Alternatively, variable costs can be stated as cost of every unit activity measure. Actual activity measures are then fed into the model after the accounting period. After this, the flexible budget is updated automatically by the variable costs. The resultant flexible budget is ten entered into the accounting system in order for comparisons to be made.
These comparisons produce variances more relevant than those produced under a static budget. These variances are especially because the expenses involved are based on an activity. This accounts for the small variances registered in this comparison than those registered under static budget. Flexible budget can range across levels of sophistication. In basic flexible budget, alterations are recorded where there is a direct variation between certain expenses and revenues (Hope & Fraser, 2003). Under intermediate flexible budget, there are certain expenditures that will change with other activity measures and not with revenue. Advanced flexible budget deals with expenditures that vary only at given ranges of other activities and revenue.
Master budget is a planning document that brings together all the budgets. It matches the beginning of a company’s fiscal year and be organized in quarters or months. The operating and financial budgets are the two parts of a master budget. It helps in judging the performance of company and its centers. The management makes modifies the master budget until it allocates funds to all set goals. Direct labor, direct materials, sales, manufacturing overhead and production are some of the budgets that show on a master budget (Finkler & McHugh, 2008). After preparation, the master budget is fed into the accounting system and financial reports are generated. Comparisons are then drawn between actual results and the budgeted amounts. There are spreadsheets that can help produce master budgets but they can have errors.
A master budget appears ...
Cite this document
(“Comparison of Two Types of Operational Budgets Assignment”, n.d.)
Retrieved from https://studentshare.net/nursing/696867-comparison-of-two-types-of-operational-budgets
(Comparison of Two Types of Operational Budgets Assignment)
“Comparison of Two Types of Operational Budgets Assignment”, n.d. https://studentshare.net/nursing/696867-comparison-of-two-types-of-operational-budgets.
disposal of land, buildings or even a particular segment of the business that was not performing as desired and, therefore, put up for sale. As it says, exceptional items are defined as those items that, by virtue of their nature, size or expected frequency, warrant separate disclosure in the financial statements in order to fully understand the underlying performance of the Group.
In this context, I have managed to give a detailed comparison of the two structures from different artistic angles. By deeply analyzing the Buddha sculpture, one would notice the how he seat legs folded. The fact that he is seated on a table of lions denotes great power.
It is a framework for monitoring the financial performance of the business. Financial benchmarking enables businesses to learn lessons from others and help them identify areas they have to concentrate on (Platen & Heath, 2009). The benchmarking technique used include; operational review and financial ratios.
The first budget I work with is the cash budget. The cash budget is meant for cash planning and control (Hansen et al., 2007). It is a forecast of the organization’s cash inflow and outflow for a given period of time. The main reason why
These include the master budget, cash budget, sales budget, production budget, labor budget, manufacturing overhead budget, operational and administration budget and lastly, the distribution budget (Kemp,
Rather, we witness hilarious actors who fight and still love together. When Maria Tura and her husband become overly angry at one another, we still cannot help, but laugh (Hake 18). The Great Dictator,
In this similar context, in relation to the story of “The Flood of Noah”, the hero can be duly considered to be none other than Noah and in case of the story of “The Flood of Gilgamesh”, the hero can be noted as
oth the Chinese and the American nursing education systems have gone through a number of central, socio-political, and hierarchical changes that have created profound impact upon the nursing education systems of both the countries. This paper compares the nursing education