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What are the Features of zero base budgeting
1) Manager of a decision unit has to completely justify why there should be at all any budget allotment for his derision unit. This justification is to be made a fresh without marking reference to previous level of spending in his department.
2) Activities are identified in decision packages
3) Decision packages are ranked in order of priority
4) Packages are evaluated by systematic analysis
5) Under this approach there exists a frank relationship between superior and subordinates. Management agrees to fund for a specified service and manager of the decision unit clearly accepts to deliver the service
6) Decision packages are liked with corporate objectives which are clearly laid down
7) Available resources are directed towards alternatives in order of priority to ensure optimum results
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
What are the duties of the Public Company Accounting Oversight Board?
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INCOME STATEMENTS
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