'Budgeting has a number of different purposes including: Planning; Control; Performanceevaluation; Motivation. Some managers believe that zero-based budget is more beneficialthan other types of the budget for firms.'Required:Critically discuss the above statement with reference to academic literature. In yourdiscussion, you should refer to the budgeting systems you learned in this module.

Budgeting is a process to prepare the financial statement by the manager to estimate the…

Answered: 'Budgeting has a number of different…

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter8: Budgeting For Planning And Control

Section: Chapter Questions

Problem 10DQ

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b) ‘Budgeting has a number of different purposes including: Planning; Control; Performance evaluation; Motivation. Some managers believe that zero-based budget is more beneficial than other types of the budget for firms.’ Required: Critically discuss the above statement with reference to academic literature. In your discussion, you should refer to the budgeting systems you learned in this module.
Give me an intro paragraph as to why budgeting impacts managers behavior
Which of the following is NOT true of the budgeting process? Question 8 options: Budgeting provides feedback to management to aid in assessing how well it's reaching its goals. Budgets force managers to plan for the future. Budgets force managers to consider relations among operations across the entire value chain. The performance report is prepared as part of the master budget.
‘Budgeting has a number of different purposes including: Planning; Control; Performance evaluation; Motivation. Some managers believe that zero-based budget is more beneficial than other types of the budget for firms.’ Critically discuss the above statement with reference to academic literature. In your discussion, you should refer to the budgeting systems zero-based and incremental.
Explain the role and limitations of budgeting in business organizations. Support your answer with suitable examples.
Focusing on improving the activities that are showing significant differences between budgeted and actual results is: A.quantifying plans B.management by exception C.cash management D.creating benchmarks
Briefly discuss the budgeting process and explane how the budgeting process satisfies the purpose of planning, controlling and evaluating performance?
1) Explain the concept of contribution and limiting factors and how it can be effectively used in decision making2) Explain what you understand by Budgets, Fixed Budgets and Flexible Budgets in the context of controland performance evaluation of an organization of your choice.
What are some characteristics of performance-based budgeting? What are some advantages and disadvantages of performance-based budgeting? How does the organization you selected incorporate performance-based budgeting? If the organization you selected does not incorporate performance-based budgeting, how does the organization reflect or incorporate program outcomes to the budget? When responding to classmates, compare the organization you chose to theirs. Is one organization more successful at describing their strategic plan and aligning their budget to reflect outcomes? Why or why not?
A budget represents a target and aiming towards a target can be a powerful motivator. However, whether the target will actually cause employees to do better is thought to depend on how difficult the target is perceived to be. Required Evaluate the motivational considerations that should be made in the setting up of a budgetary planning and control system.
What are the three major objectives of budgeting? Briefly describe the type of human behavior problems that might arise if budget goals are set too tightly.
1. Why is it important to have a fair, balance criteria in making budgeting model? 2. Why is it important to follow ethical provisions in making budgeting model?

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