In this article we will discuss about:- 1. Meaning of Budgeting 2. Nature of Budget 3. Process 4. Purposes 5. Essentials 6. Master Budget 7. Flexible Budget 8. Research and Development Budget 9. Capital Expenditure Budget 10. Cash Budget 11. Budgeted Balance Sheet 12. Human Resource Budget 13. Administering the Budget 14. Revision of Budget and Other Details. Contents: Meaning [...]
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, etc. It is designed to [...]
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. Essentials of an Effective Budgeting: [...]