Save
Upgrade to remove ads
Busy. Please wait.
Log in with Clever
or
show password
Forgot Password?
Don't have an account?  Sign up 
Sign up using Clever
or
Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account. Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't Know
Remaining cards (0)
Know
0:00
edit
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

AC11115

Budgetary Control and Planning

TermDefinition
Budget Quantitative expression of a proposed plan of action by management for a future time period and an aid to the coordination and implementation of the plan
Advantages of Budgeting 1. Enhanced Managerial Perspective 2. Improves Coordination and Provides warning of internal problems 3. Motivates Individuals 4. Framework for Control
Authoritarian Approach Budgeting and decision making done by a few people concentrated in the highest level of management
Participatory Approach A method in which roles and responsibilities are spread out throughout the organisation
Objectives of Budgeting 1. Force Planning 2. Communication of Objectives 3. Co-ordination of efforts 4. Delegation and Responsibility 5. Control of Performance 6. Motivate
Master Budget Comprehensive expression of management's operating and financial plans for the future period
Operating Decisions are based on... Scarce Resources
Financing Decisions are based on... How to obtain the funds to acquire those scare resources
Sales Budget The starting point in preparing the Master budget, detailed schedule showing expected sales for the next period in units and euros
Manufacturing Overhead Budget Provides schedule of all costs other than direct and material labour
Cash Budget is made up of what? 1. Receipts Section 2. Disbursements Section 3. Cash excess 4. Financing Section
Controllable Cost Any cost that is mainly subject to the influence of a given responsibility centre manager at any given time
Problems in Budgeting 1. Can be seen as pressure devices 2. Can cause conflict 3. Difficult to get personal and corporate goals at same time 4. Waste of money may arise
Created by: peadarbailey1206
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
Retries:
restart all cards