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STEPS IN BUDGETARY CONTROL
1. Quantification of plans in relation to sales, production, distribution and finance in terms of objectives and goals set by the management. That is, Prepare budgets for each section of organization.
2. Record real performance.
3. Compare actual & budgeted performances.
4. Remedial action to be taken if there is any dissimilarity.
5. Re-check budgets if necessary.
How to compare minimax and maximin with figures and commentary ?
Compare diversifiable and nondiversifiable risk. Which do you believe is more significant to financial managers in business firms? Actually Diversifiable risk can be dealt with b
STEPS IN BUDGETARY CONTROL 1. Quantification of plans in relation to sales, production, distribution and finance in terms of objectives and goals set by the management. That i
What is an agent? What are the responsibilities of an agent? An agent is a person who has the actual or implied authority to act on behalf of another. The owners whom the agen
a) IPod -Line / Mass production is most suitable given that Apple can sell the standardised product to mass markets across the world. Only small variations to the production proces
RISK RETURN RELATIONSHIP A business operates in a market environment, which is not within its control. It is exposed to several dangers from the internal with external sources
Perform appropriate ratio analyses on the balance sheet and income statements of your company using techniques discussed in chapter 2 of your textbook. Compare your company to a c
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What to do to maximise profits of the company If you want to maximise profits, there are only two methods to do it. Either you decrease your expenses (also known as costs) or y
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