Explain how a budget can be used to assist managers in planning and controlling.
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 75% (12 reviews)
Budgets are not control systems they are a component part of planning and control systems In the con...View the full answer
Answered By
Grace Igiamoh-Livingwater
I am a qualified statistics lecturer and researcher with an excellent interpersonal writing and communication skills. I have seven years tutoring and lecturing experience in statistics. I am an expert in the use of computer software tools and statistical packages like Microsoft Office Word, Advanced Excel, SQL, Power Point, SPSS, STATA and Epi-Info.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Management Accounting
ISBN: 9781760421144
7th Edition
Authors: Kim Langfield Smith, Helen Thorne, David Alan Smith, Ronald W. Hilton
Question Posted:
Students also viewed these Advanced Accounting questions
-
Explain how a budget can be used to evaluate a managers performance and provide incentives.
-
Explain how a budget helps achieve effective cash management.
-
Explain how a budget facilitates communication and coordination.
-
Which is false? The Chinese government is reluctant to let the yuan appreciate against the US dollar because: Appreciation of the yuan would increase the price of real estate for young Chinese...
-
A 2.00 kg object is subjected to three forces that give acceleration a = (8.00 m/s2)i + (6.00 m/s2)i. If two of the three forces are F1 = (30.0 N)i + (16.0 N)j and F2 = (12.0N)i + (8.00 N)j find the...
-
Abbott Laboratories manufactured and sold the Life Care PCA, a pump that delivers medication into a person intravenously at specific time intervals. Beverly Lewis sued Abbott in a Mississippi state...
-
A The relationship between income/cost/volume suggests that there are four ways by which profit can be increased. These are: 1 Increase unit selling price. 2 Decrease unit variable cost. 3 Decrease...
-
The demand curve for product X is given by Qdx = 460 = 4Px. a. Find the inverse demand curve. b. How much consumer surplus do consumers receive when Px = $35? c. How much consumer surplus do...
-
Company XYZ has developed the concept of a new product, from preliminary budgetary estimate to final design ready for implementation. The development has required an initial investment at the...
-
The pressure difference between an oil pipe and water pipe is measured by a double-fluid manometer. For the given fluid heights and specific gravities, calculate the pressure difference AP = Pg - PA....
-
What types of information might a management accountant provide to assist management in a business that considered product quality to be of key strategic importance?
-
'Planning systems and control systems are unrelated parts of a management accounting system.' Do you agree? Explain your answer.
-
Use the T accounts for Cash below to record the portion of each of the following transactions, if any, that affect cash. How do these transactions affect the company's liquidity? Jan. 2 Provided...
-
Let assume we have a list of numbers contains even and odd numbers, so you need to build an algorithm to make the odd number in the beginning of the list and the even number at the end of the list....
-
How do epigenetic modifications contribute to the regulation of phenotypic traits, and what is the role of transgenerational epigenetic inheritance in the continuity and divergence of phenotypes...
-
Can you elaborate on the concept of canalization and its role in buffering phenotypic traits against genetic and environmental perturbations, as well as its implications for evolutionary robustness ?
-
During the month of April, likey Manufacturing Company had two jobs under production, Job 234 and 567. The following transactions occurred: Purchased materials for 100,000. Materials requisitioned...
-
A company is developing a robotic vacuum cleaner. This new product will require per unit variable costs of $250 for direct materials, $30 for direct labor, $43 for overhead, and $38 for selling,...
-
Figure 28.19 shows part of the energy level diagram for the electrons in an imaginary atom. The arrows represent three transitions between the energy levels. For each of these transitions: a....
-
A horizontal annulus with inside and outside diameters of 8 and 10 cm, respectively, contains liquid water. The inside and outside surfaces are maintained at 40 and 20oC, respectively. Calculate the...
-
The following data relating to units shipped and total shipping expense have been assembled by Archer Company, a wholesaler of large, custom-built air-conditioning units for commercial buildings;...
-
The Lakeshore Hotels guest-days of occupancy and custodial supplies expense over the last seven months were; Guest-days is a measure of the overall activity at the hotel. For example, a guest who...
-
Morrisey & Brown, Ltd., of Sydney is a merchandising company that is the sole distributor of a product that is increasing in popularity among Australian consumers. The companys income statements for...
-
q1: q2: help and explain The Museum of History is preparing for its annual appreciation dinner for contributing members. Last year, 650 members attended the dinner. Tickets for the dinner were $26...
-
This is part 2. The following information is from the Oregon Revised Statutes, Chapter 673, for Tax Consultants and Tax Preparers. Click the following link to access the reading material for part 2...
-
The manager explained that this practice created a pool of money that could be refunded to departments when they were having financial difficulties. It's also known that department managers receive a...
Study smarter with the SolutionInn App