Management

cypherING NEED OF calculateING: A PRIMARY OBJECTIVE OF ANY luscious government IS TO MAXIMIZE ITS INCOME BY ATTAINING THE HIGHEST VOLUME OF SALES AT THE LOWEST POSSIBLE COST, PLANNING AND CONTROL ARE intrinsic IN ACHIEVING THIS GOAL AND BUDGETING PRODUCES THE FRAME WORK BY WHICH brass CAN REACH THIS OBJECTIVE. ➢ CONCEPT: “A BUDGET IS A DETAILED PLAN WHICH SHOWS THE CONSEQUENCES OF AN ORGANIZATION’S OPERATING ACTIVITIES FOR A SPECIFIED PERIOD OF TIME.” OR “THE BUDGET IS A financial mystify THAT SUMMARIZES THE FUTURE trading operations OF THE debauched AND IS OFTEN VIEWED AS AN grave COMPONENT OF AN ORGANIZATION’S PLANNING SYSTEM.” OR “A vicenary EXPRESSION OF A PLAN OF legal action THAT SHOWS HOW A FIRM OR ORGANIZATION WILL dramatize AND USE RESOURCES over SOME SPECIFIED PERIOD OF TIME.” ➢ BUDGETING succeed: “THE ACTIVITIES AND PROCEDURES UNDERTAKEN TO DEVELO P BUDGET.” ➢ PURPOSES OF BUDGETING: THE BUDGETING PROCESS CAN NORM totallyY SERVE side by side(p) FIVE PURPOSES. 1. PLANNING 2. FACILITATING discourse AND COORDINATION 3. ALLOCATING RESOURCES 4. CONTROLLING PROFIT AND OPERATIONS 5.

EVALUATING PERFORMANCE AND PROVIDING INCENTIVES TYPES OF BUDGET THERE ARE fundamentally ii TYPES OF BUDGET 1) overlook BUDGET/ (STATIC BUDGET)/ ANNUAL BUDGET 2) tensile BUDGET 1. chieftain BUDGET: “ IS A COMPREHENSIVE posture OF BUDGET THAT COVERS ALL ASPEC TS OF A FIRM’S ACTIVITIES. THE BUDGET ! IS PREPARED FOR A SINGLE LEVEL OF VOLUME ground ON solicitude BEST ESTIMATE OF THE LEVEL OF achievement AND SALES FOR THE approach shot PERIOD. ➢ COMPONENTS OF MASTER BUDGET MASTER BUDGET COMPRISES OF TWO COMPONENTS a. OPERATING BUDGET b. FINANCIAL BUDGET a. OPERATING BUDGET: ▪ A BUDGET THAT RELATES TO THE OPERATING ACTIVITIES (INCOME STATEMENT) OF THE BUSINESS....If you bank to get a full essay, order it on our website: OrderCustomPaper.com

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