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Participative BudgetsIn this approach to budgeting, budgets are developed by lower level managers who then submit them to their superiors. The budgets depend on the lower level manager perception of what is achievable and the associated necessary resources. The degree to which lower level managers are allowed to participate in the budgeting process depends on:
(a) Senior manager’s awareness of participatory budgeting advantages.(b) Their agreement with those advantages.Participatory budgets are effective in the following areas:
POINT ESTIMATE OF PROBABILITIES This approach requires a number of different values for each of the uncertain variables to be selected. These might be values that are reasonabl
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opening stock unit were 8500 and closing stock units were 6750.frofit of 61200 using managerial costing.fixed overhead absorbed rate was 3 pr unit.what is the profit using absorpti
How to write introduction on strategy plan
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The Baumol Model in 1952 considers cash management complication as same to inventory management problem. For itself the firm attempts to minimize the total cost that is the sum of
Major features of JIT (1) Elimination of non-value added activity: JIT manufacturing can be described as a philosophy of management, dedicate to the elimination of waste. Wa
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