Budgetary Control by https://padlet.com/babrarichard_ucsfmalaysia/management_costing Chapter 3 en-us 2017-11-14 05:12:08 UTC 2017-11-14 06:49:42 UTC hello@padlet.com Answer these questions babrarichard_ucsfmalaysia https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206579683 1.List down the tasks involved in budgetary control.
2.What is the purpose of budget in the budgetary control?
3.Briefly explain at least two differences between Static budget vs Flexible budget.
]]> 2017-11-14 05:57:56 UTC https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206579683 Diana https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580321 1. The tasks involved in budget reports are :
- identify the name of budget reports
- establish the frequency of the reports
- specify the purpose of the reports
- indicate the primary recipients of the reports

2.The purpose of budgetary control is :
- using of budget in order to evaluate the performance in the company which is to minimize cost and maximize profit and also to compare the actual results and planned activities for monitoring.


3. Differences between static budget vs flexible budget are :
 
i -  static budget is prepared for only one expected level activiity
i - flexible budget is a budget that adjusts ti different levels of activity 

ii - static budget is not adjusted for the actual level of production and is not suited fo performance measurement
ii - a flexible is a set of budget relationships that can be adjusted to various activity levels]]> 2017-11-14 06:03:49 UTC https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580321 Geogis https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580346 1. the task involved is based on Ms Babra lecture note slide no 4, 
 - Identify the name of the budget reports 
- Establish the frequency of the reports 
- Specify the purpose of the reports 
- Indicate the primary recipient(s) of the reports 

2. The purpose of budget in budgetary control is to evaluate to performance by making comparison between the budget and actual make sure at the same level.

3. 
Static budget : -
i.  A static budget is prepared for 
only one expected level of activity 
ii. Does not change after developed

Flexible budget : -
i.  A budget that adjusts to different levels of activity 
ii. Separates fixed and variable costs


]]> 2017-11-14 06:04:04 UTC https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580346 Ferna https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580602
1. a) Identify the name of the budget reports.
b) Establish the frequency of the reports.
c) Specify the purpose of the reports.
d) Indicate the primary recipient(s) of the reports.

2. To evaluate the performance by making the comparison between the budget and actual and make sure it is at the same level.

3. - Static budget develop around a single level of  activity while flexible operates on multiple level of activity.
-  flexible provides expected costs for range of activity and flexible while static budgeted activity is based on the assumption.]]> 2017-11-14 06:06:31 UTC https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580602 fateha =) https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580895 1. task involved in budgetary control : 
- identify the name of the budget reports 
- establish the frequency of the reports 
- specify the purpose of the reports 
- indicate the primary recipients(s) of the reports 

2. the purpose of budget is to ensure planning for future by setting up various budgets, the requirements and expected performance of the enterprise are anticipated

3. the differences between static budget vs flexible budget are : 
- static budget is a master budget while flexible budget is a variable budget 
- static budget operates in only one activity level but flexible budget can be operated on multiple levels of output. 
- static budget is based on the assumption while flexible budget is realistic 
- flexible budget proves more accurate to evaluate the performance , capacity and efficiency of the activity level compared to static budget.

]]> 2017-11-14 06:08:48 UTC https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206580895 Genevie https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206581269 (1.) i. identify the name of the budget control.
      ii. establish the frequency of the report.
      iii. Specify the purpose of the report.
      iv. indicate the primary recipient's of the report.

(2.) i.  To evaluate the performance by making comparison between the budget and actual ( make sure in the same level).

(3). i.  Nature
A static budget does not change with the actual volume of the output achieved. A flexible budget is designed to change appropriately with the level of activity attained.

     ii.   Scope
A static budget cannot ascertain costs correctly in case of any change in circumstances. Flexible budget can easily ascertain costs in different levels of activities. 
 
]]> 2017-11-14 06:12:03 UTC https://padlet.com/babrarichard_ucsfmalaysia/management_costing/wish/206581269