Accounting

Benefits and Limitation of Budgetary Control Budgetary control is a methodical control of an organization’s operations throw establishment of standards and targets regarding income and…

The concept of Zero Base Control Zero Base Control is a method of budgeting in which all expenses must be justified for each new period.…

Segment reporting: The Financial Accounting Standards Board (FASB) now requires that companies in the United States include segmented financial and other data in their annual…

Cost center: A responsibility center in which a manager is responsible for costs incurred by the segment. The manager of a cost center has control…

Budgetary control is a methodical control of an organization’s operations throw establishment of standards and targets regarding income and expenditure, and continuous monitoring and adjustment…

The cash budget is a detailed plan showing how cash resources will be acquired and used over a specific time period. So this budget is…

Distinguish between Budgets and Budgetary Control A budget is a formal written statement of management’s plans for a specified future time period, expressed in financial…

Production budgets: Production budget is the projection of units that must be produced to meet anticipated sales. It is in two parts – one part…

Budgetary control refers to how well managers utilize budgets to monitor and control costs and operations in a given accounting period. Following are the pre-requisites…

Budgetary control is a methodical control of an organization’s operations throw establishment of standards and targets regarding income and expenditure, and a continuous monitoring and…