importance of budgeting business marketing expenses and any ethical problems
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- Management accountants help the management of an organization in their planning function through ________________________________. monitoring anti-theft systems strategic planning evaluating costs analyzing profitsWhich of the following is not a benefit of budgeting? O Provide a way to measure business performance Help managers communicate expectations and quickly. spot deviations Keep managers focussed on financial implications of their business decisions O Provide a way to hire specialized laborsHow could cost-volume-profit analysis be used in budgeting? In making a decision about advertising?
- Answer with logical reasoning. Give an example where needed i. How management accounting and cost accounting can be an efficient in monetary and non-monetary report management as compared to financial accounting reporting system. ii. How flexible budget through performance reporting is help for the management in determination of direct material cost control?What are the difficulties that might face by management accountant in budgeting process?how budgeting is useful in managing businesses?
- Which of the following statements are TRUE? I. Responsibility accounting attempts to assign blame for problems to a specific manager.II. One benefit of a budget is that it helps managers gather relevant information for improving future performance.III. Challenging budgets tend to motivate improved performance.IV. Controllability may be difficult to pinpoint because some costs are the result of the market, not the manager.(3) Explain the ethical considerations as it relates to using budgets as a basis for rewarding managers? (4)Explain three specific benefits that a system of budgetary planning and control may bring to an organization.Explain the role and limitations of budgeting in business organizations. Support your answer with suitable examples.
- Managers should be closely involved in preparing their responsibility accounting budget. How true is this?Describe the importance of Budgeting in the BusinessManagement accountants help the management of an organization in their planning function through ________.A. monitoring anti-theft systemsB. strategic planningC. evaluating costsD. analyzing profits