involves tracing of costs and re

Quadratic loss function, Consider the following quality data for three diff...

Consider the following quality data for three different manufacturers of automobile weather-strips: Weather-strip Bulb Dimension Specification y=20 +or- 4mm

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