Distinguish between Budgets and Budgetary Control
Accounting

Distinguish between Budgets and Budgetary Control

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
Accounting

Production budgets

Production budgets: Production budget is the projection of units that must be produced to meet anticipated sales. It is in two parts – one part…
Pre-requisites for establishing Budgetary Control System
Accounting

Pre-requisites for establishing Budgetary Control System

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…
Objects of Budgetary Control
Accounting

Objects of Budgetary Control

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…
Features of Flexible Budget
Accounting

Features of Flexible Budget

Main Features of Flexible Budget A budget may be defined as a quantitative expression of a business plan for a specified future period, usually a…
Sales Budget
Accounting

Sales Budget

The sales budget is an estimated sale for the budgeted period. The sales budget is constructed by multiplying budgeted unit sales by the selling price.…
Major benefits of Just in Time (JIT) System
Accounting

Major benefits of Just in Time (JIT) System

Major benefits of Just in Time (JIT) System Just in time system is basically a kind of inventory system in which materials are brought immediately…
Theory of Constraints (TOC)
Accounting

Theory of Constraints (TOC)

Theory of Constraints (TOC) The Theory of Constraints is a methodology for identifying the most important limiting factor (i.e. constraint) that stands in the way…
How does Zero Based Budgeting differ from Traditional Budgeting?
Accounting

How does Zero Based Budgeting differ from Traditional Budgeting?

Zero Based Budgeting is a method of budgeting in which all expenses must be justified for each new period. It aims to put the responsibility…
Concept of Zero Based Budgeting
Accounting

Concept of Zero Based Budgeting

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