Tag Archives | Budgeting

Flexible Budgeting: Meaning and Disadvantages | Accounting

In this article we will discuss about:- 1. Meaning of Flexible Budget 2. Importance of Flexible Budget 3. Steps in Preparation 4. Disadvantages. Meaning of Flexible Budget: Flexible budget is a budget which, by recognizing the difference in behaviour between fixed and variable costs in relation to fluctuations in output, turnover, or other variable factors, […]

9 Essentials of an Effective Budgeting

The following points highlight the nine essentials of an effective budgeting. The nine essentials are: 1. Sound Forecasting 2. An Adequate, Planned and Reliable Accounting System 3. Efficient Organisation 4. Formation of Budget Committee 5. Cleanly defined Business Policies 6. Availability of Standard Information 7. Support of Top Management 8. Good Reporting System 9. Motivation. […]

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