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Budgeting - a short overview

Título: Budgeting - a short overview

Ensayo , 2010 , 9 Páginas , Calificación: 70%

Autor:in: Linda Vuskane (Autor)

Economía de las empresas - Control de gestión
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In order to achieve their goals and objectives most companies make use of a budgeting technique. According to the Chartered Institute of Management Accountants (CIMA) budget is “a quantitative expression of a plan for a defined period of time”. Usually budgets are expressed in financial terms and prepared for one year.
Depending on the nature and business of the company, different types of budgets, such as incremental, zero-base budgeting (ZBB) or activity-based budgeting (ABB), can be adopted. However, usually the budget setting will commence with preparing the limiting-factor budget which will frequently be the sales budget with other budgets, such as production, direct labour and cash budgets, being prepared subsequently. After coordinated revisions these are added to a master-budget consisting of a balance sheet, profit and loss account and a cash-flow statement.
Despite the fact, that budgeting process has been often criticized because of its rigidity, short-term focus and bureaucratic and time consuming nature, it still provides many benefits to the company if implemented correctly. In fact, participants from the Better Budgeting forum came to conclusion that budgeting has been evolving and changing to better meet the requirements of today’s highly competitive and very dynamic environment.

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Detalles

Título
Budgeting - a short overview
Universidad
Glyndŵr University, Wrexham known as NEWI
Curso
Managing Business Finance
Calificación
70%
Autor
Linda Vuskane (Autor)
Año de publicación
2010
Páginas
9
No. de catálogo
V154391
ISBN (Ebook)
9783640688098
ISBN (Libro)
9783640688241
Idioma
Inglés
Etiqueta
Budgets Financial planning
Seguridad del producto
GRIN Publishing Ltd.
Citar trabajo
Linda Vuskane (Autor), 2010, Budgeting - a short overview, Múnich, GRIN Verlag, https://www.grin.com/document/154391
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