Management

work outING NEED OF work outING: A PRIMARY OBJECTIVE OF ANY savoury government IS TO MAXIMIZE ITS INCOME BY ATTAINING THE HIGHEST VOLUME OF SALES AT THE LOWEST POSSIBLE COST, PLANNING AND CONTROL ARE inhering 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 pecuniary 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 put through THAT SHOWS HOW A FIRM OR ORGANIZATION WILL memorise AND USE RESOURCES over SOME SPECIFIED PERIOD OF TIME.” ➢ BUDGETING cite: “THE ACTIVITIES AND PROCEDURES UNDERTAKEN TO DEVELOP BUDG ET.” ➢ PURPOSES OF BUDGETING: THE BUDGETING PROCESS CAN NORM totallyY SERVE followers 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 devil TYPES OF BUDGET 1) overlook BUDGET/ (STATIC BUDGET)/ ANNUAL BUDGET 2) bendable BUDGET 1. higher-up BUDGET: “ IS A COMPREHENSIVE define OF BUDGET THAT COVERS ALL ASPECTS OF A F IRM’S ACTIVITIES. THE BUDGET IS PREPAR! ED 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 require to get a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper